Starting an assisted living business is exciting, but before you welcome your first resident, you need to protect yourself legally. Choosing the right business structure is one of the most important steps to keeping your assets safe and your business running smoothly.
Should you go with an LLC? An ...
When it comes to assisted living, you have two main options: big-box facilities and residential care homes. Both provide essential care for seniors, but they offer very different experiences—for both residents and business owners.
If you’re thinking about starting an assisted living business or loo...
Thinking about starting your own residential assisted living (RAL) facility? You’re in the right place! Turning a house into a thriving RAL business is a rewarding venture that provides much-needed care for seniors while creating a steady income stream. Let’s break it down step by step so you can co...
Starting an assisted living business is exciting, but if you want to succeed, you need a solid business plan. Think of it as your roadmap—it helps you stay on track, secure funding, and build confidence in your vision.
A business plan isn’t just paperwork—it’s a powerful tool that shows investors, ...
Starting an assisted living facility can be both fulfilling and profitable. But let’s be honest—it also comes with a serious financial commitment. Planning and budgeting for the major costs from day one is key to setting up a successful assisted living business.
In this post, we’ll break down the f...
Managing finances is a big part of running a successful assisted living business. One key decision is whether to get a business credit card. A good business credit card can help with cash flow, track expenses, and even earn rewards. But if not used wisely, it can lead to debt and financial trouble. ...
If you’re thinking about starting an assisted living facility, you’ve probably wondered: Does my property need to be wheelchair accessible? The short answer is: it depends on your state, local regulations, and the needs of your future residents. Let’s dive into what wheelchair accessibility means, w...
Navigating Medicaid billing and coding may feel overwhelming for new assisted living providers, but it doesn’t have to be! Understanding the basics and building a clear system can make this process much smoother. In this guide, we’ll break it down so you can manage Medicaid billing confidently.
We’...
Finding new residents is one of the biggest challenges in running an assisted living facility. If you’re just starting out, you might wonder—should I use a placement agency to help fill my beds?
Placement agencies can connect you with families searching for assisted living options, but they also co...
As an assisted living facility owner or manager, you've probably heard of ACH, or Automated Clearing House. But do you know how it can transform the way you manage your facility’s finances? ACH is an electronic payment network that makes transferring money between banks simple, fast, and cost-effect...
Starting your journey into assisted living investing can be both exciting and challenging. One of the crucial decisions you’ll face is whether to operate a licensed or unlicensed assisted living facility, each with distinct advantages and disadvantages.
Licensed facilities adhere to strict state re...
Running a residential assisted living (RAL) facility comes with many decisions, and one of the trickiest is figuring out how to compensate your caregivers fairly. A common question is: Should overnight caregivers earn more than daytime staff?
Let’s break it down by looking at the roles, challenges,...
