Filling a vacant assisted living room quickly is the dream of ever owner/manager, but don’t discount the long-term benefits of taking whatever time you need to get a quality tenant in place.
Making immediate improvements to two areas could bolster both interest in your community and your occupancy rates: marketing and sales. Some communities view marketing and sales initiatives as interchangeable or “one in the same.” However, there is a clear distinction: Marketing gets heads turning toward your community, sales happens once your target is already in the door.
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Running any business has its risks. Assisted Living is no different. Fueled by an exploding market to support the growing senior class driven by the baby-boomers, record number of assisted living options are coming online across the U.S. These risks are not avoidable, and should be known before you get started so you can take steps to reduce them.
Assisted Living homes (a.k.a. Board and Care, Residential Assisted Living, Group Home) are becoming increasingly popular with the expanding number of seniors. Although there is no guarantee to success, a few steps and strategies can help potential owners be more successful.