Introducing FCSN Senior Facility Project Discussion on Senior Housing And Business Operation
Long-term Goal To be a profitable and sustainable business that provides cost effective general public senior housing facility Project will also provide an opportunity for FSCN community as an investment vehicle, and self (investor) occupied facility
Business Operation and Capital Investment Questions (1) Type of senior housing: Focus on assisted living with: Drug management Memory management Nursing support Food service (on-site bistro/restaurant) On-site retail space for physical therapy, medical office, etc Independent living facility close by, but not associated with the assisted living facility
Business Operation and Capital Investment Questions (2) Detail cost structure of senior housing: Capital costs: Building/land (importance of location?): Cost per sq ft? Optimal total square footage for operation? (e.g sq ft per room) Are there scaling penalties? (if we go smaller or larger than the optimal, are there penalties either way?) Equipment cost: Specialized furniture for different type of accommodations? Cost per room (sq ft)?
Business Operation and Capital Investment Questions (3) Recurring costs: Staffing costs: Average total per month Average for specific field: On-site nursing Care giver Food service Janitorial Office staff (facility manager, office manager, etc) Maintenance costs: Building maintenance (per sq ft) Utilities Transportation (shuttle service) Insurance Staff training
Business Operation and Capital Investment Questions (4) Income: What are the prevailing rate for comparable facility: Average per resident? Average per sq ft? What is the industry norm in terms of ROI? What is a reasonable rate of return? What are the major business and governmental regulation hurdles? How is the competition?
Senior Facility Survey Questionnaire