Market Research
Recognizing that a comprehensive understanding of the market need is key to any business plan, Chi Partners provides market research for a variety of types of housing and services.
Chi Partners assists clients with market analyses for independent senior housing, assisted living facilities, memory care units, and skilled nursing facilities. This market research may be conducted to determine the need for new facilities or services, before a substantial renovation project is undertaken, and/or to identify the most appropriate repositioning strategies.
As part of this market research, Chi Partners:
- Evaluates potential site(s) from a marketability perspective
- Identifies the primary and secondary market areas and their economic strength and migration patterns
- Determines market demographics including potential age and income qualified residents, frailty levels, market area demographic trends and future growth potential, and market penetration rates
- Evaluates the existing and planned competition including occupancy, amenities/services, pricing, unit mix and building features
- Conducts customer surveys of both decision makers and potential residents in the primary market area
- Researches licensure requirements, public policy considerations and local codes
- Provides detailed research conclusions including optimal unit mix and sizes for the proposed project, market demand, licensure type and pricing structure
Chi Partners takes an individualized approach to each market study conducted, based on the recognition that each community and target population is unique. This approach often brings to light needs and opportunities that might not otherwise be detected, and forms the foundation for the comprehensive analysis performed as part of each study.