If operators hope to be successful in the senior living industry, they must understand that it is a “problem business.” The Springs Living CEO Fee Stubblefield emphasized this point, noting that residents typically come to senior living communities seeking solutions to their problems. As a result, there are inevitable “friction points” that demand a specific mindset from operators. Stubblefield likens this mindset to that of a farmer cultivating a field rather than an industrialist mass-producing widgets.
During a recent episode of the SHN Transform podcast, Stubblefield highlighted the importance of playing the long game and being prepared to weather challenges that are beyond one’s control. He pointed to the example of Walmart withdrawing from the health care space, citing the company’s vast resources but lack of appropriate mindset or expectations for the business.
Stubblefield delves into the intricacies of senior living ownership and management in his recently-published book, “A Culture of Promise.” The Springs Living, based in McMinnville, Oregon, is seeing positive trends in occupancy and margin growth in 2024. The company is forging ahead with ongoing development, with their latest project, The Springs at The Waterfront, nearing completion. The 12-story community boasts approximately 250 state-of-the-art units overlooking the Columbia River. Stubblefield emphasized the importance of attracting quality staff and residents to ensure the long-term success of the building.
Throughout his podcast appearance, Stubblefield discussed the challenges and opportunities facing The Springs Living in 2024. He emphasized the need to confront the inherent problems of the senior living industry and maintain a positive mindset to overcome obstacles. The company’s latest development represents a significant investment aimed at attracting the next generation of residents with cutting-edge technology and desirable living spaces.
