Episode 93 | Unveiling the Secrets of Operating an Assisted Living Facility!
In this episode of the Assisted Living Investing Podcast, host Brandon provides an in-depth guide for beginners on how to launch and operate an assisted living business within the next year. Brandon recounts his own experience running two out-of-state assisted living facilities and offers free resources, including a business plan checklist, to help listeners build a solid foundation. He discusses critical phases of starting the business: finding the right property, securing funding, obtaining necessary licenses, and managing operations. Key challenges such as staffing, documentation, and complying with regulations are also covered, along with practical tips on marketing strategies to attract residents. The episode emphasizes the importance of preparation, consistent communication, and thorough documentation to ensure success.
00:00 Introduction to the Podcast and Host
00:25 Importance of a Business Plan
01:05 Brandon's Background and Experience
01:59 The Five Phases of Starting an Assisted Living Business
02:13 Phase One: Building the Foundation
02:17 Phase Two: Finding the Right Property
02:25 Phase Three: Securing Funding
02:33 Phase Four: Licensing Your Facility
02:47 The Reality of Owning a Business
03:16 Key Aspects of Operating an Assisted Living Business
03:24 Staffing Challenges and Solutions
05:02 Managing Payroll and Schedules
08:28 Finding Residents for Your Facility
09:18 Effective Marketing Strategies
17:12 Importance of Paperwork
20:59 Navigating Regulations and Compliance
23:52 Community and Support Resources
24:45 Q&A Session
31:05 Conclusion and Final Thoughts
Resources Mentioned:
Visit our website, AssistedLivingInvesting.net, for additional resources, including our year-long mastermind program and free underwriting calculator.
Get your free business plan checklist today: https://urlgeni.us/alibpc
Learn about the Assisted Living Basics: https://www.assistedlivinginvesting.net/basics
Learn about the Assisted Living Investing Mastermind: assistedlivinginvesting.net/mastermind
Apply for the Mastermind today: alimastermind.com/application
Join the Bussiness Foundation Basics Workshop: Assisted Living Business Foundation Basics
Learn the five steps to help you start an assisted living business: https://youtube.com/live/dRVCa80SOyM
Get the 12 Week Year Book: https://amzn.to/4bAOpQf
Marketing Made Simple by Donald Miller: https://amzn.to/3ECoNY5
Who Not How by Benjamin Hardy : https://bit.ly/whonothowbooklink
Courses:
- Do you need guidance on your journey to launching your assisted living business: https://urlgeni.us/aliala
- Do you need help building your business plan: https://urlgeni.us/alibpg
FREE Resources:
- Business Plan Checklist: https://urlgeni.us/alibpc
- Calculator: https://urlgeni.us/alicalc
- Lease Agreement Template: https://urlgeni.us/alila
- ProfitPath Analysis Tool: https://urlgeni.us/aliprofitpath
- Grant Writing Template: https://urlgeni.us/aligrant
Need help with your payroll? Get Gusto: https://gusto.com/i/brandon9590
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