marketing strategies update bclsa 2013. lumina services leading canadian provider of market &...
TRANSCRIPT
Marketing Strategies Update
BCLSA 2013
Lumina Services• Leading Canadian
provider of market & financial feasibility studies
• Development consulting• Operational consulting• Life Lease
Topics
• Who moves, who doesn’t and why• Affordability perspectives• Unit type & amenity preferences• The market today & tomorrow• BUT FIRST
The trend continues
BC AB SK/MB ON PQ ATL
-15,000
-10,000
-5,000
0
5,000
10,000
15,000
Net Interprovincial migration of seniors, 1998-2012
On a more micro scale
5%
David Watmough, a self-described ‘inmate’ of Vancouver’s Crofton Manor, says the laughter yoga class he participates in at the residence takes the pressure off being an introvert. His therapist has seen some amazing turnarounds.
0
100,000
200,000
300,000
400,000
500,000
600,000
Chart Title
But some good news: birth rates, Canada
Trough - 1937
76 today
The size of the pieIncreases for the next 23 years
So that’s one way to improve occupancy. Here’s another:
“All properties can and should operate at 100% occupancy”
……..Anthony Mullen, National Investment Centre for the Seniors Housing and Care Industry
“We fail to connect with 4 out of 5 prospects who visit us and have a need/want.”
Affordability: what can people pay (what COULD people pay)?
• Average house price = $757,000 (Metro Van)• Average household income = $74,963• Income post-sale and post tax = $70,000• At 70% = $4,100 per month
Are you ^%*&^% kidding me? $4,100 per month! You must be mad.
Really? Then think about $7,000 per month or $8,000
The Maple Leaf Mainlanders (South China Morning Post)
Unit Preferences
• Studios with alcoves• Ensuite bathrooms with 2 doors• As much storage as possible• Closet organizers• Shelves that people can reach• Any my current favourite:
Different Approaches• Optional services (yes I know they are difficult)• Home based care (CCRCs without walls, virtual
retirement communities)
