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Marketing Strategies Update

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

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Marketing Strategies Update

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  1. Marketing Strategies Update BCLSA 2013

  2. Lumina Services • Leading Canadian provider of market & financial feasibility studies • Development consulting • Operational consulting • Life Lease

  3. Topics • Who moves, who doesn’t and why • Affordability perspectives • Unit type & amenity preferences • The market today & tomorrow • BUT FIRST

  4. The trend continues

  5. On a more micro scale 5%

  6. 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.

  7. But some good news: birth rates, Canada Trough - 1937 76 today The size of the pie Increases for the next 23 years

  8. 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.”

  9. 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

  10. Are you ^%*&^% kidding me? $4,100 per month! You must be mad. Really? Then think about $7,000 per month or $8,000

  11. The Maple Leaf Mainlanders (South China Morning Post)

  12. 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:

  13. Different Approaches • Optional services (yes I know they are difficult) • Home based care (CCRCs without walls, virtual retirement communities)

  14. Thank you for your attention! Kate Mancer 604 908-8203 mancer@luminaservices.com

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