It’s often said that cemeteries are packed with multimillion dollar ideas. Instead of taking your legacy to the grave, learn how to bundle real estate and senior assisted living into one business. The Residential Assisted Living Academy shows entrepreneurs how to start earning $5,000, $10,000, $15,000 and even $20,000 monthly cash flow. The 3-day fast track training provides students with step-by-step A-Z instruction for owning and operating a residential assisted living business. The course also offers a virtual guided tour of fully operational RAL homes. A lot of people ask, “How do I get started?” The simple answer is really centered on location, location, location.
Three Reasons Why Location Is Important
- Demographics
- Economics
- Competition
Location is critical in the assisted living industry. Even if you own the property already, that doesn’t mean it will lead to a successful business model. There are important questions you’ll need to ask concerning the location of your new RAL business, starting with, “What are the demographics of the area?” This is the first of many questions and answers new owners and operators will need to search out.
Finding The Right Blueprint
When Gene Guarino, founder of Residential Assisted Living Academy, first started building his business, there was no blueprint to follow. He started by creating a Five-Level System.
This system categorizes homes into various tiers to accommodate multiple markets at different price points. Level five consists of the nicest homes in wealthier areas. On the opposite end of the spectrum are the level one homes in lower income neighborhoods. Level one homes are usually located in less safe areas, places in which you probably wouldn’t feel comfortable having your mom or dad live. The RAL Academy advises against starting level 1 homes. In fact, Guarino strongly encourages students to focus on level 3 and 4 homes. He calls these levels of homes “The sweet spot.”
The Sweet Spot Is All About Location
The relationship between the business and the location is all about finding that sweet spot. It’s above the middle, but not at the very top. This means you are designing your business plan to accommodate residents who are able to pay $4,000 – $8,000. As a result, the location of your RAL home can make or break your business. Location plays a significant factor in increasing or decreasing your monthly net income. Location is also an important component for hiring and retaining quality employees. Depending on what part of the country and the community that your home is in, the “sweet spot” can go up or down. As a business focused on private pay, these clients can afford the expense. This is why Guarino’s blueprint targets a specific market. The price works for them, and the income works for us. Not every senior that needs assisted living is able to pay for their own care, but a lot of people do, especially in the right communities. Remember, this is another reason why location is a critical component. The blueprint focuses on private pay clients, as opposed to those who are government assisted. The bottom line is location is key.
The Real Estate and Raising Capital
With residential assisted living, there must be systems in place for the real estate portion of the business. In addition to knowing where to locate the home, you need to know how to fund it and how to acquire it. You will also need to know how to raise capital. Raising capital for residential assisted living can be easy with the right approach, also taught at the RAL Academy. Guarino has been raising capital for various businesses for nearly 40 years. At the RAL Academy training, Guarino and his team of RAL experts, teach students the secrets and skills needed to succeed. In order to raise capital, you will need to be able to articulate your business plan in words and in writing. At the Residential Assisted Living Academy 3-day fast track we teach students all of the elements of a successful business plan.
How To Get Started With Residential Assisted Living
This winning business blueprint will help you get started and scale your business and profits. In addition to the step-by-step training process that has been developed over many years by Gene Guarino, you will also gain access to shared knowledge. During Q&A sessions, Gene Guarino answers questions firsthand. Save time, effort and money by avoiding the mistakes in going alone. Use the experience and wisdom of the experts. Get started during quarantine by using the RAL Academy resources like At-Home Study courses and reading the book, Blueprint. Use the right resources to accelerate your vision for your future.
