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• The market today & tomorrow• BUT FIRST

The trend continues

BC AB SK/MB ON PQ ATL

-15,000

-10,000

-5,000

0

5,000

10,000

15,000Net Interprovincial migration of seniors, 1998-2012

On a more micro scale

5%

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.

0

100,000

200,000

300,000

400,000

500,000

600,000

Chart Title

But some good news: birth rates, Canada

Trough - 1937

76 today

The size of the pieIncreases for the next 23 years

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.”

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

Are you ^%*&^% kidding me? $4,100 per month! You must be mad.

Really? Then think about $7,000 per month or $8,000

The Maple Leaf Mainlanders (South China Morning Post)

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:

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

retirement communities)

Thank you for your attention!Kate Mancer604 908-8203

mancer@luminaservices.com