How Can You Make Money in Residential Assisted Living?
Assisted Living Network's Podcast
Release Date: 07/31/2018
Business Plans For Opening An Assisted Living Home
Assisted Living Network's Podcast
The number one reason to have a business plan is for you, so that you have clarity of vision of who you are, what you're doing and where you're going. The second reason for a business plan is to help raise capital. No private investor or a lender is going to give you the money you need without a business plan.
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Transforming Your Home Into Senior Housing
Assisted Living Network's Podcast
You can turn your home into senior housing anywhere from independent living up to Assisted Living. Independent living is senior safe. I mean grab bars, smoke detectors, wider doors, trip hazards removed. That home itself maybe has four bedrooms.
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You Don’t Have To Be The Caretaker Yourself
Assisted Living Network's Podcast
As our family ages they start to need more. Their independence is gone and they don’t want to admit that they may not be capable emotionally or physically.
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Assisted Living Explained
Assisted Living Network's Podcast
A long time ago Assisted Living meant a big institution. Today it is completely different. When you think about living at an Assisted Living home, it has all of the comforts of home and there's other people in that home.
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Marketing Offline Helps Build Personal Relationships
Assisted Living Network's Podcast
Offline Marketing is having brochure, flyers and business cards. The brochures should match your website and your online presence. You only get one chance to make a first impression.
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Hospice - Who Really Pays For It?
Assisted Living Network's Podcast
Hospice provides benefits for people at end of life care.The money that pays for it is provided through the government, which comes from our tax dollars.
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Are Mom And Dad In A Home You Feel Good About?
Assisted Living Network's Podcast
You probably haven’t even considered putting mom or dad into a home. You just got to a point where it was harder than you thought and you didn't have the time, the skills or maybe the heart.
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3 Things I Wish I Knew Before Starting In Assisted Living
Assisted Living Network's Podcast
Learn from other people's success. Learn from other people's mistakes. Learn from other people's experience who's actually doing it, not just talking about it.
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Making Money Or Helping People - Do You Have To Choose?
Assisted Living Network's Podcast
20 years ago when we first heard about assisted living, we all heard about the silver tsunami that was coming.They were sharing it from the business perspective but there was nobody there to show how it's done.
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RAL Isn’t Easy, But It’s Worth It
Assisted Living Network's Podcast
You're going to work at something, you're going to get good at something, the question is what. And what are you willing to do in order to get the return that you say that you want?
info_outlineEverybody wants to know how to make money in Assisted Living. There are three best ways to get started right now for you to make money. First, you can own the real estate, lease it to an operator. Two, you can just operate the business. The business itself is the ability to bring in those residents and caregivers. You're going to pay rent to somebody else in their real estate, but the business itself is incredibly profitable, or operate the business and lease the property from somebody else. The third way is both, own the real estate and operate the business. The entity that operates the business leases the real estate from this entity over here. We own the real estate, get the tax benefits, and over here on the business we had the operating entity that pays rent to leasing it from.
There is also bonus way number three, and that would bring those residents in the home and they're paying to live there. They contract out for their care. You have a high occupancy rate and tenant that's paying you but they're contracting separately outside of your company for the care that they need.
There's lots of ways to make money with assisted living. The key is to get started.