Feels Like Home is a unique take on adult daycare, which will be located in the city of Walnut Creek, CA. Our main objective is to serve the aging Baby Boomer population who are in the age of 65 and older, who meets all regulatory guidelines as outlined in the California Code of Regulation, Title 22, Division 3, Subdivision 1, Chapter 5. Our day support center will operate 6 days a week, and welcomes all geriatric customers who are in need of nonmedical assistance such senior assistance, and social interaction among other elders who seek an active and healthy lifestyle. Business operation will start from 6:00 am to 6:00 pm, Monday to Friday, and Saturday from 7:00 am to 3:30 pm. Today, many of the geriatric population are struggling to live life independently, and while some reside with their family member, they too have an obligation to work, and may not be available to aid the elder customer 24 hours a day. Feels Like Home can provide the safe and nurturing atmosphere for our elder customers while we foster the importance of independence with our geriatric community without imposing care from busy family members. Our services will include, but not limited to: * Seminars on legal concerns and aging issues pertinent to our customer’s needs.
* Social interaction with other elders.
* Dining options
* Personal assistance with personal tasks.
* Involvement with local community services
* Accompanied visits to medical appointments with transportation.
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At the moment, Adult Day Support Centers cost are not reimbursable by Medicare or Medicaid. The cost for our services will be $25.00 per day, or they can enroll to our support center for $600 a month. We understand that each customer is unique, that is why we strive to maintain staffs that are caring, compassionate and empathetic to your personal need.
Strategic Focus and Plan
This segment will discuss the importance of Adult Daycare Support Centers and why it makes a lucrative business. The three areas that will be discussed are: (1) mission statement, (2) Goals—highlighting both financial and non-financial reports, and (3) core competence and sustainable comparative analysis.
Mission Statement
Our mission is to provide a quality community program that offers social, recreational and wellness actions that encourage active living in a group setting offering participants the chance to socialize and relish their time with their peers. Promoting the beauty of aging to the geriatric population allows being independent when simple task needing assistance must be done. Eliminating the responsibility from family members who cannot tend to their loved 24 hours a day. Our services are also extended to customers who reside distantly from relatives that require assistance with functionality and support to daily living. By allowing our elders to function self-sufficiently, we take the shame of growing maturely and opportune aging process graciously.
Goals
Feels Like Home ADSC seeks the following goals within the next few years: Financial
1. To obtain a real estate property within the Walnut Creek area. 2. To break-even in profits to ensure no net loss is incurred. Non-Financial
1. Maintain quality care that will bring more clients to our service. 2. Establish a good reputation of great service so that our services will be the customer’s first choice and not just an option.
Core Competency and Sustainable Competitive Advantage
Currently there are 14 active adult day care services available in Contra Costa county where Walnut Creek is located, but Feels Like Home ADSC has a diverse competitive advantage over daycare centers in the area as we are the only who focuses more on the welfare of our customers to prevent further deterioration of aging. While many of our competitors are strictly involved with care, our ADSC is dedicate to deliver the highest quality of service that emphasizes the importance of independence and maintaining the present health of our customers by endorsing wellness activities and active lifestyles. Keeping our clients involve with the community so that they never feel alone. Being in the central of the county and having such exceptional neighborhoods within Walnut Creek, our customers will have limitless of activities keeping them busy while they are in our care. With the various health providers and prominent hospital in the area such as Kaiser Permanente and John Muir Health Center, our staff will do their best to work closely with the senior services coordinator of the community to help form a network of individuals who are aligned with our vision.
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Situational Analysis
In able to effectively promote our services, the SWOT analysis will underline our services Strengths, Weaknesses, Opportunities and Threat currently in the market. The table below will summarize the internal and external factors that can influence our strategic business planning.
SWOT Analysis
Internal Factors| Strengths| Weaknesses|
Management| * BS Business Management Degree, focusing in Health Service Management * 6 years of personal experience working in hospital setting both inpatient and outpatient. | * Lack of experience may pose a challenge with the geriatric community.| Offering| * Unique service customized to personal need. * No obligation to enroll to our service if not needed. | * Personal customization may cause high demands from customers for a low price.| Marketing| * There is 26.6% of the total population in the target median age. | * The demand to coordinate with different senior coordinator to get our services out to the market.| Personnel| * Small workforce who are dedicated to provide quality service.| * Will need reliable individual to maintain the quality of service endorsed to customers.| Finance| * Expected growth of the baby boomer generation may bring lucrative resources. | * Limited financial resources will restrict the luxury transportation and office building.| External Factors| Opportunities| Threats|
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Based on many researches, surveys, and studies conducted recently, the early intensive intervention method showed a significant outcome for children having autism. The behavioral approach as intervention on preschoolers with the said disorder showed an affirmative short- and long-term effect (Anderson, Avery, DiPietro, Edwards, & Christian, 1987; Fenske, Zalenski, Krantz, & McClannahan, ...
Consumer/Social| * Aging Baby Boomer population is rapidly increasing needing the demand of social interaction, care and attention. * Social interaction can reduce the risk of anxiety, depression and isolation.| * Limited income of geriatric community may limit access to our services| Competitive| * Unique services focusing on the wellness of elders to preserve their current health and prevent further deterioration from old age. * Currently there is no ADCS like our service in the area. | * Currently there are 14 daycare services for adults in the area. * Non-medical services may limit the consumer market.| Technological| * Service requires very little access to technology since most of the services provided will be customized to their personal needs. * * The baby boomer generation has witness the various changes to the social medias sources such as the Internet, E-mail, etc. | * Lack of knowledge of new technology such as Internet and gaming devices that can enhance memory may limit elder’s social activity.| Economic| * ADSC is within affluent neighborhood where family members are capable to pay the fee for our services| * At home care may be provided if Medicare reimburses their cost. * Currently Medicare does not cover any ADCS.| Legal/Regulatory| * California Code of Regulation, Title 22, Division 3, Subdivision 1, Chapter 5. Sets the parameters of Adult Daycare Support Center| * Services will be limited to nonmedical services, as many of our employees are not certified nursing aids or registered nurses.
Consumer Analysis
Feels Like Home Adult Day Care is targeted for those individuals who are at the median age of adult day who seeks an active lifestyle and interactive social function with others. Often times, limited income may cause the aging individual to reside with family members but still prefer to preserve their sense of independence and does not wish to intrude to their family member’s current daily schedule and lifestyle. At the moment there are 14 day care facility in the county of Contra Costa, but none of them add up to the unique services we provide at Feels Like Home, featuring both a monthly enrollment or drop-in service ensuring safety and comfort of our customers at all times, giving not only the customer excellent service, but also the peace of mind to their family members who cannot fulfill full-time care due to other responsibilities of life. Another factor to consider is the natural aging process leaves many individual to suffer the difficult task of adjustment in the fast changing environment bringing confusion, anxiety, tension and depression when conflicts do not satisfy their basic level of needs. Feels Like Home can eliminate any psychological pitfall of aging as we can provide a social outlet for the elderly to interact with their peers, among other fun classes and activities like arts and crafts, singing, dancing, cooking, monthly excursions, etc., giving them the sense of joy, happiness and fun memories to relish forever. Industry Analysis
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Since our services are limited to non-medical services, major competition such as adult daycare healthcare facility can cause major competition to our services. Our office hours may also restrict the availability of care to our consumers. However, our main goal is to foster independence and uphold the customer’s dignity by allowing them to function by themselves with limited assistance. The 2010 US Census data accounts for 65,211 total people residing in Walnut Creek, which 26.6% accounts for the primary target group in Walnut Creek in the median age of 65 and older. With supportive and active atmosphere to our clients, safety and comfort of functioning by themselves will reinforce independence. Moreover, the peer interaction and social outlets we provide can greatly reduce loneliness and isolation of target consumers, which will combat the declining causes of aging. Market Size
Survey within a 25-mile radius of the surrounding area suggests a sizeable focus of the aging baby boomer that are at the ripe age of 65 years of age who accounts 26.6% of the city population.
Data Source
Listing various data sources in the table below will develop Feels Like Home’s marketing plan.
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Information I need to Complete Marketing Plan| Source of Needed Information| Priority| Market Size| www.census.gov (website)| 2|
Information about how to price products| Marketing, 9th Edition (textbook)| 1| Demographic Data about target market| www.census.gov (website)
Service Strategy with Point of Differences
Feels Like Home adult day care services are humble and true to its intentions. The table below summarizes the market segment of possible clients highlighting one or two point of differences of our services guaranteeing satisfaction of our main consumers. MARKET SEGMENT| POINTS OF DIFFERENCES| NEW PRODUCT CONCEPT| Individuals needing social interaction.| * Feels Like Home will be serviced in the heart of Walnut Creek where there are plenty of leisure activities, shopping and community events. * Feels Like Home can serve as a place where new friendships can be built.| Social Events for adults than can bring revenue to the company, while the customers meet people and socialize with them. | Adults who needs assistance with simple tasks.| * Personnel working the ADSC will have sufficient knowledge to operate computers who can provide assistance with bill paying and other tasks that require computer use. * Assisted visit to the stores can be provided if needed so that simple tasks such as running errands will be achievable independently.
Chaperone services with simple tasks such as grocery shopping will put elderly patients at ease and will provide them the sense of independence. | Aging an individual who does not want to impose any difficulties with their family members.| * ADSC will act like any other daycare service that provides assistance, care, and meals while participating with our day services. * We are the only daycare service within the limits of Walnut Creek that offers drop in or enrollment option. | Classes that offer guidance to aging beautifully as well as health and financial issues that most elderly patient, face today. | Individuals seeking a way to get involve with the community.| * Community involvement will be highly encouraged. * The opportunity to give back while keeping themselves busy and active with community events. | Partnerships with local organizations within the community like the church, hospital and other senior program that host events for the public.
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Product Life Cycle
Feels Like Home Adult Day Care Services is a new concept and is well within its introductory stage. The primary goal of our company at this early stage is to promote our services creating awareness, and enough market stimulating to demand our services. As a new service daycare provider in the area with a unique twist to traditional daycare facilities within the area, coordinating with various senior services in addition to assorted local organization can bring added benefits to the marketing, advertising and promoting our services to attain full potential of our business. Using flyers, brochures and attending different local community events will help raise awareness of our services, as well as printed ads in local papers will pave a way for our business to get out there and market itself to our target market.
Branding Strategy
The name attached with company is fairly simple and is relevant to what majority of the elders seek for. A sense of feeling like home while they are away from home. Creating a pleasant environment where friendship can flourish and grow with other elders seeking the same care, attention and concern. By choosing a name where most people can associate with will help construct interest and awareness to our target markets. With the approval of the City of Walnut Creek, Feels Like Home will be a legal business entity that will allow consumers to recognize our unique type of services that accommodate to individual consumer’s needs.
Pricing Objectives
* Survival—Although this is not the wisest choice for a pricing objective, dedicating quality service to the aging community will attract consumers to our services, making our services a leading choice for our target segment, rather than an option to what they can afford. * Social Responsibility— Most people belonging in the geriatric community has limited income, usually a pension form social security, and funds from their retirement, savings, or family members caring for them. For this reason, we place a priority to placing quality service at a reasonable price that either an elderly patient or a family member can afford without breaking their pockets.
Pricing Constraints
* Price susceptibility of the market – Reasonably pricing our services that are fairly priced based upon the market value. * Number of competitors in the market – Currently there are 14 daycare services within the Contra Costa County, but there is none in the area of Walnut Creek, CA. * Service Newness – Staying aware of possible competitors and the array of services that they many be offering to attract our possible customers will allow us to counter their marketing strategy.
All figures calculated are based upon the number of participants needed for Feels Like Home to break even in its first year of business. It must earn a total of $276,480 in service revenue.
Price Modification
Considering the demand of cost, profit, and compensation will determine how we can modify the prices for our services. Our competitive cost of services will allow us to offer a 10% discount to each participant who pays in full at the end of the day or beginning of each month, allowing our participants to enjoy added benefits of our services as we also continue to grow within the community. Another incentive we can offer our participants is crediting their account $9 for each new member their successful refer to our services. New pricing information would entail: Daily fee = $64.80
Monthly fee = $324.00
Loyal customers can also enjoy added an added discount of 10% off the previous month’s service fee, up to 3 consecutive months and from then on, service price will be grandfathered in to the 3rd month’s pricing option. Added Discounts for Loyal Customers
Monthly Service Fee= $360.00
1st monthly pricing option = $324
2nd monthly pricing option = $291.60
3rd monthly pricing option = $261.44
Break-Even Analysis for Modified charges
1ST MONTHLY PRICING OPTION:
P = $324.00 per month
FC = $15,000.00
UVC = $125.00
BEP = [FC / (P – UVC)]
$15,000.00 / ($324.00 – $125.00/ customer)
$15,000.00 / ($199.00/customer)
75 customers
BEP Revenue = 75 customers x $324.00 = $24,300
BEP Revenue = 75 customers x $324.00 = $24,300
2ND MONTHLY PRICE OPTION:
P = $291.60 per month
FC = $15,000.00
UVC = $125.00
BEP = [FC / (P – UVC)]
$15,000.00 / ($291.60 – $125.00/ customer)
$15,000.00 / ($166.6/ customer)
90 customers
BEP Revenue = 90 customers x $291.60 = $26,244
BEP Revenue = 90 customers x $291.60 = $26,244
3ND MONTHLY PRICING OPTION:
P = $261.44 per month
FC = $15,000.00
UVC = $125.00
BEP = [FC / (P – UVC)]
$15,000.00 / ($261.44 – $125.00/ customer)
$15,000.00 / ($136.44/ customer)
110 customers
BEP Revenue = 110 customers x $261.44 = $28,758
BEP Revenue = 110 customers x $261.44 = $28,758
Final Prices
After calculating the break-even analysis with the 3 pricing monthly options, I have decided to bill our customers on a monthly basis rather than daily. The final charges for our services will be $291.60 per month. Charging our customers with a median price will allow us to reach our break-even profit at the end of year, leaving us money left for net income that may be used for employee bonuses or towards achieving some of financial goals.
Target Audience
Currently working in the healthcare industry gives me great privilege to work with some elderly patients who are more than willing to share their input of their social and physical needs at their age. The lack of social interaction amongst peers their age can often them lead them to isolation resulting in depression and anxiety. Others may be grieving due to a loss of a spouse or loved ones. While many of them require limited assistance getting to and from their appointments and other errands. All of the acquired information that I have gathered is very useful in starting out Feels Like Home. The main target audience for our services will be: * Individuals who require limited assistance but wish to maintain their independence. * Individual needing some social interaction from peers and community involvement. * Individuals who are mentally coherent but has mobility issues that may impede with living independently, thus requiring some assistance during the day when their loved ones are unable to care for them while they are at work.
To fully define our services to our target audience, Feels Like Home has developed a few hierarchy of effort to serve as a guideline to our promotional objectives. The following stages we wish to implement with our promotions are * Build Awareness- One of the main reason why promoting our services is critical is to build awareness within the senior community about our services. * Interest- the services we offer at Feels Like Home will be different from traditional senior assisted living centers. Though we will act as a daycare service, we will also offer referral services and assistance to our customers that our non-medical related. In able to reach target goal to maximum extent, our services will require funding to implement the stages two of the hierarchy of efforts, which are to build awareness and maintain interest of our market. Using the “All You Can Afford Budget” will serve us the best options in maintaining a reasonable price for our services, while also covering all cost and expenses to keep the business operational. This method of budgeting will ensure that all take account all expenses before we allocate any funds for sort of integrating marketing communication to our market audience.
In doing so, we can keep our cost down, but also eliminate any unnecessary expenditure on lavish advertisements that does not serve a purpose to our developing promotional objectives. Successfully communicating our goals to our market can be achieve using promotional tools such as the combination of advertisement and personal selling. The use of advertisement can evoke emotions such as excitement to meet new friends, happiness to have a sense of belongingness, etc. to those individuals who are seeking a way to stay active and young at heart. Another tactic we’d like to utilize is the use of personally selling our services by attending health fairs and also making connections with local senior services centers within the community of Walnut Creek and Contra Costa County. Feels Like Home Adult Day Care Service has many objectives to remain successful in its first year. Our goal is to have no less than 125 customers who enlist to our services in a monthly basis. Meeting this goal via promoting our services will allow us to meet all cost and expenses to operate our business, with a net profit of $91,800. Evaluating and monitoring sales and number of customers enrolled with our services is crucial to determining if special action are needed to rectify divergences and while also seeking new ways to introduce new promotional objectives at a reasonable price within budget. Promotion Strategy
To minimize cost but also ensure quality service, Feels Like Home will allocate $1500.00 semi-annually for allowances, discounts and direct marketing to our customers. This budget will account for various channels of media to strategize our promotion to the public: * Newspaper- using a newspaper is a great way to communicate and introduce our services to our target audience. Many individuals at our target age group are familiar with newspaper ads in comparison to the younger generation who are from incline to use electronic forms of media for information. Running a small ad about our services, locations, happenings and events with our contact information is an excellent way to get our service known to the general public. * Yellow Pages- For a longer life span of our information, placing an ad in the yellow pages will serve us the purpose of communicating our services and contact information. * Internet/Social Media- is a new way to communicate to the public.
Having a webpage that has local events and happenings will attract customers to join the festivities to come with our services. * Flyers/Brochures- The use of printed advertisement that can be distributed to local community hospitals and senior centers that can serve new customers an alternative to assisted living and costly senior housing options. * Referral Program- Offering a $9.00 discount for each new customer referred to our services is a great way to gain new customers. It’s also a great way to network our services within the community of our target market segment. Carefully placing our advertisements and promotions will hopefully bring more business for our services. All of our promotional strategy will require that an evaluation and assessment be performed to measure the success of each promotion. All methods of distribution my promotion will be applied to my pre-test and post-test procedures. The following promotional activities will be noted on the following dates: Promotional Strategy| Date|
Newspaper Ad| May 2013|
Flyers/Brochures| May 2013|
Grand Opening Feels Like Home Adult Day Care Services| June 2013| Friend/Family Referral Program| June 2013|
Yellow Pages Advertisement| August 2013|
Customer Satisfaction Survey| Early November 2013|
Employee Satisfaction/Suggestion Survey| Mid November 2013| Reassessment of both surveys| Mid December 2013|
Customer satisfaction and employee suggestion surveys will assist our pre/post testing procedures to our promotional strategy. Evaluating and reassessment of our services, but most importantly our promotional status to our customers in a semi-annual basis will ensure that we are effectively communicating the public of our services, and that our name brand is true to our word. Organization
Though Feels Like Home will be a family business, Anarose Quibote will be the sole owner and proprietor of the business serving the local residents of Walnut Creek and neighboring communities within the area. I will make important decisions concerning operational, personnel and management, and services we offer at the highest quality of compassion, empathy and kindness to both customers and employees alike. This can only be achieved by working from example for our employees to follow. Working along side with the employees, and long hours to make our name brand known for its stellar service to our target audience is my top priority. During our grand opening of service, I will have eight staff including myself that will work alongside each other to deliver quality care and service, in hopes that our over-all quality of work will be satisfactory and meet all expectations of our customers that may bring more business to our facility.
Evaluation and Control
Feels Like Home is equipped to assist at least 125 customer for the first year on a monthly enlistment plan offering an array of services that can best accommodate to their unique needs. Our facility will have a net profit of at $91,800 after all cost and expenses. Our goal is to evaluate both the customer satisfaction and gather all employees’ suggestions semi-annually to better improve our marketing technique and monitor growth of our business, and make adjustments to the weaker areas that can benefit from improvement and further opportunities.
Possible Deviations
Feels Like Home may face several critical factors that may deviate the success of our business:
* Customers needing more extensive attention that relates to medical care that we cannot offer at our facility.
* The demand for our services may not be enough to keep the business operational.
* Family members may want to have longer hours of operation for business.
* Unsatisfied customers with our quality of service.
Possible Solutions
Feels Like Home has drafted an action plan in an event that a possible deviation may occur. The following solutions are: * The lack of demand of our services will be our biggest challenge, to counteract this possible deviation; hosting a community event that can help us recruit new customers will be helpful. At initial sign on, offering them a discount will be a great incentive to build awareness and maintain interest of our services.
* Practicing active listening to comments, suggestions and inputs will always be enforced so that customers get a sense that all their opinions matter and are valued.
* Unfortunately at this time, we cannot offer any medical care as that will require that we acquire a state license, however developing a close relation with the surrounding community centers and senior services will allow us to better refer customers to fit their special need.
* Once a month we can offer a date night, which will offer longer hours to family members who wish to have extended hours available to them.
Bibliography
Adult Day Health Care Center, California Medical Assistance Program, Health Care Services –Manual of Policies and Procedures (CCR, Title 22, Division 3, Subdivision 1, Chapter 5).
Adult Day Health Centers, Licensing and Certification of Health Facilities, Home Health Agencies, Clinics and Referral Agencies. (CCR, Title 22, Division 5, Chapter 10).
How to Obtain a Business License in Walnut Creek. (n.d.) Retrieved November 24, 2012, from City of Walnut Creek, http://www.walnut-creek.org/services/business/default.asp United States Census Bureau. (n.d.) Retrieved on November 9, 2012, from http://quickfacts.census.gov/qfd/states/06/0683346.html Fettig, E. R., & Riegel, D. R. (1998).
Adult Daycare: An Entrepreneurial Opportunity for Nursing. Nursing Economic$, 16(4), 189-195. Keane, B. (2005).
The death of culture change?. Nursing Homes: Long Term Care Management, 54(11), 30-32. Kerin, Roger A., Berkowitz, Eric, N., Hartley, Steven W., and William Rudelius. (2009).
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Study Counts The Years, Asians Count The Reasons. New York Times. p. 1.
