Market Feasibility Study
A market feasibility study can be as simple as defining a market area, surveying the existing competitive product, reaching out to planning agencies to learn of any planed product and determining if the market can support your Project at agreed upon age and income criteria. At Brecht Associates we call this a Preliminary Market Study and it is a useful tool for understanding if you should proceed any further with your plans.
By adding additional elements to a Preliminary Market Study, a Full Market Study becomes a useful tool to potential lenders and a far more useful tool to you in understanding the market place in which you will be competing.
The following chart outlines the differences between a Preliminary Market Study and a Full Market Study. In both cases, the end result is a study that will at the very least, tell you if the market can support your planned Project. From there we can make recommendations regarding levels of care; unit mix; unit types and sizes and fees. Every study is designed to fit your needs and answer your questions. Our goal is to help you create successful senior housing and services.