How Much Can You Make in the Assisted Living Business?
When we talk to people that want to get into the assisted living business, one of the first questions they ask is, how much money they can make. It’s not an easy question to answer as the amount that can be made depends on many factors, including number of beds, location, and services offered. As […]
Hands-On vs. Hands-Off: Choosing Your Management Style in Assisted Living
One of the critical decisions when entering the assisted living business is whether to be a hands-on or hands-off operator. The level of involvement often depends on the size of the facility and available resources. Here’s what you need to know to make the best choice.Hands-On Involvement for Smaller Facilities:For smaller residential assisted living facilities, […]
Understanding the Limitations of Real Estate Projections
When considering purchasing an assisted living facility, it’s common to receive projections from real estate agents that showcase potential profitability. However, these projections may not always reflect the full reality. It’s important to understand their limitations and do your own analysis. Evaluating Real Estate Agents’ Projections:Real estate agents are often focused on making the sale, […]
Understanding the Financial Commitment in Assisted Living
Starting an assisted living facility is a significant financial undertaking that requires careful planning and investment. Whether you’re looking to start small or go big, understanding the financial obligations involved is crucial. In this post, we’ll explore the range of investments required and why starting small might not always be the best approach. Financial Obligations […]