Chapter 10 - Section V        Market analysis

Completing a market analysis is very helpful in defining your market and your property’s ability to sustain itself in the environment it is located. It should also drive your advertising campaign. This can be an important part of the business plan. To start in this process, you must define your demographic and service area then target the areas that apply. Define appropriate census and income data and the regions that match your goals. Consider where people travel when you are targeting your market. Engage marketing tactics that target individuals who are 53 years old and older who have an appropriate annual income and assets. Remember that persons in their early 50’s have an influence in where they will place their older loved ones.

If your market study shows weakness, you may have to move your target advertising campaigns out to more underserved or overpriced areas where regulations are more restrictive and expensive or property values are very high. Sometimes all your markets for admissions will not be in the obvious locations. They can be out of state or in quiet untouched areas or places where they do not carry the acuities you can. You cannot be afraid to drive far distances and even assist in moving the admission personal belongings with your own properties vehicles in order to get them to admit.

The following is a list of items you should review when completing your market analysis.

·      Is it a large urban area or a small rural area?

·      Is the senior population growing (is the aging population growing or shrinking in the area)?

·      What is the price of product compared to the income of the region (affordability review)?

                                Chapter 11 - Section VII       How to handle new move-in's.

Complete a new move-in survey shortly after admission. This should be done to evaluate the most sensitive time of the stay, the beginning. The move in is often emotionally difficult and scary for the resident. It can invite emotions such as confusion, guilt, anger, sadness, or despair. Some family members even need the same level of comfort. Your staff needs to be readily available to relieve any fears and answer questions. Extra attention should be given at this time. This is the time a person is most likely to move-out. Offer a lot of reassurance in the first few weeks and introduce the person to their new roommate staff and administration as applicable before the move-in to relieve any fears. 

New Move-in survey can contain questions like:

·       Was your room prepared and in order upon your arrival?

·       Was your room cleaned routinely or as you required since admission?

·       Were there any problems with the carpet or linens?

·       Were there any problems with the laundry services?

·       Did the staff introduce itself to you?

·       Did you receive a tour?

·       Were the shower and laundry policy and schedule discussed?

·       Did the life enrichment coordinator share with you the current activities calendar listing upcoming activities planned?

·       Were you invited and escorted to each activity?

·       Were you introduced to other residents ?

·       Did the dietary staff discuss the menu and the kitchen services with you?

·       Were you invited and escorted to the dining room?

·       Were you asked what food you like best?

·       Do you like the food being served?

·       Were you asked what your hobbies and talents are?

·       What can we do to make your stay better?

·       What is the best part of your new home?

·       Were you informed of the beauty shop / salon schedule?

·       Did you receive and have the “complaint procedure” explained to you?

                                         Chapter 12 - Section I        Building Design

·      Building construction needs to be a well thought out process with every attention to detail. Consider vaulted ceilings and skylights (consider this in the resident apartments as well as the common areas) consider well-lit walking areas and paths between buildings or continuous walking paths in closed-in areas for Alzheimer’s residents. Hide roof equipment, dumpsters and other utility equipment from plain view of your population during transportation throughout the community and from plain view of the apartments.

·      Often the region you live in will drive the design chosen (ranch, Cape Cod, brick) because they typically should mirror the housing designs of the local region.

·      If you are renovating, it can be hard with people living there, so strategize well. Often business will expand by adding beds and then moving some of the current population into the new wing (neighborhood), thereby opening the old space up for renovation after they are empty for a while.

Green construction

When building or upgrading consider Green Construction . This is a energy efficient way to complete the construction of your community and can, in the long run, save you a lot of energy costs, improve asset value, net operating incomes, and may improve tenant experience and quality of life. Also, it can be used as a marketing and sales angle to market your community to the public by stating your dedication to the environment, and you can market how the energy savings cost can be handed down to the residents.

The local government may have incentives in place for green construction, such as tax credits , rebates, expediting permits and density bonuses. Meet with your local green agencies. One agency is LEED (Leadership in Energy and Environmental Design), which certifies Green Projects and may even offer a Green Checklist to guide you. Green Construction instills such things as:

o     Low voltage systems

o     Large energy efficient windows to capture panoramic views that double for natural lighting systems

                                      Chapter 13 - Section X        How to manage inquiries

1) Know the customer

·      Once again you first get to know the customer by listening.

·      Document information gained about an inquiry for future talk.

·      Let them tell you as much as possible so you can address their needs. They want to hear how you can meet their needs and not a laundry list of services offered. Be their solution to every problem genuinely and allow time for them to process what you are saying.

·      Always be warm, compassionate, sincere, and caring

·      Make comments like, “I know this must be difficult for you,” and “I can help.” Let them know they are not alone.

·      Become their solution and friend.

2) Inquiry call communication

·      When returning an inquiry call, always make three attempts before leaving a message. It is very important for you to get the chance to speak and bond with the inquiry.

·      If you speak to them personally, you then have an opportunity to sell them the "lifestyle" they will love as well as your outstanding care services.