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Executive SummaryJoy’s Veterans Assisted Living facility will set out to establish a regional, Hudson County, New Jersey (NJ), centralized assisted living facility, capacity of 250 to 300 veterans, where disabled and non-disabled veterans can seek a place to live, grow, heal, and then go on to being independent again. The facility will accomplish this because we owe it to our veterans since they so bravely volunteer themselves to defend the United States and our way of life. Joy’s Veterans Assisted Living facility will accomplish our goals through various in-house treatments for a wide range of issues such as drug and alcohol counseling to physical rehabilitation, while providing food and shelter. The facility will pull most funding from state, federal, and local grants for assisted living facilities, plus insurance companies, specifically TriCare, to cover rest of the expenses. Our near-term goals are to establish ourselves within the Hudson County, NJ community as a place for veterans, form bonds with local healthcare providers to ensure seamless transition of care once our veterans leave the facility, meet local, state, and federal regulatory and compliance standards, and to officially partner with the South Orange, NJ Veteran’s Affair Hospital. Looking in to the future, Joy’s Veterans Assisted Living facility will seek to expand its capacity to 500 to 600 veterans being helped, the facility will also seek to expand services in to having its own pharmacy and care managers and or community outreach programs for external needs/help. Joy’s Veterans Assisted Living facility will offensively position itself for market opportunities as it competing with ten or more other assisted living facilities that serve the general populace and we would also consider taking in patients from across the river in New York City. The necessary capital required for the facility is at the minimum estimate of $5,750,000 for the plans of purchasing property, purchasing necessary items to become a functioning assisted living care facility, funding for the maintenance and supply of day to day operations, advertisement, regulatory compliance, and paying staff members for the first fiscal year of 2019. Our success will be measured by gauging our veterans’ satisfaction with the facility and its staff, staff satisfaction and fulfillment, monitoring the number of applicants we receive in a month, measuring the number of transfers from competing facilities, and tally the number of queries we receive about the facility from our advertisements and word of mouth.Table of ContentsExecutive Summary……………………………………………………………………….iCompany Description……………………………………………………………………..5Industry, Customer, and Competition……………………………………………………5Target Customers…………………………………………………………………………..6Competition…………………………………………………………………………………6-8THE JOY’S VETERAN HEALTHCARE LODGEDescription of Program Services or Initiative………………………………………9THE MARKET…………………………………………………………………………….10-14 Market Strategy Market Challenges Pricing Accommodation Selling Phase Three Approaches Supplementary Marketing Efforts Online Campaign Referral Marketing OPERATIONS PLAN…………………………………………………………………………………………….14 StaffingCRITICAL RISKS…………………………………………………………………………………………………..15-16 Key Risks Higher Vacancies Difficult Financing FINANCIAL PLAN………………………………………………………………………..17 AssumptionsAPPENDIX………………………………………………………………………………….18-22ReferencesCompany Description Joy’s Veteran Healthcare Lodge/Assisted Living Mission: Joy’s Veterans Assisted Living Facility’s mission is to provide compassionate patient care to veterans with seamless coordination between various stages of care and to provide necessary tools and care to ensure unrivaled rehabilitation, patient education, and continuous outreach in the many diverse veteran communities we serve in the Hudson County region. Vision Statement: Joy’s Veteran Assisted Living Facility will be a source of hope, leadership, and professional assisted living facility that will help transform the lives of veterans that we serve through excellence in patient care, patient education, accessibility, patient recovery, and unrivaled compassion.3. Industry, Customer, and Competition Long-Term Care Facilities There are many long-term care facilities in the market, but Joy’s Veterans Assisted Living Facility will be under the facility type category Assisted Living Facility.Description of Assisted Living FacilityProfessionally managed assisted living facilities will typically have rental units marketed to higher-income patients and offer hospitality services, which is similar to Congregate Care or Independent Living facilities. Joy’s Veterans Assisted Living Facility will aim for affordability for any veteran, despite economic status. We aim to compensate lower-income veterans by looking towards state and federal grants so that we may continue to operate without financial worries.Target Customers The targeted customers for Joy’s Veterans Assisted Living Facility are going to be veterans of any war, income, and or health status that are in need of rehabilitation, which will be specially tailored to work with the Veteran’s Affair Hospital in South Orange, NJ. Additionally, we will target veterans that are already in assisted living facilities and their families to show there is a better option. Hopefully, we will also partner with the South Orange, NJ Veteran’s Affair Hospital to ensure that all points of transitions of care will be seamless and smooth for that are discharging from the hospital.Competition Competition for the assisted living space comes broadly from home care and other long-term care concepts such as nursing homes and congregate care homes but the assisted living model has its own place in the picture. We are aiming at a specific niche in this market, veterans, who need further care before becoming independent or need a place to live while become sober. The added services offered by an assisted living facility will offer veterans great value during their recovery period by providing a structured environment. Further, while some of these veterans may not have the need for assistance such as bathing, dressing, light housekeeping, etc, veterans may want to move to this type of facility for reasons that include structure and to establish a group bound again that is found in the military. Within Hudson County, there are several assisted living competitors in the region, only few will be considered direct competitors to Joy’s Veterans Assisted Living Facility: Sunrise Senior Living; Hudson Hills Senior Living; and Alaris Health. The set of competitors essentially varies along four key dimensions of competition: cost, quality of care, quality of facilities and amenities: • Cost is a key consideration in the assisted living space as they are rarely funded by the government, which we will aim to do with partnering with the Veteran’s Affair Administration, and that will leave these competitors as being expensive for veterans. Regardless, assisted living concept is basically a premium service that patients will pay for, assuming they have a high-quality experience.• Quality of care is can be assessed by cleanliness of facilities, quality of food, a high complaint amongst the military, interactions and support of care workers and, finally, the attentiveness and responsiveness of management and all workers.• Quality of facilities is a combination of the location, which Hudson County has some poor areas, the friendliness of the layout, functionality of the buildings and how the building looks.• Amenities refers to the range of services available to make the seniors’ time at the facility more enjoyable. Generally, the greater availability of in-demand services, the better grade the facility will get for this component.Facility City Cost per Month Quality of Care Quality of Facilities AmenitiesSunrise Senior Living Edgewater, NJ $4,550 3 2 2Hudson Hills Senior Living North Bergen, NJ $5,800 4 4 3Alaris Health Jersey City, NJ $4,950 3 2 3Quality of Care, of facilities, and amenities are based on a scale of one to five (1 to 5), 1 being the poorest rating and 5 being the best rating.Sunrise Senior Living Analysis: Looking at Sunrise Senior Living, they have various amenities and services, such as 24 hour a day staff availability, daily physical fitness to spiritual activities, monthly wellness visits by a nurse, weekly personal laundry, social and educational programs for families. Additionally, they have dining services and residential or family meetings on the grounds. Hudson Hills Senior Living Analysis: Hudson Hills Senior Living has an impressive facility design and gardening that is front and center for new patients to see. They offer the same 24 hour a day staff availability as Sunrise Senior Living, but they have also note that they have attentiveness towards medication reminders and dressing services. Uniquely, Hudson Hills has a program called the Individualized Service Plan (ISP), which is developed while meeting the new patient and their family to address their car and daily activities, such as socialization and medication management. Another unique program this assisted living facility has is its Reminiscence Program, which is for seniors diagnosed with Alzheimer’s dementia or other forms of a memory loss. The Reminiscence Program offers specialized programs that provide multi-sensory experiences, daily exercise, outings, group activities, plus, regular contact with animals and children. Otherwise, Hudson Hills Senior Living offers the same services as Sunrise Senior Living. Alaris Health Analysis: Alaris Health is a bit more unique since they offer additional services to that of Hudson Hills and Sunrise. Alaris has its services in behavior health care, ventilator care, dialysis care, pain management, and complex clinical capabilities at hand in the organization. Additionally, Alaris offers similar services and initiatives that Hudson Hills has with its own Alzheimer’s unit and educational programs. (http://alarishealth.com/assisted-living/) 4. Description of Program Services or Initiative Joy’s Veterans Assisted Living Facility is aimed to offer a suite of services. The following are to be included:• Drug and Alcohol Counseling• Physical Rehabilitation• Occupational Health• General Daily Activities (Education/Physical Exercise)• Family and Social Development• EntertainmentJoy’s Veterans Assisted Living Facility takes its vision and mission statement to heart, which is why supporting and offering these services for mentioned will help us accomplish our vision for the future of our veterans. Our services will be offered/provided to our veteran residents in each of our facility wings according to each individual veteran’s needs. In each wing, will have specialized equipment for each category of service to accompany the necessary professionals to reach goals that will ultimately lead to independence. Alternatively, we can offer services in our main dining facility or meeting/presentation areas but, if necessary, we can partner with the Veteran’s Affairs Hospital to outsource various developmental rehabilitation services (physical therapy, etc.) Ultimately, we wish to be an “all-inclusive” assisted living facility that accomplishes time efficient treatments all in house. Trying to outsource certain services adds another element in to the “formula” which might complicate matters for our veterans.THE MARKETING PLANMarketing StrategyThe assisted living community is continuously growing due to the need of the population we will be serving. Veterans nowadays tend to have acquired health requirements and most of them cannot achieve this care by themselves, which has become a burden for many families. Due to this issue, the market for this industry is growing rapidly, with some veterans needing help with their ADLs which is essential for them, transportation to and from doctors’ appointments, etc. The uniqueness about this assisted living is the fact that it is geared towards veterans and there isn’t a lot of them on the market, but to assist with the whole population, this lodge will be open for other seniors who are veterans as well. This facility will help them with their, meal preparations, doctor’s appointments, and daily shopping as needed as well as companionships. This is the target market for the Healthcare Lodge.Marketing ChallengesDeveloping a Veterans Healthcare Lodge / assisted living marketing program has some unique marketing challenges. Consumers either do not fully understand or are confused about the assisted living concept and this is further prolonged by the industry’s use of so many different terms to describe the services as, nursing homes, companion care, independent living, assisted living, etc. There is a timeline for consumer decision-making, normally within a year, so if the marketing information reach the consumers too early, their response is would be that they are not ready for such a drastic change with their living arrangements. Others may need high level of care that is traditionally provided by family, as compared to some who will need total care.To address this issue, Joy’s Veteran’s Healthcare Lodge will use a blend of referral-based marketing and direct sales through veterans programs, trade publication programs, internet marketing as well as direct mail services in the counties and throughout the state. This will introduce the services that we will be providing and how it will fit each individual veteran with their level of needed care.Joy’s Veteran’s Healthcare Lodge will also make use of open houses throughout the community event sponsorships to reinforce its brand and implement itself in the community to ensure that when consumers are ready to make a decision, they’ll know that we will be there for them. Choices will be a real differentiator for Joy’s Veteran’s Healthcare Lodge will form the center piece of the marketing strategies. Consumers will be given a variety of choices in housings, ranging from single-double rooming apartments with different designs and layouts. A provision of nursing cares will be provided, flexible service packages and variety of meal plans and options of ADL supports available as well. Each veteran will have their individual plan tailored to them for better accommodations.PricingJoy’s Veteran’s Healthcare Lodge essentially has two main revenue sources: accommodations and ancillary support services. Our primary services be estimated on accommodations, which will represent approximately 96% of total revenues and this will form the initial focus of the pricing plan. Ultimately, it is projected that ancillary services will bring in additional revenues, but this will be gradual process and will not be the main focus of the pricing strategy. While selling other support services to residents does not denote a new model in this industry, it is increasingly becoming popular, as assisted living facilities are seeking new ways to modify their offering and at the same time capture additional revenues that might otherwise be spent outside the facility. AccommodationsTo be competitive in the state of New Jersey, prices must be set in the $2,400-$2,800/month price range for one-bedroom suites and $3,200-$4,000/month price range for two bedrooms. The average monthly rent for assisted living facilities in NJ is about $4,400 per month, but this is skewed by the much higher rents charged for facilities located in the Tri-State. Joy’s Veterans Lodge will set one-bedroom pricing at $2,600/month and two bedroom pricing at $3,500/month, which places it in the upper mid-range for facilities of this type.The quality of accommodation and service will substantiate pricing in the higher end of the range for assisted living facilities, this Lodge will set its pricing a little lower initially to entice occupancy and to allow it time to build its brand. The expectation is that the Lodge will be able to charge premium prices after its reputation is established and it is better able to distinguish itself from the surrounding competition through other services and overall quality of experiences.The Selling PhaseJoy’s Veteran’s Healthcare Lodge will develop and mobilize an all-inclusive marketing plan about eight to twelve months in advance before the facility opening. The physical launch of the pre-marketing program will occur three to four months prior to opening. This is where the start-up marketing costs will be incurred prior to earning any revenue.Three ApproachesThe marketing efforts will begin by educating the market early and often through a multidimensional program. Education will be divided into three levels:• Building awareness about the assisted living concept;• Communicating how assisted living is an attractive alternative to the consumer’s currentSituation.• Describing how Joy’s Veteran’s Healthcare Lodge offering is different from the competitors.Marketing StaffJoy’s Veteran’s Healthcare Lodge will employ a professional full-time staff who will be responsible for marketing and sales. The marketing launch will be professionally done and well-tailored to the community. Community outreach and management of multiple contacts with prospective residents and family members will be highly recommended for the position. This position will be expected to devote approximately 70% of its time to working with prospects with the balance allocated to strategic networking with influencers in the medical and financial fields (financial planners, accountants, trust advisors, etc.)Three Key AudiencesThe marketing program will be designed to target the three different audiences for assisted living:  The Prospective Resident The Adult child of the resident Influencers (Physicians, Veteran Hospitals, and Rehab Centers.)These three audiences will have different information needs and will require different information sources.  Prospective residents are interested in comparisons with their home environment. Family members are interested in cost and comfort Influencers are interested in competent staff.Supplemental Marketing EffortsCreate an aggressive strategic networking program in the community that will be aimed at introducing the Lodge to prospective residents and people in the community as well as families who are looking to place their loved ones. It will be very important to include a variety of healthcare facilities, civic outreach and other social groups. This can provide potential residents and their families with information about services options.The Lodge will supplement strategic marketing efforts with direct mail or newspaper advertising, especially in the initial marketing stage. Though enquires will eventually come from referrals, this is not expected to occur until after the Lodge has established its reputation as a quality facility.

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