Memory Care Market Study
A comprehensive Memory Care Market Study for memory care facilities is a must-have tool that can help developers and memory care managers make the right decisions for building or expanding their facilities.
At Senior Consulting, LLC we recommend commissioning an analysis as early in the project development as possible, as the results can shape and direct choices ranging from site location to interior design to marketing.
A memory care market study works to analyze your competition and current market demand for additional services, such as independent living and assisted living. Our research has indicated that almost every regional market in the country has a growing need for memory care specifically.
We start by analyzing your facility’s local market: how many people are in your area? Who is part of the target demographic? What are the defining economic and age characteristics of your target market? It also attends to the competition in your area: how much are they charging? What are their differentiating points? What’s their current occupancy? What’s the current market penetration in your area? As part of the market study, we will mystery shop all of the identified competitors, both on the phone and in person, to get as much information as possible.
Unlike other companies, Senior Consulting, LLC, doesn’t simply draw a circle around your facility and analyze everything within it: we carefully examine your geographic region and craft a custom service area that takes influencing factors, such as consumer draw and common travel, into account. The result is a much more specific and accurate look at your market and competition.
Our memory care market study will share with you recommendations, upgrades, and plan adjustments where appropriate when it comes to things like overall project size, services and care levels, as well as the sizing and mixing of units, their pricing, and potential add-on services and amenities.
Contact Us to speak to a senior living consultant about how our memory care market study can enhance the quality and success of your memory care facility.