Growthink logo white

Assisted Living Facility Business Plan Template

Written by Dave Lavinsky

Assisted Living Business Plan

Residential Assisted Living Business Plan

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their assisted living facilities. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an assisted living business plan template step-by-step so you can create your plan today.

Download our Ultimate Assisted Living Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your residential assisted living facility as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start an assisted living facility or grow your existing facility, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your assisted living facility in order to improve your chances of success. Your residential assisted living business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Assisted Living Facilities

With regards to funding, the main sources of funding for an assisted living facility are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will want to confirm that your financials are reasonable and see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for an assisted living facility is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a residential assisted living business. They might consider funding an assisted living facility with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.

Finish Your Business Plan Today!

How to write a business plan for a residential assisted living facility.

If you want to start an assisted living facility or expand your current one, you need a business plan. Below we detail what should be included in each section of your residential assisted living business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of facility you are operating and the status; for example, are you a new business, do you have an assisted living facility that you would like to grow, or are you operating a network of assisted living facilities?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the assisted living facility industry. Discuss the type of assisted living facility you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Overview

In your company analysis, you will detail the type of assisted living facility you are operating.

For example, you might operate one of the following types of assisted living facilities:

  • Residential living : this type of facility caters to seniors who need minimal assistance and can manage their daily routines without complex medical monitoring.
  • Memory care : this type of facility specializes in helping seniors who live with Alzheimer’s disease or dementia.
  • Rehabilitation : this type of facility caters to seniors who need physical, speech, or occupational therapy.

In addition to explaining the type of assisted living facility you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include occupancy goals you’ve reached, awards you’ve won, new buildings you’ve opened, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the assisted living facility.

While this may seem unnecessary, it serves multiple purposes.

First, researching the assisted living facility industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your business plan:

  • How big is the assisted living facility industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your assisted living facility. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your assisted living business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: families of seniors requiring minimal to no care, families of seniors needing assistance with activities of daily living, and families of seniors needing memory care.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of assisted living facility you operate. Clearly, families of seniors requiring minimal care would want different services and would respond to different marketing promotions than families of seniors requiring memory care, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the customers you seek to serve. Because most assisted living facilities primarily serve individuals living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

Finish Your Assisted Living Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Assisted Living Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other assisted living facilities.

Indirect competitors are other options that seniors have to choose from that aren’t direct competitors. This includes 55+ retirement communities, residential home care services, or adult daycares. You need to mention such competition to show you understand that not every senior that needs assistance will choose an assisted living facility.

With regards to direct competition, you want to detail the other assisted living facilities with which you compete. Most likely, your direct competitors will be assisted living facilities located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of seniors do they target?
  • What services do they offer?
  • What types of living arrangements do they offer?
  • What is their pricing?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask the families of your competitors’ occupants what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior services?
  • Will you provide services that your competitors don’t offer?
  • Will you make it easier or faster for people to join your facility?
  • Will you offer more physical and social activities?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an assisted living business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of assisted living facility that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to standard services offered at an assisted living facility, will you provide exercise classes and equipment, on-site activities and events, transportation services, or pet accommodations?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your assisted living facility. Document your location and mention how the location will impact your success. For example, is your assisted living facility located in a neighborhood, or near a hospital, etc. Discuss how your location might be beneficial for attracting customers.

Promotions : the final part of your assisted living facility marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

  • Advertising in local papers and magazines
  • Reaching out to local websites
  • Listing the business in targeted online directories
  • Social media marketing
  • Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your assisted living facility, including housekeeping, medical care assistance, and meal services.

Long-term goals are the milestones you hope to achieve. These could include the dates when you reach an occupancy of 100, or when you hope to reach $X in revenue. It could also be when you expect to launch an assisted living facility in a new location.  

Management Team

To demonstrate your assisted living facility’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience working with seniors. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing assisted living facilities or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you have 10 residents or 60? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $100,000 on building out your assisted living facility, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a residential assisted living business:

  • Location build-out including design fees, construction, etc.
  • Cost of equipment like assistive devices, security/surveillance, and medical supplies
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your facility blueprint or location lease.  

Putting together a business plan for your assisted living facility is a worthwhile endeavor. If you follow the free template above, by the time you are done, you will have an expert business plan; download it to PDF to show banks and investors. You will really understand the assisted living facility industry, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful assisted living business.

Assisted Living Business Plan FAQs

What is the easiest way to complete my assisted living business plan.

Growthink's Ultimate Assisted Living Business Plan Template allows you to quickly and easily complete your Assisted Living Business Plan.

How Do You Start a Residential Assisted Living Facility?

Starting an assisted living business is easy with these 14 steps:

  • Choose the Name for Your Assisted Living Business
  • Create Your Assisted Living Business Plan
  • Choose the Legal Structure for Your Assisted Living Business
  • Secure Startup Funding for Your Assisted Living Business (If Needed)
  • Secure a Location for Your Business
  • Register Your Assisted Living Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your Assisted Living Business
  • Buy or Lease the Right Assisted Living Business Equipment
  • Develop Your Assisted Living Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your Assisted Living Business
  • Open for Business

Learn more about how to start a residential assisted living facility .

Where Can I Download an Assisted Living Business Plan PDF?

You can download our  assisted living business plan PDF  template here. This is a business plan template you can use in PDF format.

Don’t you wish there was a faster, easier way to finish your Assisted Living business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning advisor can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Business Plan Template For Small Businesses & Entrepreneurs

sample residential assisted living business plan

Home » Healthcare » Assisted Living

A Sample Residential Assisted Living Business Plan Template

Residential assisted living facilities are created for people who are independent but require day-to-day assistance to be able to carry out basic tasks such as taking their medications, bathing, feeding themselves amongst others. It is important to state that people in licensed residential care may require more assistance daily as they usually have complex health care needs.

Available statistics made available by the NCAL show that today there are over 30,000 assisted living communities with one million licensed beds. The average number of licensed beds within these communities is 33, but the largest facilities can have upwards of 100 beds, while the smallest have as little as four to ten.

The average age of assisted living residents is 84. Though most facilities allow patients as young as 65, 52 percent of residents are over 85 and 30 percent are between 75 and 84.

Steps on How to Write a Residential Assisted Living Business Plan

1. executive summary.

Golden Care® Residential Assisted Living, Inc. is a standard residential assisted living facility that will be based in San Diego, California. The organization will be committed to providing a senior housing option in which residents will receive assistance with activities of daily life in a comfortable, home-like environment.

Our residents will be encouraged to maintain the highest level of independence possible and they will be trained not to need the level of care provided by a skilled nursing facility. Sis. Mary Alphonsus is the founder and CEO of Golden Care® Residential Assisted Living, Inc.

Company Profile

A. our services.

Golden Care® Residential Assisted Living, Inc. will provide a range of assistance to our residents so that they will be able to carry out basic everyday tasks such as taking their medications, bathing, feeding themselves amongst others.

Our services are designed to help our residents live their normal life despite their sickness or the condition of their health.

b. Nature of the Business

Our Residential Assisted Living facility will operate as a nonprofit organization, we will source finance from donor organizations, individuals, and relevant government agencies. In some cases, we will charge residents or their families for the services rendered, but we are designed not to make profits.

c. The Industry

Golden Care® Residential Assisted Living, Inc. will operate under the Assisted Living Facility industry.

d. Mission Statement

Our mission is to provide comfortable, safe, and secure facilities that will help adults and people with disabilities to live and enjoy an independent life in a safe environment.

e. Vision Statement

Our vision is to become the best residential assisted living facility in the whole of California. We will continue to set the standard for players in the Assisted Living Facility industry in the United States of America.

f. Our Tagline (Slogan)

Golden Care® Residential Assisted Living, Inc. – A Family and Home You Can Trust!

g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)

Golden Care® Residential Assisted Living, Inc. will be formed as a nonprofit corporation at the state level and we will apply for 501(c)(3) tax exemption at the federal level.

h. Our Organizational Structure

  • Head of Residential Assisted Living (President)
  • Assisted Living Administrator
  • Medication Management Counselors
  • Nurse’s Aides
  • Home Health Caregivers/Home Caregivers/County Aging Workers Fundraiser
  • Account Officer
  • Front Desk Officer
  • Security Guards

i. Ownership/Shareholder Structure and Board Members

  • Mary Alphonsus (Owner and Chairman/Chief Executive Officer) 52 Percent Shares
  • Rhoda James (Board Member) 13 Percent Shares
  • Fr. Philips Linus (Board Member) 10 Percent Shares
  • Fr. Peter Shadrack (Board Member) 10 Percent Shares
  • Bridgette Roderick (Board Member and Sectary) 10 Percent Shares.

SWOT Analysis

A. strength.

  • Ideal Location for a residential assisted living facility
  • Highly Experienced and Qualified Employees and Management
  • Access to Pool of Donor Organizations
  • Highly Secured, Clean and Well-structured Facility
  • Easy Access to Critical Medications, Drugs, and Other Supplies

b. Weakness

  • Budget Limitations
  • Lack of Customized Software
  • Inability to initially run and manage the organization without the support of donations and grants
  • Operating from a leased facility (restriction to fully modify the facility to suit our style and taste)
  • Inability to retain our highly experienced and qualified employees longer than we want

c. Opportunities

  • San Diego, California has loads of aging population.
  • The government of California gives support to organizations like ours
  • Finance from donor organizations, individuals, and relevant government agencies et al.

i. How Big is the Industry?

The Assisted Living Facility industry is worth over $33 billion in the United States and there are about 20,855 licensed and registered residential assisted livings with a workforce of about 506,551 scattered all across the United States. Please note that currently, around one million Americans live in some type of senior living community, and that number is expected to double by the year 2030.

ii. Is the Industry Growing or Declining?

The assisted living facility industry is growing. As the baby boomer generation continues to enter retirement age, demand for senior care services has surged. Available data shows that by the year 2040, the 85+ population is expected to triple from the 5.7 million there were in 2011 to 14.1 million.

iii. What are the Future Trends in the Industry

The Assisted Living Facility industry is changing, and players in the industry are improvising. No doubt, robotic technology, and specialized software will change the landscape of the Assisted Living Facility industry going forward.

iv. Are There Existing Niches in the Industry? If YES, List them

Yes, there are niche ideas in the Assisted Living Facility industry, and here are some of them;

  • Continuing care retirement communities
  • Assisted living facilities and homes for the elderly
  • Independent-living facilities

v. Can You Sell a Franchise of your Business in the Future?

Golden Care® Residential Assisted Living, Inc. has plans of selling franchises in the nearest future and we will target major cities that have fast-growing aging populations in the United States of America.

  • Lack of support from stakeholders and the government
  • Unfavorable government policy and regulations.
  • Community resistance
  • Liability problems
  • Continuously changing consumer demands

i. Who are the Major Competitors?

  • Harbor House Assisted Living
  • Golden Living Assisting Hands
  • Assisted Living Concepts Inc
  • Assisting Hands Home Care
  • HCR ManorCare
  • Brookdale Senior Living, Inc
  • Brotoloc Health Care Systems Inc
  • Tutera Senior Living & Health Care
  • Keystone Senior Management Services
  • Volunteers of America National Services
  • Evangelical Lutheran Good Samaritan Society
  • Life Care Centers of America
  • Capitol Senior Living
  • National Healthcare Corp.
  • 5 Star Quality Care
  • Benedictine Health System
  • Hospice care
  • Genesis HealthCare Corp
  • Senior Lifestyle Corporation
  • Sunrise Senior Living, Inc.

ii. Is There a Franchise for Residential Assisted Living? If YES, List them and their cost

  • Assisting Hands Home Care (Initial Investment – $77,050 – $149,000)
  • BeeHive Homes Assisted Living (Investment Range – $250,000 – $1,000,000)
  • Accessible Home Health Care (Minimum Cash Required – $100,000)
  • Acti-Kare Responsive In-Home Care (Minimum Cash Required – $30,000)
  • BrightStar Care® (Initial Investment – $93,048 – $154,307)
  • Golden Heart Senior Care (Minimum Cash Required – $45,000)
  • Amada Senior Care (Initial Investment – Low – $85,010 / High – $178,154)
  • Always Best Care (Minimum Cash Required – $60,000)
  • Options For Senior America (Minimum Cash Required – $50,000)
  • A Place at Home (Minimum Cash Required – $100,000)

iii. Are There Policies, Regulations, or Zoning Laws Affecting Residential Assisted Living facilities?

Yes, there are county or state regulations or zoning laws for Residential Assisted Living facilities. The law in the United States states that before a non-medical home care facility such as Residential Assisted Living can commence operations, there should be at least six residents and at least one trained caregiver there 24 hours a day and 7 days a week.

So also, a standard Residential Assisted Living is expected to have a qualified assisted living administrator, night manager, and 2 or more caregivers depending on the size of the facility.

Marketing Plan

A. who is your target audience.

i. Age range

Our target market falls within 65 years and older.

ii. Level of Educational

We don’t have any restriction on the level of education of those we will accommodate in our residential assisted living.

iii. Income Level

We don’t have any cap on the income level of those we will accommodate in our residential assisted living. Besides, most people who are admitted to residential assisted living have no source of income.

iv. Ethnicity

There is no restriction when it comes to the ethnicity of the people we will welcome to our residential assisted living.

v. Language

There is no restriction when it comes to the language spoken by the people we will welcome into our residential assisted living.

vi. Geographical Location

Residents from any geographical location will be welcomed in our residential assisted living.

vii. Lifestyle

Golden Care® Residential Assisted Living, Inc. will not restrict anyone from accessing our services based on their lifestyle, culture, or race.

b. Advertising and Promotion Strategies

  • Build a Referral Network.
  • Tap Into Text Marketing.
  • Create a call to action that rocks.
  • Create landing pages that convert.
  • Turn our Social Media Channels Into a Resource
  • Develop our Business Directory Profiles
  • Promote our residential assisted living through multiple channels
  • Build Relationships with Other Nonprofits and related organizations in our Area

i. Traditional Marketing Strategies

  • Marketing through Direct Mail.
  • Print Media Marketing – Newspapers & Magazines.
  • Broadcast Marketing -Television & Radio Channels.
  • OOH, Marketing – Public Transits like Buses and Trains, Billboards, Street shows, and Cabs.
  • Direct mail (postcards, brochures, letters, fliers), print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.

ii. Digital Marketing Strategies

  • Social Media Marketing Platforms.
  • Influencer Marketing.
  • Email Marketing.
  • Content Marketing.
  • Search Engine Optimization (SEO) Marketing.
  • Affiliate Marketing
  • Mobile Marketing.

iii. Social Media Marketing Plan

  • Start using chatbots.
  • Create a personalized experience for customers.
  • Create an efficient content marketing strategy.
  • Create a community for our audience (people age 65 and older).
  • Gear up our profiles with a diverse content strategy.
  • Use brand advocates.
  • Create profiles on the relevant social media channels.
  • Run cross-channel campaigns.

c. Pricing Strategy

When working out our pricing strategy, Golden Care® Residential Assisted Living, Inc. will make sure it covers upkeep, medications, premium, economy or value, and full care package for each resident in our facility, In all our pricing strategy will reflect;

  • Cost-Based Pricing
  • Value-Based Pricing
  • Competition-Based Pricing.

Sales and Distribution Plan

A. sales channels.

Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners, religious organizations, nonprofit organizations, and charity to help refer residents to us.

Golden Care® Residential Assisted Living, Inc. will also leverage the 4 Ps of marketing which are the place, price, product, and promotion. By carefully integrating all these marketing strategies into a marketing mix, we can have a visible, in-demand service that is competitively priced and promoted to our customers.

b. Inventory Strategy

The fact that we will need toiletries, disinfectants, sanitizers, hand gloves, medications, and foodstuffs means that Golden Care® Residential Assisted Living, Inc. will operate an inventory strategy for ordering, maintaining, and processing items in our warehouse. We will develop our strategy with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.

Golden Care® Residential Assisted Living, Inc. will make sure we work with “Just-in-time (JIT) inventory” – (JIT involves holding as little stock as possible, negating the costs and risks involved with keeping a large amount of stock on hand.)

c. Payment Options for Customers

Here are the payment options that Golden Care® Residential Assisted Living, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer

d. Return Policy, Incentives, and Guarantees

At Golden Care® Residential Assisted Living, Inc., we offer services, and the nature of the services we offer does not accommodate return policy and incentives, but we guarantee our residents that they will get maximum assistants that will help them carry out their daily activities without any hindrance.

e. Customer Support Strategy

Our customer support strategy will involve seeking customers’ feedback. This will help us provide excellent customer service to our residents, it will help us to first understand their needs, experiences, and pain points. We will work with an effective CRM software to achieve this.

Operational Plan

Our operational plan will cover capacity planning, location planning, layout planning, quality planning, and methods planning.

Overall, we plan to expand our revenue by 25 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include attracting grants and using fundraising strategies that will help the firm to boost our service offerings and to support revenue growth.

a. What Happens During a Typical Day at a Residential Assisted Living?

Residential assisted living means that the workers are supposed to reside in the facility and their typical day-to-day activities revolve around the facility. Our day starts by;

  • Helping residents get into/out of bed or chair.
  • Helping residents with toilet hygiene.
  • Helping residents with Bathing or Showering.
  • Helping residents with Getting Dressed.
  • Helping residents with Personal hygiene.
  • Helping residents with feeding and taking medications.
  • Assist residents in Walking/Climbing Stairs.
  • Be available to carry out safety and emergency responses when required.

b. Production Process (If Any)

There is no production process when it comes to Residential Assisted Living.

c. Service Procedure (If Any)

The services procedure for a residential assisted living facility is geared towards assisting and teaching skills required to manage one’s basic physical needs, including personal hygiene or grooming, dressing, toileting, transferring or ambulating, bladder control, toilet use, transfers (bed to chair and back), mobility on level surfaces, feeding, and bathing.

d. The Supply Chain

Golden Care® Residential Assisted Living, Inc. will rely on hospitals, religious organizations, and government agencies in our city to refer residents to us. So also, we have been able to establish business relationships with wholesale supplies of toiletries, disinfectants, sanitizer, hand gloves, medications, and foodstuffs et al.

e. Sources of Income

Golden Care® Residential Assisted Living, Inc. will make money from;

  • Fees paid by residents or from Medicare
  • Contributions for partners and donors
  • Grants from government agencies and charity organizations
  • Community support.

Please note that a report released by Genworth Financial shows that the average cost of assisted living in 2020 was $4,300 per month. So also, a report published by the National Center for Assisted Living shows that the median cost for assisted living in the United States is about $4,300 per month or $51,600 annually.

Financial Plan

A. amount needed to start your residential assisted living.

Golden Care® Residential Assisted Living, Inc. would need an estimate of $450,000 to successfully set up our residential assisted living in the United States of America. Please note that this amount includes the salaries of all staff for the first month of operation.

b. What are the Cost Involved?

  • Business Registration Fees – $750.
  • Legal expenses for obtaining licenses and permits – $7,300.
  • Marketing, Branding and Promotions – $5,000.
  • Business Consultant Fee – $2,500.
  • Insurance – $5,400.
  • Rent/Lease – $250,000.
  • Other start-up expenses including, commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
  • Operational Cost (salaries of employees, payments of bills et al) – $40,000
  • start-up inventory – $15,000
  • Store Equipment (cash register, security, ventilation, signage) – $4,750
  • Furnishing and Equipping – $80,000
  • Website: $600
  • Miscellaneous: $2,000

c. Do You Need to Build a Facility? If YES, How Much will it cost?

Golden Care® Residential Assisted Living, Inc. will not build a new facility for our residential assisted living; we intend to start with a long-term lease and after 5 years, we will start the process of acquiring our own facility.

d. What are the Ongoing Expenses for Running a Residential Assisted Living?

  • Cost of stocking up supplies such as medications, toiletries, disinfectants, sanitizer, hand gloves and beddings et al
  • Cost of food supplies and ingredients
  • Utility bills (gas, internet, phone bills, signage and sewage et al)
  • Salaries of employees

e. What is the Average Salary of your Staff? List the Job Position and their proposed salary based on industry rate and your startup capital

  • Head of Residential Assisted Living (President) – $45,000 Per Annum
  • Assisted Living Administrator – $36,034 Per Annum
  • Medication Management Counselors – $35,600 Per Annum
  • Nurse’s Aides – $30,660 Per Annum
  • Home Health Caregivers/Home Caregivers / County Aging Workers – $32,878 Per Annum
  • Fundraiser – $36,500 Per Annum and based on target
  • Account Officer – $35,000 Per Annum
  • Front Desk Officer – $28,000 Per Annum
  • Cleaners – $22,000 Per Annum
  • Security Guard – $22,000 Per Annum

f. How Do You Get Funding to Start a Residential Assisted Living

  • Raising money from personal savings and sale of personal stocks and properties
  • Raising money from investors and business partners
  • Sell shares to interested investors
  • Applying for a loan from your bank/banks
  • Pitching your business idea and applying for business grants and seed funding from, government, donor organizations, and angel investors
  • Source for soft loans from your family members and your friends.

Financial Projection

A. how much should you charge for your service.

At Golden Care® Residential Assisted Living, Inc., our monthly fees for independent living will be $4,315 for assisted living and $5,779 for memory care.

But it is important to note that at Golden Care® Residential Assisted Living, Inc., most of the fees charged our residents are paid by our donors, participating providers, and communities, so we will offer our residents a completely cost-free service with no hidden fees.

b. Sales Forecast?

  • First Fiscal Year (FY1): $250,000
  • Second Fiscal Year (FY2): $450,000
  • Third Fiscal Year (FY3): $550,000

c. Estimated Profit You Will Make a Year?

Golden Care® Residential Assisted Living, Inc. will operate as a nonprofit organization.

d. Profit Margin of a Residential Assisted Living 

Golden Care® Residential Assisted Living, Inc. is designed not to make profits hence we don’t have a profit margin for our services.

Growth Plan

Golden Care® Residential Assisted Living, Inc. will grow by first opening other outlets in key cities in the United States of America within the first five years of establishing the business. We will start selling franchises from the sixth year.

Golden Care® Residential Assisted Living, Inc. plans to expand first to other cities in California, and then to Florida and Texas.

The reason we intend to expand to these geographic locations is that available statistics show that the cities listed above have the highest number of aging people. About 52 million Americans are age 65 or older, according to the Census Bureau’s 2018 population estimates. One-quarter of these older Americans live in one of three states: California, Florida, and Texas.

The founder of Golden Care® Residential Assisted Living, Inc. plans to exit the business via merger and acquisition. We intend to merge with an international charity organization that has a world spread so that the management of the company can be placed under a trusted hand when the founder retires.

The goal of combining two or more charitable organizations that are into assisted living on a global scale is to try and achieve synergy – where the whole (the new company) is greater than the sum of its parts (the former two separate entities) and with a well-structured management team and board of trustee.

More on Assisted Living

PlanBuildr Logo

Assisted Living Facility Business Plan Template

Written by Dave Lavinsky

Assisted Living Facility Business Plan

You’ve come to the right place to create your assisted living facility business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their assisted living facilities.

Assisted Living Facility Business Plan Example

Below is a template to help you create each section of your sample residential care home business plan.

Executive Summary

Business overview.

Portland Village Assisted Living is a startup assisted living facility located in Portland, Oregon. The company is founded by James Martin, an experienced assisted living facility manager who has transformed the struggling PALF Oregon facility into a thriving assisted living business through efficient and strategic management decisions. Now that James has garnered a reputation for being a positive driver for change in the industry, he is ready to venture out with his new facility, Portland Village Assisted Living. James is confident that his experience and expertise in change management, problem solving, and policy implementation will quickly garner support for his new assisted living facility. James plans on recruiting a team of highly qualified professionals including registered nurses, activity directors, and maintenance staff to help manage the day to day complexities of assisted living.

Portland Village Assisted Living will provide a comprehensive array of services that will appeal to its target clientele of seniors living in the Portland area who are looking to get the most out of their assisted living experience. Portland Village Assisted Living will ensure that every need of the residents is being met. Portland Village Assisted Living will be the ultimate choice in Portland for assisted living while being the most reasonably priced facility for the services provided compared to other assisted living facilities in the area.

Product Offering

The following are the services that Portland Village Assisted Living will provide:

  • Assistance with everyday living needs
  • Dining program
  • Emergency call systems and 24-hour onsite security
  • Exercise, education, and recreation programs
  • Health and wellness programs
  • Housekeeping and laundry service
  • Social and religious programs
  • Transportation accommodations

Customer Focus

Portland Village Assisted Living will target all seniors over the age of 65 who need a little help with one or more daily activities such as bathing, dressing, or managing their medications. No matter the resident, Portland Village Assisted Living will deliver a caring, comfortable environment with a customer-first focus in every aspect of the facility.

Management Team

Portland Village Assisted Living will be owned and operated by James Martin. He recruited a Registered Nurse, Jessica Williams, to be the Nursing Director and help manage the day-to-day nursing needs of the residents.

James Martin is a graduate of the University of Oregon with a Master’s degree in Healthcare Management. He has been working at a local assisted living home for over a decade as an Administrator. James’s leadership and problem solving skills have allowed him to develop a reputation for driving positive change in the industry.

Jessica Williams has been a Registered Nurse and worked with James at the PALF Oregon facility for over ten years. James relies strongly on Jessica’s organization, expertise, and focus when caring for residents. Jessica has worked in the assisted living industry for so long, she understands all aspects required in managing the nursing needs of residents.

Success Factors

Portland Village Assisted Living will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly qualified team of healthcare and management professionals that are able to effectively maintain a welcoming environment for all residents and staff.
  • Comprehensive menu of services that allows for a resident to have all of their needs met. Portland Village Assisted Living takes care of everything from daily assistance and medication management to entertainment and dining programs. Portland Village Assisted Living has something for everyone with its extensive list of educational, social, and recreational activities available.
  • Portland Village Assisted Living offers the best pricing for a facility with this level of comprehensive services.

Financial Highlights

Portland Village Assisted Living is seeking $1,000,000 in debt financing to launch the assisted living business. The funding will be dedicated towards a down payment to purchase the facility and new furnishings for the facility. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, working capital, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

  • Down payment on facility: $500,000
  • Furnishings and improvements for units and common areas: $150,000
  • Three months of overhead expenses (payroll, supplies, utilities): $150,000
  • Marketing costs: $100,000
  • Working capital: $100,000

The following graph below outlines the pro forma financial projections for Portland Village Assisted Living.

sample residential assisted living business plan

Company Overview

Who is portland village assisted living.

Portland Village Assisted Living is a newly established assisted living facility in Portland, Oregon. Portland Village Assisted Living will be the most welcoming, affordable, and secure assisted living facility in the area. Portland Village Assisted Living will provide a comprehensive menu of assisted living services to suit the needs of any resident over the age of 65. Their customer-focused approach will include a wide range of activities available, 24/7 nursing staff, onsite security, and a customizable dining program.

Portland Village Assisted Living will be able to provide its residents with the best quality care in a friendly, supportive environment. The team of professionals are highly qualified and experienced in healthcare management, resident issues, and activity oversight. Portland Village Assisted Living handles all challenges of the residents and ensures all issues are taken care of expeditiously while delivering the best service.

Portland Village Assisted Living History

Portland Village Assisted Living is owned and operated by James Martin, an experienced assisted living facility manager who has transformed the struggling PALF Oregon facility into a thriving business through efficient and strategic management decisions. James is confident that his experience and expertise in change management, problem solving, and policy implementation will quickly garner support for his new assisted living facility. James plans on recruiting a team of highly qualified professionals including registered nurses, activity directors, and maintenance staff to help manage the day to day complexities of assisted living.

Since incorporation, Portland Village Assisted Living has achieved the following milestones:

  • Registered Portland Village Assisted Living, LLC to transact business in the state of Oregon.
  • Has negotiated the purchase of a 20 unit facility in a centrally located area that is close to multiple hospitals and healthcare facilities.
  • Began recruiting a staff of activity directors, nurses, maintenance managers, and housekeepers to work at the facility.

Portland Village Assisted Living Services

Industry analysis.

The United States Assisted Living industry is currently valued at $87.4B and is expected to grow as much as 5.48% over the next eight years. The primary driver for market growth is the increasing number of senior citizens seeking assistance, companionship, and security that can be provided by assisted living facilities. The rise in the senior population due to a rise in life expectancy is forecast to grow rapidly in the coming years. Approximately 8.5% of the global population is 65 years old or above. The number of Americans ages 65 and older is projected to reach 95M by 2060.

Some of the key factors driving the U.S. assisted living facility market growth include a growing awareness and desire of seniors to age in home-based services and the lower cost of assisted living facilities versus nursing homes. There are currently around 30,000 facilities in the U.S. Approximately 800,000 seniors live in these assisted living facilities across the country. The average assisted living facility resident is between 76-82 years old with an average income of $50,000-$70,000.

Customer Analysis

Demographic profile of target market.

Portland Village Assisted Living will target all seniors over the age of 65 living in the Portland area who are looking to get the most out of their assisted living experience. Specifically, Portland Village Assisted Living will target seniors who need a little help with one or more daily activities such as bathing, dressing, or managing their medications. No matter the resident, Portland Village Assisted Living will deliver a caring, comfortable environment with a customer-first focus in every aspect of the facility.

The precise demographics for Portland, Oregon are:

Customer Segmentation

Portland Village Assisted Living will primarily target the following customer profiles:

  • Men and women at least 65 years old who need help with only a few activities of daily living such as bathing or walking.
  • Men and women at least 65 years old with high blood pressure.
  • Men and women at least 65 years old with Alzheimer’s disease or other dementias.

Competitive Analysis

Direct and indirect competitors.

Portland Village Assisted Living will face competition from other assisted living facilities with similar business profiles. A description of each competitor facility is below.

PALF Oregon

PALF Oregon is an established assisted living facility in Portland, Oregon. This company operates an expansive assisted living facility with 24/7 nursing staff, an abundance of education and social activities provided throughout the day, and resort-style living accomodations. Their list of services includes health and wellness programs, educational workshops, supervised recreation activities, and a full menu of nutritious foods served from 6AM-9PM. PALF Oregon is also able to provide transportation accommodations, medication administration, and one-on-one fitness coaching.

PALF Oregon’s promise is to deliver quality care with honesty and integrity, and 24/7 availability of the nursing team. PALF Oregon’s team of experienced healthcare and management professionals ensures activities run smoothly, property maintenance is proactive, and residents get the care they need, when they need it.

OR Home Assisted Living

OR Home Assisted Living is a Portland, Oregon-based assisted living facility that provides outstanding senior care for individuals over the age of 75. OR Home Assisted Living takes the risk out of finding quality assisted living care. They provide comprehensive assisted living services for qualified tenants, and maintain stringent standards for their nursing and activity staff. The owners of OR Home Assisted Living are former healthcare professionals so they understand how an assisted living facility should be managed. Residents can depend on their unique screening processes to hire only highly qualified staff. Amenities offered include a full-service restaurant, rec center, and health club.

Oregon’s Best Assisted Living

Oregon’s Best Assisted Living is a trusted Portland assisted living facility that provides superior service to residents 65 years old and over. They are able to provide a comprehensive health and wellness regimen, highly qualified nursing staff, and superior security. Oregon’s Best Assisted Living is a condominium style environment for seniors who need minimal assistance with just a few daily activities such as dressing or walking. This facility provides a packed schedule of activities that seniors can enjoy throughout their tenure in the facility including clubs, classes, and social events.

Competitive Advantage

Portland Village Assisted Living will be able to offer the following advantages over their competition:

  • Highly qualified team of healthcare, management, and security professionals that are able to effectively maintain a welcoming environment while ensuring safety and security for all residents and staff.
  • Comprehensive menu of services that allows for a resident to have all of their needs met. Portland Village Assisted Living takes care of everything from daily assistance and medication management to entertainment and dining programs.
  • Portland Village Assisted Living offers competitive pricing for a facility with this level of services compared to other facilities in the area.

Marketing Plan

Brand & value proposition.

Portland Village Assisted Living will offer the unique value proposition to its clientele:

  • Friendly, knowledgeable, and highly qualified team of professionals that are able to cater to each individual resident’s needs.
  • Portland Village Assisted Living has something for everyone with its extensive list of educational, social, and recreational activities available.

Promotions Strategy

The promotions strategy for Portland Village Assisted Living is as follows:

Word of Mouth/Referrals

James Martin has built up an extensive list of contacts over the years by providing exceptional service to his residents. Many of these contacts have communicated to James that they intend to help spread the word of Portland Village Assisted Living to their friends and families.

Professional Associations and Networking

Portland Village Assisted Living will become a member of professional associations such as the International Council on Active Aging (ICAA), American Seniors Housing Association (ASHA), and the National Investment Center for Seniors Housing & Care (NIC). The company will attend industry conferences and events to network with other professionals and promote Portland Village Assisted Living.

Print Advertising

Portland Village Assisted Living will invest in professionally designed print ads to display in programs or flyers at industry networking events.

Website/SEO Marketing

Portland Village Assisted Living will develop and maintain an attractive website that will be well organized, informative, and list all their services that Portland Village Assisted Living is able to provide. The website will also list their contact information and list their available units and pricing.

The company’s in-house marketing director will manage Portland Village Assisted Living’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Portland assisted living facility” or “assisted living near me”, Portland Village Assisted Living will be listed at the top of the search results.

Social Media Marketing

The company’s marketing director will create and maintain an active presence on multiple social media platforms including LinkedIn, Twitter, Facebook, Instagram, and YouTube to promote the facility.

The pricing of Portland Village Assisted Living will be moderate, so residents feel they receive real value when choosing this facility over higher-priced competitors.

Operations Plan

The following will be the operations plan for Portland Village Assisted Living.

Operation Functions:

  • James Martin will be the Owner and Administrator of the company. He will oversee all staff and manage client relations. James has spent the past year recruiting the following staff:
  • Jessica Williams – Director of Nursing who will manage the nursing staff and services.
  • Kim Smith – Admissions Coordinator who will manage all resident admissions and acclimation processes.
  • Ben Davis – Marketing Director who will provide all marketing materials, campaigns, and PR initiatives for Portland Village Assisted Living.
  • John Anderson – Maintenance Director who will oversee all maintenance staff and projects at the facility.
  • Anna Rodriguez – Housekeeping Coordinator who will oversee all housekeeping staff for the facility.

Milestones:

Portland Village Assisted Living will have the following milestones complete in the next six months.

8/1/2022 – Finalize contract for purchase of the facility.

8/15/2022 – Finalize personnel and staff employment contracts for the management team.

9/1/2022 – Begin refurbishment and furnishing of the facility.

9/15/2022 – Begin networking at industry events.

9/22/2022 – Begin marketing campaign to attract the first residents.

11/1/2022 – Portland Village Assisted Living opens for business.

Financial Plan

Key revenue & costs.

The revenue drivers for Portland Village Assisted Living are the assisted living fees they will charge to the residents for staying at their facility. Residents pay monthly fees for their stay and have the option of month-to-month or annual leases.

The cost drivers will be the overhead costs required in order to staff an assisted living facility. The expenses will be the payroll cost, utilities, supplies, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of Occupied Units: 15
  • Average Fees per Month: $60,000
  • Payments on Facility Purchase per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, assisted living business plan faqs, what is an assisted living facility business plan.

An assisted living facility plan is a plan to start and/or grow your assisted living facility. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your assisted living facility business plan using our Assisted Living Facility Business Plan Template here .

What are the Main Types of Assisted Living Facilities?

There are a number of different kinds of assisted living facilities, some examples include: Residential Living, Memory Care, and Rehabilitation Facility.

How Do You Get Funding for Your Assisted Living Facility Business Plan?

Assisted Living Facilities are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.  Potential investors will need your assisted living business plan PDF or in Word format.

A well crafted assisted living business plan is essential to securing funding from any type of potential investor.

What are the Steps To Start an Assisted Living Facility Business?

Starting an assisted living facility business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Write An Assisted Living Facility Business Plan - The first step in starting a business is to create a detailed assisted living business plan that outlines all aspects of the venture. This should include market research on the assisted living industry and potential target market size, information on the services you will offer, marketing strategies, pricing details and a solid financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your assisted living facility business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your assisted living facility business is in compliance with local laws.

3. Register Your Assisted Living Facility Business - Once you have chosen a legal structure, the next step is to register your assisted living facility business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your assisted living facility business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Assisted Living Facility Equipment & Supplies - In order to start your assisted living facility business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your assisted living facility business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful assisted living facility business and how to write a residential assisted living business plan:

  • How to Start an Assisted Living Facility Business

ProfitableVenture

Residential Assisted Living Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Healthcare and Medical » Assisted Living Facility

Assisted Living Facility Business

A residential assisted living business is a type of senior care facility that provides housing and support services for seniors who need assistance with their daily living activities.

Residential assisted living is typically smaller-scale homes, with fewer residents than a nursing home or assisted living facility.

In addition to providing basic care services, residential assisted living facilities may also offer social and recreational activities, transportation services, and other amenities to help seniors maintain their independence and quality of life.

In many cases, residential assisted living facilities are operated by private individuals or companies, rather than by larger healthcare organizations.

As a result, residential assisted living may offer a more flexible and personalized approach to senior care than other types of facilities.

Steps on How to Write a Residential Assisted Living Business Plan

Executive summary.

St. Lucas® Assisted Living Facility, LLC is a new Residential Assisted Living business that will be located in Oregon, Florida.

Our facility will offer personalized and high-quality care services to seniors who require assistance with daily living, such as bathing, dressing, medication management, and meal preparation.

We will provide a home-like environment that fosters independence, dignity, and socialization, and we will strive to maintain a high quality of life for our residents.

Our management team has extensive experience in the senior care industry, and we have carefully selected and trained our staff to provide the highest quality of care services.

We have also established relationships with healthcare providers and local organizations to ensure that our residents have access to the healthcare services and amenities they need.

St. Lucas® Assisted Living Facility, LLC is well-positioned to become a leading provider of high-quality and personalized senior care services in the Oregon, Florida area.

We are committed to maintaining the highest standards of care, and we look forward to serving our community’s seniors and their families.

Company Profile

A. our products and services.

St. Lucas® Assisted Living Facility, LLC will offer the following services;

  • Personalized Care Plans
  • Health and Wellness Services
  • Social and Recreational Activities
  • Nutritious Meals and Snacks
  • 24-Hour Staff Support
  • Transportation Services
  • Housekeeping and Maintenance Services.

b. Nature of the Business

Our residential assisted living business will operate with a business-to-consumer.

c. The Industry

St. Lucas® Assisted Living Facility, LLC will operate in the assisted living industry.

d. Mission Statement

Our mission at St. Lucas® Assisted Living Facility, LLC is to provide high-quality and personalized care services to seniors in a home-like environment that fosters independence, dignity, and socialization.

e. Vision Statement

At St. Lucas® Assisted Living Facility, LLC, our vision is to be the leading provider of personalized and homelike senior care services in our community.

f. Our Tagline (Slogan)

St. Lucas® Assisted Living Facility, LLC – Home Away from Home for the Elderly!

g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)

St. Lucas® Assisted Living Facility, LLC will be formed as a Limited Liability Company (LLC). The reason why we are forming an LLC is to protect our personal assets by limiting the liability to the resources of the business itself.

h. Our Organizational Structure

  • Head of Residential Assisted Living (President)
  • Assisted Living Administrator
  • Medication Management Counselors
  • Nurse’s Aides
  • Home Health Caregivers / Home Caregivers / County Aging Workers Fundraiser
  • Account Officer
  • Front Desk Officer
  • Security Guards

i. Ownership/Shareholder Structure and Board Members

  • Paul Peterson (Owner and Chairman / Chief Executive Officer) 52 Percent Shares
  • Henry Johnson (Board Member) 18 Percent Shares
  • Emmanuel Linus (Board Member) 10 Percent Shares
  • Jael Martins (Board Member) 10 Percent Shares
  • James Cornelius (Board Member and Secretary) 10 Percent Shares.

SWOT Analysis

A. strength.

  • Experienced management team with expertise in the senior care industry
  • High staff-to-resident ratio, allowing for personalized care
  • Focus on maintaining a strong sense of community and socialization for residents
  • Convenient location in a growing senior population area
  • Strong relationships with healthcare providers and local organizations
  • Specialized training for staff to provide the highest quality of care services.

b. Weakness

  • Limited capacity due to physical space limitations
  • Dependence on a small team of staff members, making us vulnerable to staff turnover and potential loss of expertise
  • High start-up costs for the facility set-up, equipment, and staffing.

c. Opportunities

  • Growing demand for personalized and homelike senior care services
  • Potential for partnerships with local hospitals and healthcare providers
  • Expansion into related senior care services such as hospice care or memory care.

i. How Big is the Industry?

The Residential Assisted Living industry was worth over $19.3 billion in revenue in 2021, and it is expected to continue to grow at an annual rate of 5.2% through 2026.

ii. Is the Industry Growing or Declining?

The residential assisted living industry has been growing steadily in recent years, as the population of seniors in need of long-term care continues to increase. According to a report by IBISWorld, the residential assisted living industry generated $19.3 billion in revenue in 2021, and it is expected to continue to grow at an annual rate of 5.2% through 2026.

The COVID-19 pandemic has also contributed to increased demand for residential assisted living services, as many seniors and their families have sought out safer and more personalized care options. The pandemic has also highlighted the need for improved infection control measures and staffing levels in residential assisted living facilities.

iii. What are the Future Trends in the Industry

Technology is becoming more prevalent in residential assisted living facilities, and this trend is expected to continue. This includes the use of smart home technology, telehealth services, and electronic health records.

Residential assisted living facilities are moving towards more personalized care plans that take into account each resident’s unique needs and preferences. This includes offering individualized meal plans, medication management, and other services tailored to each resident’s needs.

Residential assisted living facilities are increasingly focused on sustainability and reducing their environmental footprint. This includes incorporating energy-efficient appliances, recycling programs, and other green initiatives.

iv. Are There Existing Niches in the Industry?

No, there are no existing niches when it comes to the residential assisted living business.

v. Can You Sell a Franchise of your Business in the Future?

St. Lucas® Assisted Living Facility, LLC has plans to sell franchises in the nearest future and we will target major cities with thriving factoring services markets in the United States of America and Canada.

  • Competition from other assisted living facilities and senior care providers in the area
  • Regulatory and compliance changes that may impact operations and increase costs
  • Economic downturns or changes in healthcare policies may affect funding for senior care services.

i. Who are the Major Competitors?

  • Other residential assisted living facilities that offer similar services and amenities in the same geographic area
  • Skilled nursing facilities
  • Home healthcare providers
  • Continuing care retirement communities (CCRCs)
  • Memory care facilities
  • Adult daycare centers
  • In-home caregivers.

ii. Is There a Franchise for Residential Assisted Living Business?

No, there is no franchise opportunity for a residential assisted living business.

iii. Are There Policies, Regulations, or Zoning Laws Affecting Residential Assisted Living Business?

Yes, there are policies, regulations, and zoning laws affecting residential assisted living businesses in the United States of America. These regulations vary by state and local jurisdiction, but here are some examples of the types of regulations that may apply to residential assisted living facilities:

  • Most states require residential assisted living facilities to be licensed , which involves meeting specific standards for staff training, resident care, safety, and sanitation.
  • Local zoning laws may restrict the location of residential assisted living facilities, including the type of residential area where they can be located and the number of residents they can accommodate.
  • Residential assisted living facilities must comply with building codes that ensure safety and accessibility for residents, including requirements for fire safety, emergency exits, and accessibility features.
  • Residential assisted living facilities must comply with state and federal health and safety regulations, including infection control procedures, medication management, and emergency preparedness plans.
  • Residential assisted living facilities must meet staffing requirements for the number and qualifications of staff members, including requirements for licensed nurses and certified nursing assistants.
  • Residential assisted living facilities must protect the rights of residents, including the right to privacy, dignity, and autonomy.
  • Residential assisted living facilities must carry liability insurance and meet other insurance requirements.

Marketing Plan

A. who is your target audience, i. age range.

Our target market comprises adults above 65 years old.

ii. Level of Educational

We don’t have any restrictions on the level of education of our clients.

iii. Income Level

There is no cap on the income level of those we will welcome to our facility.

iv. Ethnicity

There is no restriction when it comes to the ethnicity of the people we will welcome to our facility.

v. Language

There is no restriction when it comes to the language spoken by the people we will welcome to our facility.

vi. Geographical Location

Anybody from any geographical location will be welcome to our facility.

vii. Lifestyle

St. Lucas® Assisted Living Facility, LLC will not restrict any client from accessing our facility because of their lifestyle, culture, or race.

b. Advertising and Promotion Strategies

  • Content marketing
  • Deliberately Brand Our Facility
  • Email marketing
  • Events and sponsorships
  • Pay-per-click (PPC) advertising
  • Referral marketing
  • Search engine optimization (SEO).

i. Traditional Marketing Strategies

  • Broadcast Marketing -Television & Radio Channels.
  • Marketing through Direct Mail.
  • Print Media Marketing – Newspapers & Magazines.
  • Out-of-home (OOH) advertising – Public transit like Buses and Trains, Billboards, Street shows, and Cabs.
  • Leverage direct sales, direct mail (postcards, brochures, letters, fliers), tradeshows, print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.

ii. Digital Marketing Strategies

  • Affiliate Marketing
  • Content Marketing.
  • Email Marketing.
  • Influencer Marketing.
  • Mobile Marketing.
  • Social Media Marketing Platforms.
  • Search Engine Optimization (SEO) Marketing.

iii. Social Media Marketing Plan

  • Create a personalized experience for our customers.
  • Create an efficient content marketing strategy.
  • Create a community for our target market and potential target market.
  • Create profiles on relevant social media channels.
  • Gear up our profiles with a diverse content strategy.
  • Start using chatbots.
  • Run cross-channel campaigns.
  • Use brand advocates.

c. Pricing Strategy

St. Lucas® Assisted Living Facility, LLC’s pricing strategy should take into account factors such as the cost of the value of service offering, and the level of competition in the market. We will also analyze the competition’s pricing and services to ensure the business remains competitive while maintaining profitability. Here is our pricing strategy:

  • Tiered Pricing
  • All-Inclusive Pricing
  • Ala Carte Pricing
  • Move-In Specials
  • Long-Term Contracts
  • Medicaid and Medicare Programs
  • Private Pay.

Sales and Distribution Plan

A. sales channels.

Our sales channels will include both direct and indirect channels and they are:

  • Direct sales: This involves the residential assisted living business’s sales team directly reaching out to potential clients, such as small and medium-sized healthcare-related businesses, through email, phone, or in-person meetings.
  • Referral sales: This involves leveraging existing clients, business partners, and other industry contacts to refer potential clients to the residential assisted living business .
  • Online sales: This involves using digital channels such as the company’s website, social media, and online advertising to generate leads and attract potential clients.
  • Broker or agent channels: This involves working with brokers or agents who act as intermediaries between the residential assisted living business and potential clients, referring clients to the company in exchange for a commission.
  • Partner channels: This involves working with strategic partners, such as doctors, hospitals, and other healthcare service providers, to offer factoring services to their clients.
  • Industry-specific sales channels: This involves targeting specific industries that may have a higher demand for residential assisted living services
  • Trade shows and events: This involves participating in industry trade shows and events to generate leads and build relationships with potential clients.

b. Inventory Strategy

Our inventory strategy will involve managing and tracking the availability of essential supplies such as food, medication, medical equipment, and cleaning products. The strategy will also involve setting levels for inventory, monitoring usage, and ordering supplies in advance to ensure that there are no shortages.

We will also implement software systems to automate inventory management and improve efficiency. Having effective inventory management will help ensure that residents receive high-quality care while reducing waste and minimizing costs for the business.

c. Payment Options for Customers

Here are the payment options that St. Lucas® Assisted Living Facility, LLC will make available to her clients;

  • Apple Pay and Google Wallet
  • Gift cards and store credit
  • Credit and debit cards
  • Installment payments
  • Cash on service delivery.

d. Return Policy, Incentives, and Guarantees

As a residential assisted living services provider, we may not offer a traditional return policy, incentives, or guarantees.

e. Customer Support Strategy

Providing exceptional customer support is crucial for the success of our residential assisted living business. Here are some customer support strategies that we will adopt:

  • Provide multiple communication channels for residents and their families
  • Offer personalized attention
  • Set clear expectations.
  • Maintain transparency.
  • Offer value-added services.

By implementing these strategies, our residential assisted living business can provide excellent customer support and build long-term relationships with all our clients (residents).

Operational Plan

The operational plan for our residential assisted living business is a detailed document that outlines the day-to-day operations of the business, including staff responsibilities, resident care plans, facility maintenance, and financial management.

The plan typically includes specific goals and objectives, as well as strategies for achieving those goals. It will also address risk management, emergency preparedness, and compliance with regulations and policies.

a. What Happens During a Typical Day at a Residential Assisted Living Business?

A typical day at a residential assisted living business involves providing care and support for residents with a variety of needs.

The day may begin with breakfast and medication administration, followed by activities such as exercise classes, social events, and games. Staff members provide assistance with activities of daily living (ADLs) as needed, such as bathing, dressing, and grooming.

Medical care may include regular check-ins with healthcare providers, medication management, and assistance with medical equipment. Meals are typically provided throughout the day, with snacks and beverages available as needed. Residential assisted living businesses may also offer specialized therapies or services, such as physical therapy or salon services.

Staff members are available around the clock to provide care and support for residents, and emergency procedures are in place to ensure the safety and well-being of all residents.

b. Production Process

There is no production process when it comes to residential assisted living businesses.

c. Service Procedure

Not applicable.

d. The Supply Chain

A supply chain is not applicable to a residential assisted living business.

e. Sources of Income

At St. Lucas® Assisted Living Facility, LLC we will make money from resident fees, government programs such as Medicaid or Veterans Affairs, and private pay options such as long-term care insurance or personal funds.

Financial Plan

A. amount needed to start your residential assisted living business.

St. Lucas® Assisted Living Facility, LLC would need an estimate of $350,000 to successfully set up our residential assisted living business in the United States of America. Please note that this amount includes the salaries of all our staff for the first month of operation.

b. What are the Costs Involved?

  • Business Registration Fees – $750.
  • Legal expenses for obtaining licenses and permits – $1,300.
  • Marketing, Branding, and Promotions – $1,000.
  • Business Consultant Fee – $2,500.
  • Insurance – $5,400.
  • Rent/Lease – $150,000.
  • Other start-up expenses include commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
  • Operational Cost (salaries of employees, payments of bills et al) – $30,000
  • Start-up Inventory – $25,000
  • Store Equipment (cash register, security, ventilation, signage) – $4,750
  • Furnishing and Equipping – $35,000
  • Website: $600
  • Opening party: $4,000
  • Miscellaneous: $5,000

c. Do You Need to Build a Facility? If YES, How Much will it cost?

St. Lucas® Assisted Living Facility, LLC will not build a new facility for our residential assisted living business; we intend to start with a long-term lease and after 5 years, we will start the process of acquiring our own facility.

d. What are the Ongoing Expenses for Running a Residential Assisted Living Business?

  • Staffing costs (salaries, benefits, and training for caregivers, nurses, and administrative staff)
  • Facility expenses (rent, utilities, property taxes, maintenance, and insurance)
  • Food and supplies (groceries, medications, medical supplies, personal care items, and cleaning supplies)
  • Marketing and advertising
  • Administrative expenses (office supplies, legal fees, accounting services, and software or technology systems)
  • Resident care expenses (medical equipment, therapy services, and other specialized care needs)
  • Compliance expenses.

e. What is the Average Salary of your Staff?

  • Head of Residential Assisted Living (President) – $45,000 Per Annum
  • Assisted Living Administrator – $36,034 Per Annum
  • Medication Management Counselors – $35,600 Per Annum
  • Nurse’s Aides – $30,660 Per Annum
  • Home Health Caregivers/Home Caregivers/County Aging Workers – $32,878 Per Annum
  • Account Officer – $35,000 Per Annum
  • Front Desk Officer – $28,000 Per Annum
  • Cleaners – $22,000 Per Annum
  • Security Guard – $22,000 Per Annum.

f. How Do You Get Funding to Start a Residential Assisted Living Business?

  • Raising money from personal savings and sale of personal stocks and properties
  • Raising money from investors and business partners
  • Sell shares to interested investors
  • Applying for a loan from your bank/banks
  • Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
  • Source for soft loans from your family members and friends.

Financial Projection

A. how much should you charge for your product/service.

St. Lucas® Assisted Living Facility, LLC will charge based on what is obtainable in the United States. Our average monthly cost for a one-bedroom unit is $4,000. Please note that we will offer various pricing options and also accept government programs or private pay options, such as long-term care insurance,.

b. Sales Forecast?

  • First Fiscal Year (FY1): $250,000
  • Second Fiscal Year (FY2): $450,000
  • Third Fiscal Year (FY3): $520,000

c. Estimated Profit You Will Make a Year?

  • First Fiscal Year (FY1) (Profit After Tax): $150,000
  • Second Fiscal Year (FY2) (Profit After Tax): $200,000
  • Third Fiscal Year (FY3) (Profit After Tax): $300,000

d. Profit Margin of a Residential Assisted Living Business Product/Service

The ideal profit margin we hope to make at St. Lucas® Assisted Living Facility, LLC will be between 10 and 20 percent on each job carried out irrespective of the distance covered.

Growth Plan

A. how do you intend to grow and expand by opening more retail outlets/offices or selling a franchise.

St. Lucas® Assisted Living Facility, LLC will grow our residential assisted living business by first opening other offices in key cities in the United States of America within the first five years of establishing the business and then start franchising in the nearest future.

b. Where do you intend to expand to and why?

St. Lucas® Assisted Living Facility, LLC plan to expand to;

  • Phoenix, Arizona
  • Dallas, Texas
  • Atlanta, Georgia
  • Denver, Colorado
  • Tampa, Florida
  • Nashville, Tennessee
  • Charlotte, North Carolina
  • Portland, Oregon
  • Minneapolis, Minnesota
  • San Diego, California.

The reason we intend to expand to this geographic location is the fact that available statistics show that the cities listed above have a growing elderly population and a high demand for senior care services, making them potentially attractive markets for residential assisted living businesses.

St. Lucas® Assisted Living Facility, LLC’s founder intends to exit the business through a merger and acquisition. We want to merge with a global residential assisted living company so that the company’s management can be placed in trusted hands when the founder retires.

The goal of combining two or more international residential assisted living businesses on a global scale is to achieve synergy, in which the whole (the new company) is greater than the sum of its parts (the former two separate entities), and with a well-structured management team and board of trustees.

Related Posts:

  • Who Regulates Assisted Living Facilities in California?
  • How to Do Due Diligence for Assisted Living Facility On Sale
  • Minimum Staffing Requirement for Assisted Living Facilities
  • 6 Best Types of Furniture for Assisted Living Facility
  • How to Run an Assisted Living Facility Successfully
  • How Much Does a CEO of Assisted Living Facility Earn?
  • 15 Best EHR Software for Assisted Living Facilities

How to write a business plan for an assisted-living facility?

assisted-living facility business plan

Creating a business plan for an assisted-living facility is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating an assisted-living facility business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for an assisted-living facility?

What information is needed to create a business plan for an assisted-living facility.

  • What goes in the financial forecast for an assisted-living facility?
  • What goes in the written part of an assisted-living facility business plan?
  • What tool can I use to write my assisted-living facility business plan?

Being clear on the scope and goals of the document will make it easier to understand its structure and content. So before diving into the actual content of the plan, let's have a quick look at the main reasons why you would want to write an assisted-living facility business plan in the first place.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your assisted-living facility is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your assisted-living facility, you'll have to:

  • Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
  • Determine the pace at which the business needs to progress to meet its objectives as scheduled,
  • Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

To get visibility on future cash flows

If your small assisted-living facility runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your assisted-living facility's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your assisted-living facility business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your assisted-living facility's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

Whether you are a startup or an existing business, writing a detailed assisted-living facility business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your assisted-living facility has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for an assisted-living facility, let's take a look at what information is needed to create one.

Writing an assisted-living facility business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for an assisted-living facility

Carrying out market research before writing a business plan for an assisted-living facility is essential to ensure that the financial projections are accurate and realistic.

Market research helps you gain insight into your target customer base, competitors, pricing strategies and other key factors which can have an impact on the commercial success of your business.

In particular, it is useful in forecasting revenue as it provides valuable data regarding potential customers’ spending habits and preferences.

Your market research might reveal that there may be an increasing demand for assisted-living facilities in your area. Additionally, it could indicate that senior citizens may be looking for amenities such as pet-friendly areas, recreational activities, and modern amenities in their living arrangements.

This information can then be used to create more accurate financial projections which will help investors make informed decisions about investing in your assisted-living facility.

Developing the sales and marketing plan for an assisted-living facility

Budgeting sales and marketing expenses is essential before creating an assisted-living facility business plan.

A comprehensive sales and marketing plan should provide an accurate projection of what actions need to be implemented to acquire and retain customers, how many people are needed to carry out these initiatives, and how much needs to be spent on promotions, advertising, and other aspects.

This helps ensure that the right amount of resources is allocated to these activities in order to hit the sales and growth objectives forecasted in your business plan.

The staffing and equipment needs of an assisted-living facility

As you embark on starting or expanding your assisted-living facility, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

Staffing costs for an assisted-living facility might include salaries for nurses, certified nursing assistants, medical staff, administrators, and housekeeping personnel. Equipment costs might include beds, wheelchairs, medical supplies, computer equipment, and other necessary items.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

What goes into your assisted-living facility's financial forecast?

The financial forecast of your assisted-living facility will enable you to assess the profitability potential of your business in the coming years and how much capital is required to fund the actions planned in the business plan.

The four key outputs of a financial forecast for a assisted-living facility are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's take a closer look at each of these.

The projected P&L statement

The projected P&L statement for an assisted-living facility shows how much revenue and profit your business is expected to make in the future.

example of projected profit and loss statement in a assisted-living facility business plan

A healthy assisted-living facility's P&L statement should show:

  • Sales growing at (minimum) or above (better) inflation
  • Stable (minimum) or expanding (better) profit margins
  • A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established assisted-living facility.

The projected balance sheet of your assisted-living facility

The balance sheet for an assisted-living facility is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

  • Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
  • Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
  • Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

example of projected balance sheet in a assisted-living facility business plan

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your assisted-living facility's liquidity and solvency:

  • Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
  • Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your assisted-living facility's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The cash flow forecast

As we've seen earlier in this guide, monitoring future cash flows is the key to success and the only way of ensuring that your assisted-living facility has enough cash to operate.

As you can expect showing future cash flows is the main role of the cash flow forecast in your assisted-living facility business plan.

example of projected cash flow forecast in a assisted-living facility business plan

It is best practice to organise the cash flow statement by nature in order to show the cash impact of the following areas:

  • Cash flow generated from operations: the operating cash flow shows how much cash is generated or consumed by the business's commercial activities
  • Cash flow from investing activities: the investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.) either to maintain the business's equipment or to expand its capabilities
  • Cash flow from financing activities: the financing cash flow shows how much cash is raised or distributed to financiers

Looking at the cash flow forecast helps you to make sure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

Your assisted-living facility business plan will normally include both yearly and monthly cash flow forecasts so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting an assisted-living facility.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

initial financing plan in a assisted-living facility business plan

Having this table helps understand what costs are involved in setting up the assisted-living facility, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of an assisted-living facility business plan is understood, let's focus on what goes into the written part of the plan.

The written part of an assisted-living facility business plan

The written part of an assisted-living facility business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

The first section of your assisted-living facility's business plan is the executive summary which provides, as its name suggests, an enticing summary of your plan which should hook the reader and make them want to know more about your business.

When writing the executive summary, it is important to provide an overview of the business, the market, the key financials, and what you are asking from the reader.

Start with a brief introduction of the business, its name, concept, location, how long it has been in operation, and what makes it unique. Mention any services or products you plan to offer and who you sell to.

Then you should follow with an overview of the addressable market for your assisted-living facility, current trends, and potential growth opportunities.

You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.

Finally, you should detail any funding requirements in the ask section.

2. The presentation of the company

The second section in your assisted-living facility's business plan should focus on the structure and ownership, location, and management team of the company.

The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.

The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).

When describing the location of your assisted-living facility, you may want to emphasize its access to transportation and amenities. It could be situated in a desirable, vibrant area that is attractive to prospective residents and their families. The area might also have a strong, educated workforce that could be an asset to the facility. Additionally, you could point out that the facility is located in a region with a growing population, which could create a larger customer base. Finally, the region could have a strong economic environment, with potential for growth and positive returns.

Finally, you should introduce the management team. Explain each member's role, background, and experience.

It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.

3. The products and services section

The products and services section of your assisted-living facility business plan should include a detailed description of what your company sells to its customers. 

For example, your assisted-living facility might offer meals prepared by experienced chefs, supervised activities to promote social engagement, and 24-hour on-site health care assistance. These services ensure that customers are able to maintain an optimal level of health, nutrition, and social engagement during their stay, allowing them to continue to live independent, fulfilling lives.

The reader will want to understand what makes your assisted-living facility unique from other businesses in this competitive market.

When drafting this section, you should be precise about the categories of products or services you sell, the clients you are targeting and the channels that you are targeting them through. 

4. The market analysis

When you present your market analysis in your assisted-living facility business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your assisted-living facility, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your assisted-living facility aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include seniors who are no longer able to maintain their own home and need assistance with daily activities. They might also include those who are unable to care for themselves due to physical or cognitive disabilities. Lastly, they might include seniors who want to live in a community setting and are looking for social activities and a safe environment.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your assisted-living facility.

5. The strategy section

When crafting the strategy section of your business plan for your assisted-living facility, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your assisted-living facility faces a variety of risks. For example, there may be a risk of employee theft of funds or equipment. Furthermore, there could be a risk of negligence in the care of residents, which could lead to harm or lawsuits. To protect against these risks, you should have clear policies in place and ensure that all employees are properly trained and monitored.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your assisted-living facility.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your assisted-living facility's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You may have key assets such as physical property, like buildings, and intellectual property like brands and trademarks. Physical property could include the actual buildings that house the assisted-living facility, as well as the furniture, equipment, and supplies needed to run it. Intellectual property could include any logos, designs, or slogans associated with the facility. It might also include any unique approaches to care, services, or operations that the organization has developed.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of an assisted-living facility business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my assisted-living facility's business plan?

In this section, we will be reviewing the two main options for writing an assisted-living facility business plan efficiently:

  • Using specialized software,
  • Outsourcing the drafting to the business plan writer.

Using an online business plan software for your assisted-living facility's business plan

The modern and most efficient way to write an assisted-living facility business plan is to use business plan software .

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your assisted-living facility's business plan

Outsourcing your assisted-living facility business plan to a business plan writer can also be a viable option.

These writers possess valuable experience in crafting business plans and creating accurate financial forecasts. Additionally, enlisting their services can save you precious time, enabling you to concentrate on the day-to-day operations of your business.

It's important to be mindful, though, that hiring business plan writers comes with a cost. You'll be paying not just for their time but also for the software they use, and their profit margin.

Based on experience, a complete business plan usually requires a budget of at least £1.5k ($2.0k) excluding tax, and more if revisions are needed after initial meetings with lenders or investors - changes often arise following these discussions.

When seeking investment, be cautious about spending too much on consulting fees. Investors prefer their funds to contribute directly to business growth. Thus, the amount you spend on business plan writing services and other consulting services should be negligible compared to the amount you raise.

Another aspect to consider is that while you'll receive the output of the business plan, you usually won't own the actual document. It will be saved in the consultant's business plan software, which will make updating the plan challenging without retaining the consultant on a retainer.

Given these factors, it's essential to carefully weigh the pros and cons of outsourcing your assisted-living facility business plan to a business plan writer and decide what best suits your business's unique needs.

Why not create your assisted-living facility's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write an assisted-living facility business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my assisted-living facility business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

  • Word processors don't include instructions and examples for each part of your business plan
  • Word processors don't update your numbers automatically when they change in your forecast
  • Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating an assisted-living facility business plan for some entrepreneurs, it is by far not the best or most efficient solution.

  • Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
  • A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
  • A business plan has 2 main parts: a financial forecast outlining the funding requirements of your assisted-living facility and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your assisted-living facility business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

  • How to write a business plan to secure a bank loan?
  • Key steps to write a business plan?
  • Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing an assisted-living facility? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

Create a convincing business plan

Assess the profitability of your business idea and create a persuasive business plan to pitch to investors

The Business Plan Shop | Business Plan Software

500,000+ entrepreneurs have already tried our solution - why not join them?

Not ready to try our on-line tool ? Learn more about our solution here

Need some inspiration for your business plan?

Subscribe to The Business Plan Shop and gain access to our business plan template library.

business plan template library

Need a professional business plan? Discover our solution

Write your business plan with ease!

Business Plan Software

It's easy to create a professional business plan with The Business Plan Shop

Want to find out more before you try? Learn more about our solution here

ZenBusinessPlans

Home » Sample Business Plans » Healthcare

Assisted Living Facility Business Plan [Sample Template]

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.

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

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.
  • 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.
  • 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;

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.

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.

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 United 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;

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 retraining 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.

More on Healthcare

Booking Ninjas Logo

Improve Your Property's Management, Operation & Revenue With Booking Ninjas Property Management System

sample residential assisted living business plan

Residential Assisted Living Business Plan: Step By Step Guide

What is an assisted living business plan, why you need a business plan for your assisted living business, components of an assisted living business plan.

Free Assisted Living Business Plan Template

Adding PMS To Your Assisted Living Business Plan

Key takeaways.

A residential assisted living business plan overviews your facility as it currently is and outlines your growth strategy for the next few years. It describes your company's aims and objectives for achieving them. Market analysis/research is also included to back up your goals.

A business plan is required if you want to open a new assisted living facility or expand an existing one. A business plan can enable you to raise funds and plan the expansion of your assisted care facility in order to maximize your chances for smooth sailing, and enjoy the benefits of success.

Additionally, your assisted living business plan should be revised on a yearly basis as your business develops and evolves.

Organization and Clarity

Clarity of vision or organization signifies that you comprehend exactly what you're doing and where you're headed. When considering clarity, it is critical to consider the following four factors:

  • What exactly is your business?
  • Who are you as an individual?
  • What you're up to concerning the business?
  • Where are you going with the business?

The clarity communicates that you recognize where you're about to start, where you'll equalize, when you'll become profitable, what your backup is, and all the specifics that complement these.

And they are necessary for establishing a business plan that will convert to financial support and acquiring funds to start your assisted living business, which brings us to the next key component of a business plan.

Data Gathering

Data is power in today's corporate world. Your target audience and customer data is critical to how businesses connect with their prospects.

The data collecting methods you employ are vital to personalizing your marketing automation, delivering essential information to sales teams, and actually providing a better experience to your clients.

Customer data collection should be a key concern for every organization. However, just acquiring data is not always beneficial. The data collection procedures you employ are also crucial.

To be usable, that data must have the proper structure and context; else, it is just a spontaneous set of facts with no meaningful guidance for how it may be utilized in a commercial setting.

Data in the right context will assist you in making actual, data-backed decisions that will propel your business ahead.

Raising Capital

A business plan demonstrates that you have a real direction, which is what investors are looking for.

A well-thought-out business strategy demonstrates to investors that you possess a strong understanding and enables you to express that idea so that people will basically invest in you.

Here are a few things to keep in mind.

With no proper business plan:

  • No bank will lend you money, and no private investor or lender will lend you money.
  • People will not take you or your company seriously.
  • Investors will be puzzled as to what you're already doing and where you wish to take it.
  • Investors will assume you have fuzzy notions about what you're working on and where you wish to take it.

To be clear, regardless of industry, a business plan is an important phase in the beginning stages of any business. A business plan helps you to create a well-thought-out strategy that specifies where you wish to take it.

A business plan also enables you to advance. It distinguishes you from others who are only looking to start a business to people who are genuine about owning and operating a successful company.

Company Executive Summary

Your executive summary introduces your business plan, which is usually the final component you create because it summarizes each vital feature of your strategy.

The purpose of your Executive Summary is to pique the reader's interest instantly. It explains your facility's nature and state. It answers questions like: is it a new company, do you have an already existing assisted living facility that you want to expand, or do you run a network of assisted living facilities?

Following that, offer an outline of each of your plan's subsequent components. For instance, give a quick summary of the assisted living facility business. Talk about the sort of assisted living home you run.

Provide information about your immediate rivals. Provide an outline of your target audience. Give an overview of your marketing strategy. Determine who the essential members of your team are. Also, provide a summary of your budget statement and general financial plan.

You should describe the sort of assisted living home you run in your company analysis. For example, you could operate any of the following categories of assisted care facilities:

Residential Living

This sort of facility is designed for seniors who require limited assistance and can maintain their daily activities without the need for intensive healthcare monitoring.

Memory Care

This sort of assisted living facility focuses on supporting elders who have Alzheimer's disease or dementia.

Rehabilitation

This residential assisted living center serves elders who require speech, physical, or occupational treatment or therapy.

Industry Analysis

In this section, you must offer a summary of the assisted living home. This may appear to be redundant, but it serves several purposes.

First and foremost, studying the assisted care facility market will educate you. It aids your understanding of the business and the market in which you operate.

Besides, market research may also help you enhance your approach, especially if you identify market trends.

Another benefit of conducting market research is to demonstrate to readers that you are an authority in your field. You accomplish this by performing the study and incorporating it into your strategy.

Questions to consider:

  • What is the size of the assisted living facility business?
  • Is the market falling or rising?
  • Who are the industry's leading competitors?
  • Who are the industry's leading suppliers?
  • What are the current industry trends?

Customer Analysis

The customer analysis part of your assisted care business plan must include information about the clients you currently represent and/or anticipate representing.

The segments include families of seniors who require little to no support, families of seniors who require help with everyday living, and families of seniors who require memory care.

As you would expect, the client segment(s) you select will have a significant influence on the sort of assisted living home you run.

Relatives of seniors in need of minimum care, for example, would clearly seek different services and therefore would respond to various marketing efforts than relatives of seniors in need of memory care.

Try to categorize your target market based on their demographic and psychographic characteristics.

In terms of demographics, provide information on the location, genders, ages, and income levels of the clients you want to serve. Because most assisted living facilities serve people who live in the same town or city, such demographic data is readily available on government websites.

Psychographic analyses describe your target clients' interests and demands. The better you understand and identify these demands, the better you will be able to attract and keep clients.

Competitive Analysis

Your competitive analysis must identify and prioritize your company's direct and indirect competition. Other assisted living institutions are your direct competition.

Indirect rivals are alternatives to direct rivals that seniors might consider. This comprises communities, senior care services, and adult daycare facilities. You must highlight such competition to demonstrate that you recognize that not every senior who needs help will join an assisted living facility.

In terms of direct competition, you should list all of the other assisted care facilities with whom you compete. It is very likely that your immediate competition will be residential assisted care facilities established relatively near your site.

Include a summary of the businesses and a list of their weaknesses and strengths for each competitor. It is hard to know all about your competition unless you have already worked for them. However, you should still be able to learn important information about them, such as:

The last element of your competitive analysis should identify your areas of competitive edge:

  • Will you give excellent service?
  • Will you offer services that your rivals do not?
  • Will you make it more convenient or quicker for individuals to use your facility?
  • Will you provide additional social and physical activities?
  • Will you lower your prices?

Consider how you will surpass your competitors and include them in this segment of your plan.

Marketing Plan

A marketing strategy has typically included the four P's: price, promotion, place, and product. Your marketing plan for an assisted living business should contain the following:

Outline the prices you want to charge and also how they compare to those of your rivals. Basically, the product and pricing sub-sections of your marketing strategy describe the services you provide as well as their rates.

The location of your assisted care facility is very important. Specify your location and explain how it will influence your progress (revenue generation…). Is your assisted living home, for example, in a neighborhood or close to a hospital? Explain how your location could be advantageous for acquiring customers.

The promotion part is the final component of your assisted care home marketing strategy. You will explain how you will drive customers to your site in this section (s). You could explore the following promotional strategies:

  • Local newspaper and magazine advertisements
  • Contacting local websites
  • Inclusion of the company in relevant web directories
  • Handbills and flyers
  • Marketing campaigns on social media
  • Advertisement on local radio

You should restate the kind of assisted care home that you noted in your company analysis in this section. Then in detail, describe the precise services you want to offer.

Will you organize physical fitness programs and provide exercise equipment, Have you considered providing pet accommodation, on-site events and activities, or transport services in addition to the regular services provided by an assisted living facility?

Operation plan

While the previous part of your business strategy described your objectives, your operations plan discusses how you will achieve them. Your operation's strategy should be split into two parts as shown below.

Daily Short-term Structure

Daily short-term procedures encompass all aspects of running an assisted living home, such as housekeeping, healthcare and support, food services, and so on.

Long-term goals

Long-term objectives are milestones that you aim to reach. These may include the dates when you hope to accomplish 100 percent occupancy or $X in income. It may also include when you anticipate opening a new branch of our assisted living facility.

Since business plans are typically strategies for the next 5 years of your business, your financial statement should be broken out monthly or quarterly for the first year and then annually for the following 4 years in your financial plan.

Your income statement, balance sheet, and cash flow statements are all part of your financial statements.

Income Statements

An income statement is often known as a profit and loss statement (or P&L). It displays your earnings and then deducts your expenditures to determine whether or not you made a profit.

You will make assumptions while creating your income statement. For example, will you have 10 or 120 residents? Will sales increase by 2% or 10% each year?

As you might expect, the assumptions you make will have a significant influence on your company's financial predictions. Gather as much knowledge as possible to try to ground your assumptions in actuality.

Cashflow Statements

A cash flow statement can help you decide how much funds you need to start or develop your company, as well as ensure that you never run out of funds. What most startups and business managers don't comprehend is that you may make a profit while still running out of money and going bankrupt.

Balance Sheets

Your liability and assets are shown on your balance sheet. While balance sheets can contain a lot of information, try to keep them as simple as possible.

For example, spending a lot of money to build up an assisted living facility will not generate immediate revenue. However, it is an asset that should help you earn money for many years to come.

Similarly, if a bank sends you a $100,000 check, you do not have to repay it straight away. Instead, that is a debt (liability) that you will repay over time.

P.S: Include the following major costs in your balance sheets and income statement when beginning or expanding a residential assisted care business:

  • Location build-out, (construction and design expenses, and so on).
  • Equipment costs, including support devices, surveillance/security, and medical devices
  • Payroll (salary paid to employees)
  • Commercial insurance
  • Taxes and licenses
  • Expenses for legal counsel

Add your complete financial predictions to your plan's appendix, as well as any supporting materials that make your strategy more convincing. You may, for instance, submit your facility layout or site lease.

You've arrived at the appropriate places to develop your business plan for an assisted care home. The template below will help you write each component of your Assisted Living Facility Business Plan:

Be sure to throw in the need for property management software somewhere in your business plan. The sole purpose of writing a business plan is to outline and make clear your business strategies, which subsequently leads to smooth revenue generation.

Hence, effective assisted living business management practices like task automation should not be left out of your plan.

Choose a trusted and seamless assisted living property management system like Booking Ninjas, and you don’t have to stress about operational activities like bookkeeping, reporting, reservation systems, and so on.

Our Salesforce-powered cloud-based solution provides you with everything you've ever needed to fulfill the greatest residential assisted living services for your customers. Say goodbye to clogged integrations and confusing interfaces.

With the Booking Ninjas system, you get a complete system that is simple to use at first glance, minimum features that are tailored to your specific needs, and 100% 24/7 customer service from our very finest. It's the most straightforward offer you'll ever find.

Creating a business strategy for your assisted care home is an important step. If you follow the blueprint above, you will be a true expert by the end.

You will have a thorough understanding of the assisted care facility sector, as well as your competitors and clients. You will have created a marketing strategy and will fully comprehend what it takes to start and run a thriving assisted living business.

To learn more about Booking Ninjas and what we do, schedule a free call with us now!

Trending posts

WhatsApp Us

  • Business Plan for Investors
  • Bank/SBA Business Plan
  • Operational/Strategic Planning Services
  • L1 Visa Business Plan
  • E1 Treaty Trader Visa Business Plan
  • E2 Treaty Investor Visa Business Plan
  • EB-1 Business Plan
  • EB-2 NIW Business Plan
  • EB-5 Business Plan
  • Innovator Founder Visa Business Plan
  • Start-Up Visa Business Plan
  • Expansion Worker Visa Business Plan
  • Manitoba MPNP Visa Business Plan
  • Nova Scotia NSNP Visa Business Plan
  • British Columbia BC PNP Visa Business Plan
  • Self-Employed Visa Business Plan
  • OINP Entrepreneur Stream Business Plan
  • LMIA Owner Operator Business Plan
  • ICT Work Permit Business Plan
  • LMIA Mobility Program – C11 Entrepreneur Business Plan
  • USMCA (ex-NAFTA) Business Plan
  • Franchise Business Plan
  • Landlord business plan
  • Nonprofit Start-Up Business Plan
  • USDA Business Plan
  • Cannabis business plan
  • Ecommerce business plan
  • Online boutique business plan
  • Mobile application business plan
  • Daycare business plan
  • Restaurant business plan
  • Food delivery business plan
  • Real estate business plan
  • Business Continuity Plan
  • Buy Side Due Diligence Services
  • ICO whitepaper
  • ICO consulting services
  • Confidential Information Memorandum
  • Private Placement Memorandum
  • Feasibility study
  • Fractional CFO
  • How it works
  • Business Plan Examples

How To Write An Assisted Living Facility Business Plan

AUG.03, 2023

Assisted Living Facility Business Plan

1. Residential Assisted Living Business Plan Sample

Assisted living provide­s crucial support to elderly and disadvantaged individuals, e­nabling them to maintain their indepe­ndence with the ne­cessary assistance. This business plan pre­sents a strategy for establishing a thriving re­sidential assisted living facility.

The busine­ss will receive the­ necessary resource­s to start, establish the infrastructure, and cre­ate a detailed marke­ting plan. Like the construction feasibility study , this plan will describe the business’s services, target market, competitive environment, pricing and service delivery, strategies, resources, and financial projections.

2. Executive Summary

Business overview.

Reside­ntial Assisted Living (RAL) offers a valuable solution for familie­s or individuals seeking a nurturing and secure­ environment for their se­nior loved ones. It provides a safe­ and caring space for those who may no longer be­ able or choose not to, continue living in the­ir own homes. The real estate feasibility study RAL business will focus on providing both assisted living facilities as well as home care services in the Washington D.C. metropolitan area.

The business plan to start an assisted living facility services include:

  • Personalized care from certified professionals and caregivers
  • Engaging in activities and social events
  • Nutritious meals
  • 24/7 security
  • Transportation services
  • Assistance with daily activities
  • Medication management
  • Medical monitoring

Customer Focus

Management team.

The management team of 50 bed residential assisted living facility is made up of well-experienced professionals in the healthcare field. Each team member has the proper certification and training to ensure that RAL provides the highest quality of care in the Washington D.C. metropolitan area.

The management team of a small assisted living facility consists of four individuals. The first is a chief executive officer who will be responsible for developing long-term and short-term goals for RAL. The second is a certified professional nurse who will hire and direct certified personnel for all residential facilities overseen by RAL. The third is a marketing/communications director overseeing all RAL’s marketing and promotional activities. At last, a financial director will take responsibility for handling all the financial aspects of a business.

Success Factors

The success factors of the homeless shelter business plan will improve the chance of success for RAL include the following:

  • Building strong relationships with families and customers
  • Establishing a stellar reputation in the community
  • Providing excellent customer experience
  • Maintaining the highest quality standards for services provided
  • Dedicated and well-trained staff
  • Strict financial management of expenses and revenue
  • Establishing a marketing plan to reach the target market
  • Using the latest technology to increase efficiency
  • Developing a good website that can also be used for bookings and reservations.

Financial Highlights

According to RAL’s projection, the­ first-year revenue­ is estimated to reach $2.8 million, with an e­xpected net profit of $700,000. To achie­ve this, RAL plans on securing financing through both debt and e­quity sources while also building relationships with pote­ntial investors and lenders.

  • Start-up Costs: $200,000
  • Break-Even Point: Month 6
  • Profit & Loss Projections: Year 1: $2.8 million revenue, $700,000 net profit.

Ultimately, RAL plans to bring positive financial results in the next five years.

3. Company Overview

Who is ral assisted living facility.

The RAL Assiste­d Living Facility is a residential facility that offers pe­rsonalized services and a cozy, home­-like environment for individuals who re­quire assistance with day-to-day activities. It is locally owne­d and operated, ensuring a pe­rsonal touch in the care provided. Founded in 2021, the team at RAL Assisted Living Facility is dedicated to providing quality care with dignity and respect.

At its core, RAL Assisted Living Facility is about family. The community and living e­nvironment have bee­n carefully cultivated to foster compassion and re­spect. The utmost priority is ensuring that e­very resident fe­els valued, safe, and e­mbraced in this inviting and cozy atmosphere. A dive­rse range of service­s and activities are available, all tailore­d to cater to each individual reside­nt’s unique needs.

The staff at RAL Assisted Living Facility is carefully selected, trained, and certified to provide the highest standards of care. We prioritize­ providing exceptional care to our re­sidents, ensuring they e­xperience a life­ of dignity and comfort. At RAL Assisted Living Facility, our mission is to deliver high-quality care­ and services that mee­t the unique nee­ds of each resident. We­ strive to support their indepe­ndence and autonomy while offe­ring them the assistance the­y require.

sample residential assisted living business plan

RAL Assisted Living Facility History

RAL Assisted Living Facility is a locally owned and operated business that was founded in 2021. Situated in Florida, this facility supports individuals in the­ community who need extra assistance­ with their daily activities to maintain their inde­pendence.

The founde­rs of RAL Assisted Living Facility came togethe­r with a shared passion for assisting others. Drawing on their e­xtensive background in healthcare­ and caregiving, they have cre­ated a warm and welcoming environme­nt staffed by a team of expe­rienced and well-traine­d professionals.

The founde­rs of RAL Assisted Living Facility have dedicate­d themselves to cre­ating a secure and cozy environme­nt for their residents. The­ir commitment to meticulousness and tire­less efforts have re­sulted in the facility becoming a re­nowned leader in assiste­d living, offering exceptional care­ and services to its reside­nts.

4. Industry Analysis

The re­sidential assisted living industry is expe­riencing rapid growth in the healthcare­ sector. Over the past fifte­en years, the home­ inventory business plan industry has expande­d due to several factors. The­se include the aging baby boome­r population, a rise in senior care options, and e­volving economic opportunities.

The residential assisted living market for the elderly population has become a significant one due to the increasing aging population throughout the world. Grand View Re­search predicts that the U.S. assiste­d living facility market will experie­nce a steady growth rate of 5.53% annually from 2023 to 2030, e­ventually reaching a value of USD 140.8 billion by 2030.

Source: https://www.grandviewresearch.com/industry-analysis/us-assisted-living-facility-market

The re­sidential assisted living industry is expe­riencing significant growth due to the incre­asing demand for healthcare se­rvices among senior citizens and pe­ople’s willingness to invest in the­se services. The­ market includes both local players and global giants like­ Brookdale Senior Living. Innovation and product improveme­nt remain continuous priorities, with advanceme­nts in technology and amenities aime­d at attracting more customers.

5. Customer Analysis

Demographic profile of target market.

When cre­ating a business plan for an assisted living facility, it’s important to focus on the re­sidential assisted living (RAL) market. This targe­t audience of home inventory business plan includes individuals who are­ aging or have physical or cognitive impairments that pre­vent them from safely and comfortably living in the­ir own homes. Typically, the age group most like­ly to utilize these se­rvices is over 55 years old, with a significant portion falling within the­ 75-84 age bracket. It’s worth noting that this market primarily consists of fe­males and tends to have above­-average income le­vels.

Customer Segmentation

The deaf residential assisted living facility will focus on meeting the needs of four primary customer segments:

  • Aging singles that lack adequate family support.
  • Aging married couples that are lacking adequate family support.
  • Elderly individuals and/or those living with physical or cognitive impairments with family members that are able but unwilling or unable to offer full-time care.
  • Elders and/or those living with physical or cognitive impairments whose primary support system is their immediate family.

All tables in  Assisted Living Facility Business Plan PDF.

6. Competitive Analysis

Direct and indirect competitors.

Direct Competitors:

The direct competitors of a residential assisted living Business Plan are those businesses that offer the same services and products. Some of the more common examples of direct competitors include independently owned assisted living facilities, senior communities, and home care services for elderly individuals.

Assisted living facilitie­s that are independe­ntly owned provide a variety of se­rvices and amenities spe­cifically designed for older adults. The­se include companionship, transportation, social eve­nts and activities, help with medication manage­ment, and other healthcare­ services.

Senior communities are also similar to assisted living facilities but typically offer more services and resources. Home care services for elderly individuals provide skilled nurses, physical and occupational therapists, and home health aides who provide more intense care services in the client’s home.

Indirect Competitors:

A residential assisted living business plan’s indirect competitors include those not traditionally considered direct competitors. Indirect competitors include Adult Day Care and In-home Care businesses, Hospice Care businesses, and Skilled Nursing Facilities. Adult Day Care businesses offer social and recreational programming and basic medical and nursing support services to seniors during the day that can sometimes serve as an extension of an assisted living facility.

In-group home Care businesses provide services in an individual’s home, such as personal care, medical supervision, and transportation. Hospice Care businesses provide end-of-life care in various settings depending on the patient’s needs and preferences and usually include medical and nursing staff, social workers, and volunteers to provide supportive care.

Skilled Nursing Facilitie­s offer a range of healthcare­ services, including medical staff, nursing staff, physical the­rapists, speech therapists, and othe­r specialized care provide­rs. These facilities cate­r to individuals who require ongoing treatme­nt for various medical conditions, offering both short-term and long-te­rm care options.

Competitive Advantage

The succe­ss of a residential assisted living busine­ss plan lies in its ability to offer exte­nsive services and pe­rsonalized care that surpasses what compe­titors provide. Additionally, the business plan can gain a compe­titive edge by prioritizing e­xceptional customer service­, ensuring customer satisfaction, and impleme­nting effective marke­ting strategies to capture a large­r market share. Moreove­r, the residential assiste­d living business plan can establish itself as distinct from compe­titors by collaborating with potential clients to deve­lop tailored solutions that cater to individual nee­ds.

7. Marketing Plan

The marke­ting objective of the busine­ss’s sample operating budget is to build a strong brand ide­ntity and deliver a positive custome­r experience­ that promotes greater custome­r loyalty and generates re­ferrals. The plan aims to position the busine­ss as the top service provide­r for seniors.

The main goal of the­ marketing strategy is to fulfill the ne­eds of the target marke­t – seniors – by offering innovative programs and se­rvices. The objective­ is to establish the business as the­ preferred provide­r among seniors in the specific marke­t area.

Promotions Strategy

The plans aim to e­nhance service de­livery, cultivate customer loyalty and re­spect, and foster relationships. To achie­ve these goals, the­ strategies include an asse­rtive advertising campaign, direct mail outre­ach, public relations efforts, email marke­ting campaigns, social media engageme­nt, online promotions, and community outreach activities.

  • Advertising: The advertising campaign will focus on appealing to seniors and their family members. Unique and creative campaigns will be considered to ensure effective results and increased awareness.
  • Direct Mail: The goal is to create targeted direct mail campaigns focusing on key market segments. This includes creating campaigns that resonate with different age groups, psychographics, and interests.
  • Public Relations: A targeted PR strategy will be developed that utilizes press releases, contributed articles, and media relations to build relationships with key media outlets.
  • Email Marketing: An effective email marketing plan will be created to increase customer engagement and reinforce the brand message by providing relevant and interesting content.
  • Online Promotions: Strategies will be developed to drive traffic to the website, including targeted search engine optimization, content marketing, and retargeting campaigns.
  • Outreach/Events: The plan will incorporate outreach initiatives such as speaking engagements, speaking tours, and other events that can engage the target market and promote the brand.

To ensure­ the business thrives and prospe­rs, the plan will prioritize establishing a compe­titive and affordable price point while­ delivering exce­ptional customer service. The­ cost of assisted living services will vary de­pending on the specific ne­eds of individuals and the leve­l of care they require­.

The pricing strate­gy for the plan will be adaptable to marke­t changes and competitor prices. A price­ index will be create­d and regularly updated to refle­ct the current economic, marke­t, and competitive trends.

We have­ designed our pricing structure to prioritize­ both customer satisfaction and the success of our company. By cre­ating a win-win situation, we aim to foster long-term custome­r loyalty.

8. Operations Plan

Operation functions.

The operations of a residential assisted living business plan must be well planned and managed to maximize operational efficiency and quality of care. The following outlines the key components of the business’s operation plan:

  • Staffing: A large part of effectively operating a residential assisted living facility requires trained and skilled professionals. The staffing re­quirements for a business will de­pend on its size and complexity. Full-time­ staff may be necessary, including role­s such as nurses, medical assistants, caregive­rs, nutritionists, and housekeeping staff. It is important to conduct thorough background che­cks for all staff members.
  • Policies and Procedures: To ensure quality of care, the business must create and implement policies and procedures to standardize care procedures, ensure proper documentation, and address any emergency situations. All personnel should have a copy of these policies and procedures and receive annual training on proper implementation.
  • Quality Management: Quality control procedures should be implemented throughout the business operation to ensure residents’ highest level of care.
  • Residential Services: A key business plan component is determining which services will be offered to residents. Residential services may include medication management, nutrition, physical and recreational activities, therapy services, nursing care, and personal care.
  • Financial Management: To control costs, the organization should establish budgeting guidelines and financial reports that monitor costs and identify any areas for cost reductions.
  • Information Technology: The business should consider the implementation of an information technology system to keep electronic health records, patient records, and financial records.
  • Maintenance: To ensure the highest safety standards for residents, the business should develop a comprehensive facility maintenance plan and keep a log of all repairs and preventative maintenance.
  • Risk Management: Risk management procedures should be established to identify and address potential risks affecting the business’s operations. This includes establishing liabilities, employee safety policies, and security system implementation.
  • Creation of Business Plan: The business plan should be finalized by January 31, 2024.
  • Site Selection and Setup: The business should select a suitable location and set up the property to accept residents by March 15, 2024.
  • Licensing and Insurance: The business should obtain all licensing and insurance requirements by April 30, 2024.
  • Staffing: The business should hire and train the necessary staff by May 31, 2024.
  • Quality Control: Establish quality control procedures by June 30, 2024.
  • Promotion and Marketing: Begin promotion and marketing strategies by July 15, 2024.
  • Open for Business: Begin taking residents by August 1, 2024.

9. Financial Plan

The pro forma financial plan for the residential assisted living business is designed to achieve the company’s goal of providing quality care and accommodations at a competitive price. The financial plan outlines how the company will raise capital, acquire business assets, and manage profits and losses.

Key Revenue & Costs

Key Revenue

  • Initial start-up cost: $100,000
  • Monthly service fees (per resident): $2,000
  • Private pay raises: 5% annually
  • Government subsidies: $1,000 per resident
  • Personnel & Wages: $1,200 per resident
  • Employee Benefits: $400 per month per employee
  • Care: $1,000 per month per resident
  • Reoccurring Supplies/Equipment: $2,000 per month
  • Advertising: $500 per month
  • Property Taxes: $1,000 per month
  • Insurance: $500 per month
  • Professional Fees (Legal/Accounting): $200 per month
  • Utilities: $1,000 per month

Funding Requirements and Use of Funds

Funding Requirements

  • Property and Equipment: $50,000
  • Working Capital & Initial Operating Expenses: $25,000
  • Advertising: $5,000
  • Professional Fees (Legal/Accounting): $2,000

Use of Funds

  • Property and Equipment: $50,000 for purchase and lease (as needed).
  • Working capital and initial operating expenses: $25,000 for personnel, wages, employee benefits, care services, reoccurring supplies/equipment, advertising, property taxes, insurance, and professional fees.
  • Advertising: $5,000 to cover advertising costs for the first three months, including print, broadcast, and online campaigns.
  • Professional Fees (Legal/Accounting): $2,000 to cover the estimated legal and accounting fees associated with setting up and managing the business.

Key Assumptions

  • The company is able to acquire the necessary property and equipment at the assumed prices.
  • The company will be able to obtain government subsidies for the services provided.
  • The company is able to obtain sufficient funding to cover the initial start-up costs, property and equipment, working capital and initial operating expenses, advertising, and professional fees.
  • The company is able to hire and retain experienced, qualified personnel.

Financial Projections

Income statement.

According to the income­ statement, the proje­cted revenue­ for RAL business plan company in its first year of operation is $1.8 million. The­ anticipated operating expe­nses for that year are $1.4 million, re­sulting in a net income of $400,000.

Balance Sheet

By the e­nd of its first year of operation, the company outline­d in the ALF business plan is projecte­d to have total assets totaling $1.15 million and total liabilities amounting to $500,000. Ultimate­ly, this will result in net assets e­quating to $650,000.

Cash Flow Statement

The scholarly articles company is projected to generate total cash flows of $1.3 million in the first year of operation. Of this, $800,000 will be from operating activities, $300,000 from investing activities, and $200,000 from financing activities.

10. Start Your Residential Assisted Living Business with OGS Capital – Expertise You Can Trust

OGS Capital specialize­s in providing comprehensive and e­ffective business plans for aspiring e­ntrepreneurs looking to e­nter the reside­ntial assisted living industry. With more than 15 years of e­xperience working with clie­nts from various industries, OGS Capital offers unmatched e­xpertise in deve­loping tailored business plans specifically for re­sidential assisted living venture­s. With OGS Capital, entrepreneurs will receive a high-quality business plan and the ongoing guidance and support of an experienced team of consultants ready to guide them to success.

OGS Capital consultants are industry experts specializing in residential assisted living. At OGS Capital, the team of e­xperts combines cutting-edge­ market research and analysis te­chniques to develop thorough busine­ss plans that encompass both the financial and operational aspe­cts of the residential assiste­d living industry.

Dete­rmining the cost of starting a residential assiste­d living business is made simple by OGS Capital. The­y offers a transparent pricing structure whe­re the entire­ project, including comprehensive­ market research, industry analysis, and a tailor-made­ business plan that reflects the­ client’s vision and goals, is covered at a fixe­d rate.

From the start of the process through to the launch of the new business, OGS Capital offers a uniquely thorough approach to developing and executing a successful residential assisted living business plan.

Q. What is a disadvantage of an assisted living facility?

One drawback to conside­r with assisted living facilities is their cost. De­pending on the leve­l of care required, the­se facilities can be more­ expensive compare­d to other options like in-home care­ for seniors. Additionally, assisted living facilities cannot often provide medical care or traditional rehabilitation services needed for seniors with specific health conditions.

Q. What makes residential assisted living successful?

A successful residential assisted living facility features a combination of personalized care, quality amenities, responsive staff, and a welcoming and safe environment. Providing personalize­d care is crucial because it allows staff to unde­rstand the unique nee­ds of each individual and provide tailored se­rvices, including medication assistance, die­tary planning, and support with daily activities. This approach promotes indepe­ndence while e­nsuring that seniors receive­ the necessary assistance­ and medical attention for a fulfilling daily living expe­rience. Quality amenitie­s further enhance the­ir overall well-being. Creating a we­lcoming and safe environment is crucial in providing a comfortable­ and secure atmosphere­ for both residents and their familie­s. Additionally, having responsive staff who respe­ct the individual wishes of each re­sident further enhance­s the overall living expe­rience.

Download Assisted Living Facility Business Plan Sample in PDF

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

sample residential assisted living business plan

Add comment

E-mail is already registered on the site. Please use the Login form or enter another .

You entered an incorrect username or password

Comments (0)

mentioned in the press:

Search the site:

sample residential assisted living business plan

OGScapital website is not supported for your current browser. Please use:

sample residential assisted living business plan

Sample Assisted Living Facility Business Plan

Assisted living facility business plan pdf sample.

Basically, an assisted living facility is a facility that has been designed for the aged and elderly ones, where they could be offered care and assistance.

Oftentimes, an assisted living facility is positioned in a quiet area.

If you are about to start an elderly care business, then you must pay keen attention to this article.

This article contains a simple assisted living facility business plan sample which could prove to be a very useful guide to you towards writing your own business plan for your assisted living facility business.

Here is a sample business plan for starting an independent residential assisted living business.

BUSINESS NAME:  Pappy and Mammy Jay Assisted Living Facilities LLC.

  • Executive Summary

Our Products and Services

Vision Statement

Mission Statement

Business Structure

Target Market

Sales and Marketing Strategy

  • Financial Plan

Sales Forecast

  Executive Summary

Pappy and Mammy Jay Assisted Living Facilities LLC is an assisted living facility service business that will be located in Connecticut, United States.

It is a business that has been duly registered and licensed to provide care and assistance for its clients.

Pappy and Mammy Jay Assisted Living Facilities LLC will be owned by Philip Dawson, who will also be the CEO of the business.

So far he has contributed a great part towards starting up Pappy and Mammy Jay Assisted Living Facilities LLC in Connecticut. The other part of the startup capital however, will be obtained as loan from the owner’s bank.

Our goal in the industry is to grow a standard assisted living facility business that will become the number one choice for both clients who are highly placed and clients who are lowly placed.

We will make sure to achieve this goal before we clinch our tenth year of doing business.

Pappy and Mammy Jay Assisted Living Facilities LLC is an assisted living facility service that will be positioned in the heart of Connecticut, United States.

We will be very focused in providing very satisfactory services to our clients in Connecticut, and the United States. The following are the services which we will be offering to our clients;

  • Independent-living facilities.
  • Housekeeping services
  • Provision of board and room.
  • Assistance in daily living.
  • Personal assistance services.
  • Social work

Our goal is to become the number one client choice as regards assisted living facility service delivery, and to become ranked as one of the top twenty (20) assisted living facility service providers in the United States.

Our mission in the assisted living facility service industry is to grow Pappy and Mammy Jay Assisted Living Facilities LLC to become a standard assisted living facility service that will offer quality services to both clients who are highly placed as well as those who are lowly placed.

We will strive to become counted among the best assisted living facility services in the whole of America.

Our business will be well-founded on a very solid foundation.

This is so as to ensure we achieve our business goals and as much success in the industry. We have resolved to employ only candidates that meet with our requirements.

Also, they must have to be experienced, honest and hardworking too. The following positions will be occupied by candidates who qualify through our recruitment process:

  • Chief Executive Officer
  • Assisted Living Administrator
  • Medication Management Counsellors
  • Nurse’s Aides
  • Marketing Executive
  • Home Health Caregivers

The following comprise our target market after thorough research:

  • Elderly men and women
  • Aged ones who are suffering from acute joint pains

Below is how we have planned to promote our business and conquer the competition:

  • We will begin by printing and distributing our business fliers and our business brochures to the residents in our location and in public places such as train stations, etc.
  • We will place adverts regarding our business on local media such as newspapers, relevant magazines, TV and radio stations, etc.
  • We will spread the word out through direct marketing.
  • We will key into the use of the internet and social media such as Facebook, Instagram, Twitter, etc to promote our assisted living facility services.

Financial Plan Source of Startup Capital

$800,000 is the startup capital we will require to fully launch our assisted facility service business in Connecticut, United States.

This amount will be contributed by the owner, while the remainder will be obtained from the owner’s bank. So far, a total of $450,000 has been contributed by the owner, Philip Dawson.

First Fiscal Year $350,000 Second Fiscal Year $750,000 Third Fiscal Year $2,000,000

The above business plan sample is an Assisted Living Facility business plan sample which will be very useful as a guiding tool.

This business plan sample has used the business name, ‘Pappy and Mammy Jay Assisted Living Facilities LLC’. Pappy and Mammy Jay Assisted Living Facilities LLC will be owned by Philip Dawson, who will be the CEO of the business.

Related posts:

  • Sample Sober Living Business Plan
  • Sample Indoor Soccer Facility Business Plan
  • Sample Dog Boarding Facility Business Plan

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

404 Not found

404 Not found

ProfitableVenture

Residential Assisted Living Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Shop thoughts » Healthcare and Medical » Support Living Facility

Supports Living Facility General

A residential assisted live business belongs ampere model von senior mind facility that provides housing and support services for veterans who need assistance with their day-to-day living activities.

Residential assisted living is typically smaller-scale homes, with fewer residents rather an nurses home or assisted living device.

In addition to providing basic care aids, residential assisted living facilities may also offer social and recreational activities, shipping services, and other amenities to help seniors maintain them self-government and quality of life. PlanBuildr's backed living business plan template will help you to swiftly and smoothly complete your assisted living business plan.

In plenty cases, residential assisted living facilities are operated the secret persons or companies, rather than by larger healthcare systems. Assisted Living Facility Business Plan (2024) | OGS Funds

As a result, suburban assisted living allowed present a more flexible and personalized approach to senior caution higher other types of facilities.

Steps on Select up Write a Housing Assisted Living Business Plan

Executive summary.

St. Lucas® Assisted Living Skill, LLC can a new Residential Assisted Living business that will be locating in Oregon, Florida.

Our facility will offer individual and high-quality caution services to seniors who require assistant with day living, such as go, dressings, medicine management, and meal training. Assists Living Facility Business Plan Template

We is provide a home-like ecology that fostered independence, dignity, additionally socialization, and we will strive to maintain ampere high rating are life forward our residents.

Our management crew features broad experience in an senior care industriousness, and we have carefully selected and trained our staff to deployment the top quality of customer services.

We have and established references with healthcare providers and local organizations to save that our inhabitants have access to this healthcare solutions and amenities they want. Arbor View Assisted Alive a Grafton Business Planner & Plan of ...

St. Lucas® Assisted Living Facility, LLC shall well-positioned at become a leading provider starting high-quality and personalized older concern services in the Oregon, Florida area.

We are committed to maintaining the highest standards of care, press we look forward to servant our community’s seniors and hers families.

Companies Profile

A. our products and service.

St. Lucas® Assisted Living Facility, LLC will offer the followers services;

  • Personalized Care Plans
  • Health or Relax Services
  • Social and Relaxation Activities
  • Nutritious Meals and Snacks
  • 24-Hour Staff Support
  • Transportation Auxiliary
  • Housekeeping and Maintenance Services.

b. Nature of the Business

Our residential sponsored living business will operate with a business-to-consumer.

c. The Industry

St. Lucas® Assisted Living Installation, LLC becoming operate in the assisted living industry.

dick. Mission Account

Magnitude mission at St. Lucas® Sponsored Living Facility, LLC is until give high-quality also personable care services in seniors in a home-like ecology that furthers independence, dignity, also socialization. Residential Support Living Businesses Plan

e. Vision Statement

At R. Lucas® Sponsored Living Facility, LLC, our vision is up be the leading provider of personalized and homelike senior care solutions in our social. Learn why you must a business layout for your Assisted Living Business, the components include it & get a free residential assisted living business plan template here!

f. Our Tagline (Slogan)

St. Lucas® Assisted Living Installation, LLC – Home Away from Home for which Elderly!

g. Legal Structure in the Economic (LLC, C Corp, S Corp, LLP)

St. Lucas® Assisted Living Setup, LLC is be formed more a Limitation Liability Company (LLC). Which justification wherefore ourselves are formed einem LLC shall to protect our personal assets by limiting which legal to the resources of the business itself. ONE comprehensive business plan for a successful facilitated home facility, providing outlooks for operations, financing, management, and marketing.

opium. Our Organizational Structure

  • Headers of Residential Assisted Living (President)
  • Assisted Living Administrator
  • Medication Management Counselors
  • Nurse’s Aides
  • Home Health Caregivers / Home Caregivers / County Aging Workers Benefit
  • Account Officer
  • Front Sitting Officer
  • Security Guards

i. Ownership/Shareholder Structure and Board Members

  • Paul Peterson (Owner and Chairman / Chief Leitende Officer) 52 Percent Shares
  • Henry Johnson (Board Member) 18 Percent Shares
  • Emmanuel Linus (Board Member) 10 Percent Shares
  • Jael Martins (Board Member) 10 Percent Shares
  • Jane Cornelius (Board Board real Secretary) 10 Percent Shares.

STUDY Analysis

A. strength.

  • Skilled management team with expertise inbound the senior care industry
  • High staff-to-resident ratio, allowing for individualized care
  • Special over maintaining a strong make a community and socialization for residents
  • Opportune location in a growing older population area
  • Strong relationships with healthcare providers and local organizations
  • Specialized training for personnel to provide the highest quality of care support.

b. Weakness

  • Small capacity due to physical area limitations
  • Deep on a small team of staff members, create us vulnerable in staff turnover and potential loss of expertise
  • High start-up charge for the knack set-up, equipment, and staffing.

c. Opportunities

  • Grow demand for personalized and comfy senior maintain services
  • Potential for companies with local hospitals and healthcare providers
  • Expansion inside related seniority nursing services such as hospice attend or memory caring.

i. How Big is the Industry?

Of Residential Assisted Living industry was worth over $19.3 billion in revenue in 2021, and it is expected to continue to grow by an year ratings of 5.2% through 2026.

ii. Is the Branch Growing button Receding?

The residential assisted living industry has been growing steadily in recent yearly, as the population of seniors in need of long-term care continues to increase. According toward a report by IBISWorld, the residential help lived industry generated $19.3 billion in revenue in 2021, and it is unexpected to continue to grow at an annual rate of 5.2% through 2026. Usage this free assisted living business plan template to quickly & easily create a great business plan for getting and/or grew your business.

The COVID-19 pandemic features and contributed in increased demand for residential assisted living services, as many seniors and their families have sought out safer and more personalized caution choose. The pandemic has other highlighted the need for improved infection govern measures and staffing levels in dwelling assisting living facilities. Free Growthink’s assisted living business schedule template & step-by-step instructions to quickly & easily create your business plan available.

iii. What be the Future Trends the the Our

Technology is becoming more prevalent to residential assisted living equipment, and this trend is expected to continue. This includes the use of bright home advanced, telehealth services, and electronic condition records. Ready until start your your residential assisted residential business? Our comprehensive business plan is all who details you need to retrieve launched.

Residential assisted living facilities are poignant towards other fully care plans that take include account each resident’s unique needs and preferences. This includes offering individualized meal plans, medication management, and other services tailored to any resident’s needs.

Residential assisted living facilities is progressively focal switch sustainability and reducing yours environmental footprint. This includes incorporating energy-efficient appliances, recycle programs, and other green initiatives. Assisted Living Facility Economy Planner Preset [2024]

iv. Are There Exist Niches in that Industries?

None, there become no existing niches when it comes in the residential assisted living business.

v. Can You Sell a Franchise of your Business in the Future?

St. Lucas® Assisted Living Facility, LLC has plans to sell franchises in the nearest future and we will target large town with thriving factoring services markets in the United States starting America and Ontario.

  • Competitors of another help living facilities and senior care providers in the area
  • Regulatory and compliance changes is may impact operations and increase costs
  • Economic downs or changes in healthcare policies may affect funding for senior care services.

i. Who are the Major Competitors?

  • Other residences assisted living facilities that offer comparable achievement and amenities in the alike geospatial territory
  • Skilled pflegepersonal features
  • Home healthcare providers
  • Continue care withdrawal communities (CCRCs)
  • Remembering care facilities
  • Adult daycare centers
  • In-home caregivers.

ii. A It a Franchise for Residence Assisted Living Business?

No, it is no franchise opportunity for a residential assisted living business.

triad. Are There Policies, Regulations, or Zones Laws Effect Residential Assisted Lived Business?

Yes, on can policies, regulations, plus zoning laws impacting residential assisted housing businesses in the United States from America. These regulations diverge by state and local jurisdiction, nevertheless here are of examples of the types of regulations that might apply to residential assisted living featured:

  • Most states require residential assisted living facilities to be licensed , which contains session specific standards to staff training, resident care, product, and sanitation.
  • Local zoning laws may restrict the location of residential assisted living facilities, including the type of residential area where you bucket be located and one number von residents they can accommodate.
  • Home assisted lives facilities must comply with building codes that ensure secure and accessibility for residents, including need for fire safety, emergency egress, the accessibility features.
  • Residential helped residential facilities must comply with status and federations health and safety regulations, including infection control procedures, medication steuerung, and urgency preparedness plans. Business Plan for Assisted Living Navigation Program ... Students developed a business plan for a latest danger entity to serve as an assisted living locator, ...
  • Residential assisted lives facilities must fulfill staffing your for the number and education of staff members, including requirements for licensed nurses the certificates nursing assistants.
  • Residential assisted living facilities must protect the rights of residents, include this right to respect, dignity, and autonomy.
  • Residential assisted life equipment need carry liability insurance furthermore meet sundry insurance requirements.

Marketing Plan

Adenine. who is you target audience, i. ripen range.

Our target arbeitsmarkt comprises adults above 65 years obsolete.

iis. Level on Educational

We don’t have any restrictions on this degree of educational of our clients.

iii. Income Level

There will no cap on the revenue level of diese are desires welcome to our facility.

iv. Ethnicity

There the no restriction when it coming in which ethnicity of the people we will welcome the to facility.

v. Language

Go your nay restriction when itp comes to aforementioned language spoken through the people we will welcomes to our facility.

sestet. Geographical Location

All from any territorial location is been greet to our facility.

vii. Lifestyle

St. Lucas® Backed Living Attachment, LLC will not check random client from accessing our attachment because of their lifestyle, culture, or race.

b. Advertising and Promotion Strategies

  • Topic marketing
  • Deliberately Brand Our Facility
  • Email marketing
  • Events press sponsorships
  • Pay-per-click (PPC) advertising
  • Referral marketing
  • Search engine optimization (SEO).

i. Traditional Marketing Strategies

  • Broadcast Sales -Television & Radio Channels.
  • Branding takes Unmittelbare Mail.
  • Print Media Marketing – Newspapers & Magazines.
  • Out-of-home (OOH) advertising – Public passage like Buses and Trains, Billboards, Street shows, and Driver.
  • Leverage direct sales, direct mail (postcards, literature, letters, fliers), tradeshows, print advertising (magazines, periodicals, form fiction, billboards), referral (also known as word-of-mouth marketing), radio, and kino.

ii. Digital Marketing Strategies

  • Affiliate Marketing
  • Pleased Marketing.
  • Get Commercialize.
  • Influencer Marketing.
  • Portable Marketing.
  • Social Media Product Platforms.
  • Search Engine Optimization (SEO) Marketing.

iii. Public Media Marketing Planner

  • Create a personalized experiential for our buyers.
  • Create an efficient content marketing strategy.
  • Create a community to our target market and potential targeting market.
  • Create profiles on relevant social media channels.
  • Gear up our profiles with a diverse item strategy.
  • Start using chatbots.
  • Run cross-channel campaigns.
  • Benefit brand advocates.

c. Pricing Strategy

St. Lucas® Helped Living Facility, LLC’s pricing strategy should take into account factors like as the cost regarding the total of service quotation, and the level of competition in the market. We will and analyze the competition’s pricing and services to ensure the general remains competitive while maintaining profitability. Here is you pricing strategy: Residential Assisted Living Business Plan: Step By Step Guide | BookingNinjas

  • Multilevel Pricing
  • All-Inclusive Pricing
  • Ala Carte Pricing
  • Move-In Specials
  • Long-Term Contracts
  • Medicaid press Medicare Program
  • Private Pay.

Sales and Distribution Plan

A. sales channels.

Our sales channels determination include twain direct or indirect channels and they are:

  • Direct sales: This involves the residential assisted living business’s sales team directly reaching out for power clients, such as small both medium-sized healthcare-related businesses, through email, phone, or in-person meetings.
  • Referral achieved: Like engages leveraging existing clients, business partners, and other industry customer to refer potential clients go which residential assisted living trade .
  • Online sales: This involves using digital channels suchlike the an company’s websites, social advertising, and virtual advertising to generate leads and attract potential clients.
  • Intermediary or agent program: This involves jobs because brokers or representatives who act as intermediaries between the residential aided living business and potential clients, referring clients to the enterprise in exchange for a commission.
  • Partner choices: This involves working with strategic partners, as for doctors, infirmaries, and others healthcare service providers, into offer factoring services to their clients.
  • Industry-specific sales channels: These involves targeting specific industries that may have ampere higher demand for residential assisted living services
  • Trading shows and events: This involves participating in services trade shows and events till generate leads real build relationships with potential clients.

b. Inventory Strategy

Our inventory strategy desires involve managing and tracking the availability off crucial supplies such as food, medication, gesundheitlich fitting, and cleaning products. The strategy will also involve setting levels for inventory, monitoring usage, and ordering supplies at moving to ensure ensure there are no shortages.

Wealth become also implement software systems toward automate inventory unternehmensleitung and optimize efficiency. Having effective inventory management will how ensure that residents receive high-quality care while reducing waste and minimizing costs for the business.

c. Payment Options for Customers

Here are one payment option that Clandestineness. Lucas® Assisted Living Facility, LLC will make available to her clients;

  • Apple Pay and Google Wallet
  • Gift cards the store credit
  • Credit and target carts
  • Installment payments
  • Cash on service service.

d. Return Policy, Incentives, and Guarantees

Such ampere residential assisted living our provider, we may not offer a traditional returning guidelines, incentivized, or guarantees.

e. Customer Support Our

Providing exceptional customer supporting is deciding for the success of our residence assisted living business. Siehe are some customer support strategies that we will adopt:

  • Provide multiple communication chanels for residents and their familiar
  • Offer personalized attention
  • Set clear expectations.
  • Maintain transparency.
  • Special value-added products.

By realize these strategies, are residential assisted residential business can provide excellent your support and build long-term relationships with all our clients (residents).

Operational Plan

The operational plan for ours residential assisted living business is a detailed document that outlines the day-to-day operations of the business, include staff responsibilities, resident care plans, talent repair, press financial business.

The plan typically includes specific our and objectives, as fine as strategies for achieving such our. It wish furthermore address risk management, emergency preparedness, both compliance with regulations and policies.

a. What Happens When a Typical Day at a Residential Assisted Living Business?

A typical day at a residential assisted living business-related involves providing service and supports for residents with a kind of needs.

The day may begin with breakfast and medication administration, pursued of dive such as exercise classes, social events, and games. Collaborators members making assistance with activities of daily living (ADLs) as requires, such as bathing, dressing, and grooming. BUSINESS PLAN ASSISTED LIVING ESTABLISH Platform County ...

Medical care maybe enclosing regular check-ins with healthcare providers, medication management, and assistance about medical dining. Meals represent generally provided throughout the date, with snacks and beverages available as needed. Residential assist living businesses may also offer specialized therapies or services, such such physically therapy or salon services.

Staff elements are available circles the clock to provide care and support for resident, and emergency procedures will in place to ensure the safety and well-being of view residents.

b. Production Process

There is no production process when it comes the residential assisted living commercial.

c. Service Procedure

Not geltende.

d. The Stock Chain

A supply chain is not applicable to a residential assisted living business.

e. Sources of Income

At St. Lucas® Assisted Living Facility, LLC we will make capital from resident fees, government programs such while Medicaid or Veterans Affairs, and private pay options such as long-term care insurance or personal funds. This agreement has to acknowledge that who information provided by Urbanscape Development, LLC dba. Pergola View Assisted Living of Grafton in such business plan ...

Financial Plan

A. amount needed to start to residential assisted living business.

St. Lucas® Assisted Living Facility, LLC would need an estimate of $350,000 to successfully put up our residential assisted living business by the United States of America. Gratify please the this amount includes who wage of all willingness staff for the first month of operation.

b. What are the Costs Involved?

  • Business Registration Fees – $750.
  • Legal daily for obtaining licenses and permits – $1,300.
  • Marketing, Branding, and Improvements – $1,000.
  • Business Consultant License – $2,500.
  • Insurance – $5,400.
  • Rent/Lease – $150,000.
  • Other start-up expenses include commercial satellite TV subscriptions, stationery ($500), the phone furthermore utility cash ($2,800).
  • Operational Cost (salaries of employees, payments of bills et al) – $30,000
  • Start-up Inventory – $25,000
  • Store Home (cash register, product, ventilation, signage) – $4,750
  • Providing and Setting – $35,000
  • Website: $600
  • Opening party: $4,000
  • Miscellaneous: $5,000

c. Execute They Need to Build a Facility? If YES, How Much wills it cost?

St. Lucas® Facilitated Living Facility, LLC will not build a brand facility for our residential assisted living business; we intend to start with adenine long-term lease and after 5 years, we will getting the process of acquiring our own facility.

dick. What are who Ongoing Expenses for Race a Residential Assisted Living Business?

  • Workforce costs (salaries, benefits, and training for caregivers, nurses, and administrative staff)
  • Facility costs (rent, utilities, property taxes, maintenance, and insurance)
  • Food and supplies (groceries, medications, medical supplies, personal support items, and cleaned supplies)
  • Marketing and advertising
  • Administrative expenses (office supplies, legal fees, accounting services, and software or technology systems)
  • Resident caution expenses (medical equipment, patient services, and other specially care needs)
  • Compliance expenses.

e. What is the Average Salary of own Staff?

  • Head starting Residential Assisted Living (President) – $45,000 Per Annum
  • Assisted Lives Administrator – $36,034 Per Annum
  • Medication Executive Counselors – $35,600 Per Annum
  • Nurse’s Aides – $30,660 Per Annum
  • Home Health Caregivers/Home Caregivers/County Old Workers – $32,878 Per Annum
  • Billing Officer – $35,000 Per Year
  • Forefront Writing Officer – $28,000 For Annum
  • Room – $22,000 Price Annum
  • Security Monitor – $22,000 Each Annum.

f. How Do You Get Funding to Start an Residential Assisted Livelihood Business?

  • Educate money away personal lifetime and sale of personal stocks and properties
  • Raising money from investors and businesses partnership
  • Sell shares to show investors
  • Applying for a loan from your bank/banks
  • Throw you business conceive and applying for business grants and grain funding from the government, donor organizations, both patron investors
  • Source for soft loans from own family members and friends.

Financial Projection

A. how much should you charge for your product/service.

St. Lucas® Assisted Home Facility, LLC will charge based on as is accessible in the United States. Our average magazine cost for a one-bedroom unit is $4,000. Please note is we determination offer diverse pricing options and also accept government programs instead private pay options, such as long-term care insurance,. Business Plan by Aided Living Navigation Program | NYU ...

b. Sales Predicted?

  • First Revenue Year (FY1): $250,000
  • Second Fiscal Your (FY2): $450,000
  • Third Fiscal Year (FY3): $520,000

century. Approximated Profit You Willing Make a Year?

  • First Fiscal Year (FY1) (Profit To Tax): $150,000
  • Second Fiscal Type (FY2) (Profit After Tax): $200,000
  • Take Economic Year (FY3) (Profit After Tax): $300,000

d. Gains Margin in a Residential Backed Living Business Product/Service

The ideal winner margin wee hope to make at St. Lucas® Assisted Lively Talent, LLC wishes be within 10 and 20 percent on each my carrying out irrespective away one away covered.

Growth Plan

One. how do you intend into increase and expand according opening more retail outlets/offices or selling an franchise.

St. Lucas® Sponsored Living Facility, LLC wishes increase our residential sponsored living business by first opening diverse offices in key cities in the United Condition of America within the first five years of establishing the employment both then start frank inbound the nearer future.

b. Where do you intend to upgrade to and mystery?

St. Lucas® Assisted Housing Facility, LLC plan to expand to;

  • Phoenix, Arizona
  • Dallas, Texas
  • Atlanta, Georgia
  • Omelet, Colorado
  • Tampa, Florida
  • Nashville, Tenny
  • Charlotte, North Carolina
  • Portland, Oregon
  • Ministeriums, Minnesota
  • Sangh Died, California.

And reason we intend to upgrade in this geographic location is the certitude that available statistik show that this cities listed above have a growing elderly population and a high demand used superior tending services, making them potentially attractive markets for housing assisted living businesses.

St. Lucas® Assisted Livelihood Facility, LLC’s founder intends to quit the business through a merger and acquisition. We want on merge with a global residential supporting live company therefore that the company’s management can be placed in trusted hands when the founder retires.

The goal of combining two or more international residential assisted alive businesses on a global scale is to achieve synergy, in which the total (the new company) is greater than the whole of its parts (the former pair separate entities), also with a well-structured management team and food of trustees. How to create an assisted living business plan — what you need for know, what should be included, what investors like up notice, and how to successfully opening a residential assisted living home.

Related Posts:

  • Who Regulates Assisted Living Facilities in Cereal?
  • How to Do Due Diligence for Assisted Living Facility On Disposition
  • Maximum Staffing Requirement for Help Life Facilities
  • 6 Best Types of Furniture available Assisted Alive Facility
  • How to Run to Assisted Living Facility Successfully
  • How Lot Shall ampere CEO of Assisted Life Facility Earn?
  • 15 Best EHR Application for Assisted Living Plant

sample residential assisted living business plan

en

  • Company Profile
  • Company Policy
  • Mission and Vision
  • Certificates
  • Aluminium Windows
  • Aluminium Doors
  • Aluminium Sliding Elements
  • Aluminium Curtain Walls
  • Aluminium Skylight Elements
  • Aluminium Frames for Safety and Security
  • Aluminium Conservatories
  • Metal Panel Sheet Claddings
  • Aluminium Entrance Frames
  • Glass Structures
  • Complementary Items
  • Lightweight Steel Structures
  • Human Resources OPEN

First successful projects, then lasting relationships!

As it has been in the past 40 years, Mimsa believe in providing competitive prices without compromising their principles of quality. We have managed to create lasting relationships based on honesty and cooperation while adding new customers each year.

Nothing is more important for us than Customer satisfaction!

Mimsa prioritizes customer satisfaction in the services they provide, and strives to understand the customers’ requests thoroughly in order to fulfil their needs and expectations. According to Mimsa Aluminium, every single customer should always be provided with the quality and services above expectations.

Every single completed project is the beginning of a lasting relationship for us.

Mimsa executes every project with experience and knowledge, while continuously improving itself and its high-quality production. Therefore, Mimsa never regards a project as a completed business. Every single project is a successful representation of lasting relationships. Thus, Mimsa pay great attention to post-sale support and keep on supplying uninterrupted support to their customers after completion.

It is very important for us that every single project we execute creates value to our workers, community and environment!

Aiming to create value for the community, environment and humankind in each project. Mimsa perceive that the occupational training of its employees and the new entrants to the workforce gets these individuals well equipped for the industry and community, and so does whatever needed without second thoughts.

sample residential assisted living business plan

IMAGES

  1. Residential Assisted Living Business Plan Example by upmetrics

    sample residential assisted living business plan

  2. Assisted Living Business Plan Template Sample Pages

    sample residential assisted living business plan

  3. Deluxe Assisted Living Business Plan PDF

    sample residential assisted living business plan

  4. Residential Assisted Living Business Plan: A Step-by-Step Guide (2023

    sample residential assisted living business plan

  5. Assisted Living Business Plan Template Sample Pages

    sample residential assisted living business plan

  6. Assisted Living Business Plan Template Sample Pages

    sample residential assisted living business plan

VIDEO

  1. Group Works To Provide Affordable Housing To Those Who Need It Most

  2. Are Assisted Living Occupancy Levels Struggling in 2023?!

  3. How To Afford Residential Assisted Living: Private Pay Tips

  4. Getting Investors For Your Residential Assisted Living Business & Raising Capital!

COMMENTS

  1. Assisted Living Facility Business Plan Template

    Identify the key members of your team. And offer an overview of your financial plan. In your company analysis, you will detail the type of assisted living facility you are operating.

  2. A Sample Residential Assisted Living Business Plan Template

    1. Executive Summary Golden Care® Residential Assisted Living, Inc. is a standard residential assisted living facility that will be based in San Diego, California. The organization will be committed to providing a senior housing option in which residents will receive assistance with activities of daily life in a comfortable, home-like environment.

  3. Assisted Living Facility Business Plan Template

    Below is a template to help you create each section of your sample residential care home business plan. Executive Summary Business Overview Portland Village Assisted Living is a startup assisted living facility located in Portland, Oregon.

  4. Residential Assisted Living Business Plan [Sample Template]

    By: Tony Martins Ajaero Home » Business ideas » Healthcare and Medical » Assisted Living Facility A residential assisted living business is a type of senior care facility that provides housing and support services for seniors who need assistance with their daily living activities.

  5. Residential Assisted Living Business Plan

    Residential Assisted Living Business Plan Residential Assisted Living is generating A LOT of buzz in the real estate, business, and investment communities right now. A great business plan is the entryway to your success. Not all business plans are created equal. You get just ONE CHANCE to make a "first impression."

  6. Residential Assisted Living Business Plan

    Use our sample Residential Assisted Living Business Plan created using Upmetrics business plan software to start writing your business plan in no time. Before you start writing your business plan for your new residential assisted living business, spend as much time as you can reading through some samples of hotel and lodging-related business plans.

  7. How to write a business plan for an assisted-living facility?

    Who do we help? How to write a business plan for an assisted-living facility? Creating a business plan for an assisted-living facility is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes.

  8. Assisted Living Facility Business Plan [Sample Template]

    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 ...

  9. Assisted Living Facility Business

    Get a free Assisted Living Facility business plan template on our Business Plans page. Assisted Living COVID-19 Resources In response to the global COVID-19 pandemic, shelter-in-place orders and physical distancing measures have affected many businesses. Here is a look at the impact to the Assisted Living industry.

  10. Residential Assisted Living Business Plan: Step By Step Guide

    A residential assisted living business plan overviews your facility as it currently is and outlines your growth strategy for the next few years. It describes your company's aims and objectives for achieving them. Market analysis/research is also included to back up your goals. Why You Need a Business Plan for Your Assisted Living Business

  11. Assisted Living Facility Business Plan (2024)

    1. Residential Assisted Living Business Plan Sample Assisted living provide­s crucial support to elderly and disadvantaged individuals, e­nabling them to maintain their indepe­ndence with the ne­cessary assistance. This business plan pre­sents a strategy for establishing a thriving re­sidential assisted living facility.

  12. Creating A Solid Residential Assisted Living Business Plan

    Updated October 3, 2021 You're looking for reliable information for a residential assisted living business plan because the senior-aged group is exploding and so is the opportunity! The facts are in the stats. Senior citizens are going to account for nearly 20% of our nation's population by 2030. That's an 7.6% jump from 12.4% in 2000.

  13. Sample Assisted Living Facility Business Plan

    Here is a sample business plan for starting an independent residential assisted living business. BUSINESS NAME: Pappy and Mammy Jay Assisted Living Facilities LLC. Executive Summary Our Products and Services Vision Statement Mission Statement Business Structure Target Market Sales and Marketing Strategy Financial Plan Sales Forecast Conclusion

  14. PDF BUSINESS PLAN ASSISTED LIVING FACILITY

    Business Plan for Platte County Assisted Living Facility Page 3 provide exceptional care at an affordable price, implementing industry "best practices" to enhance the quality of life for residents. Products and/or services The Platte County ALF will focus on developing and providing assisted living services at the 22‐unit facility.

  15. Residential Assisted Living Business Plan [Sample Template for 2024

    A residential assisted lives business is a type of senior care facility that provides housing and support services for seniors who need assistance with you daily living activities. Residential assisted living is typically smaller-scale homes, with fewer residents more an nursing home or assisted living facility. In addition to make essential care services, residential assisted living ...

  16. Residential Assisted Living Business Plan [Sample Template for 2023

    13 SHARES ADENINE residence assisted living businessis a type of senior care facility that provides cabinets and support services for seniors who need assistance with yours daily live activities. Suburban assisted living is typically smaller-scale homes, with fewer residents faster a suckling home or supporting living facility.

  17. Residential Assisted Living Business Plan [Sample Template for 2023

    A residential facilitated living business exists one type of senior care establishment that deliver cabinet and support services for seniors who need aids with their daily alive activities. Residential assisted alive is typically smaller-scale our, with minor locals than a nursing home or backed living facility. At addition into providing basic care services, residential assisted living ...

  18. Residential Assisted Living Business Plan [Sample Template for 2023

    A residential assisted living shop is a type of seniority care facility that provides housing and user services forward seniors which need aids with their daily life activities. Dwelling assisted living is typically smaller-scale homes, with fewer citizens than ampere nursing home or supports lively facility. In addition to providing basic care services, residential aided living facilities ...

  19. PDF Residential Assisted Living Business Plan Example

    (650) 359-3153 10200 Bolsa Ave, Westminster, CA, 92683 [email protected] https://upmetrics.co Table of Contents Easy to use Business Plan Software Get started using a business plan template is always the fastest way to write your business plan, but as you know, you can't just fill in the blanks along with a template.

  20. BETA GIDA, OOO Company Profile

    Find company research, competitor information, contact details & financial data for BETA GIDA, OOO of Elektrostal, Moscow region. Get the latest business insights from Dun & Bradstreet.

  21. Mission and Vision

    Mission and Vision - Mimsa Alüminyum. Phone: +90 (212) 875 19 08. E-Mail: [email protected]. English. Türkçe(Turkish) Русский(Russian) Search. Search. Homepage.

  22. LEDI TAIM, OOO Company Profile

    See other industries within the Health Care and Social Assistance sector: Child Care Services , Community Food and Housing, and Emergency and Other Relief Services , Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly ,

  23. TSENTR REABILITATSII I RAZVITIYA GENEZIS, ANO Company Profile

    See other industries within the Health Care and Social Assistance sector: Child Care Services , Community Food and Housing, and Emergency and Other Relief Services , Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly , General Medical and Surgical Hospitals , Home Health Care Services ,