How to Start an Assisted Living Facility Business

Your Blueprint for Success in the Senior Care Industry: Interior Design, Technology, Hiring Practices, Food Service, Legalities, & Daily Operations

By: Sophia Goolsby

Narrated by: Sera Chance

Length: 3 hrs and 58 mins

Publisher's summary

Here are some facts and figures from AHCA (American Health Care Association) and A Place for Mom:

• There are little more than 810,000 seniors who currently reside in assisted-living facilities in the US
• There are 28,900 active assisted-living facilities operating at a capacity of 80 percent or higher.
• Almost 50 percent of these facilities are family-owned.
• Seven out of 10 people will require assisted-living care in their lifetime.
• The demand is expected to grow by an additional one million beds by 2040.
• The average cost for a single bedroom in an ALF is $46,500 per month.

With these mind-boggling statistics about Baby Boomers affecting everything from health care to vacation planning, it's definitely a good time to enter this market. Experts and data scientists say the real boom won't happen until 2028, but no one's paying attention to their mathematical projections. We see it happening now. We feel their presence.

To us, the boom is now!

So, if you, the aspiring owner/director of an assisted-living facility, want to enter the senior-living industry, do your homework.

Listen to this book and get the facts.

I basically lived in two ALFs. The first one entailed taking care of my mother in Fayetteville, NC. I also took care of my husband in a facility located in Atlanta, GA. My blog posts that I wrote about careers related to senior living required interviewing facility directors, chefs, and nurses of some of the area’s five-star facilities.

Operating an ALF can be rewarding.

The services you provide for people aged 62+ and their families help people live their best lives. You also contribute to the community and society at large by maintaining the health and well-being of a contributing member.

I am writing this book because I have lived “both sides of the coin”, so to speak. I have a degree in business management, and I have consulted many small-business owners on how to start, run, and grow their new businesses. But I have experienced an assisted living facility as a patient and caregiver of a patient.

To be a good business owner, it’s best to have all the facts from both ways.

• My story: portrait of a soldier in the women’s army corps
• Understanding assisted-living facilities
• History of assisted-living facilities
• Advantages of assisted-living facilities
• Disadvantages of assisted-living facilities
• What is required by law?
• The challenges facing ALFs
• Types of care for people 62+
• About Baby Boomers
• The demographics of assisted living
• Changing the cultural perception of aging
• Technology for people 62+
• Design and architecture of assisted-living facilities
• Exercise, fitness, and Boomers
• Senior-living housing industry and market fluctuations
• How to start an assisted-living facility
• Obtain the required permits and licenses
• Federal- and state-mandated governance of assisted-living facilities
• Hiring the best medical professionals
• Choosing the right candidate
• Marketing 101
• How to get happy customers
• Daily operations of a health-care facility

You will learn all of this and so much more! If you have ever wanted to help our elderly population and provide amazing and much-needed services to this segment of society, consider starting an assisted-living facility!

©2023 Parma Books (P)2023 Parma Books

The basic nuts and bolts

This book is an excellent general overview of what all is involved in opening and running an ALF as a business. It’s great for understanding the basic nuts and bolts of operations, but it lacks a deep dive into any of the topics discussed. In addition, the author offers many great ideas and additional resources that can be helpful to any owner/operator.