Assisted Living Investing

Choosing Assisted Living Locations: Transforming Online Research into Perfect Locations - Ep 11

September 15, 2023 Brett Chotkevys Season 1 Episode 11
Assisted Living Investing
Choosing Assisted Living Locations: Transforming Online Research into Perfect Locations - Ep 11
Show Notes

In this episode, Brett Chotkevys dives into the crucial steps of starting your own assisted living facility. Brett breaks down the process into four key frameworks, with today's focus on the first one: location selection.

Starting with thorough online research, Brett emphasizes the importance of understanding your local market inside out. You'll need to know the demographics, such as age, income, and housing prices, in your target area. This information helps you determine whether there's a demand for your assisted living services and if potential residents can afford them.

Moreover, Brett emphasizes the significance of understanding state regulations and licensure requirements. These regulations differ by state and directly impact your business's operation. Ensuring you're well-versed in these laws is essential to avoid costly mistakes down the line.

Additionally, Brett suggests analyzing the competition. Investigate other assisted living facilities in your area to identify best practices and areas for improvement. Pay close attention to their websites, social media presence, and zoning to gain insights into their success and shortcomings.

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Intro Music by Alex_Kizenkov via Pixabay