Senior Consulting, LLC

We provide solutions for acute hospitals, long term care facilities and senior housing.

              Summary of Market and Feasibility Services

Following is a summary of Market and Feasibility Services available from Senior Consulting for Long Term Care and Senior Housing, with custom services available to suit client needs, including services for Vendors in the industry.

Preliminary Market Feasibility Study

In the early planning stages, this type of study can help your organization decide whether to proceed with a project. It assesses market support for your project. To determine market depth and appropriate community pricing, SC can conduct a Market Review, involving:

• team meeting and site review
• telephone surveys with specific Realtors, planners, and gatekeepers
• telephone surveys with competitors
• preliminary market area definition
• demographic analysis
• preliminary pricing analysis and market depth determination

The completed Market Review report provides a summary of our findings and conclusions, giving you a reliable yet economical way to test market strength before moving forward with project plans. Comprehensive Market Feasibility Study Suitable for use in both project planning and financing, this study provides detailed recommendations regarding important issues such as:

• overall project size
• levels of care
• unit mix and sizing
• pricing levels and approaches
• services
• amenities
• absorption projections
• positioning

A Comprehensive Market Feasibility Study tests and validates (or recommends) each of the key elements of a proposed new community, expansion, or acquisition, including:

• site/location (if new construction)
• target market
• specific project characteristics such as payment structure, pricing, unit types, unit sizes, amenities, and services

A Comprehensive Market Feasibility Study may include:

• Detailed interviews with people who are knowledgeable about the area and its senior residents

• Visits to competitors, interviews with their marketing personnel, and compilation of detailed information regarding existing and planned competitors’ pricing, services, amenities, and resident characteristics.
• A determination of a market area, based on a review of human, natural, economic, and psychological boundaries for the market, as well as the experiences of competitors.


In addition, a detailed demographic segmentation analysis can be conducted, breaking down and analyzing the market in terms of:
 
• housing tenures (owners vs. renters) cross-tabulated by age
• household incomes cross-tabulated by age and housing tenure
• home value and monthly gross rent cross-tabulated by age and income

A Comprehensive Market Feasibility Study also confirms market depth, establishes parameters for absorption of units, and makes specific recommendations for capitalizing on niche opportunities and addressing particular challenges in the local marketplace. The Market Study may be used to support project financing.

Community Services Market Analysis


A Community Services Market Analysis determines market need when an existing community is considering expanding its mission by offering services to area seniors. An Analysis includes:

• delineation of service area
• review of the service area’s demographics
• identification and assessment of competitive service providers
• review of market depth and pricing sensitivity for particular services

The Analysis summarizes findings, prioritizes services to be included in the Program, and makes recommendations regarding joint ventures, alliances and/or acquisition opportunities for additional services.

Ascertaining Services Areas

There are several methods that can be used to establish the primary and secondary services areas of a subject property. One method is utilizing a radius of a defined distance, i.e., 5, 10 or 15 miles. This method could include facilities from more than one county that are still within easy driving distance. The second method is including all facilities within the city, township or zip code where the subject property is located and one or more contiguous cities, townships or zip codes. The second method also allows for the consideration of a certain maximum distance when including cities, townships or zip codes. Another factor in determining service areas is the location of geophysical features such as rivers and mountains. These natural barriers may affect the public’s perception of whether the subject property is within easy driving distance. These perceptions must be considered when establishing the primary and secondary services areas.

Ask us for more information.

 

 

 




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