Ashley Place: Living Community in South Woodbridge, Lodi, CA - Essay Sample

Introduction

Ashley place is a living community located around South Woodbridge neighborhood Lodi, California (realtor, 2019). The senior care community is located in a community mainly comprised of middle-income individuals. The average income of the families located in this area is 44,500 USD. The population in the Lodi area is rather dense with the number of residents amounting to 48,000. The South Woodbridge neighborhood consists of diverse social settings and amenities, which include: health care services, worship places, local amenities, and retail stores. Majority of the population is of the Christian faith evidenced by several churches, for instance; Seventh-Day Adventist Church, Church of God, and Vinewood Community Church. Moreover, there are various essential services and amenities within this living community. The local amenities comprise of public living area, store, dining room, landscaped grounds. The services offered in the living community include medical, dining, family, insurance, and personal.

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The assisted living community is well-maintained with 73 units. The 73 units occupy an area of 37,227 square feet and have a total of 145 care beds which are licensed. Moreover, Ashley Place provides 39 studio units, 32 single bedroom units, and a single half-room unit. Each of the 73 units is well supplied with a shower and private toilets for the occupants. Additional salient features that can be found at The Ashley Place is parking on the southern side of the one-story building. The western wing of the building contains 17 units which are linked by a single-story covered walkway. Moreover, renovations were undertaken to improve the general comfort of the living community. Some of the features added from the renovation include; a small catering area. These renovations have made Ashley Place to have the capacity of being converted into a memory care facility for senior members in the population (realtor, 2019).

The following is a market analysis that entails studying the dynamics of Ashley place living community market. The study includes both external and internal factors that can directly affect the market. Successful operations in the market are dependent upon plenty of market analysis. Thus, individuals can get living spaces that suit their needs as the various factors in the environment are considered. The previous experiences of the consumers in their former locations are also considered to find an establishment that best suits them. However, some of the essential details included when conducting market analysis for Ashley Place living community are as follows; customers, competition, competitive advantage, critical success factors, critical risks, potential sales, and marketing share.

Customers

The market base of Ashley Place is comprised of a large population of senior individuals who need assistance. Among the senior population, 7.3% are 75 years and over, whereas 2.5% of the senior individuals are 85 years and above. Additionally, the demographics favor The Ashley Place establishment by the presence of a large (24%) supporting adult child. 24% of the residents at Lodi are of the age group of 45 and 64. The population at Lodi have a medium economic capability valued at 297,165 USD which is promising as the residents have purchasing power. Therefore, analysis of the potential customers for Ashley Place presents a significant market and the potential for growth.

Competition

The Ashley Palace is not the sole living community in the area. Lodi area is comprised of four other living communities; hence The Ashley Place makes it a total of five living communities. The presence of other assisted living market presents competition for marketing Ashley Place. In fact, the other assisted living communities own the largest marketing share, which is 25.8% higher than Ashley Place. Ashley Place is facing potential competition hence the need for developing an effective competition strategy to secure an advantage.

Competitive Advantage

With the presence of several assisted living communities in the Lodi area, Ashley Place has to develop a competitive advantage over the others. Ashley Place has done well to drastically lower its average rental level when compared to other living communities in the area. The average rent offered by The Ashley Place is 903USD lower than AL/MC communities in the area, hence making it affordable, attracting a vast customer base.

Moreover, a well-maintained living structure as developed by The Ashley Place is a key strength in gaining competitive advantage other facilities of senior care present in the market. A senior living establishment stands out from the rest with regards to devoted touches during design. That ensures the senior population can gain the possible independent lifestyle they need for survival. For instance, a well-designed walk-in closet enables the senior occupants to have a more luxury and easier mode of determining what to wear for the day. Therefore, during the marketing of The Ashley Place in the presence of adult children, such improved touch designs would work to assure occupants of their luxury and comfort. The Ashley Place living community is then presented as an establishment that has the comfort of potential occupants in mind. That is important to gain the needed competitive advantage over other living communities available in the market.

Critical Success Factors

There are no sufficient assisted care units in the Lodi area to offer services for the senior population. That presents a great opportunity for Ashley Place to succeed in the community living industry. The number of memory care units is only 30 when compared to a large number of individuals who need care. The number of individuals requiring mental care in the Lodi area is about 2025 people who are above the age of 85 years.

The absence of sufficient specialized care for the senior population in the area presents a marketing opportunity for Ashley Place. Converting some of the units to offer specialized care, for instance; dementia, memory loss, and Alzheimer's diseases would ensure potential customers are attracted to the establishment. That is because Ashley Place would appear as an establishment that plans and cares for diverse complications among the senior living population.

Critical Risks

The cost of doing renovations at The Ashley Place facilities may have an impact on its growth when capital is not sufficient. That is because the living community is determined to have cheaper rental rates when compared to other facilities of senior care. For instance, The Ashley Place's average rent level is 903USD lower than AL/MC communities in the area. Therefore, cheaper rates of rent may mean there are not sufficient funds in place to ensure some units are converted to accommodate specialized senior individuals. Moreover, when the facility is modified to offer specialized care, there has to be sufficient trained personnel to handle the operations in the living community. There is an inherent risk when there is no sufficient trained personnel to manage the special senior population as that may result in loss of The Ashley Place reputation. Trust is integral to facilitate transaction in business operations; hence, The Ashley Place risks running out of operations over poor service delivery. Again, lack of sufficient funds threatens the existence of such establishment as there are no funds to facilitate the training of the personnel (Leyton, 2019)

Potential Sales

The generation of potential sales in assisted living communities is rather difficult (Berman, 2019). Proper economic forces guarantee a strong position for The Ashley Place living community. Lodi area has a rather dense population with the number of residents amounting to 48,000. Moreover, the demand for senior living communities is on the rise, but currently, there are not enough. Thus, there is a greater opportunity for Ashley Place to realize potential sales. The aging population experience diverse health challenges which require specialized attention. Therefore, expansion of The Ashley Place to provide specialized services for the senior population does not face the risk of becoming insolvent. But there would be more need to expand the size and capacity of the facility to handle diverse customer experiences.

Lodi area is comprised of senior individuals who have high rates of income valued at 297,165 USD which is promising as the residents have purchasing power. Moreover, that implies the senior residents have a higher disposable income which can be channeled to other services that are offered by The Ashley Place living community. The addition of diverse services in the living community, such as medical services makes it possible to enrich the lifestyle of senior residents. Hence, this is important to facilitate potential sales by Ashley Place.

References

Berman, C. (2019). SWOT Analysis of an Assisted Living Company https://smallbusiness.chron.com/swot-analysis-assisted-living-company-79057.html

Leyton, D. (2019). 4 Assisted Living Marketing Ideas to Drive Sales Growth. https://www.rickwhittington.com/blog/assisted-living-marketing-ideas

realtor. (2019). 107 Ashley Place Rd, SC 29229 - realtor.com. https://www.realtor.com/realestateandhomes-detail/107-Ashley-Place-Rd_Columbia_SC_29229_M62200-89409