Which Type of Owner Are You?

Here was a question some time ago from one of our readers:  how involved should an owner be in their assisted living facility? For many of you, the answer to that question is probably obvious…based on your circumstances.  But there are at least three different types of owners and their levels of involvement vary. First, […]

How Do I Pick a Location for My Assisted Living Facility?

  Keith asked a question a while ago about picking a location for his assisted living facility.  That’s a great question and an important one when you’re planning to build. We’ve all heard the saying that the three most important things in real estate are location, location, and location.  For an assisted living community, there may […]

Planning Your Exit: The Checklist

    I gave a talk recently at a conference of assisted living providers.  The purpose of my talk was to help those business owners have a plan to prepare for selling or exiting their business one day.  Many were perfectly happy running their business, and they had no intention of selling – for now. […]

Audited Financials For Your Assisted Living Facility

  Financial statements are the report card on the financial performance of your assisted living facility. Larger facilities and bigger operators are often required to have audited financial statements to satisfy lenders, investors and funding sources. But what about smaller providers? Are audited financial statements necessary? Audited financials statements aren’t necessary, unless you have a […]

Selling Your Assisted Living Facility? Expect Some Visitors

When you’re selling your assisted living facility, there are many steps in the process. Once you have reached an agreement with a buyer, there is a long list of others who may need to visit your property. Due diligence is the process a buyer undertakes to inspect a property and confirm their understanding of the […]

9 Questions to Ask a Real Estate Broker

I received a call from a potential client last week. She was interested in learning more about working with Senior Care Realty to help confidentially sell her assisted living facility. During the course of our call, it occurred to me that she wasn’t asking me the right questions. Sellers often call us with the same […]

Build an Assisted Living Business, Not Just a Facility

I spoke at a conference recently on the topic of starting an assisted living facility. Some of the questions from the audience indicated that there were some who, in my humble opinion, were not asking the right questions. Questions included things like: “How important is location?” “How long will it take to fill a new […]

Using Quickbooks Online for Your Assisted Living Facility

I started doing the accounting for an assisted living facility owned by my parents back in 1988. Times have certainly changed. Over the years, I’ve only used two accounting programs: Peachtree and Quickbooks. I started using Peachtree in the day of floppy disks.  It was difficult to use, time consuming, and prone to error or […]

Three Steps To Take Before Starting Your Assisted Living Facility

I’m encouraged by the calls and emails I receive from people who want to start their own assisted living facility. There are many people who want to serve older adults and enjoy the benefits of owning their own business. They call me full of enthusiasm and questions.     Sometimes I’m a bit of a […]

How to Fill Your Assisted Living Facility

There are few assisted living facilities that operate at 100% occupancy. I’ve visited hundreds and managers at nearly every one are looking for ways to fill beds. Someone recently asked me if I had any tips on trying to fill the open units in their small owner-operated assisted living facility. Like many others, this facility […]