Oct 11 2024 13 mins
In this episode, Brett Chotkevys breaks down the critical importance of choosing your ideal resident for your assisted living business. He explores how different levels of care—ranging from independent living to assisted living, end-of-life care, and memory care—can dramatically affect your business model. Brett explains how each type of resident has unique care needs, pricing structures, and staffing requirements, and how these factors directly influence your potential income and expenses. Whether you're offering light care or handling high-needs residents, understanding your customer base can make all the difference in your business's success.
Brett also shares his personal experience running 16-bed memory care mansions, revealing the pros and cons of various care models. He highlights how higher levels of care, while more profitable, come with increased complexity and operational challenges. If you're thinking about starting an assisted living business or refining your current model, this episode will help you make informed decisions about the ideal customer for your facility and how to maximize profitability while balancing the demands of care.
#AssistedLivingBusiness #MemoryCare #SeniorCare #CareLevels #ResidentCare #ProfitableCareModels #CaregivingInsights #BusinessOfCare #ALFSuccess #AssistedLivingInvesting
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Assisted living investing, Residential Assisted Living, small facilities, passive income, myth debunking, challenges, limitations, active involvement, owner-operators, staffing, emergencies, quality care, scalable business model, 16-bed luxury memory care mansion, informed decisions, behind-the-scenes insights, thriving niche, One and Done, Financial Freedom, Active Income, Making a Difference, Long-Term Exit Strategy, Real Estate, Retirement Planning, Memory Care Mansion, Investment Opportunities.
Intro Music by Alex_Kizenkov via Pixabay