Feasibility Studies for Independent Living, Assisted Living and Skilled Nursing Facilities
Is your healthcare facility looking to launch a new expansion or service line? Are you an investor building a new assisted living, independent living, or skilled nursing development? We can help your company conduct a detailed feasibility study for your senior living development.
Nielson Financial Services has over 15 years of experience in the healthcare financial industry and is one of the newest leaders in feasibility studies for senior living development. Our team of healthcare market experts and researchers takes a detailed look at demographic and economic trends in your area and provides projections that will help your company decide if your investment project is feasible for your location.
The Nielson Financial team assisted us with feasibility studies for both assisted living and independent living. They were highly responsive and provided updates throughout the entire process. The final reports that we received were detailed and written in a way that was easy to understand. I would recommend Nielsen Financial Services to anyone. We will absolutely utilize their strengths again in the future.”
Mackelle Hendrix –
Operations Manager, Trilio Group
Why complete a feasibility study for senior housing projects?
A market feasibility study is designed to assist internal decision-making for a property as well as a presentation for other potential operators and financial partners. For many investors, the combined components of real estate and hospitality give senior housing and care properties a unique resiliency, offering the benefits of real estate investment along with the strength of the healthcare field.
About Our Detailed Feasibility Studies
Feasibility studies conducted by Nielson Financial consist of a multi-phase research program that looks in detail at key factors that will help your company determine if your senior living project is feasible within the primary market area.
First, we create a list of all current senior living facilities in the PMA (primary market area). The compiled list includes research from the state website, hospital discharge planning, and internet research. After we have our complete list, we verify information about each facility including (units, occupancy percentages, rates, amenities, the age of the facility, appearance of the facility, etc.). This gives us our list of comparable properties “comps”.
Next, we create a demographic profile of the residents within the PMA (both total residents, and age- and income-qualified residents). The demographic profile and the list of senior living facilities are used to calculate different penetration rates. The rates are compared to both national and regional averages to determine feasibility.
Key functions of a feasibility study performed for assisted living, independent living or skilled nursing development include:
- Conducting Detailed Market Analysis
- Senior Living Supply-Demand Forecasts
- Senior Living Market Research
- Senior Housing Regional Analysis
- Competitive Market Analysis
- Defining Primary Market Area (PMA)
- Supply Analysis for Primary Market Area (PMA)
- Demand Analysis for Primary Market Area (PMA)
- Penetration Analysis for Primary Market Area (PMA)
Your company will have the option to customize your feasibility studies to the level of detail needed for your project. A detailed feasibility study usually takes between four to six weeks to conduct. We can also add additional layers of depth to your study by conducting project timelines, revenue projections, profit and loss projections, proformas, staffing costs, etc.
We highly recommend the Nielson Financial team for senior living feasibility studies. We contracted their team to conduct reports for our assisted living care and independent care facility projects earlier this year. The reports were delivered on time and were much more comprehensive than we expected. We feel that the feasibility studies have helped us make informed decisions about whether to move forward with our projects. We appreciate the Nielson Financial team for providing their expertise at a great value!”
– Antonio Hyppolite
Want to find out if your senior housing development is feasible? Contact Nielson Financial today for a free consultation or detailed senior living market analysis. You can reach us at (407) 454-9096 or fill out a form to Contact Us.
Have more questions about feasibility studies? Learn more on our frequently asked questions page.