Each month, we explain a type of research and how it increases profits and customer satisfaction. For customized solutions, please email research@promatura.com.
COVID-19 update: Are we still doing feasibility studies? Absolutely! Our methods allow for comprehensive remote research. For more information, please contact Bryon Cohron, bryon@promatura.com.
Situation:
You want to develop an assisted living community in Middle Metropolis, Texas. First, though, you need to know whether that type of community will likely succeed there.
Solution:
Start with a feasibility study. Many research firms offer them. But ProMatura has become known for findings that are a cut above in age-qualified housing (senior living). Why?
In a nutshell:
ProMatura doesn’t do normal.
Normally, research firms use penetration rate to determine whether there’s a market for your product type.
Penetration rate = the percentage of people in your target audience who already live in the type of housing you want to offer
But research has found that penetration rates do not reliably predict occupancy. For example, even if only 5% of people in your target audience live in an assisted living community, that doesn’t mean that the other 95% want to.
So what do we use instead? Proprietary demand models.
Why ProMatura’s feasibility studies work:
Over the decades, ProMatura has honed specific, specialized demand models, which are based on consumer willingness to move. We have a proven model for every type of age-qualified housing, including active adult, independent living, and assisted living.
Our five-year projections are also more reliable, because we root out not only competitive properties that are under construction but those that are in the formal stages of planning. (That takes some doing.)
A lot of feasibility studies are adequate for bank requirements. But for the best reliability, give us a call and see if our methods fit your goals better: 662-234-0158.
Learn more:
To find out more about ProMatura’s feasibility studies for age-qualified housing (senior living), give Bryon Cohron a ring at 662-234-0158, or email bryon@promatura.com.
Previous research spotlights:
- Occupancy down? Our Sales Associate ER may be able to help.
- Learn what’s most likely to sell (or rent), with our Community Planning Seminars.
Photo by Lionel Gustave on Unsplash, cropped.
