Top Strategies for Maximizing Profit in Your Assisted Living Business

additional income assisted living assisted living business strategies assisted living profitability barber shop assisted living how to make money in assisted living maximize profit assisted living pemf therapy assisted living Jun 26, 2025

Running an assisted living home is rewarding—but let’s be honest—you also want it to be profitable.

How do you boost your income without sacrificing quality care?

Good news! In this blog, you’ll learn the top strategies to maximize your profits, serve your residents better, and grow a stronger business.

Let’s dive in! 🚀

Check out this video, too:

Why Profitability Matters

Profitability isn’t just about money—it’s about keeping your business alive so you can keep serving residents for years to come.
Without enough revenue, you’ll struggle to:

✅ Hire and keep great staff
✅ Upgrade your home and amenities
✅ Deliver consistent, high-quality care

By finding ways to add value and add income, you create a thriving, sustainable home that your residents love.

Strategy 1: Add Specialized Health Services

Offering specialized health services can boost your income and add real value for residents.
One option? PEMF Therapy (Pulsed Electromagnetic Field Therapy).
This cutting-edge therapy helps heal wounds, improve circulation, and manage diabetic complications.

📌 Pro Tip: Before offering PEMF, make sure you understand the proper use guidelines. You can work with your vendor to learn safe and effective practices (email me if you'd like more information!).

Strategy 2: Host Special Events for the Community

Have a beautiful home or a great backyard with a pergola or patio space?
Host small events!

Here’s a quick idea:

✅ Invite other local senior facilities for a gathering
✅ Charge a small fee ($100–$200) for groups to use your space
✅ Build goodwill and earn extra income at the same time

📌 Reminder: You don’t have to host giant parties. Small meetups can be just as profitable—and easier to manage!

Strategy 3: Increase Resident Rent Based on Care Needs

One of the most important profit strategies is to regularly review the care you’re providing—and adjust rents as needed.

Here’s the process:

✅ Every 90–180 days, evaluate each resident’s care plan
✅ If their care needs have increased, adjust their rent accordingly
✅ Be honest, document everything, and communicate clearly with families

💬 Remember: You’re not fishing for extra money—you’re making sure residents pay for the true amount of care you’re delivering.

This protects your business and ensures you can continue providing high-quality service.

Strategy 4: Layer Multiple Income Streams

Don't rely on just monthly rent!
By stacking a few extra services, you can significantly increase your monthly revenue.

✅ Health therapies like PEMF or red light therapy
✅ Event hosting
✅ Upgraded meal plans, private suites, or transportation services

📌 Little extras add up fast—and residents appreciate having more options without needing to leave their home.

Strategy 5: Set Up a Beauty or Barber Shop

Residents love feeling pampered, but traveling out to a salon can be stressful.
If you have the space, bring a beauty or barber shop into your home!

Here’s how it can work:

✅ Hire a local hairdresser to visit once a week
✅ Offer haircuts, manicures, or simple spa services
✅ Charge residents directly or bundle it into their rent

📌 Bonus Tip: This strategy became super popular during COVID when people couldn’t easily leave their homes—and it’s still a huge hit today!

Next Steps: Start Building Your Profitable Future! 🚀

✅ Step 1: Download the Business Plan Checklist to start planning smarter.
✅ Step 2: Need help figuring out where to start? Join the next Roadmap Challenge and build your launch plan with me.
✅ Step 3: Put these strategies into action and watch your profits grow!

Got questions? Drop them in the comments below! ⬇️

▶️ Watch on YouTube

Show full transcript 👇

Transcript

00:00:03
hey friend it is Brandon Gustafson with Assisted Living investing excited to have you here with me on the channel today um in today's video we're going to be talking a little bit about some of the top strategies for maximizing profit in your Assisted Living business so excited to chat with you a little bit about that um and and discuss the topic if you are uh actually let me H share my screen here um add that to the scene okay um so before we get started I wanted to just kind of give you a quick overview

00:00:34
of who I am uh in case you are new to the channel or visiting me here on the Facebook live but my name is Brandon gustofson um but and I want to remind you get over to the to the website Assistant Living investing. netb checklist you can get access to a free business plan checklist we'll have a ticker going across here on the bottom as well um now let me get into my background who I am and why I'm qualified to kind of Coach you and help you out through your process here of of learning to start your Assisted Living

00:01:02
business I own and operate two assisted living facilities and I created Assisted Living investing to help people like you learn the ins and outs of investing in Assisted Living to launch your Assisted Living business in just 12 weeks I own two facilities one in Colorado one in Idaho and I live in Utah so I operate those remotely and have been doing that since 2020 I've also been able to secure over one and a half million in SBA funds so I I kind of understand that process can help coach you through that and help

00:01:32
you uh get get that funding as as you're trying to move forward and and get down the path of of owning your Assisted Living business here in the in the next few months uh I uh let's see I also have a master's in healthcare administration so have a lot of experience in the healthcare industry a lot of experience kind of working through all that running businesses and excited to coach you if you are here live or even if you're watching the replay if you're new type in newbie and if you are wondering how

00:01:59
you can maximize profit and you're an existing owner then make sure that you type in operator down there I'd love to see who is here and watching and uh if you're live uh make sure regardless make sure you type any questions that you have in if I have uh I'll have some time here at the end of the call to uh at the end of the live session to answer some of your questions so type those in if not I will get back to you add them to my queue of videos here in the future so without with all that kind of

00:02:27
housekeeping stuff said let's get into the topic for for today's video I want to talk to you a little bit about um one of these pillars for maximizing your profits um and I'm going to talk about four um here in the video today the first one is diversifying your services so by that uh kind of the things that you would want to to look at here are offering things like respit care uh adult daycare or memory care and really what that is uh rest bit care and adult daycare there's there's some

00:02:58
similarities there and BAS basically what it is um I'm sorry I just realized I don't have my extra light on so let's turn that on maybe that'll help out a little bit from a viewing perspective um what respit care and adult take care are uh is you have residents or you have other people that care for other residents and this could actually be um you could have family that is caring for their loved one and they just need a break and so you offer a service it's called respit care and they come and

00:03:29
they bring um their their loved one to your home for the day um you could offer this for um for a period of time you could do it for a weekl long thing you kind of set it up how you want uh you just have a room dedicated for that person they come in they do Reit care you can charge more for Reit care than you can for traditional Assisted Living you can actually make quite a bit of money off of it so it's a a good option for you and you're providing a lot of the same cares there adult daycare is is

00:03:59
kind of slightly different where you just have regular people coming in but they only come for the day um maybe they sleep with their with their family at night and um but the family works and they can't care for them during the day and so they come in for the day Memory Care is just kind of a step up uh in in care level for your residents but these are all different ways that you can kind of diversify your services and when you're doing that you're creating different tiers of income and different

00:04:27
ways to different um paths to bring more income into your facility and into your home and so these are strategies that you can Implement to help diversify that that income portfolio helping you increase your income and ultimately maximizing profitability now let's talk a little bit about optimizing your occupancy rates and this one is you might be listening to this you're like duh um that makes sense but in reality it's something you want to to to to do your best to to figure out how to

00:05:02
maximize occupancy rates for your facility and there's a few ways to do that one is um creating a waiting list and I hear a lot of people they talk about creating the waiting list as they're getting started you know you want to you want to launch your your facility um but you uh you want to start putting things out about uh about your home before you get started you want to create a wa waiting list so that once you do open the doors you've got a handful of people coming in this is a

00:05:30
great strategy for when you're getting started I I applaud you I think it's great but a lot of people stop building that waiting list once they get to that point because it's been depleted you've brought all the people in that that you need to I think it behooves you to continue building out that waiting list and continuing to build that relationship so even if your beds are full you're able to um have a waiting list so that when somebody leaves because they passed on or they need a

00:05:57
hire lay of care or or for whatever reason reason you've got a waiting list of people to come in this is going to help you keep your census high and and help you um improve your occupancy rates so something that you should definitely be considering there uh in optimizing those occupancy rates the next one is uh is creating kind of a some strategic Partnerships and you're going to do this by network marketing and I've talked about this a lot in in previous videos network marketing is one of the most

00:06:26
important things that you can do when as an owner of an assisted living as as a as an administrator it's getting out into the community and developing relationships with the discharge nurse at the hospital or talking with a rehab center to figure out what um you know which residents potential residents for you might be coming out of the re rehab center but need still need care um and providing that it is a long lead time uh it's not something you don't build those um relationships instantly it does take

00:06:57
time for you to build those relationships but when you are building those relationships and and you're building something strong there the next time they have somebody that needs Services they're going to think of you and whether or not you have availability in your home they're still thinking of you because youve built that relationship with them so this is why it's important for you to build that up when you're doing that when you do have an opening you reach out to them or

00:07:21
they're consistently reaching out to you and it's kind of like having a waiting list without having actual names but you have these contacts that have this this flow of potential residents so it's a huge benefit to you to build those relationships and helping you maximize your occupancy rates inside of of your facility now let's talk a little bit about controlling your operational costs so when you're controlling your operational costs this is going to help you maximize profit because you're

00:07:49
lowering those expenses I've talked about this I'm going to be dangerous here and try to say say it the correct way you have your gross income all the money that comes into you um then you have your expenses and those expenses they go out that net income is is your profitability right that's that's what it's going to be if you want to maximize your profits you have to do one of two things one bring in more income or two lower your expenses and that's what you're doing here you're controlling

00:08:19
your operational costs this could be something as simple as reviewing your expenses we use a service U with with a guy at a company called schoolly Mitchell if you're interested in this i' love to to connect you with him um but he went out and he has saved us thousands of dollars on our waste contract um and he does all the negotiations for it so I don't have to go and and talk to people you could do this yourself you could review your expenses um you could say ah we don't need the subscription um we don't need

00:08:46
this thing maybe I could call um this municipality or call this vendor and see if they would um negotiate a better rate um you can do all of those things by yourselves uh and and it's going to allow to reduce the amount of expenses you have which is going to increase your profitability uh and you can also another thing is you can invest in some energy efficient appliances when you do that you're going to have a a larger upfront cost to to purchase it Lu you own a business and you know you're able

00:09:17
to to make that a business expense which helps you out on in the long run um and then it's going to cost you less to operate you know your electric bill your gas bill those things are going to be reduced because of the energy efficient um items that you have in your home these are all ways that you can all things all strategies that you can utilize to help you control those operational costs and increase your profitability another way is to create some ancillary revenue streams um and this is again kind of like the first one

00:09:50
but it's creating more opportunities for you to bring in more income into the home so you can do this by uh doing like therapy or rehab offering those as Services inside of your facility we use a product called Beamer um it's a pmf technology which is pulsat electromagnetic frequency I think is the f um to do that if you are interested I'm actually I sell those um so if you're interested in learning a little bit more about that then please just comment pmf um down below and we can

00:10:21
jump on a conic and kind of explain to you the benefits of that uh and we can chat about it and uh see if it would be a good fit for you personally or four- year home uh it's a really cool technology helps out as an example uh had surgery on my mouth uh about a month ago and I I run I run a a rehab a therapy session on my mouth on a daily basis it has healed almost completely um you can't see any of the scarring or anything that was on my gums top of my mouth and all those things so really

00:10:52
cool technology uh helps out a lot with residents who are diabetic um and other things there's certain things you have to know um before you use it U just kind of in terms of use kind of a thing but you can work through that with your isent really cool technology anyways if you're interested comment P pemf Below on YouTube or Facebook and I will get back to you a little bit and we can chat about if it's a good fit for you um you can also offer things like a beauty or a barber shop uh where you're

00:11:23
providing these extra services to Residents that want to get it done they don't want to go out somewhere this is actually a really good thing during the co era where people couldn't go out and so you would bring in these vendors to to come in if you have the space in your home for this maybe you have a hair salon space in the home um you could do that you could bring somebody in who's offering these services to the residents and you could either you know include that in their payment or you could say

00:11:48
excuse me you could say this is available for for people um if they would like this service sorry I need to take a quick drink of water as the downside of doing these live is I can't like pause and edit this out um anyways uh you can offer those services and and you could ask for a payment for them um that could be an extra Revenue stream and then another one is special event hosting so if you have a really nice home maybe you've got a backyard with a Pergola or or something like that um maybe you could do little meetups

00:12:23
with um other facilities in in the area they pay you $100 uh to be able to come in and do it um those types of things there's a lot of different ways that you could build that in and then as a bonus tip here sorry I did not get whatever is in my throat out so I hope I oh man one second an extra bonus tip for you um with this is going to be um looking at ways to increase the the rent for your residents and you do that based off of cares you're not fishing you're not being you're not

00:12:59
lying about I'm going to go over here if you have any questions please type those in now and I'll get to them as I'm talking through this bonus um this this bonus tip but basically you are are doing uh you're reviewing the amount of care that you're providing them on a regular basis 90 to 180 days you want to reevaluate what's going on and make sure that they are paying an appropriate amount for the amount of care that you are providing that's really what you're trying to do here and when

00:13:31
you're I'm so sorry uh when you're doing that you're able to create this system in place and and you're going to be able to to charge the appropriate amount for the amount of care that you are providing to that Resident which is what you want to be doing um that's another way that you can increase profitability maximize your profitability in your home so there you go there's five um five quick tips and I apologize for the the throat issue here um but if you're live um if you

00:13:59
have any questions type those in um if you are watching uh make sure you like the video subscribe and ring the bell as well so you get notified when we go and do these live sessions they're happening every Tuesday morning I think next week I've actually got to do it a little bit earlier if you stay tuned to the Facebook page though I will announce what time I need to to jump on um so you'll you'll get notified of that and then if you are on Facebook type in replay and I will be sure to uh message

00:14:27
you with a link to to the Post um to to make sure you get access to to these um if you're not able to make it live uh and just kind of pay attention there and we'll get that out to you so I want to thank you all for watching remind you to get over to the website Assisted Living investing. net you can get our free business plan checklist by going to Assisted Living investing. netb checklist we'll have that Linked In the video down below so you can get access to that uh the calculator if you just go

00:14:53
to the website Assisted Living investing. net you'll be able to get instant access to that calculator as well have a bunch of other free resources on the website and um PID programs as well so make sure you pay attention to those business planning guide the Assisted Living accelerator course all those things to help you on your journey assisted living is here to help you launch your Assisted Living business in just 12 weeks it's it's something I love coaching with people uh was a little bit late for the live today

00:15:18
because I was having an awesome conversation with a uh with a person that is considering doing some coaching with me and I I really enjoyed it so uh excited to have the chance to work with you chat with you if you have um questions make sure you are commenting them down below and uh if if it's necessary we can jump on a call and chat about a little bit I want to thank you for watching thank you for being here spending your time with me this Tuesday morning and uh excited to chat with you in the future thanks for watching and

00:15:46
have a great day

Download Your FREE Calculator

Send Me My Calculator

Stay connected with news and updates!

Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.

We hate SPAM. We will never sell your information, for any reason.