Did you know that one of the most important aspects of starting an assisted living business is obtaining proper insurance? Insurance is more than a legal obligation; it's a safety net shielding your assisted living business from unexpected financial constraints caused by accidents, natural...
Onboarding a new resident at your assisted living facility is critical for both the resident and your business. It is more than just a formal protocol; it is the foundation for establishing trust, maintaining compliance, and providing excellent care. Every step you take during this process has...
This blog will discuss the costs of opening an assisted living business in 2024 and beyond. Starting an assisted living business is a substantial enterprise with financial advantages and the potential to influence the lives of seniors and their families meaningfully. However, determining the...
Welcome to today's blog, where we'll discuss an important topic for everyone working in the assisted living industry: the actual minimum wage for caregivers. Hiring the right employees is one of the most important steps in running a successful assisted living home, and understanding compensation...
In today's blog post, we'll go over ways to guarantee your assisted living facility is correctly zoned for its location. This is an essential phase in running a successful residential assisted living facility. Navigating local zoning laws can be difficult, but understanding these requirements is...
Let's look at an important question for new entrepreneurs: Is assisted living a scalable business? As the demand for senior care grows due to an aging population, the assisted living business presents an appealing opportunity. Understanding scalability is critical for long-term success, whether...
Private money can be a vital funding source for your assisted living business. When you leverage private money, you receive funds from private individuals or groups willing to invest in your venture. For instance, private lenders might offer interest-only loans for a short term, typically 12-18...
Hello everyone, Brandon Gustafson here. Owning and operating two assisted living facilities has given me firsthand insight into the multifaceted role of a facility administrator. Today, I want to take you through a typical day for an administrator and the essential tasks they handle, which...
Starting an assisted living business can be fulfilling and profitable, but it requires meticulous planning and preparation. Creating a comprehensive business plan is one of the most crucial steps in launching your assisted living business. In this blog post, we'll guide you through writing a...
Today, I'll be discussing a crucial topic for aspiring assisted living facility owners: How much does it cost to start your own assisted living business? You're in the right place if you're eager to achieve financial freedom through this venture.
Options for Starting an Assisted...
Navigating the complex terrain of securing grants for assisted living facilities can be daunting. However, with the right approach and resources, it is entirely feasible. In this blog, we'll explore the insights shared by Brandon Gustafson, an experienced professional in the nonprofit and...
Medicaid can be a vital revenue source for your assisted living facility. When you have Medicaid residents, you receive payments from different channels, primarily through a daily rate and a resident's Social Security contribution. For instance, you might receive around $100 per day per resident...
