Site Selection
IDENTIFY AND PRIORITIZE YOUR BEST GROWTH MARKETS
Growth in the not-for-profit world is critical, but finding the optimal potential new location in a region can be cost-prohibitive without an efficient way to rank and prioritize the most likely new markets.
Fortunately, Love & Company now makes the same tools and strategies once the sole purview of large for-profit organizations available for single- and small multi-site organizations. We can apply a cost-effective way to standardize research across a large region, such as a 2-hour drive from the flagship Life Plan Community, that shows the nuances between various submarkets, tailored to the characteristics that match your mission.
Site Selection Process
Using a standardized geography (typically a drive-time), we identify all potential sites in your designated region by tailoring which data attributes are most important for your key qualifying metrics. We then produce visually-friendly site-selection maps and data snapshots that narrow and prioritize the five-to-ten highest-scoring potential markets for your team to discuss and further analyze.
Potential Product Identification
When you need to grow but are not committed to a specific type of product, the site selection process can include an analysis for different product types, such as market rate vs. middle income; entrance fee vs. rental; larger vs. smaller; satellite IL vs. active adult or with vs. without a full continuum.
Narrowed Site Focus
When you identify a site or market to pursue in earnest, our market snapshot provides a fast and low-cost way to make a “go/no go” decision on whether to pursue development. This reflects the shift from a standardized geography to primary market area based on a specific piece of land. If the results are “go,” we can move into a deeper, in-market analysis of the competition, collecting detailed first-hand data that allows us to recommend preliminary recommendations on sizes and types of residences, mix, pricing and programming.
Testimonial
“Love & Company excels at listening and strategic guidance. They are true partners.“
–Ann Pressly, Director of Marketing & Sales, Trinity Landing
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