A special message for senior living developers and acquisition teams:
Regarding the due diligence process that most senior living commercial real estate experts conduct -- does it typically include sending in a representative to look at the physical plant details like the AC units, plumbing, etc. and the "ops" items like rent roll and resident satisfaction? One might say, typical due diligence evaluates the target "community."
But at Senior Source Consulting Group (SSCG), we look at things from a sales and marketing perspective and conduct due diligence for our clients that evaluates the target market and the target "customer."
Our focus is on the prospect and the family member who are going to be "buying" the target community's story and will be evaluating the client's and competitor's value propositions.
We consider the land/asset from a Sales & Marketing standpoint:
▶ What needs to be in place for sales to have a compelling story to tell?
▶ What amenities and services would give the client community the edge?
▶ Are there any site location advantages that can be leveraged to a greater degree?
▶ How can this community out-compete area competitors?
▶ What rates would make sense given the choices in town?
▶ Are there any concerns that need to be mitigated?
Recently, our research uncovered a number of favorable details for a client where market conditions were found to be "exceptional" for new construction, and for another client, post-renovation rate potential showed the potential to increase AL rates by 20%, increase MC rates by 10%, and to double the community fee.
What is the potential at your community?
If you are considering new development, an expansion, renovation, or acquisition, reach out to Senior Source Consulting Group (SSCG).
Add Senior Source Consulting Group (SSCG)'s market entry research to your due diligence process. This market research combines an In-Person Competitive Mystery Shop + Market Study + detailed Pricing Analysis + Complimentary Post Mystery Shop Brainstorming session for a 360-degree view into the market.
With our unique perspective (and letting our team combine and coordinate several services on your behalf), you will be able to proceed with maximum confidence, making highly informed and strategic decisions for your project.
Learn more about our services including our unique Comprehensive Market Intelligence package by reaching out today. Let our team be your #1 source for invaluable market intelligence research.
Email: Amy@seniorsourceconsulting.com or click below to schedule a conversation.
"It has been our pleasure to work in partnership with Senior Source Consulting Group. They have delivered for us consistently and have been extremely helpful in our growth and diligence capabilities. I enjoy working with the SSCG team, appreciate their responsiveness, and would highly recommend them."
Uri Kahanow
Director of Acquisitions
Tryko Partners
"SSCG is always my go to for market work. It's exciting to see what new services Amy and the team have cooked up!"
Janine Whitte
SVP of Sales and Marketing
Senior Lifestyle
"Senior Source Consulting Group has been an incredible partner to work with. Their mystery shopping, competitive analysis, and market research provided actionable insights that truly helped guide our strategy and improve performance.
Thanks to their expertise and thoughtful recommendations, our community’s Assisted Living and Memory Care occupancy has grown from roughly 35% to around 75%, and we actually met our covenants as a result of that growth — a milestone we’re very proud of. The team was professional, responsive, and genuinely invested in our success throughout the process.
We’re now seeing measurable, sustained progress and renewed confidence across the organization. I’m deeply appreciative of their support and would highly recommend Senior Source Consulting Group to anyone looking to strengthen operations and drive real results in senior housing."
Jennifer McGurty
Head of Senior Housing Asset Management/Director
AEW Capital Management
"Amy and The Senior Source Consulting Group did an outstanding job for us. They conducted a secret shopper study of multiple senior living residences on-time and exactly as requested despite the holiday season. The proposal process was quick and efficient. The finished product was polished, easy to digest and backed by all their research and supporting data. The work outlined multiple key issues for us to focus on and even included several go-forward strategies which were above and beyond the assignment. Senior Source Consulting Group understands the senior living space well and I recommend them whole-heartedly."
Rex Reynolds
Phorcys Capital Partners, LLC
"Berkshire Residential Investments has been working with Senior Source Consulting for several years. We have utilized Amy and her highly experienced team’s services in several ways since discovering Senior Source. Amy’s team has conducted secret shops on our 10 senior living communities (several times for some), we have asked Amy to provide coaching services to some our operators and their on-site management team, and we have asked Senior Source to provide reports on the comp set in each market we have a community in to get a better sense on where we stand against our competitors.
Senior Source provides a service that not only gets you the answers you need to improve your community, but they guide you on how to achieve the highest level of success.
We saw such growth come out of the secret shops that we asked Amy to come in-person to a few of our struggling assets and partake in strategy sessions. One struggling community had reached stabilization within weeks of holding the strategy session.
We look forward to continuing our relationship with the Senior Source Consulting team for years to come, their experience and service is unmatched."
Taylor Fleming
Project Manager - Development Investments
Berkshire
Company