Milestone Market Study Engagement

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We recently signed a proposal for our 1,000th engagement to do a market study for Horst SeniorCare.  Not only are we proud of that, but we feel it is particularly significant that this is not our 1,000th client. Like Horst, this number reflects the fact that so many of our clients return to us whenever they need our consulting services.

Over the last 25+ years, many communities that we have done studies for have been built and have thus enriched the lives of countless seniors and their families.  The longevity of our staff is also something I’m proud of.  In fact, one person has been with me so long that she can pass as a prospective resident when she visits competitive communities!

In related news, we congratulate our client Douglas Wilson Companies on breaking ground on their first senior housing community.  Otay Ranch Senior Living is being developed in San Diego County’s Otay Ranch region and will include 80 assisted living units and 24 memory care units.  The project broke ground in June of this year and is slated for completion in mid-2018.

Urban vs. Suburban? How About Both!

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Senior housing trends watchers are increasingly enamored with the growth of urban housing offerings for people 65 and better. These new developments are making the most of two important things: 1. Retrofitting old buildings and building new ones with contemporary design features and 2. Making the most of the surrounding urban amenities.

 

Brecht Associates began in 1990. At that time there was an eagerness to move out to the suburbs and for the most part, that’s where Life Plan communities grew. However, Boomers were living in urban centers, infusing themselves with lively and diverse arts, cultural and social scenes. In fact many of today’s retirees were the people in positions of leadership making cities the vibrant places they are now.

 

This may explain the current renaissance in our urban core, with people of all ages wanting to live in cities once more.

 

The truth is that people will continue to live in both environments and the industry will benefit from having a broad, long-range view about the appeal of different locales. Life Plan community operators must make the most of their surroundings, whether urban, suburban or rural and highlight their connection to the community at large.

 

Speaking of urban communities, I recently had the pleasure of addressing the Mary Wade board of directors in downtown New Haven. This is an extraordinary community that has served the low income residents of New Haven well. They now aim to broaden their appeal with a proposed market rate assisted living building. My presentation included current trends that will help Mary Wade continue to serve their community and attract more residents to their downtown location.

 

Finally, we are delighted that Sandi Fein was elected Chair of the Board of Trustees at the Deborah Heart and Lung Center. Sandi Fein has been an active associate with Brecht Associates, Inc. for more than 25 years. As a member of the Brecht consulting team, Sandi has conducted numerous market feasibility studies, and she continues to serve as a consultant specializing in qualitative interviewing on behalf of clients.   She is currently a member of the Quality of Care and Community Health Advocacy Committee of the Deborah Hospital Trustees. Sandi is enthusiastic about the opportunity to lead the Trustees and help guide the organization in continuing to fulfill its’ mission of life-saving service to the community.

Language and Ageism

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Despite the incredible growth in older demographic age groups, especially the cohort of people age 65 to 74, we still suffer from the use of condescending language when it comes to the aging process. I know I cringe when someone in a store calls me “dear”. I’m not their “dear” and the use of that word is patronizing at best.

I recently saw an ad for Ford, the largest American car maker. It portrayed a woman probably in her mid to late 40s talking on the phone to her mother saying “WiFi– it’s not a question, mom, it’s a thing”. Apparently nobody told her that WiFi has become a “must have” in retirement communities around the country. I know I’m not the only one that felt this was incredibly condescending and I made a mental note to drop Ford from my list of possible car manufacturers for my next purchase. The purchasing power of those of us who technically qualify as “seniors” (another word I don’t like much) is enormous. Older adults are rapidly becoming the largest market segment in society and will possess the most purchasing power of any demographic, according to a task force at the International Longevity Center in New York. So it’s time for all of us in day-to-day conversations, in marketing campaigns, and generally as we interact with older Americans to “watch our language”. Get the picture?

I’ll be making a presentation on the psychology of aging at the Leading Age Conference in New Orleans being held October 29 through November 1. Hope you’ll attend.

Helping Hands Across The Water

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Every July 4th weekend, Bob and I help out at the Feed the Need fundraiser at our area yacht club in Pine Beach, New Jersey. The event features a sailing regatta powered by local children who race each other down and back along the Toms River. Over one hundred little skippers take to the water that day from communities all over the area. Its lots of fun for so many reasons, not the least of which is that we raise a tremendous amount of money for the local food bank.

This year, I had the pleasure of manning the registration table with a lively 8 year old named Vivien who handed out the tee-shirts to all the sailors. Working alongside this smart and caring youngster all day long was at times funny and exhausting! I’m so glad I could keep up!

My intergenerational experience reminds me that we can and do work side by side with each other no matter what our age, especially in service to others. We may find it rewarding and sometimes challenging, but we are always ready to lend a hand when needed.

As we remember all those that served this country on this Independence Day, I say hoorah for all those seniors who continue to pitch in whether at home or in a retirement community and congratulate them on their vitality and desire to stay connected to others.

Competition

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I recently read a great post by Steve Moran, an astute observer of the industry serving older adults. In his May 8, 2017 Senior Housing Forum Steve highlighted the need for senior housing operators to be aware of the competitive marketplace in which they’re located. He said this is increasingly important as inventory grows. I’d say it’s important all of the time.

A community once new and fresh, competitively priced and positioned in the marketplace, can easily become outdated and out of touch with customer preferences if they are not constantly testing the consumer preferences.  We often assume  providers are operating the way they have in years past. In the busyness of senior housing operation it can be difficult to keep up with the changing dynamics in the market areas.

A consulting firm can often obtain information not available to local operators.  The competitive analysis we include in our market studies provides far more than quantitative numbers useful in calculating market depth or market penetration. It becomes a part of the story for each of our clients.

Unlike a selfie in which a person pictures themselves with a backdrop of their choosing, senior housing operators must place themselves in a real competitive marketplace in which they’re located and take a good look at the picture that results.

Welcome to the Inaugural Edition of Notes from a Boomer!

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Last month, I finished reading the book Americanah by a Nigerian author named Chimamanda Ngozi Adichie. It is an incredible story of a Nigerian woman who immigrates to America and becomes famous with her blog about Black Americans and Black Non-Americans. Her blog entries are all included in the book.

Of course, this made me think about our new website which has a blog. Our website designer asked the team to name the blog. We came up with many ideas for naming the Brecht blog. The names that really stood out contained the word “Boomer” because so much of what we do is does or will have an impact on Baby Boomers. And many of us are part of the Boomer generation.

The name we settled on was Notes from a Boomer. The name gives us latitude to write about various topics from the boomer point of view – like Don’t Call Me A Senior, Aging in Community vs. Aging in Place, What Boomers Look for in Housing Later in Life, etc.  We hope the emails and blog posts will be as fun and interesting for you as it will be for us to write.