How to Write a Assisted Living Facility Business Plan

[Sample Template]
Are you about starting an assisted living facility? If YES, here is a complete sample
assisted living facility business plan template & feasibility study you can use for
FREE. There are business opportunities all around us that can guarantee us steady flow of
income.
For instance, if you love the elderly and you enjoy working with them, you can consider
opening your own assisted living facility business. Assisted living facility is different from a
hospital or healthcare facility; it can be likened to old people’s home.
Assisting individuals with daily living activities can be an overwhelming undertaking and it
can be physically tasking and the equivalent of a full-time job. An assisted living facility
provides assistance to individuals by administering medications, preparing meals,
household tasks and assisting with physical exercise et al; assisted living facilities are a
viable option for families seeking quality care for their aging loved ones.
Table of Content [hide]
o What It Takes to Open an Assisted Living Facility?
o 1. Industry Overview
 2. Executive Summary
o 3. Our Products and Services
o 4. Our Mission and Vision Statement
 5. Job Roles and Responsibilities
 6. SWOT Analysis
 7. MARKET ANALYSIS
o 8. Our Target Market
o Our competitive advantage
o 9. SALES AND MARKETING STRATEGY
o 10. Sales Forecast
o 11. Publicity and Advertising Strategy
o 12. Our Pricing Strategy
 13. Startup Expenditure (Budget)
o 14. Sustainability and Expansion Strategy

What It Takes to Open an Assisted Living Facility?

Starting a business such as an assisted living facility business requires that you are
thorough in all your dealings and in all the steps that you take in building the business. It is
true that you will need to deal with a number of people, and as such you will need to be well
trained in the trade. There are loads of people out there who are willing to train people to
join the bandwagon.
Setting up an assisted living facility requires hard work and serious planning. You are
expected to apply and obtain permit and license to run such facility from the government,
and your facility must meet the required health and safety standards before you can be
allowed to operate an assisted living facility.
Aside from well – trained domestic employees that will be on your payroll, you will also need
to hire nurses, renting a facility, paying the workers, furnishing the facility to suit the elderly
ones, the feeding, as well as some other very essential things that cannot be neglected. It is
for this reason that you may need to source for funds.

A Sample Assisted Living Facility Business Plan Template

1. Industry Overview
An Assisted living facility is a conducive facility designed basically for the elderly/aging
people who need care and assistance. The facility is usually in a secured and less noisy
area. It is a facility that is well furnished place with beddings, furniture, fittings and other
things that can add to the comfort and ambience of the facility; a place that can be
conducive for elderly people.
The essence of assisted living facility is to provide accommodation strictly for rent to only
elderly people who would need people to help them carry out some domestic tasks that they
can no longer do on their own. As a matter of fact, nurses are assigned to these facilities to
help take proper care of the elderly people in the assisted living facility because some of
them may be battling with one sickness or another.
The Assisted Living Facility industry essentially provides accommodation and personal care
services for elderly people and of course other individuals who are unable to fully care for
themselves due to ailment or disability.
Basically, businesses in the Assisted Living Facility industry provide a significant range of
services such as independent living, assisted living, skilled nursing and a combination of
these, which are usually referred to as continuing care retirement communities. Any
business that mainly provide skilled nursing are not included in this industry.
The US Census Bureau categorizes this type of facility as homes for the elderly and
continuing care retirement communities. According to the U.S. Census Bureau, the
population of individuals in the united states of America between the ages of 65 and 84 is
estimated to increase by 38.8 percent between 2010 and 2022, while the population above
the age of 85 is also projected to increase by 18.7 percent.
The increase in the aging population will definitely create a large business opportunities /
market for the Assisted Living Facility industry. From the demographic composition of the
target market for Assisted Living Facility, it clearly shows that in 2006, 69 percent of those
who resides in Assisted Facilities are female, while 31 percent are male and a large number
of residence in Assisted Living Facilities are 85 years and above.
In the United States of America, the biggest market (23 percent) for this industry is in the
South – East region. The Assisted Living Facility industry is indeed a very large industry and
pretty much thriving in developed countries such as United States of America, Canada,
United Kingdom, Germany, Australia and Italy et al.
Statistics has it that in the United States of America alone, there are about 18,076 licensed
and registered Assisted Living Facility businesses responsible for employing about 909,415
employees and the industry rakes in a whooping sum of $62bn annually with an annual
growth rate projected at 3.7 percent.
Over and above, the Assisted Living Facility line of businesses in developed countries are
still enjoying good patronage particularly if they are well positioned and if they know how to
reach out to their target market; the aging population and those who would also want to live
in an assisted living facility community.

2. Executive Summary
Papas & Mamas Assisted Living Facilities, LLC is a standard and licensed assisted living
facility that will be located in the heart of Cape May – New Jersey in a neatly renovated and
secured housing facility; an assisted home for the elderly that is specifically designed and
equipped with the needed accommodation facilities / gadgets to give comfort and security to
all our residence irrespective of the religious affiliations, their race, and health condition.
Papas & Mamas Assisted Living Facilities, LLC is a family owned and managed business
that believe in the passionate in ensuring that the aging population are well taken care of
and in the pursuit of excellence and financial success with uncompromising services and
integrity which is why we have decided to venture into the hospitability industry by
establishing our own assisted living facility business.
We are certain that our values will help us drive the business to enviable heights and also
help us attract the numbers of clients that will make our facility fully occupied year in year
out.
We are going to be a health conscious and customer-centric assisted living facility business
with a service culture that will be deeply rooted in the fabric of our organizational structure
and indeed at all levels of the organization. With that, we know that we will be enables to
consistently achieve our set business goals, increase our profitability and reinforce our
positive long-term relationships with our clientele, partners (vendors), and all our employees
as well.
Our accommodation facility will be decorated in an exquisite and elegant facade, so much
so that it will be a conspicuous edifice in the city where it is located.
Papas & Mamas Assisted Living Facilities, LLC will provide a conducive lodging for our
customers; we will engage in services such as continuing care retirement communities,
assisted living facilities and homes for the elderly, independent-living facilities, providing
room and board, nursing and other supervision services, assistance in daily living and
housekeeping services
Papas & Mamas Assisted Living Facilities, LLC will be equipped with everything that will
make life comfortable for the elderly. We will as build a fitness room and library et al. We will
also install a free Wi-Fi that will enable our residence and guests surf the internet with their
laptop in the room free of charge, and there will be wireless access in all the public area
within the lodging facility.
Papas & Mamas Assisted Living Facilities, LLC is a family business that is owned and
managed by Mrs. Ruth Bob – Simpson and her family. Mrs. Ruth Bob – Simpson is a
licensed Assisted Living Administrator, nurse and social health worker with well over 25
years of experience working for leading brand in the industry. She has a Master’s Degree in
Public Health and she is truly passionate when it comes to taking care of the aging
population.
3. Our Products and Services
Poppas & Mommas Assisted Living Facilities, LLC is set to operate a standard Assisted
Living Facility service in Cape May, New Jersey. The fact that we want to become a force to
reckon with in the Assisted Living Facility industry means that we will provide our clients a
conducive and highly secured accommodation.
In all that we do, we will ensure that our customers are satisfied and are willing to
recommend our facility to their family members and friends.
We are in the Assisted Living Facility business to deliver excellent services and to make
profits and we are willing to go the extra mile within the law of the United States to achieve
our business goals, aims and objectives. These are the services that Papas & Mamas
Assisted Living Facilities, LLC will be offering;

 Continuing care retirement communities

 Assisted living facilities and homes for the elderly
 Independent-living facilities
 Providing room and board
 Nursing and other supervision
 Assistance in daily living
 Housekeeping services
 Social Work
 Home Medication Management
 Personal Assistance Services

4. Our Mission and Vision Statement

 Our vision is to become the number one choice when it comes to assisted living
facility service delivery in the whole of New Jersey and also to be amongst the top 20
assisted living facility service provider in the United States of America within the next
10 years.
 Poppas & Mommas Assisted Living Facilities, LLC is in business is to establish a first
class assisted living facility service that will take care of both highly placed clients
and lowly placed clients as long as they can afford our services.
 We want to become one of the leaders in the assisted living facility industry in New
Jersey, and in The United States of America.

Our Business Structure

Poppas & Mommas Assisted Living Facilities, LLC is a business that will be built on a solid
foundation. From the outset, we have decided to recruit only qualified professionals (nurses,
nurse’s aides, medication management counselors, physical therapists, county aging
workers, and rehabilitation counselors, home health caregivers and home caregivers) to
man various job positions in our organization.
We are quite aware of the rules and regulations governing the assisted living facility industry
which is why we decided to recruit only well experienced and qualified employees as
foundational staff of the organization. We hope to leverage on their expertise to build our
business brand to be well accepted in New Jersey and the whole of the United States.
When hiring, we will look out for applicants that are not just qualified and experienced, but
homely, honest, customer centric and are ready to work to help us build a prosperous
business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our
management staff and it will be based on their performance for a period of five years or
more. This are the positions that will be available at Papas & Mamas Assisted Living
Facilities, LLC;

 Chief Executive Officer

 Medication Management Counselors
 Assisted Living Administrator (Human Resources and Admin Manager)
 Nurse’s Aides
 Home Health Caregivers/Home Caregivers/County Aging Workers
 Marketing Executive
 Account
 Cleaners

5. Job Roles and Responsibilities

Chief Executive Officer:

 Increases management’s effectiveness by recruiting, selecting, orienting, training,

coaching, counseling, and disciplining managers; communicating values, strategies,
and objectives; assigning accountabilities; planning, monitoring, and appraising job
results; developing incentives; developing a climate for offering information and
opinions; providing educational opportunities.
 Creating, communicating, and implementing the organization’s vision, mission, and
overall direction – i.e. leading the development and implementation of the overall
organization’s strategy.
 Responsible for fixing prices and signing business deals
 Responsible for providing direction for the business
 Creates, communicates, and implements the organization’s vision, mission, and
overall direction – i.e. leading the development and implementation of the overall
organization’s strategy.
 Responsible for signing checks and documents on behalf of the company
 Evaluates the success of the organization
 Reports to the board.

Assisted Living Administrator (Admin and HR Manager)

 Responsible for overseeing the smooth running of HR and administrative tasks for
the organization
 Design job descriptions with KPI to drive performance management for clients
 Regularly hold meetings with key stakeholders to review the effectiveness of HR
Policies, Procedures and Processes
 Maintains office supplies by checking stocks; placing and expediting orders;
evaluating new products.
  Ensures operation of equipment by completing preventive maintenance
requirements; calling for repairs.
 Defining job positions for recruitment and managing interviewing process
 Carrying out staff induction for new team members
 Responsible for training, evaluation and assessment of employees
 Responsible for arranging travel, meetings and appointments
 Updates job knowledge by participating in educational opportunities; reading
professional publications; maintaining personal networks; participating in
professional organizations.
 Oversees the smooth running of the daily office activities.

Medication Management Counselors

 Responsible for providing professional medical services to our residence

 Responsible for ensuring that elderly people under our care takes their medication
as at when due
 Responsible for handling medical emergencies

Nurses/Nurse’s Aides/Mental Health Counselors

 Responsible for managing our patients in their various houses

 Handles personal injury case management
 Responsible for offering home medication management services

Marketing and Sales Executive

 Identify, prioritize, and reach out to new clients, and business opportunities et al
 Identifies development opportunities; follows up on development leads and contacts;
participates in the structuring and financing of projects; assures the completion of
projects.
 Writing winning proposal documents, negotiate fees and rates in line with
organizations’ policy
 Responsible for handling business research, market surveys and feasibility studies
for clients
 Responsible for supervising implementation, advocate for the customer’s needs, and
communicate with clients
 Develop, execute and evaluate new plans for expanding increase sales
 Document all customer contact and information
 Represent Papas & Mamas Assisted Living Facilities, LLC in strategic meetings
 Help increase sales and growth for Papas & Mamas Assisted Living Facilities, LLC.

Accountant/Cashier

 Responsible for preparing financial reports, budgets, and financial statements for the
organization
 Provides managements with financial analyses, development budgets, and
accounting reports; analyzes financial feasibility for the most complex proposed
projects; conducts market research to forecast trends and business conditions.
  Responsible for financial forecasting and risks analysis.
 Performs cash management, general ledger accounting, and financial reporting for
the organization
 Responsible for developing and managing financial systems and policies
 Responsible for administering payrolls
 Ensuring compliance with taxation legislation
 Handles all financial transactions for Papas & Mamas Assisted Living Facilities, LLC
 Serves as internal auditor for Papas & Mamas Assisted Living Facilities, LLC.

Cleaners:

 Responsible for cleaning the facility at all times

 Ensure that toiletries and supplies don’t run out of stock
 Assist our residence when they need to take their bath and carry out other
household tasks
 Cleans both the interior and exterior of the facility
 Handle any other duty as assigned by the facility manager

6. SWOT Analysis
Poppas & Mommas Assisted Living Facilities, LLC is set to become one of the leading
assisted living facility in New Jersey which is why we are willing to take our time to cross
every ‘Ts’ and dot every ‘Is’ as it relates to our business. We want our assisted living facility
business to be the number one choice of all residence of Cape – May and other cities in
New Jersey.
We know that if we are going to achieve the goals that we have set for our business, then
we must ensure that we build our business on a solid foundation. We must ensure that we
follow due process in setting up the business.
Even though our Chief Executive Officer (owner) has a robust experience in social work and
taking care of the aging population, we still went ahead to hire the services of business
consultants that are specialized in setting up new businesses to help our organization
conduct detailed SWOT analysis and to also provide professional support in helping us
structure our business to indeed become a leader in the assisted living facility industry.
This is the summary of the SWOT analysis that was conducted for Papas & Mamas
Assisted Living Facilities, LLC;

 Strength:

Our strength lies in the fact that we have a team of well qualified professionals manning
various job positions in our organization. As a matter of fact, they are some of the best
hands in the whole of Cape – May, New Jersey. Our location, the Business model we will
be operating on, well equipped facility and our excellent customer service culture will
definitely count as a strong strength for us.

 Weakness:
Poppas & Mommas Assisted Living Facilities, LLC is a new business which is owned by an
individual (family), and we may not have the financial muscle to sustain the kind of publicity
we want to give our business and also to attract some of the highly experienced hands in
the assisted living facility industry.

 Opportunities:

The opportunities that are available to assisted living facilities are unlimited considering the
fact that we have growing aging population in the United States and we are going to
position our business to make the best out of the opportunities that will be available to us in
New Jersey.

 Threat:

Just like any other business, one of the major threats that we are likely going to face is
economic downturn and unfavorable government policies. It is a fact that economic
downturn affects purchasing / spending power. Another threat that may likely confront us is
the arrival of a new and bigger / well established assisted living facility brand in same
location where our outlet is located.

7. MARKET ANALYSIS
 Market Trends

One thing is certain in the assisted living facility industry, the fact that there are growing
aging population in the United States, the trend will continue to benefit the industry; as the
population ages, more elderly people will require the services of assisted living facilities.
The trend in the industry is that, players in the industry are now flexible enough to adjust
their services and facilities to attract more knowledgeable and educated residents by
incorporating more technology and adapting to new markets
Another trend in the industry is that, in other to make assisted living facilities more
affordable for low income individuals, many states in the United States of America are
enacting changes to the portion of Medicaid which can be applied to Assisted Living
Facilities.
Before now, only individuals living in nursing homes were typically provided Medicaid
assistance, but in recent time, there are now a growing number of states that have
recognized the importance of offering Medicaid dollars to senior citizens living in Assisted
Living Facilities.
No doubt the assisted living facility industry will continue to grow and become more
profitable because the aging baby-boomer generation in Unites States are expected to drive
increasing demand for this specialized services and care.
8. Our Target Market
Poppas & Mommas Assisted Living Facilities, LLC is in business to service the aging
population in Cape – May, New Jersey and other cities in New Jersey. We will ensure that
we target both self – pay customers (who do not have Medicaid cover), and those who have
Medicaid cover.
Generally, those who need the services of assisted living facilities are the aging population
and perhaps those who need daily help.
The fact that we are going to open our doors to a wide range of customers does not in any
way stop us from abiding by the rules and regulations governing the assisted living facility
industry in the United States.  Our staff are well – trained to effectively service our
customers and give them value for their monies. Our customers can be categorized into the
following;

 The aging population

 The aged who might suffer from severe joint pains and every other age categories
who falls under the conditions listed by the physician.

Our competitive advantage
Aside from the competitions that exist amongst players in the assisted living facility industry,
they also compete against other home healthcare services providers.
To be highly competitive in the assisted living facility industry means that you should be
able to secure a conducive and secured facility, deliver consistent quality patient service
and should be able to meet the expectations of the children / family members paying for
their loved elderly parents in your facility.
Papas & Mamas Assisted Living Facilities, LLC is coming into the market well prepared to
favorably compete in the industry. Our office facility is well positioned (centrally positioned)
and visible, we have good security and the right ambience for elderly people.
Our staff are well groomed in all aspect of assisted living facility services and all our
employees are trained to provide customized customer service to all our clients. Our
services will be carried out by highly trained professional nurse’s aides, medication
management counselors, county aging workers, home health caregivers and home
caregivers who know what it takes to give our highly esteemed customers value for their
money.
Lastly, all our employees will be well taken care of, and their welfare package will be among
the best within our category (startups assisted living facility business and other related
businesses in the United States) in the industry. It will enable them to be more than willing
to build the business with us and help deliver our set goals and achieve all our business
aims and objectives.
9. SALES AND MARKETING STRATEGY

 Sources of Income

Poppas & Mommas Assisted Living Facilities, LLC will ensure that we do all we can to
maximize the business by generating income from every legal means within the scope of
our industry. Below are the sources we intend exploring to generate income for Papas &
Mamas Assisted Living Facilities, LLC;
  Continuing care retirement communities
 Assisted living facilities and homes for the elderly
 Independent-living facilities
 Providing room and board
 Nursing and other supervision
 Assistance in daily living
 Housekeeping services
 Social Work
 Home Medication Management
 Personal Assistance Services

10. Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our
feasibility studies, market survey and also some of the assumptions readily available on the
field. Below are the sales projections that we were able to come up with for the first three
years of operations;

 First Year-: $100,000 (From Self – Pay Clients); $250,000 (From Medicaid Covers)
 Second Year-: $250,000 (From Self – Pay Clients); $500,000 (From Medicaid
Covers)
 Third Year-: $500,000 (From Self – Pay Clients); $1,500,000 (From Medicaid Cover)

N.B: This projection is done based on what is obtainable in the industry and with the
assumption that there won’t be any major economic meltdown and natural disasters within
the period stated above. Please note that the above projection might be lower and at the
same time it might be higher.

 Marketing Strategy and Sales Strategy

The marketing and sales strategy of Papas & Mamas Assisted Living Facilities, LLC will be
based on generating long-term personalized relationships with our customers. In order to
achieve that, we will ensure that we offer top notch all – round assisted living facility
services at affordable prices compare to what is obtainable in New Jersey.
All our employees will be well trained and equipped to provide excellent and knowledgeable
assisted living facility services and customer service. We know that if we are consistent with
offering high quality assisted living facility service delivery and excellent customer service,
we will increase the number of our customers by more than 25 percent for the first year and
then more than 40 percent subsequently.
Before choosing a location for Papas & Mamas Assisted Living Facilities, LLC, we
conducted a thorough market survey and feasibility studies in order for us to be able to be
able to penetrate the available market and become the preferred choice for residence of
Cape – May and other cities in New Jersey. We have detailed information and data that we
were able to utilize to structure our business to attract the numbers of customers we want to
attract per time.
We hired experts who have good understanding of the assisted living facility industry to help
us develop marketing strategies that will help us achieve our business goal of winning a
larger percentage of the available market in New Jersey.
In summary, Papas & Mamas Assisted Living Facilities, LLC will adopt the following sales
and marketing approach to win customers over;

 Introduce our business by sending introductory letters to residence, clubs for elderly
and other stake holders in New Jersey
 Advertise our business in community based newspapers, local TV and local radio
stations
 List our business on yellow pages ads (local directories)
 Leverage on the internet to promote our business
 Engage in direct marketing
 Leverage on word of mouth marketing (referrals)
 Enter into business partnership with hospitals, government agencies and health
insurance companies.
 Attend health care related exhibitions/expos.

11. Publicity and Advertising Strategy

We are in the assisted living facility business -to become one of the market leaders and also
to maximize profits hence we are going to explore all available conventional and non –
conventional means to promote Papas & Mamas Assisted Living Facilities, LLC.
Papas & Mamas Assisted Living Facilities, LLC has a long term plan of building assisted
living facilities in key cities in the United States of America which is why we will deliberately
build our brand to be well accepted in Cape – May, New Jersey before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers
over but to effectively communicate our brand to the general public. Here are the platforms
we intend leveraging on to promote and advertise Papas & Mamas Assisted Living
Facilities, LLC;

 Place adverts on both print (community based newspapers and magazines) and
electronic media platforms
 Sponsor relevant community health programs that appeals to the aging population
 Leverage on the internet and social media platforms like; Instagram, Facebook ,
twitter, YouTube, Google + et al to promote our brand
 Install our Bill Boards on strategic locations all around Cape – May, New Jersey.
 Engage in road show from time to time in location with growing aging population
 Distribute our fliers and handbills in target areas with high concentration of aging
population
 Ensure that all our workers wear our branded shirts and all our vehicles are well
branded with our company’s logo et al.

12. Our Pricing Strategy

Poppas & Mommas Assisted Living Facilities, LLC will work towards ensuring that all our
services are offered at highly competitive prices compare to what is obtainable in The
United States of America.
On the average, assisted living facility service providers usually leverage on the fact that a
good number of their clients do not pay the service charge from their pockets; private
insurance companies, Medicare and Medicaid are responsible for the payment.
In view of that, it is easier for home assisted living facility service providers to bill their
clients based in their discretions. Be that as it may, we have put plans in place to offer
discount services once in a while and also to reward our loyal customers especially when
they refer clients to us.

 Payment Options

At Papas & Mamas Assisted Living Facilities, LLC, our payment policy is all inclusive
because we are quite aware that different people prefer different payment options as it suits
them. Here are the payment options that will be available in every of our outlets;

 Payment by cash
 Payment via Point of Sale (POS) Machine
 Payment via online bank transfer (online payment portal)
 Payment via Mobile money
 Check (only from loyal customers)

In view of the above, we have chosen banking platforms that will help us achieve our
payment plans without any itches.

13. Startup Expenditure (Budget)

If you are looking towards starting an assisted living facility business, then you should be
ready to go all out to ensure that you raise enough capital to cover some of the basic
expenditure that you are going to incur. The truth is that starting this type of business does
not come cheap.
You would need money to secure a standard residential facility big enough to accommodate
the number of people you plan accommodating per time, you could need money to acquire
medical equipment and supply and you would need money to pay your workforce and pay
bills for a while until the revenue you generate from the business becomes enough to pay
them.
The items listed below are the basics that we would need when starting our assisted living
facility business in the United States;

 The Total Fee for Registering the Business in New Jersey – $750.
 Legal expenses for obtaining licenses and permits – $1,500.
 Marketing promotion expenses for the grand opening of Papas & Mamas Assisted
Living Facilities, LLC in the amount of $3,500 and as well as flyer printing (2,000
flyers at $0.04 per copy) for the total amount of – $3,580.
 Cost for hiring Consultant – $2,500.
  Cost for Computer Software (Accounting Software, Payroll Software, CRM Software,
Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk
Reference software) – $7,000
 Insurance (general liability, workers’ compensation and property casualty) coverage
at a total premium – $3,400.
 Cost for leasing a standard and secured facility in Cape – May, New Jersey for 2
years – $500,000
 Cost for facility remodeling – $20,000.
 Other start-up expenses including stationery ($500) and phone and utility deposits
($2,500).
 Operational cost for the first 3 months (salaries of employees, payments of bills et al)
– $100,000
 The cost for Start-up inventory (stocking with a wide range of products such as
toiletries, food stuffs and drugs et al) – $50,000
 Storage hardware (bins, rack, shelves,) – $3,720
 The cost for the purchase of furniture and gadgets (Beds, Computers, Printers,
Telephone, TVs, tables and chairs et al): $4,000.
 The cost of Launching a Website: $700
 Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our home health care
services company in Miami Beach – Florida. Please note that this amount includes the
salaries of all the staff for the first month of operation.
Generating Funding / Startup Capital for Papas & Mamas Assisted Living Facilities,
LLC
Papas & Mamas Assisted Living Facilities, LLC is a family business that is solely owned
and financed by Mrs. Ruth Bob – Simpson and her family. They do not intend to welcome
any external business partners which is why he has decided to restrict the sourcing of the
start – up capital to 3 major sources.
These are the areas Papas & Mamas Assisted Living Facilities, LLC intends to generate our
start – up capital;

 Generate part of the start – up capital from personal savings

 Source for soft loans from family members and friends
 Apply for loan from my Bank

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft
loan from family members $50,000) and we are at the final stages of obtaining a loan facility
of $550,000 from our bank. All the papers and document have been signed and submitted,
the loan has been approved and any moment from now our account will be credited with the
amount.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity
and competence of the employees, their investment strategy and the business structure. If
all of these factors are missing from a business (company), then it won’t be too long before
the business close shop.
One of our major goals of starting Papas & Mamas Assisted Living Facilities, LLC is to build
a business that will survive off its own cash flow without the need for injecting finance from
external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer
our assisted living facility services a little bit cheaper than what is obtainable in the market
and we are well prepared to survive on lower profit margin for a while.
Papas & Mamas Assisted Living Facilities, LLC will make sure that the right foundation,
structures and processes are put in place to ensure that our staff welfare are well taken of.
Our company’s corporate culture is designed to drive our business to greater heights and
training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our
management staff and it will be based on their performance for a period of three years or
more. We know that if that is put in place, we will be able to successfully hire and retain the
best hands we can get in the industry; they will be more committed to help us build the
business of our dreams.
Check List / Milestone

 Business Name Availability Check: Completed

 Business Registration: Completed
 Opening of Corporate Bank Accounts: Completed
 Securing Point of Sales (POS) Machines: Completed
 Opening Mobile Money Accounts: Completed
 Opening Online Payment Platforms: Completed
 Application and Obtaining Tax Payer’s ID: In Progress
 Application for business license and permit: Completed
 Purchase of Insurance for the Business: Completed
 Leasing of facility and remodeling the facility: In Progress
 Conducting Feasibility Studies: Completed
 Generating capital from family members: Completed
 Applications for Loan from the bank: In Progress
 Writing of Business Plan: Completed
 Drafting of Employee’s Handbook: Completed
 Drafting of Contract Documents and other relevant Legal Documents: In Progress
 Design of The Company’s Logo: Completed
 Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In
Progress
 Recruitment of employees: In Progress
 Purchase of Medical Equipment and vans et al: In Progress
 Purchase of the Needed furniture, racks, shelves, computers, electronic appliances,
office appliances and CCTV: In progress
 Creating Official Website for the Company: In Progress
 Creating Awareness for the business both online and around the community: In
Progress
 Health and Safety and Fire Safety Arrangement (License): Secured
  Opening party / launching party planning: In Progress

Frequently Asked Questions

1. How Do You Get A Grant for An Assisted Living Facility?
In order to get a grant for an Assisted Living Facility, you need to first determine your
funding needs, contact government agencies, utilize the SBA Website and look into minority
Grants.
2. Is There Financial Aid For Assisted Living?
Yes, there is Financial Aid for Assisted Living. Financial assistance from Medicaid for
assisted living comes through several different types of Medicaid programs. States are
increasing the level of assistance they offer to persons in assisted living because this living
environment is less expensive than skilled nursing homes, and therefore, less costly to the
state.
3. Can You Negotiate Assisted Living Costs?
There is not a straight answer to this because, while most communities resist negotiating on
the monthly rent, they will often waive the “community fee” which can equal several months’
rent or offer “move-in” credits.
4. How Does HUD Define Assisted Living Facilities?
Assisted Living Facilities (ALFs) are designed to accommodate frail elderly people and
people with disabilities who can live independently but need assistance with activities of
daily living (e.g., assistance with eating, bathing, grooming, dressing and home
management activities).
5. Can Social Security Pay for Assisted Living?
Yes, Social Security can pay for assisted living. Please note that in most states, Social
Security (through Optional State Supplements) provides financial assistance for persons
that reside in assisted living communities provided they meet the eligibility criteria.
6. Who Is Responsible for Paying for Assisted Living Services?
Medicaid is one of the most common ways to pay for an assisted living service even when
you have no money available. Even if you have had too much money to qualify for Medicaid
in the past, you may find that you are eligible for Medicaid nursing home care because the
income limits are higher for this purpose.
7. When Should You Go To Assisted Living?

 When Care is Becoming Untenable

 When Accidents Happen with Frequency
 When Medical Care is Needed with More Frequency
 When Fundamental Personal Care Tasks Become More Difficult
 When Diet Suffers
 When House Up-keep is Neglected
 When there is Lack of Companionship
  When your Home Becomes Dangerous
 When you suffer Memory Loss
 Neglect of Bills and Financial Obligations
 Angry/Aggressive Moods
 Risky Driving Behaviors

8. Are Assisted Living Facilities A Good Investment?

Yes, assisted living facilities are a good investment. But you must be hardworking. As a
matter of fact, in the United States of America alone, there are about 18,076 licensed and
registered Assisted Living Facility businesses responsible for employing about 909,415
employees and the industry rakes in a whooping sum of $62bn annually with an annual
growth rate projected at 3.7 percent. This goes to show that it is a thriving industry.
9. Can You Turn Your Home Into An Assisted Living Facility?
Yes, you can convert your home into an assisted living facility in the United States.
However, you will need to see the regulations in your state and apply them to the structure
you are considering for conversion to an Assisted Living Facility.
10. Does Medicare Cover Assisted Living Costs?
Usually, Medicare does not cover the costs of assisted living facilities or long-term care
facilities. However, Medicare will cover qualified healthcare costs while your loved one is
living at a certain facility. Medicare is more often used to pay for a skilled nursing facility or
home health care.
11. How Does One Pay For Assisted Living?
Most families cover assisted living costs using private funds—often a combination of
savings, Social Security benefits, pension payments and retirement accounts. However,
there are some government programs and financial tools that can offer help paying for
assisted living.
12. What Is The Difference Between Personal Care Home And Assisted Living?
The primary difference is that if residents in a Personal Care community would require the
services of health care, formerly known as skilled nursing, they would have access to a
health care center within the organization. At an Assisted Living community there is no
health care center, so additional services are brought to that resident for as long as
possible. If a healthcare stay is needed, they will be discharged to a health care center.
13. How Do You Start A Nonprofit Assisted Living Facility?
In order start a nonprofit assisted living facility, you should;

 Conduct your feasibility studies

 Choose a name and register the nonprofit assisted living facility
 Draft a detailed Business Plan
 Secure the needed licenses and permits
 Apply for an EIN (Employer Identification Number) / Federal Tax ID Number.
 Open a corporate bank account
 Rent and furnish a residential facility
  Hire employees
 Market your assisted living service

14. What Is The Difference Between Assisted Living And Residential Care Facility?
The primary difference is that, Residential Care Facilities are smaller than assisted living
facilities, residential care facilities can be as small as private homes that have been
converted to include living spaces for the elderly.
There are 2 levels of residential care facilities-the first level provides the minimum care and
does not need a professional licensed Nursing Home Administrator to be a part of the
management. The higher level requires a licensed Nursing Home Administrator and permits
for the supervision of medical care under the direction of a physician.
15. How Much Money Can You Make Owning An Assisted Living Facility?
In general, assisted living facilities can charge between $2,000 and $4,000 per resident per
month. But note that the exact cost depends on the location and the quality of the facility.
The amount you can make in this business depends on the size of the facility as well as its
amenities.
If you have a large facility with top – notch amenities and maintain full capacity, profits have
the potential to reach the six – figure mark or higher. If you build a true brand and open
additional assisted living facilities at new locations, it is possible to make several thousands
of dollars in profit.
16. What Qualifications Do You Need To Run A Care Home?
You would need;

 A professional social work qualification.

 A nursing diploma or degree (required when nursing care is provided by the home).
 A relevant NVQ at Level 4, such as health and social care (adults) or health and
social care (children and young people).

17. What Are The Requirements For Opening A Day Care Center?

 Early Childhood Education and Certification

 Government Approved and Safe Facility
 State and County License and Permits
 Health Clearance Certificate

18. How Do You Get A Grant For A Nonprofit?

You get grant by applying for grants. Please note that the different components of the
application will vary with each grant, but you will be expected to be prepared to write a
proposal for your business and every idea surrounding your concept. You will also have to
clearly explain how the funding will help you put your ideas into practice.
19. How Do You Start Your Own Assisted Living Business?

 Conduct your feasibility studies

  Choose a name and register the assisted living business
 Draft a detailed Business Plan
 Secure the needed licenses and permits
 Apply for an EIN (Employer Identification Number) / Federal Tax ID Number.
 Open a corporate bank account
 Rent and furnish a residential facility
 Hire employees
 Market your assisted living services

20. How Long Does It Take To Get Into Assisted Living?

Senior living experts say it typically takes between three and six months for someone to
adjust to assisted living. That’s an average. It might be quicker; it may take longer. Stay
focused on the reasons you made the decision (safety, health, security, sanity).
21. How Much Does It Cost To Start A Residential Care Home?
A Forbes article on assisted living facilities estimates the cost of an 80-bed facility at $11
million (or $130,000 to $145,000 per bed). Three to six months’ operating expenses should
be part of the budgeted start-up costs. The level of operating costs will depend on the type
and size of the facility to be created.
22. What Is Adult Day Care?
An Adult day care is a planned program of activities in a professional care setting designed
for older adults who require supervised care during the day, or those who are isolated and
lonely.
23. What Costs Does ALCP Funding Cover?
The Arterial Street Life Cycle Program (ALCP) funding provides for the physical costs of
converting some or all of the units of an eligible development into an ALF or SEH, including
the unit configuration, common and services space, as well as meeting other requirements
described in the NOFA and any necessary remodeling, consistent with HUD or the State’s.
24. How Much Does A Group Home Owner Make?
Group home rates currently range from $20 an hour to $40 per hour, depending on the
location. Small towns and rural areas where living costs are lower, are less, and big cities,
where living costs are high, tend to be on the high side. Nonetheless, the national average
is $27 per hour, which works out to $54,000 a year with a 40 hour work week.
25. What Happens When You Run Out Of Money In Assisted Living?
When you run out of money in an assisted living facility, you can talk to your family
members to raise you money or you can plead with the management of the facility for a
temporal payment waiver.
26. How Much Does It Cost For Assisted Living Per Month?
In general, assisted living facilities can charge between $2,000 and $4,000 per resident per
month. But note that the exact cost depends on the location and the quality of the facility.
27. Is Home Health Care Cheaper Than Assisted Living?
Home care is a less expensive option than assisted living, but if 40 hours or less per week
of paid home care is required, then you will get more with assisted living.
28. How Much Does 247 In Home Care Cost?
Home care cost $15 – $25 per hour for hourly care and $150 – $350 per day for 24-hour
live-in care.
29. How Can You Pay For Assisted Living With No Money?
You can contact your family members to pay for you or you reach out to charity
organizations to pay for you.
30. What Are The Requirements For Applications For Hud Housing In Pennsylvania?

 Find Out If You’re Required to Accept Section 8 Tenants.

 Select a Section 8 Tenant.
 Submit Request for Approval.
 Pass Housing Quality Standards Inspection/Pass Yearly Inspections.
 Collect Security Deposit and Monthly Rent.
 Adhere to Terms of the Lease Agreement.

To apply, contact or visit the management office of each apartment building that interests
you. To apply for either type of help, visit your local Public Housing Agency (PHA).
31. What Is Considered Low Income For Senior Citizens?
According to the Federal government guidelines, a low-income senior is defined as any
individual who has attained the age of 60 and has an income of less than $30,000 a year,
which equates to about $2,450 a month, or about $80 a day.
32. Can Assisted Living Facilities Take All Your Money?
It depends on how much you have. But generally, assisted living facilities are not designed
to take all your money.
33. How Are Assisted Living Costs Determined?
The cost of the room, medication, feeding, and other miscellaneous put together are what
determine the cost for assisted living.
34. Where Do The Elderly Live When They Have No Money?
If an elderly person doesn’t have any money and is unable to make their own decisions and
can no longer live independently, they go through the conservatorship process with the
courts, and usually end up in a skilled nursing facility, covered by Medicaid.
35. What Kind Of Business Can You Start That Involves The Elderly?
Here are some of the businesses you can start that involves the elderly;

 Assisted Living Facility

 Group Home Care Facility
 Elderly Home Nursing Facility
  Residential Care Services
 Adult Care Services
 Senior Care Services
 Seniors’ Needs Service
 In Home Care Service
 Concierge Services

Ajaero Tony Martins

Founder / Publisher at Profitable Venture Magazine Ltd

Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion
for sharing his knowledge with budding entrepreneurs. He is the Executive Producer
@JanellaTV and also doubles as the CEO, POJAS Properties Ltd.