The Time To Act Is Now!

Timing is critical to your success in life. Are you in the right place at the right time? Since timing is so important, how can you identify and take advantage of good timing?

Now is a great time to get started in residential assisted living, but will you take advantage of this opportunity?

We all will eventually get involved in senior housing in some way, whether needing assistance one day, seeking services for a loved one, or owning the business yourself.

Why not start your own residential assisted living business and make a difference? Gene Guarino of the Residential Assisted Living Academy will teach you how to make the most of this right place, right time investing opportunity.

WHAT MAKES ASSISTED LIVING SO INCREDIBLE?

  • The massive investment potential
  • The massive need for more senior housing
  • That need will be filled by someone, and they will reap the rewards.

Why not make sure that someone is you? The time is now. The moment is now. America’s seniors need you now. While it may not be verbalized across major media outlets, a huge demographic boom is underway. It is the arrival of America’s most populous generation entering senior-hood – the Baby Boomers.

Like everything else amongst Baby Boomers, they are changing the way senior life is experienced. They will have a huge stamp on senior living for the next 20 to 40 years. What is their need? What do they require? Their demand is made with sincere and bold clarity – activity not passivity. The Boomers do not want their golden years to be bronze.

They are determined to avoid traditional nursing facilities. They want to remain engaged with the world around them. They want to be a part of a community, not a facility. Therefore, residential assisted living suits them well.

In residential assisted living, residents live in an actual home. They have housemates that become their extended family. These homes are staffed with professional healthcare workers who meet the needs of the residents in a home environment.

Is this new to you? The concept of residential assisted living is catching on throughout the nation. Why? Because the Boomers want it. However, there is one problem – not enough homes currently exist.

To meet this demand, entrepreneurial minds must consider:

  • Comprehensive Business Plans
  • Financing Strategies
  • Market Analysis
  • Competitive Outlook
  • Timing

Are you up for a challenge that will drastically increase your economic mobility? You are not alone. Align with the Residential Assisted Living Academy.

Your ambition, creativity and motivation are essential to engaging in this business model, but you need education and support.

As you prepare to engage in training with the Residential Assisted Living Academy, here are five questions you should consider:

1. Are demographic trends favorable for a Residential Assisted Living home?

  • What are the demographic trends of the community you are evaluating for a RAL home? Are a significant number of people aging? Is the community a newer community, where young families are moving? Is it common for young families in this community to have their aging parents reside with them? Are corporations in the community experiencing a large number of retirees?
  • You may say to yourself, “I’m not an actuary? I’m not a statistician? Help?” No problem. The Residential Assisted Living Academy is right here. We have the tools to help you navigate this portion of your journey.

2. What is the strength of the local market/economy?

  • Evaluating local business trends will be vital. What has the success rate been in this community for new businesses? Also, what type of businesses thrive in this community? What is consumer demand like in this community?
  • This type of information will help you pinpoint possible locations that are more favorable than others for your new RAL home. Understanding the inner workings of a community propels your success and reduces the time it takes to recoup startup costs. The RAL Academy can help you both understand and complete this type of analysis.

3. What is the Competitive Landscape?

  • Let’s face it. The competition for a residential assisted living home is other assisted living homes. Does your community have any? Are they well run? Finding successfully operated residential assisted living homes really hinges upon the passion and education of the owner. If a residential assisted living home is owned and operated by one of our graduates, you will know this prior to extending time evaluating a community. However, if there is room for growth in that community, we will support your entry into that market.
  • More than likely, your competition will be big box nursing facilities and assisted living facilities. Here, the idea is one-size-fits-all and Baby Boomers do not like them. Therefore, these markets are ripe for picking. Gene Guarino and his team of experienced experts will help you enter these markets successfully and thrive in them. How do we do this?

4. Marketing to the Masses?

  • Do you know the best time to reach potential residents?
  • How to contact key decision-makers and influencers involved in placing a senior in a facility?
  • Learn the best way to reach and maintain communication with those in need of residential assisted living homes.
  • Reaching the customer and their adult children will be of utmost importance. This is not an impossible feat. Your customer is looking for you, therefore finding them won’t be difficult. The needs of these families are evident – the challenge is in helping them make the transition.

The Residential Assisted Living Academy knows exactly how to do this. Our 3-day course and ongoing support will walk with you through each step and help you develop a comprehensive marketing plan.

Are you Ready?

  • The need is present. The customer is ready. The markets throughout America are ripe. Are you ready? Ask yourself the following 6 questions to determine your preparedness:
  1. Are you ready to learn how to lead in a changing industry?
  2. Are you ready to commit to training that will catapult your success?
  3. Do you care about seniors and their needs?
  4. Can you empathize with adult children who are releasing everyday care of their beloved parents to you?
  5. Are you ready to change communities and bring life to those who often think they have nothing more ahead?
  6. Are you ready to take on the most rewarding work you’ll ever do?
  • If you can answer “yes” to any of these questions, the Residential Assisted Living Academy can help you accelerate your process with efficiency. Get ready for the ride of your life.

There is no time better than the present to own and operate a residential assisted living home. Baby Boomers are going to live their senior years somewhere and they have made their needs known. Will you meet them? Will you answer this revolutionary call?

Contact us now and start your journey down the road to financial success.

Top Tips for Your Business Startup

Many believe that when starting a new residential assisted living business, the owner must be an expert in the industry, the truth could not be further. Starting a new residential assisted living business requires the intangible; it requires the elements often regarded as soft skills.

Getting started can be daunting. Setting goals and making plans is only half the journey. Starting a new business requires tenacity. New residential assisted living homeowners must keep the vision and mission at the forefront.

Let’s look at some of those soft skills that make the hard things go better for your new residential assisted living home.

10 TOP TIPS FOR STARTING A SUCCESSFUL RESIDENTIAL ASSISTED LIVING BUSINESS

  1. Passion

Remember the first time you fell in love? No, not that time the other first time. Just joking.

Love draws out of humans a passion that is unmatched by any other affection. The emotion drives us to pursue the one we have fallen headfirst, sometimes literally, in love with. We think about that person night and day. We envision life with this person, children, a dog, a cat, a farm, a penthouse and some other “personal” matters. The point here is the same type of passion we possess with love should be a part of our pursuit of a new assisted living home. It’s more than the building, the regulations, the financing, the contracting, the compliance issues, the staffing challenges. The new residential assisted living homeowner has got to love the business for who the business will serve – seniors. So, the soft skill of passion should be preeminent from the outset.

  1. Money Management

Money management is a soft skill but can create a hard life if you fail at it. To be blunt, keep your day job. Do not allow your passion to make you fall headfirst. You can only live so long without income. Notice, I didn’t say money, but income. You psychologically need to maintain income in order to maintain a clear head. Can doing double duty be overwhelming? Yes. Let me be clear here. It will be overwhelming, but you, as a new residential assisted living homeowner, need to make sure you are able to maintain your current lifestyle while establishing this business. In the long run, you will be grateful you kept your daytime gig.

You need to make sure you can manage your homestead without the stress of losing it. This will certainly compromise critical decisions for the assisted living home. Will you need your job long? No. This business will take off before you know it. The baby boomers are coming, and the sound will be heard in your community soon, if not already. This is why training is so key. You’ve got to hit the ground running immediately. The Residential Assisted Living Academy can help you here. While you are still working, you can learn, grow, and prepare for the coming boom. Our team is here to help you be successful, so contact us today.

  1. Relationships Count

No relationship exists without partnership of some sort. In other words, do not think you can succeed in owning and operating a residential assisted living home without being connected with others. You will need the support, but also the collaboration and exchange of ideas to create an environment where seniors and their families will thrive. The Residential Assisted Living Academy is a key partner in this feat. Reach out to us today and let’s work together.

The RAL Team is a priceless collaborative unit, where no one walks alone. Join us today.

  1. Customer Relations

Baby Boomers should be moving into your new residential assisted living home the day you open it. That’s right. You should have occupancy from day one.

How do you do this? How do you get someone to place their loving parent in your care on the first day of operation? Customer relations do not begin when the business opens, but months prior to its grand opening. Develop good networking skills and learn how to reach those who need you most. The Residential Assisted Living Academy has a training program that teaches the best marketing strategies in the business. We look forward to working with you.

  1. Write the Vision

You need to communicate plainly your vision for your residential assisted living home. Potential residents are not drawn to the fancy bells and whistles. They feel safe at home. So, your why creates the bridge from skepticism to optimism. The RAL Academy helps you foster your why. We have ways of assisting you in translating your compassion into tangible statements. Answering your why not only establishes your clear vision for your business, but also communicates to your potential residents how important their health and safety are to you.

  • Why? That’s what the vision communications.
  • Why are you opening a new RAL home?
  • Why are you focused on senior living?
  • Why do you care about someone else’s parents?
  • Why are you building a RAL home in this particular community?
  • Why? Why? Why?
  1. Read the Research

You could take the time to comb through data on your own. You could very well assess all of the information available before making a decision. However, this method is quite time-consuming. Remember the soft skill of relationships? Well, this is where they come in handy. Take the time to build a working relationship with the right people, people who have already been where you are trying to go. Why forge a new path when you can learn from the experts who have already laid a clear path for you? That’s right, we’ve done it all already. We have collated the data, and we’ve built the systems of success in this industry so that novice and experienced entrepreneurs can get started right away. Contact us today and get the research from professionals much faster and much cheaper.

  1. Build the Right Team

No one is an expert in every discipline. Nor do you have to be. The Residential Assisted Living Academy helps you build the proper professional support team. This process can be challenging for many new assisted living homeowners. That’s because they’ve not taken the time to develop the soft skill of relationship building in this industry. Do you need a good support team? The right kind of accountant for a senior living business? Who do you choose? Do you already know these people? Probably not, but don’t let it overwhelm you. The RAL Academy provides an extended network of professionals to help you succeed. When you are in a relationship with us, our network is your network.

  1. Make Sure the Money Is Lined Up

You can’t effectively go it alone in senior living without facing unnecessary pitfalls. You will need to align yourself with the right investors or partners. This can be frightening to even consider. Simply walking into a bank with your vision will not result in you exiting with the capital you need. The RAL Academy teaches you how to get the right investors to support your capital needs. Do not hesitate. Investors are drawn to people who are well trained in their business. Join us today.

  1. Be Professional

Your persona matters. That’s right, you may need a bit of fashion consulting – just a bit. Seriously, it is important to exude professionalism and confidence. The amenities matter in this area. It may seem unnecessary, but do you want a doctor with dirty hands examining you? I didn’t think so. So, do not expect investors and other professionals to be excited about working with you if you do not meet the basic professional requirements of business owners. We can help you in this area too, even if you think you’ve got it all figured out, and you just need help with some finishing touches. Remember, our network is your network, so let us help you prepare.

  1. Enjoy the Ride

There is nothing worse in business than a miserable business owner. Your residential assisted living home should be a source of joy in your life. Afterall, this business is serving some of the best, yet most vulnerable in our society. Providing senior living and quality care is rewarding, especially in the residential assisted living industry. We have the opportunity to support the hardworking seniors in our communities with care and support delivered with empathy. We dignify aging Americans at a time when people seem to disregard it.

REGISTER FOR THIS FAST TRACK OPPORTUNITY NOW

What does it take to operate a successful residential assisted living home starting on day one?

Join an exclusive live, interactive online event. For the first time, Gene Guarino and his team of experts will be offering their highly acclaimed 3-day training in an exclusive online setting.

This virtual training is designed to allow students to easily maneuver through the comprehensive curriculum to accelerate success. Afterward, participants will possess a roadmap to success in residential assisted living.

Get the Best Answers to Seven Commonly Asked Questioned

  1. What is residential assisted living?
  2. How do I start from scratch?
  3. Are there strategies to buying an existing residence?
  4. How do I find a home, fund a home, and fill a home?
  5. Is it possible to own and operate a residential assisted living home without needing to be on-site?
  6. Will I be able to find the right staff to run a smooth operation?
  7. What are the professional marketing tips I’ll need to know to keep my home filled?

Gene Guarino offers case studies of actual assisted living homes that he personally owns and operates. He will teach you how to analyze the financials by using actual projects. Learn unique strategies about attracting investors, raising capital and funding your deal with or without using your own money.

The Residential Assisted Living Academy provides a systematized method to succeed in a residential assisted living business.
There is no difference between the content of the online and live training. Instead of physically touring 2-3 functional homes, students are virtually guided through a broader range of homes that are fully operational.

Click here to get started setting goals and creating plans for your residential assisted living business.

Can you hear it?

Can you feel the earth quaking beneath your feet?

The baby boomers are coming now. So, do not waste another moment. Contact the Residential Assisted Living Academy today.

Your Start in Residential Assisted Living: Pandemic Business Planning

Residential assisted living offers unlimited opportunities, even during the current pandemic, because the need for senior housing is on the rise. But how do you launch a new successful business while many establishments and industries are suffering due to the pandemic plagued economy?

With more than 10,000 baby boomers turning age 65 every day, and 4,000 seniors turning 85, seniors are continuing to age and need assistance, and the demand for senior housing is growing.

In order to make the most of this opportunity, every current and future residential assisted living business would benefit from a pandemic business plan.

The Residential Assisted Living Academy is helping countless entrepreneurs start new businesses during the pandemic. It is critically important that new assisted living business plans account for pandemic related issues. Fortunately, the proven Residential Assisted Living Academy model for senior housing continues to thrive in this expanding market.

In order to start off on the right foot, new entrepreneurs will need a plan that will stand the test of time.

WHAT IS A PANDEMIC BUSINESS PLAN?

The 2003 SARS outbreak and other pandemics reminded business owners of the importance of having a pandemic plan. Successful businesses strategize plans prior to an emergency by setting forth clear policies for monitoring situations closely. The budget available for contingencies and what commitments the business will make to employees should be considered.

This is what successful professionals call a pandemic business plan.

BASIC COMPONENTS OF PANDEMIC BUSINESS PLANNING

It’s important to understand how pandemics affect the economy, in order to overcome the obvious obstacles.

Advance planning can decrease business disruptions and the financial impact of a potential pandemic. There are 8 basic components of a successful pandemic business plan that must compliment your routine approach to business.

  1. Critical Systems
  2. Communication Systems
  3. Security Procedures
  4. Preventive Measures
  5. Developing Guidelines
  6. Workforce Flexibility
  7. Continuity
  8. Workplace Safety

Threats to businesses during sudden unexpected changes in markets include business travel restrictions, decreased transportation options for goods, hindering on-location work by employees, and decreased sales. However, businesses can proactively prepare for these potential changes and adapt quickly.

Advance planning can decrease business disruptions and the financial impact of a potential pandemic.

  1. Critical Systems

Analyze existing systems to identify critical business processes to keep the business functioning. Examples for your residential assisted living home can include payroll, personal protective equipment, customer service, staff precautionary measures, and practices for continuing quality care. For each critical system, build an alternative method of delivery in the event of a pandemic.

  1. Communication Systems

A pandemic business plan should include a communications program. This program should allow messages to go to your staff despite the possibility that everyone may not be able to access your assisted living home. Investors and stakeholders should also be kept informed to reduce panic. Build a communication system that allows for remote communication with employees and residents during any disruption in normal communication modes. Place an online system on your website that allows employees to access from home and families to stay connected when visitations are not safe. If you prefer, make certain areas on your site password protected to control the flow of information to akey groups. Caregivers, staff, investors and resident family members should be notified of this pandemic communication information.

  1. Security Procedures

Develop security procedures that outline access requirements to your residential assisted living home during a pandemic. Create scenario-based procedures that require different levels of lockdown. Family members should be made aware of security procedures during the tour of your assisted living home. This also acts as a bonus selling point, as families will see how committed you are to the safety and health of their loved ones.

4. Preventive Measures

Purchase a reserve of protective masks and thermometers to use in pandemic-like situations. For highly sensitive businesses, such as hospitals and residential assisted living homes, protocols must be set in place for the building entrance. Monitoring visitors could prevent the entrance of anyone with a temperature or showing signs of illness. This can ultimately help protect residents and employees from the spread of communicable disease and pathogens.

  1. Developing Guidelines

Top management should disseminate guiding principles they will use in the event of a pandemic. These should include the level of care your residential assisted living home will provide residents and employees. Systems that lay out the standards of care and safety for your residents and employees. And again these systems can be shared with potential residents and will give peace of mind to their families.

  1. Workforce Flexibility

Pandemic planning may involve putting flexible working systems into place. Businesses may need to change their policies on flexible work schedules and absenteeism. Some staff, caregivers, and management may also need to be able to cover for one another’s positions. So making sure that staff understand the responsibilities of other employee’s roles will ensure a more seamless transition when unforeseen changes occur.

  1. Continuity

In the event of a pandemic, there may be shortages of raw materials and supplies. A pandemic plan should take into account how these shortages will be dealt with. Establish the amount of materials needed to be in stock to keep your residential assisted living business running at an acceptable level. The United States’ government pandemic website suggests all businesses prepare continuity plans detailing how they can keep their business operational.

  1. Workplace Safety

The Occupational Safety and Health Administration suggests that business pandemic planning should include ways to safeguard the workplace from disease transmission. Residential assisted living businesses should set out in advance the engineering and administrative controls they will use in the event of a pandemic. Engineering controls may include erecting physical barriers between staff and residents, or may include sectioning off certain areas and the installation of sneeze guards and similar structures.

AN OPPORTUNITY YOU WON’T WANT TO MISS

Regardless of where you are on the path toward success in the residential assisted living industry, the Residential Assisted Living Academy is here to guide you. Our instructors are experts in the field who have built and grown their own residential assisted living homes with our unique and proven system.

What does it take to operate a successful residential assisted living home starting on day one? There’s no need to be scared of starting during COVID. Just set yourself up for success with the right resources, the right people and the right plan.

Join an exclusive live, interactive online event. For the first year ever, Gene Guarino and his team of experts will be offering their highly acclaimed 3-day training in an exclusive online setting. This virtual training is designed to allow students to easily maneuver through the comprehensive curriculum to accelerate your success.

Afterward, participants will possess a roadmap to success in residential assisted living.

Get the Best Answers to Seven Commonly Asked Questioned

  1. What is residential assisted living?
  2. How do I start one from scratch?
  3. Are there strategies to buying an existing residence?
  4. How do I find a home, fund a home, and fill a home?
  5. Is it possible to own and operate a residential assisted living home without needing to be on-site?
  6. Will I be able to find the right staff to run a smooth operation?
  7. What are the professional marketing tips I’ll need to know to keep my home filled?
  8. How to create a pandemic proof business plan for the assisted living industry?

Gene Guarino offers case studies of actual assisted living homes that he personally owns and operates. He will teach you how to analyze the financials by using actual projects. Learn unique strategies about attracting investors, raising capital and funding your deal with or without using your own money.

The Residential Assisted Living Academy provides a systematized method to succeed in a residential assisted living business.
There is no difference between the content of the online and live training. Instead of physically touring 2-3 functional homes, students are virtually guided through a broader range of homes that are fully operational.

Click here to get started setting goals and creating plans for your residential assisted living business.

Entrepreneurs, Don’t Get Left Behind

What makes investing in Residential Assisted Living so special? Why are people flocking to this industry as a means to create generational wealth?

While markets fluctuate at the slightest of domestic and international news, one market is constant. The sheer population of baby boomers make investing in residential assisted living one of the few viable options for savvy investors.

Here are 4 reasons why investing in residential assisted living is optimal in the senior living market:

  • Seniors, in particular the baby boomers, refuse to accept traditional senior living as their only option.
  • Seniors who need support, but not yet care for Activities of Daily Living
  • Comfort families experience when placing their beloved senior in a residential assisted living home versus a skilled nursing facility
  • The demand for a home away from home.

How do you get involved? How can you successfully own and operate your own residential assisted living home? It starts with attending the Residential Assisted Living National Convention 2020.

Like all things 2020, this year’s convention will be virtual – leading experts have provided input and insight to make this convention a transformational experience from the comfort of your own home or office.

SOME INTERESTING FACTS

The Silver Tsunami is real. Just a quick glimpse at the numbers reveal an astonishing number of seniors who will need assisted living and senior housing.

  • More than 10 thousand baby boomers turn 65 years of age daily.
  • About 4 thousand seniors turn age 85 daily.

The Residential Assisted Living National Convention will address nearly every topic associated with servicing this massive population of seniors. This population is unlike any other America has ever seen.

HOW THIS EVENT CAN LAUNCH YOUR ENTREPRENEURIAL EXPERIENCE TO THE NEXT LEVEL

The Residential Assisted Living National Convention 2020 will benefit new entrepreneurs, as well as existing investors. Here are just a few perks you will experience:

  • Strong network of like-minded professionals.
  • Experiential learning from industry experts.
  • Gain insight from entrepreneurs across the nation, who have built their residential assisted living businesses with the RAL Academy model.
  • Build connections with industry leaders, experts, and support service companies.
  • Connect with others that will help your business meet the needs of your residents.

The Residential Assisted Living National Convention 2020 is the place to be. This is why you should register today. It is the annual rally point that allows interested entities, entrepreneurs and industry experts to assemble as part of the senior housing solution.

Top 12 Hot Topics

  1. Marketing Strategies for Occupancy Alleviation
  2. Funding For Your Business
  3. Leveraging Senior Relocation Agencies
  4. Municipality Maneuvering
  5. Human Resources Management Strategies
  6. The Role of the “Hands Off” or Silent Investor
  7. Asset Protection Strategies
  8. Tax Mitigation
  9. Resident Medication Management
  10. Emergency Preparedness and Management
  11. Insurance(s) for RAL homes
  12. Value-added strategies

This 3-day annual event is set to launch, packed with excitement, social networking with digital happy hours, and a laundry list of exciting, interactive and informative topics. Come with the expectation to receive cutting edge industry specific information making investing not a gamble, but a knowledgeable investment.

Get into this groundbreaking industry now.

2020 – THE YEAR OF CLEAR VISION

Difficult times can only be navigated by clear vision. The benefits of clear vision are numerous. Here are three prevailing reasons:

  1. Unifying: A clear vision provides a gathering point for common interests that makes everyone feel connected to the greater whole. Clear vision defines a deeper meaning for the work, while unifying workers as team players focused on the vision of caring for our nation’s seniors with excellence.
  2. Inspiring: A clear vision is powerfully inspiring. It imbues a motivational effect on everyone within the group. Clear vision creates the kind of energy, enthusiasm and commitment that fosters change. It produces persistence during difficulties that remind you of why you started in this incredible industry.
  3. Focal Point: Focus provides a greater sense of direction for goal setting and business planning. Having a focal point guides your decision making along the way.

KEY STEPS TO DEFINING YOUR COMPANY VISION

Here’s how to deliver your amazing vision to your staff:

  1. Be Positive: Vision based on fear can limit your results.
  2. Be Specific: A vision should be short, detailed and directional.
  3. Be Ambitious: Dream big. A good vision sets standards that force your business to stretch.

Have no fear. Be bold and courageous. The staff will follow and emulate your strength, which will bring a great deal of comfort to your residents.

THE RESIDENTIAL ASSISTED LIVING INDUSTRY IS RAPIDLY EXPANDING

The industry is growing because the population is growing. Baby boomers are mandating their aging process be like their coming of age process: bold and fearless. They do not want to be admitted to a nursing home and they are yet vibrant. They want to age on their own terms.

Therefore, the opportunity for entrepreneurs, lenders, investors, equipment suppliers and support service providers grows daily. The Residential Assisted Living National Convention has been enhanced to allow participants more access to more people of renown in this industry. This makes for a far more personable experience, but also an invaluable learning experience, especially for entrepreneurs that are new to the industry.

Time is running out, and this is why we are urging you to register today for this annual event.

Don’t let 2020 end the way it started.

ATTEND THE VIRTUAL RESIDENTIAL ASSISTED LIVING EVENT OF THE YEAR

The Residential Assisted Living National Convention 2020 is a virtual experience of the year for entrepreneurs, investors, vendors and homeowners. That’s right, you can enjoy and participate in the convention from the comforts of home, if you like.

Here are some virtual advantages and unique features of this event:

  • More speakers, more professional tips, more excitement, and more opportunities for attendees to easily connect and network.
  • Virtual attendees will gain access to every single keynote presentation and educational breakout sessions.
  • A complete directory of every speaker, sponsor and exhibitor highlighted on a 3-day schedule with information and training materials.

This is one virtual event that is strategically designed to build successful industry owners, operators and investors. Do not hesitate to join the entrepreneurs, investors, owners, vendors, marketing experts and so many others who will fuel the industry with the resources needed for success.

Residential assisted living is the biggest investment opportunity in real estate, and this is the best time ever to grow your business.

Click here the Residential Assisted Living National Convention 2020 to register today.

Why Residential Assisted Living is the Best Choice for Seniors

There are seven proven reasons why residential assisted living is the clear choice for senior safety and happiness.

Highlights of retirement are relief of schedules, time with children, paid off mortgages and the like. It is supposed to be a time where all of the travel one desired to undertake becomes a blissful reality.

However, life seldom goes according to plan. Far too often, seniors in America find themselves unable to exist safely by themselves. For many, health deteriorates leaving them vulnerable to a plethora of situations. When vulnerability is realized, adult children begin having difficult conversations with their aging parents.

Residential assisted living helps these families overcome the nightmarish realities frequently associated with big box senior living and nursing homes.

As a result, investing in a Residential Assisted Living home is optimal. The Silver Tsunami of Seniors will continue saturating the country for the next 20 years or so. Residential Assisted Living benefits baby boomers the most, because they are able to experience life as they want it.

Let’s consider seven benefits of Residential Assisted Living that afford seniors with the opportunity to age with grace and dignity.

SEVEN BENEFITS OF RESIDENTIAL ASSISTED LIVING

  1. Senior Social Interaction

There is an upward spiral of depression amongst seniors who experience feelings of loneliness. If this is not alleviated, high blood pressure and premature mortality occurs. Seniors can feel trapped in their own homes. Prevent loneliness by engaging seniors in safe programming that suits their needs with opportunities in Residential Assisted Living homes.

To learn more, visit the Residential Assisted Living Academy for informative details.

  1. Intellectual Stimulation

Living among other vibrant seniors is intellectually stimulating. Even during the pandemic, many RAL homes are offering a variety of ways for residents to engage in positive interchange. Hallway book clubs, online trivia games, TedTalks and Zoom chats are being utilized in many Residential Assisted Living homes. By maintaining intellectual stimulation, cognitive decline is less of an issue. This is yet another reason why the RAL home is preferred by many investors seeking to do good and do well.

  1. Senior Safety

Falls are the leading cause of fatal injury and the most common cause of nonfatal trauma-related hospital admissions among older adults. As a result, one of the leading reasons a senior is placed in a facility is due to a fall. Falls result in more than 2.8 million injuries, over 800,000 hospitalizations, and more than 27,000 deaths annually. Even still, so many big box facilities are unable to adequately monitor seniors to prevent falls. In this respect, smaller is better, and caregivers are able to help prevent falls in residential assisted living homes.

Residential Assisted Living homes offer personalized attentive care, which causes the number of falls to decrease drastically in comparison to big box facilities. Falls are a leading indicator of how well a facility is operating – RAL homes have very low fall incidents. As the population continues to age at a rapid rate, this indicator will increasingly become a focal point.

This is why this is the best time to invest in the RAL industry. Safety is the absolute most important aspect of assisted living.

  1. Fitness and Physical Activities for Seniors

The body is made to move. This is no surprise; yet, so often movement is unexpected of seniors. This could not be more damaging. Seniors who are physically active live longer healthier lives. In Residential Assisted Living homes, exercise is not just a scheduled activity, but a way of life. Investment in a RAL home is not just a great monetary opportunity. It is also an active investment in the heart and soul of America.

Listen to other investors share their thoughts on investing in a RAL home.

  1. Chef-Prepared, Nutritious Meals

Who wouldn’t want a “Top Chef” to prepare personal meals for them daily? In residential assisted living homes, a chef prepares meals, even for those who have dietary restrictions. Personalized meals prepared by professionals enhances the nutrition of the residents as they are filled with anticipation at each meal. In addition, seniors who try to cook for themselves often struggle. It’s rather difficult to cook for one person and then sit and eat alone.

This service really separates the Residential Assisted Living from the big box facilities, which make meals cafeteria-style to accommodate such large populations of people.

  1. Maintenance-Free Lifestyle

Maintaining a home is stressful for younger adults, and that responsibility is even more cumbersome on the elderly. It’s not only an emotional strain, but an unbearable physical strain. It also becomes more expensive as some services must be contracted to professionals.

The Residential Assisted Living home gives the resident a place to call “home,” without the stress of maintenance. They have a porch, backyard, garden, grill, bedroom, kitchen and all the other additives without the burden of caring for them. It is the best of both worlds. Investing in a RAL home helps those most in need of such care. The Baby Boomer demographic will demand this type of lifestyle. They want the home without maintenance.

Learn more today about investing in a RAL home.

  1. The Need for Help with Activities of Daily living

Many seniors need help, and some need more than others. Did you know nearly 80% of help with activities of daily living (ADLs) is delivered by unpaid family members? Many of these family members are maintaining households themselves and working jobs on a daily basis. The chronic care of a loved one, especially Mom or Dad, is not a task many family members depart with easily but after time they recognize they cannot maintain the demands of each much longer. It is at this juncture that conversations are had about living outside the home. While unwelcome at first, the reality begins to settle with seniors that they need help.

What better place to go than to a place similar to your own home? The Residential Assisted Living home is the best option to receive the chronic care necessary in a home-like atmosphere. Investing in a RAL home is investing in the dignity and honor of seniors. They want to reside in this atmosphere and their families want them to reside there also. What’s missing? That answer is simple, the demand is present, but the industry needs more investors to create additional residential assisted living homes in the United States. Learn how to invest in this growing industry.

Contact the experts at Residential Assisted Living Academy and get started today.

WHY INVESTING IN RAL HOMES IS A SECURE WIN

Investing in a Residential Assisted Living home, or for the seasoned investor, building a portfolio of RAL homes is one of the most secure profitable options on the market today. Demographically, the numbers favor the investor who chooses the RAL industry, because the health of the aging Baby Boomer is better than generations before them.

Additionally, the preferences of this generation demands facilities similar to the homes they have purchased and aged in gracefully. After careful examination, it is clear that residential assisted living homes are ideal for those Baby Boomers entering retirement but need support.

Boomers raised active competitive children who are deeply engaged in career building, family life, and obtaining financial security. The hours spent working and caring for family do not leave many hours for an aging parent – sad but true. Also, many are not skilled in taking care of aging parents in need of support with activities of daily living. Who can help them? You can help them.

Learn more about investing in a RAL today. The need is increasing day by day – Invest today.

Formulating a Strategic Business Plan

Learning to be more selective about your business decisions allows entrepreneurs to do fewer things much better. The mere reality that time is measured creates the understanding that time will come to an end. Time is not infinite – it is impartial. It is to this end, that people take time so seriously.

As you seek to open your first residential assisted living home, your personal time is of the essence. Your time must be leveraged appropriately so that you can maximize your business experience.

Do Fewer Things Better

In order for your time to be fully leveraged, you must know what you do well and what you do not do well. Be honest with yourself.

Ask yourself the following questions:

  • What am I most and least passionate about?
  • What things must I do in order to ensure my business is well operated?
  • What things should be delegated to management staff?
  • What type of leadership style will best work in my business?

Once you are clear on these questions, you can formulate a detailed, realistic strategic plan. A strategic plan will protect your time. It is the barometer of your activity and will keep you focused on what you need to do at all times. Conversely, it will remind you of what you need to avoid investing your time into.

Start by deciding what matters most. While this is easier said than done, it absolutely must be a guiding principle in your operation of a residential assisted living home. Remember, your time must be protected.

Guidelines for Formulating Your Strategic Plan

  • Make a specific prioritized list, starting with a low-level uncomplicated concept that is mission and vision focused.
  • Learn to say, “no,” understanding that your time is precious, and never settle for “good enough” – you will also find yourself happier and healthier.
  • Fight the fear of missing out, which is rooted in greed – be disciplined.
  • Be super-careful not to divert frequently with recurring commitments that will derail your plans.
  • Prune prior commitments because time management dictates success.

Always be aware of the difference between what feels good vs. what does the most good. Don’t favor what feels good – favor what does the most good. If you are going to own and operate a successful residential assisted living home, your time must be garnered for those activities that matter most.

To learn more about the 3-day training to learn everything about owning and operating a residential assisted living home, click here.

Residential Assisted Living is an industry disruptor. What Airbnb did with Hotels, and Uber did it with the Taxi industry, RAL is doing within Assisted Living.

The Advantages of Working With a Dream Team

Work with The Best People You Can

During the 1988 Olympic games, the Russians defeated the U.S. basketball team. It was considered a colossal nightmare considering that Americans invented basketball.

In 1992 a change of course was put in place. No longer would America send amateur athletes to face professionals.
We assembled “The Dream Team.”

Assembling the proper “Dream Team,” takes a particular degree of insight into what makes teams operate effectively.
Having a residential assisted living dream team allows you to help other people. This industry is not driven by greed, rather providing the best care in the industry and impacting seniors and their families positively.

Below are seven key steps to take when assembling and managing your residential assisted living “Dream Team.”

7 STEPS TO BUILDING THE TEAM YOU NEED TO START YOUR BUSINESS

Most new entrepreneurs prefer to work alone – they like autonomy and independence. However, this is contrary to what it takes to be successful as an entrepreneur.

It’s not a lone walk, but a collaborative one.

It takes collaboration, synthesis, and harmony among a core group of people to make a residential assisted living home a viable business. Team building requires a concerted effort to operate as one with many parts. Teamwork is understanding and appreciating the contribution others make for good for the whole of the team.

The following are Seven Steps to Building Highly Effective Teams. Adhering to these steps will ensure your residential assisted living home operates in a spirit of excellence.

  • Your vision must be supersized, but milestones are like three-point shots that should be celebrated.
  • A shared purpose energizes a highly functional team to dig deep and wide.
  • Team effort demands a collective contribution, involvement and connection.
  • Break the institutional barriers of systems and processes that hinder processes.
  • Identify and create a winning culture of subject matter experts collaborating beyond expertise.
  • Ensure that the team embodies a common definition of success and exude confidence in the vision.
  • Foster solid and respectful relationships amongst teammates where professionalism is integrated with personal life.

TIPS TO BUILDING YOUR DREAM TEAM

When the Russians met the Americans in the 1992 Barcelona Olympic Games, they encountered a dream team:

  • Michael Jordan of the Chicago Bulls
  • Scottie Pippen of the Chicago Bulls
  • John Stocken of the Utah Jazz
  • Karl Malone of the Utah Jazz
  • Magic Johnson of the Los Angeles Lakers
  • Larry Bird of the Boston Celtics
  • Patrick Ewing of the New York Knicks
  • Chris Mullin of the Golden State Warriors
  • David Robinson of the San Antonio Spurs
  • Charles Barkley of the Philadelphia 76ers

This Dream Team taught the Russians how basketball is played by men who function as team players.

Visit RALAcademy for professional tips and blogs on how to build a professional dream team to ensure the success of your residential assisted living business.

Getting Your Start in Assisted Living Has Never Been Easier

Setting goals and creating plans are sure signs of successful entrepreneurs seeking to get involved in the residential assisted living industry.

How would you like to start and run a business that earns $10,000 net cash flow per month – for life?

Instead of the come and go nature of fix-and-flip or the unpredictability of buy and hold, your business serves high quality, low impact residents who are in need of finding appropriate housing.

Every day for the next 20 years, 10,000 baby boomers will turn age 65, and this silver tsunami of seniors will rapidly increase the ongoing need for assisted living. Mapping out a plan to get involved in this industry now is a no brainer. So, how can you get started?

The Residential Assisted Living Academy recently created a new online training to help you accomplish your goals faster.

The virtual 3-day training is a complete A-Z comprehensive online training that outlines the step-by-step path to owning, operating and investing in residential assisted living.

What Can You Expect to Learn from Virtual Training at the Residential Assisted Living Academy?

  • How to start, own, operate or invest in your very own Residential Assisted Living Home
  • The 3 best opportunities in residential assisted living whether you have experience or not
  • The 5 keys to being successful in residential assisted living and the mistakes you must avoid
  • The 10-step formula to get started fast and get you to the finish line quickly
  • How to own and work “on” your business and not “in” it
  • How you can be hands off spending just 5-10 hours a week or less
  • The residential assisted living 3-Legged Stool and how to use it when structuring your business
  • How to scale and leverage the residential assisted living formula to create your “3 Pack” in 24 months or less
  • And so much more

Click here for your virtual 3-Day Invite.

REGISTER FOR THIS FAST TRACK OPPORTUNITY NOW

This is an exclusive live, interactive online event. For the first time, Gene Guarino and his team of experts will be offering their highly acclaimed 3-day training in an exclusive online setting.

This virtual training is designed to allow students to easily maneuver through the comprehensive curriculum to accelerate your success.

Afterward, participants will possess a roadmap to success in residential assisted living.

Get the Best Answers to Seven Commonly Asked Questions

  1. What is residential assisted living?
  2. How do I start one from scratch?
  3. Are there strategies to buying an existing residence?
  4. How do I find a home, fund a home, and fill a home?
  5. Is it possible to own and operate a residential assisted living home without needing to be on-site?
  6. Will I be able to find the right staff to run a smooth operation?
  7. What are the professional marketing tips I’ll need to know to keep my home filled?

Gene Guarino offers case studies of actual assisted living homes that he personally owns and operates. He will teach you how to analyze the financials by using actual projects. Learn unique strategies about attracting investors, raising capital and funding your deal with or without using your own money.

The Residential Assisted Living Academy provides a systematized method to succeed in a residential assisted living business.

There is no difference between the content of the online and live training. Instead of physically touring 2-3 functional homes, students are virtually guided through a broader range of homes that are fully operational.

Click here to get started setting goals and creating plans for your residential assisted living business.

The RAL Opportunity With Memory Care

BOOM! The captivating sound of the coming generational tsunami of seniors as it rolls upon the shores of the United States. The Baby Boomers are aging, and the statistics are showing the needs of the massive ground shakers.

It is estimated that nearly 70% of the Baby Boomers will require long-term care at some point. Some estimates say nearly 68% of these Boomers will experience some degree of cognitive impairment while in long-term care.

What does this mean? What clearly needs to happen to support these individuals? Their families? Our nation?

The need for memory care must be a foremost focus on the senior living industry. Is it? Now is the time for those seeking a meaningful investment opportunity to seize the moment.

WHAT IS MEMORY CARE?

A memory care community is a residential care home that is designed specifically to meet the needs of people who have Alzheimer’s disease or other dementias.

Residential assisted living homes that provide memory care are devoted to memory care and have highly trained staff to attend to the needs of this sensitive population.

The overall goal of memory care is to:

  • Reduce symptoms associated with progressive decline:
  1. Aggression
  2. Anger
  3. Depression
  4. Suspicion

While the prevalence of cognitive impairment continues to increase, the ability or quite frankly the interest of many existing facilities ignores the necessity for specialized care. Therefore, it is the aim of a visionary, the one who can see an impending circumstance, to make adequate investment to support the needs of others. And as it is often said, to the victor go the spoils. The profit is and will continue to be well worth the investment.

A Residential Assisted Living home has the capability to uniquely meet the needs of memory care residents more so than big-box facilities.

The RAL home can adjust to the progressive nature of memory care patients in a way that larger facilities are unable to achieve.

The investor who has vision and compassion for this growing population of seniors should be well prepared. Seek support and training from the Residential Assisted Living Academy and learn how to get started today.

WHY INVEST IN A RESIDENTIAL ASSISTED LIVING HOME WITH MEMORY CARE?

Aside from being a great business, owning and operating a RAL is validated by the sheer statistics.

  • Presently, nearly 60% of nursing home residents have moderate to severe cognitive decline.
  • Over 40% of current nursing home residents have a diagnosis of dementia.
  • Between 15 – 17% of nursing home facilities offer beds/units specifically for dementia care.

With statistics like these, the need is obvious. It is not that big-box facilities do not want to assist these types of residents.

The opposite is true.

Many enhance security measures, group dementia residents together in a particular hall, if a unit is not available, and even train certain staff to accommodate their needs.

However, these are attempts, retrofitted plans, not a concerted effort to formalize care that enhances the resident’s quality of life.

A RAL home can easily make memory care a focus. A RAL home can go beyond security, accommodations, or specialized training for select staff.

Residential assisted living can establish the optimal environment, one conducive for truly caring for and meeting the needs of boomers experiencing cognitive decline. A RAL home can offer the degree of care and therapy for memory patients that is superb.

The services can be:

  • Meaningful activities that promote memory retention
  • Therapy pets that enhance emotional stability
  • Musical entertainment or the opportunity to make music
  • Gardening of all sorts
  • Simple tasks and activities that help combat the progressive cognitive decline

These activities and many others are easily instituted in a RAL home as opposed to a big-box facility.

The RAL owner is on the cutting edge of memory care for the coming BOOM.

WHAT SHOULD YOU KNOW ABOUT MEMORY CARE?

The overall cost of memory care is astronomical for a family. Costs range between $1,500 a month to $9,000.

The range is contingent upon the type of care required from part-time daycare to full-time housing. It is also dependent on whether the full-time housing is a private room accommodation or a shared one.

Why is this important?

The potential RAL homeowner and operator should know that these figures undergird the financial revenue potential of a home. In other words, depending upon how many residents can be safely accommodated in your home, the revenue generated could be nearly $9,000 a month per resident, if your home is focused on memory care.

While many families attempt to accomplish optimal care in their home, the decline in activities of daily living can be devastating.

Injuries, damage, hygiene, hoarding, and security are results of an attempt to care for a dementia patient by nonprofessionals.

Here is the opportunity for the RAL owner – provide families with a home, not a facility, in which their beloved senior, challenged by memory decline, can age safely and dignified. The best facility able to accomplish this is no facility at all. It is the specific role of the RAL home.

What are the results of a dementia-resident in an RAL home?

  • A higher quality of life
  • Less likelihood of tube feeding
  • Less use of physical restraints for patients
  • Less use of antipsychotic medications
  • Improved medical care for other health issues.

Are you ready to explore the investment opportunities of a memory care focused RAL home for the BOOMERS? Consider the following 5 steps when in preparation for extensive planning.

  1. Care Coordination specified to adequately support memory residents.
  2. Staff Competency in every aspect of operation for memory residents.
  3. Specific Activity Programming for memory residents.
  4. Behavior Management that is constructive for memory residents.
  5. Safe Environment with Significant Support that advances the quality of care for residents with memory challenges.

Learn how to build a RAL home that is focused on providing memory care support for the coming Boomers.

MEMORY CARE ENVIRONMENTS

The RAL home that optimally delivers dementia care maintains an environment indicative of the needs of such residents.

Memory care residents have a different set of needs. They are vibrant, active, and in need of exercise.

Secondly, dementia residents struggle with sleep. This is called Sundowners Syndrome. Therefore, exercise is very important to help ease this issue.

Lastly, dementia residents need significant support with activities of daily living, initially with higher-level functions such as:

  • Paying bills
  • Meal Preparation
  • Driving and Navigation
  • Maintaining conversation

They also need support as time progresses with Activities of Daily Living (ADLs)such as:

  • Hygiene
  • Toileting
  • Eating

Therefore, a RAL home should offer the following enhancements to ensure the best care possible for a memory resident.

  • Community spaces that are welcoming for socializing, with clear opportunities to seek privacy if needed.
  • The option to personalize a resident’s space with photos or other memorabilia.
  • A space that is easy to navigate, with signs or numbers that let residents know where everything is.
  • Exit doors that are camouflaged to limit wandering or trying to leave.
  • Low-contrast flooring to limit agitation.
  • Adjustable lighting, with options that closely match natural lighting.
  • And many other specific considerations.

ASSISTED LIVING COSTS VS. MEMORY CARE COSTS

The RAL homeowner with a home focused in memory care stands the chance to generate a significant amount of revenue.

The residential assisted living community typically charges a base monthly rate, which generally covers rent, housekeeping, some transportation, and daily meals.

The memory care focused RAL charges for these services in addition to everything associated with caring for the patient’s dementia needs.

Assisted living costs range between $3,000 to $7,000 per month. While this may seem sizable, the memory focused RAL charges this amount in addition to all the services and accommodations associated with caring for memory challenged residents.

Memory care can peak at $10,000 to $13,000 a month depending on the RAL home, staff, and location.

The range is indicative of the increasing need for additional services, which accompany the worsening of dementia.

In essence, memory challenged senior living is normally a 20-30% increase above a traditional residential assisted living resident and this provides an incredible opportunity for those who want to begin investing in this amazing industry.

HOW TO GAIN THE GREATEST SUCCESS FROM YOUR RAL HOME

Will you be a part of the Boom or miss this explosive residential assisted living opportunity?

As noted above, RAL homes can gain greater success when they focus on memory-challenged residents in a smaller environment.

Furthermore, a family will receive a better quality of care in a residential assisted living home focused on memory care than a big box facility.

The quality of care is incomparable.

Learn more about the RAL industry and what it takes to make this a profitable business. The Residential Assisted Living Academy is here to support you today.

RAL Startup Tips: Making Life Easy with Invoicing Software

It is incredible to know that most people are uncomfortable with requesting payment from another individual. The money is rightfully owed, sometimes deferred in its receipt, yet the legitimate debtor is bashful to ask.

This is also true with residential assisted living homeowners. The money can be owed, the expenses of caring for a resident spent, and yet so many businesses struggle to request payment for services rendered. Why?

It is the hope of all service personnel that those in receipt of their services relish and respect them for delivering said service. As such, service professionals, who tend to lead with their heart, hope their blessed recipients will simply pay them accordingly. Not so.

We will explore some of the most efficient ways and methods to request, collect and keep track of residential assisted living payments. Many who start out in residential assisted living need assistance in this area. It is vital not only to the operation of the business, but it also helps with record keeping for tax purposes.

BEST BILLING AND INVOICING SOFTWARE

Collecting payments from clients and customers can be challenging. Without an effective invoicing system. It can also create serious cash flow problems for your business. However, this is an unnecessary problem.

Mailing invoices through the US Postal Service is an antiquated method. It is also one that has proven to be unreliable, depending on the number of invoices mailed, it can become very costly.

For RAL owners, billing and invoicing software can simplify your payment collection process. How so? It is proven that electronic invoicing has a much higher reception and collection rate than the postal service. Payments are received quicker, and the software provides residents and their family a variety of ways to pay.

Some of the most beneficial software comes equipped with features such as:

  • Follow-up messaging
  • Expense management
  • Receipts generation
  • Tax management intelligence

These tools can simplify your accounting system and make it easier to track receivables without the discomfort of demanding payment for services rendered. Also, by using an online billing solution, it adds a level of professionalism to your business.

The families of residents respect your operation when they see the enhanced tools utilized to operate your RAL. Besides, it is simply an altogether better level of service for not only the resident but for those who may have control of the finances of your resident.

THE TOP 7 BEST BILLING AND INVOICING SOFTWARE

The selection of an appropriate billing software can be crucial to your future RAL business. The software chosen must resemble the quality of care rendered in your home. (The RAL Academy does not specifically endorse any of the companies mentioned, we have simply compiled a list of the most popular options out there to get you started.)

Below are 7 choices that are slightly different and share some similarities that may very well “make the cut” upon completing your research.

  • Fresh Books
  • Xero
  • Zoho Invoice
  • Wave
  • Square
  • Invoicely
  • Sunrise by Lendio
  1. FreshBooks: The most popular billing and invoicing software.
  • Starts at $15
  • Online payment capability
  • Automated billing tools
  • 50% off the first 3 months

FreshBooks is an all-in-one tool for invoicing and accounting software. It’s a top choice for small businesses, self-employed individuals, firms, agencies, and consultancies. The cloud-based software is trusted by more than 24 million people in different industries and pairs well with residential assisted living businesses.

It’s easy to create a professional invoice in just a few seconds. Just use the invoice generator to choose a template, add your logo, and personalize an email. One need not be a technologically advanced photoshop specialist.

FreshBooks has an integrated payment solution as well. All major credit cards are accepted and ACH payments are an option for quicker receipt of payment.

Another top feature from FreshBooks is the ability to collect deposits as a flat amount or percent of the total invoice. Sometimes, RAL bills can be a challenge for families, so deposits against an outstanding invoice are a nice feature.

Use FreshBooks to customize payment terms, add due dates, automatically calculate taxes, and so much more. As an all-in-one accounting solution, you’ll also have tools for time tracking, expenses, payments, projects, and reporting.

  1. Xero: Commonly referred to as the best invoicing software for small businesses.
  • Starts at $9
  • 800+ integrations
  • Automated recurring invoices
  • Send bulk invoices
  • Automatically set up repeat invoices
  • Send bulk invoices
  • Mobile invoicing
  • Instant payments with “Pay Now” button
  • On-charge billable expenses
  • Replicate previous invoices

Xero is another all-in-one accounting tool designed for small businesses. As cloud-based software, it’s easy to manage your invoices and financials from anywhere.

Creating professional and personalized invoices is simple. Choose a template, add your branding, upload your logo, and you’re ready to start sending professional invoices to clients.

  1. Zoho Invoice: Best known for their Automation Features.
  • Free for 5 customers
  • Starts at $9
  • Workflow automation
  • 30 day money back guarantee

Zoho Invoice is a cloud-based software that allows you to create professional invoices, send payment reminders, and get paid quickly online. Nothing new here.

However, unlike some of the other tools on our list, Zoho Invoice is not an all-in-one accounting solution. But Zoho has everything you need to automatically send and manage your invoices online.
Zoho Invoice has an extensive catalog of invoice templates for different categories, including retainers and estimates.

It’s easy to create detailed invoices with custom fields while staying organized and emulating professionalism. You’ll also be able to manage all of your company’s tax compliance with the appropriate tax charges on every invoice.

One of my favorite features of Zoho Invoice is the recurring billing profile. It’s easy to set up automated payments for repeat customers.

This is ideal for RAL owners. Zoho will even let you know when clients have viewed an invoice, so you won’t have to guess if it was received. This is nice. It’s amazing how many people “did not receive your invoice.” This alleviates the floating invoice problem.

In addition to basic billing features, you’ll also benefit from tools for managing payments, time tracking, and expenses. Simply integrate with your payment gateway to get paid online.

Depending on your experience in the industry and software utilized by your accountant, this could be ideal for your residential assisted living business.

  1. Wave: Best Free Billing and Invoicing Software
  • Free unlimited invoicing
  • Integrated payment processing
  • Recurring billing
  • Tax calculations
  • Invoice in any currency
  • Send estimates
  • Turn estimates into invoices once approved
  • Follow-up with overdue accounts
  • Automatic payment reminders
  • Recurring invoices
  • Drag-and-drop line items
  • Custom payment terms
  • Automatic tax calculations
  • Track partial payments
  • See when invoices were viewed
  • Cash flow insights

Wave is a 100% free billing and invoicing solution. It’s a great option for freelancers, entrepreneurs, and small businesses that want to improve their billing procedures.

With Wave, you’ll be able to create and send an unlimited number of invoices to as many clients as you want—all for free. It’s easy to use, and the templates are fully customizable.

You can manage your invoices from anywhere with the Wave iOS and Android mobile apps.
Accounting tools and receipt scanning are both offered for free as well. Wait, all of this for free?

Can’t be? What’s the catch?

The only time you’ll pay is if you use Wave’s integrated payment solution, which is billed on a per-use basis. Alright, here it is. However, don’t throw out the baby with the bath water.

Credit card processing costs 2.9% + $0.30 per transaction for Visa, MasterCard, and Discover. American Express payments cost 3.4% + $0.30 per transaction. ACH payments are available as well for a 1% fee. If you are just starting and are operating a small home, this could still be an ideal option.

  1. Square: Best known for low-volume invoicing.
  • Unlimited free invoices
  • Integrated payment processing
  • No monthly fees
  • Card on file transactions

Square is best known for its POS software and payment processing solutions, but it’s also a viable option for billing and invoicing. With Square, it’s easy to send digital invoices to your clients from anywhere online.

More than 100 million invoices have been sent via Square. The platform has facilitated $20+ billion invoice transactions from 40+ million customers worldwide.

This shouldn’t be such a shock – square is everywhere.

Square lets you save customer cards on file for auto-billing and recurring invoices. They also have a wide range of invoice templates for industries like client services, retail, field service, and freelance.
The main advantage of Square is the built-in payment processing.

It’s easy for your clients to pay invoices from anywhere with just a few clicks. Not a bad option for a residential assisted living owner or operator.

Often, the family members tasked with managing the resident’s finances are busy. This flexibility could prove beneficial.

There’s no monthly fee, and you can send an unlimited number of invoices and estimates. You’ll only pay a processing rate of 2.9% + $0.30 per invoice paid online. That rate jumps to 3.5% + $0.15 for card on file transactions. Yikes! Convenience comes at a cost, here.

These rates are a bit high for payment processing, in general. But it’s fine if you’re not doing a high volume of monthly invoices.

Evaluate the volume of your RAL and see if this makes sense. Some RAL owners operate other businesses and integrating Square is easier for them.

  1. Invoicely: Advertised as the best simple billing and invoicing software.
  • Free for basic use
  • Starts at $7.99
  • Bill in any currency
  • Recurring statements

Invoicely is trusted by 100,000+ businesses. It’s a simple solution, which makes it a popular choice for small businesses.

Don’t let its simplicity fool you.

Invoicely is powerful and easy to use. You can create a professional invoice in less than 60 seconds. This is nice for the RAL owner who also doubles as CFO and/or Controller.

The software isn’t quite as feature-rich as some of the other solutions on our list. With that said, it has everything you need to manage basic invoicing. Sometimes simplicity is best, especially when starting your RAL business.

You’ll benefit from features like recurring statements, the ability to bill in any currency, send estimates, and accept payments online. Invoicely also has tools for tracking time, miles, and expenses for invoicing.

There’s a free plan for individual users, but it is free for a reason. The RAL owner will want to vere clear of it. It is not too professional. However, the other packages are good to go. The plans are largely based on the number of team members you have. Each one can accommodate up to 2, 10, and 25 users, respectively.

If you want an all-in-one accounting solution, Invoicely is not for you.

However, it is a viable option for simple online invoicing tools. Again, simplicity could be the best option for a new RAL owner.

Sometimes, it’s best to operate first and then see what would make the process easier. By doing this, if a change is needed, it will be a one-time occurrence not unwanted annual drama.

  1. Sunrise by Lendio: Often referred to as the best complete bookkeeping service.
  • Free unlimited invoicing
  • Dedicated bookkeepers
  • Financial reports
  • Expense tracking
  • Free unlimited invoicing
  • Unlimited bank transactions
  • Cash flow reports
  • Expense tracking

Sunrise by Lendio is a bit unique compared to other solutions on our list. In addition to basic billing and invoicing, they provide complete bookkeeping services.

Getting started is easy. Just create an account, sync your bank account, and start sending invoices. This is nice.

The self-service plan is 100% free. Credit card processing costs 2.9% + $0.30 per transaction, and ACH transfers are 1%.

But for those of you with advanced needs, Sunrise by Lendio has outsourced bookkeeping services as well. You’ll get a dedicated bookkeeper to record your transactions and close the books on a monthly basis. You can reach your bookkeeper by phone, text, or email.

This is ideal if you are just starting your RAL and may not have the time nor the wherewithal to balance all of the tasks on your plate.

The pricing for bookkeeping services is based on the number of transactions you have per month.
If you’re not interested in the bookkeeping services, you can still use Sunrise by Lendio for free unlimited invoicing.

HOW TO FIND THE BEST BILLING AND INVOICING SOFTWARE FOR YOU

While seven options are listed here, the number of invoicing software available in the market is immense. How does a new residential assisted living owner or operator find the right software?

First, be mindful that you needn’t be alone in this industry. Joining with the RAL Academy can make the biggest difference in your business. Why guess about what others have already figured out? While aligning with the Residential Assisted Living Academy, you may evaluate tools using some very basic information pertaining to your business.

Here are four criteria you will definitely want to consider:

  • Number of Clients
  • Automation
  • Payment Collection
  • Accounting Tools

RAL ACADEMY KNOWS WHAT YOUR BUSINESS NEEDS

Knowing what you need to run an efficient and effective RAL business does not have to be a mystery. Professional training and a cohort of supportive owners will land you in prosperity as a RAL owner.

What’s the best billing and invoicing software on the market today for a new RAL owner?

What software will support your RAL the best?

The answer to these questions is, whichever works best for you and your RAL.

Don’t favor what feels good – favor what does the most good. Knowing what invoicing software will best support your business may require help.

The professionals at the Residential Assisted Living Academy will be your best support in this decision and others. Some software is full of bells and whistles that do not make the music you need to operate your RAL business effectively.

For help with invoicing software and more, contact us today.