The first segment of this multi-part series established that market studies are a critical component of determining whether a proposed seniors housing property is an attractive investment opportunity. The second segment touched on maximizing accuracy in defining a market area. And the third segment discussed quantifying and qualifying the competitive environment.
Conducting a Desktop Analysis of the Competition When conducting a market study competitor analysis, many tools and sources of public information are available right from your desktop. The task may seem overwhelming, especially if the market is highly competitive. But here are some best practices to follow: Know what you are looking for Consider why the information is available Think like a prospective resident Organize a collection plan
Defining the Market Area The first segment of this multi-part blog series established that market studies require particular attention as a critical component of the seniors housing development planning process. In this second segment, we’ll touch upon common methodologies, and uncover fine points that can increase the accuracy of a market study.
Components of Market Analysis for Seniors Housing and Care Market studies are a critical component of the seniors housing development planning process. They’re hard to get right and, unfortunately, extremely easy to get wrong. In this multi-part blog series, I’ll provide the nuances, techniques, and best practices for making your market study a successful tool that helps prevent major project failures and uncover significant opportunities. First up: The integral components of a successful market study.