StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Industry review of retirement home industry - Research Paper Example

Cite this document
Summary
This indeed has made the retirement industry a very lucrative business that every investor would like to place his capital input. As much as the industry is lucrative, it is prone to several…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.7% of users find it useful
Industry review of retirement home industry
Read Text Preview

Extract of sample "Industry review of retirement home industry"

Industry Review of Retirement Home Industry Industry Review of Retirement Home Industry The job sector is dogged with escalating numbers of individuals who retire every year. This indeed has made the retirement industry a very lucrative business that every investor would like to place his capital input. As much as the industry is lucrative, it is prone to several factors that are necessary while starting such a business. Thus, it is important to carry out an analysis or review into the industry before any investment is done.

This would help in the turning of the retirement industry into a very successful business venture. Nonetheless, the venture should aim at making profits to the investor, but it must also aim at the provision of quality services to the people in the immediate community (Scaffa and Reitz, 2014). There are two types of retirement industries available to individuals who have attained the age of retirement including the independent and the dependent communities. The independent communities consist of consist of the single family homes, condominiums, duplexes, or townhouses where these individuals live just on their own.

This kind of industry may offer a number of services. These include provision of the recreation services, taking care of the lawn among other services. On the other hand, the dependent industry is bestowed with the responsibility of the provision of housing arrangements alongside other health care services. These constantly change with the change in the needs and the tastes of the community (Hillstrom and Hillstrom, 2002). In the retirement industry market, the communities are expected to increase especially in America to over 77 million in the next two years.

The retirement group is expected to be shopping for the best option in the market regarding housing and health services in the next 2 decades. The venture into the retirement industry requires some capital to help run the facility in one way or the other. Therefore, this industry seems to be centered onto the senior citizens with some sizeable retirement incomes that are adequate to handle the expenses. For instance, in America, the most expensive retirement scheme requires a capital of between $ 100, 000 to $ 1 million (Scaffa & Reitz, 2014).

There has been an escalating trend in the development and the expansion of the retirement industry in the American economy. However, in 2007, there was a recession in the US that spread up to the year 2013. This recession slowed down the growth in the retirement industry. This forced several individuals to delay the retirement due to the dwindling personal assets. There is a growing need for the industry to move to the states with warm weather in America. Conclusively, most retirement schemes tend to move to the states with less popularity of the retirement benefits scheme.

These states include Florida, Georgia, Arizona and Tennessee. This would help in the reduction of the costs incurred when venturing into the business (Hillstrom & Hillstrom, 2002). However, there are a lot challenges that are associated with the retirement industry. There are growing numbers of schemes that resemble the retirement benefits scheme. These may be confusing to the general community. For example, rather than take the conventional ways that the nursing homes took in the ancient days, it would be important to find some retirement schemes that appeal to the consumers who may want to grow upward in the industry through improved services.

It is also evident that more baby boomers would want to live near water bodies or golf courses in order to stay fit both physically and psychologically. The retirees are concerned about their pets, and it is high time the industry decided to provide the pet services (Scaffa and Reitz, 2014). ReferencesHillstrom, K., & Hillstrom, L. C. (2002). Encyclopedia of small business (2nd ed.). Detroit, MI: Gale Group. Scaffa, M. E., & Reitz, S. M. (2014). Occupational therapy in community-based practice settings (Second ed.). Philadelphia: F.A. Davis Company.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Industry review of retirement home industry Research Paper”, n.d.)
Industry review of retirement home industry Research Paper. Retrieved from https://studentshare.org/business/1633436-industry-review-of-retirement-home-industry
(Industry Review of Retirement Home Industry Research Paper)
Industry Review of Retirement Home Industry Research Paper. https://studentshare.org/business/1633436-industry-review-of-retirement-home-industry.
“Industry Review of Retirement Home Industry Research Paper”, n.d. https://studentshare.org/business/1633436-industry-review-of-retirement-home-industry.
  • Cited: 1 times

CHECK THESE SAMPLES OF Industry review of retirement home industry

Analysis of Financial Service Industry

 This review discusses the financial service industry Intersect Investments.... hellip;  In line with its mission to increase market share and to rank among one of the top three investment firms in the industry, Intersect Investments must continue its effort to diversify its product range and service delivery.... Besides having a stronghold in the financial service industry, Citi Corp mirrors the vision and goals of Intersect Investments....
3 Pages (750 words) Literature review

Training and Development Requirement of an Organization

The paper investigates the training and development requirement of an organization and along with that the other tasks include suggesting two key ways in which the proposed teamwork project would affect organizational performance, recommending where the company should set limits on spending.... hellip; Only a few would disagree with the fact that one of the most vital challenges being faced by the third world is the training and development of people....
6 Pages (1500 words) Literature review

Benefits of Alternate and Flexible Work Schedules

 For example, a factory employee cannot work from home and a police officer or firefighter can't prescribe their own work schedule....  This review "Benefits of Alternate and Flexible Work Schedules" discusses evidence regarding the advantages that alternative and flexible work schedules offer both employee and employer.... The review analyses understanding the inner-workings of the practice....
8 Pages (2000 words) Literature review

The Definition of an Airport

The media reported BAA argued that the effort was to ensure the British Airline industry's competitiveness against the major European airports.... eathrow Airport has consistently been under the spotlight from various industry stakeholders.... The paper "The Definition of an Airport" highlights that a substantial amount of research has been done about airports, Terminal 3 and Airline and Operational Management, none provides information about the impacts the opening of terminal 5 has had on the staff managerial structure....
8 Pages (2000 words) Literature review

The Essentials of Business Success

t has become increasingly apparent that competitive advantage rather than industry attractiveness is the primary source of superior profitability” (Grant 2008: 125).... This review tends to explore the influence of the external environment and internal resources and capabilities on business profitability with a major focus on Robert Grant's findings.... Thus, the review discusses the forces that determine the profitability of a firm....
8 Pages (2000 words) Literature review

Crisis Management for the Aviation

he salary structure of the SAT team would be defined and above the industry average.... The essay "Crisis Management for the Aviation" has the main purpose of explaining the Special Assistance Team (SAT) which would be to assist the firm in case of an emergency that is an airline accident....
7 Pages (1750 words) Literature review

Collapse of Car Manufacturing Industry

… The paper "Collapse of Car Manufacturing industry" is a great example of a literature review on engineering.... The paper "Collapse of Car Manufacturing industry" is a great example of a literature review on engineering.... Therefore, the discussion provides reasons for the collapse of the industry in Australia arguing that the policies in the country are the dominant reason for the demise of the industry.... Car industry in Australia The high ratio of car ownership in Australia forms a viable domestic market for the vehicle manufacturer as addressed by Ustun et al....
6 Pages (1500 words) Literature review

Effects and Facts of Climate Change

This paper "Effects and Facts of Climate Change" examines climate change as one of the most hotly debated issues in contemporary society.... Climate change refers to a permanent change in weather patterns, which are significantly different from historical weather patterns.... hellip; In most cases, Climate change is manifested as extreme weather conditions or shifting of seasons....
8 Pages (2000 words) Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us