Market Area Analysis
The market area (MA) is the foundation of a feasibility study. The MA represents the geographic area from which you should expect the majority of your residents will move. At Brecht Associates we do not believe that a MA should be defined by a radius. Highways, rivers, the location of shopping centers and hospitals can all influence how people access services. In some densely populated areas, like Manhattan, Brecht Associates defines a MA by city blocks. In other areas we define a MA by miles. Even if you have an existing community with resident origin data, we look at past years trends to confirm that there is no change in resident interest. The MA is supported by feedback from competitive communities operating near your site as well as the perception of local interviewees whom we call “influentials.” These are people that are familiar with both seniors and senior housing in the area where you would like to build. At Brecht Associates we believe defining a MA correctly is critical.