WALA Profitability Checklist

This morning, I had the opportunity to give an online presentation at the virtual conference of the Wisconsin Assisted Living Association. The title of the presentation was: Small Business. Profitable Business. How To Be Both. For those of you who attended, thanks. I appreciated your questions and hope you received helpful answers. If you have […]

FAQ: Should I Hire a Payroll Company?

When you’re starting up your assisted living facility, there are many things to consider so that you don’t run into problems later.  As Fran said in her recent question, she wants to “have all my ducks in a row”. One of her questions was about using a payroll company.  Fran asked: Should I hire a […]

Papering Over Problems With Payroll

  I’ve been involved with real estate for a long time.  It’s hard to believe it’s been more than 30 years now. Having bought, sold and helped dozens of clients do the same, I have also seen some interesting properties and interesting people. One of the more interesting things that I saw was the seller […]

How Are Assisted Living Management Companies Paid?

It’s no surprise that many buyers who contact us at Senior Care Realty are investors.  Assisted living facilities and other senior care real estate can be great investments.  But most investors are looking for an investment, and not a job.   Investors Are Seldom Managers Assisted living facilities have a lot going on.  Resident care. […]

Finance 101 For Assisted Living Facilities

I’m really excited to speak at the Wisconsin Assisted Living Association’s spring conference this week. I know that I will get to see many past and current clients, and old friends. But I will also have an opportunity to share some of what I have learned about financial management of assisted living facilities. This is […]

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 […]