| Organization: A family of senior living care-oriented organizations in Dallas. | Need: Understand strategic opportunities to expand and diversify their service lines. | Outcome: Growth enabled Forefront Living to boost net income and occupancy rates. |
Understanding the situation
In the heart of Texas, Forefront Living’s mission is simple: to make each moment matter for the older adults they serve. The senior living industry, however, faces a significant challenge — the demand for senior living development and housing options outpaces the available supply. Forefront Living found itself at a crossroads a decade ago, with just three campuses, a new management team, and financial hurdles to overcome. Forefront Living leadership quickly realized they needed to expand and diversify.
Get strategic insights to help determine your growth potential.
Exploring the challenge
Before Forefront Living could make strategic growth decisions, they needed more information. CLA’s senior living team provided financial feasibility analysis and market studies, helping the leaders make informed decisions about potential expansions and acquisitions. And the team’s extensive knowledge of the senior living industry allowed for further benchmarking and comparison.
The collaboration extended beyond numbers, with CLA educating Forefront Living's board to strengthen decision-making and then integrating into the Forefront Living community to foster deeper connections with leadership, staff, and residents.
If we didn't have CLA's name on a feasibility study, I don't think we would be able to have as many investors interested in the project. — Steve Ailey, Chief Financial Officer, Forefront Living
Achieving results
With CLA’s consulting help, Forefront Living made strategic decisions to transform its organization.
After completing the senior living developments, Forefront Living has grown through good, sound management, with a positive net operating income of approximately $7.5 million and increasing liquidity from $5 million to nearly $60 million. Occupancy rates soared, transitioning from an average of 70% to having a waitlist of over 50 individuals.
More important, it strengthened its mission, vision, and values across new and existing communities.
Forefront Living's journey from a health care-focused organization to a diversified, thriving senior living community provider exemplifies the power of strategic collaboration and vision.