What is the #1 Real Estate Investment Opportunity Today?

Many people are preparing to make investment decisions, but without the right guidance, countless individuals will make the wrong choice.

What are the trends? What type of real estate should you invest in?

We have the answers to those questions and the needed information to guide real estate investors in the right direction.

There are 3 main types of real estate investment, and each type has multiple subcategories.

  1. Commercial real estate: retail, office, industrial, and multi-family.
  2. Residential real estate: single-family rental property, section 8 rentals, vacation rentals, small multi-family, and fix and flip.
  3. Land: Land for commercial development, land for residential development, land for farming, and land for mining.

According to commercial real estate investor and coach Victor Menasce, it’s no secret that senior housing is booming because seniors are coming in droves.

More than 10,000 baby boomers are turning age 65 every day and 4000 seniors turn age 85 daily. As a result, residential assisted living is a rapidly growing industry.

Robert Kiyosaki is the author of the book, Rich Dad Poor Dad. It promotes the importance of financial literacy and independence, business ownership, and building wealth through real estate investing. The book has sold over 40 million copies.

Robert Kiyosaki also understands that tens of millions of seniors will need assisted living in the coming years.

These are reassuring the reality that we’re in the right place at the right time.

However, senior living is also comprised of various categories. It’s important to understand that senior living comes in many forms.

Various Forms of Senior Living

Memory Care Homes

People with various forms of dementia, such as Alzheimer’s, usually require memory care homes that provide specialized care.

Why do these homes typically provide secure and safe environments?

With better staff-to-resident ratios, memory care homes are able to closely monitor the well-being of each resident.

In addition, memory care homes offer specialized programs, activities, and events that support cognitive abilities.

These programs also provide a sense of socialization and enjoyment.

Most importantly, memory care staff receive specialized training to provide quality care.

As a result, memory care homes impose an added cost.

Independent Living

Independent living is age-restricted communities offering housing for people 55 and older.

These types of communities do not ordinarily offer care services. Instead, they offer active styles and hassle-free home maintenance.

These homes can be apartments, free-standing cottages, villas, duplexes, townhomes, or condos.

Independent living homes come in a variety of floor plans and sizes. Ultimately, these homes offer paid services and residential amenities to make living easier and more convenient for seniors.

Services can include housekeeping, linen service, dining plans, transportation, security and more.

Amenities range from fitness centers, pools, multiple dining venues, beauty and barber salons, woodworking shops, art studios or crafting rooms, and entertainment spaces.

Skilled Nursing Facility or Nursing Home

When it comes to senior care, some terms are used interchangeably.

Skilled nursing facility, nursing home, and convalescent home are all terms used to describe certain types of residential facilities providing 24-hour medical care on-site.

Skilled nursing is a description of the type of service that is offered in residential homes, care facilities, hospitals, at home, and other senior care settings.

Skilled nursing care is a high level of medical care provided by licensed health professionals.

These licensed professionals provide wound care, intravenous therapy, injections, catheter care, physical therapy, and monitoring of vital signs and medical equipment.

Skilled nursing is always ordered by a doctor to be covered by Medicare, Medicaid, the VA or private health insurance.

Skilled Nursing care providers enable a senior to receive highly effective medical treatment while remaining as independent as possible.

CCRC – Continuing Care Retirement Community

A continuing care retirement community (CCRC), is a place where you have access to multiple levels of care on a single campus.

The benefit of CCRC is the continuum of care.

These communities are designed to equip seniors to be able to stay in the same environment despite health challenges.

ADC – Adult Day Care

Adult daycare is usually intended to relieve the caregiver or his or her duties for the day.

These safe and professional centers usually operate during typical business hours five days a week.

Currently, there are more than 4,000 of these programs operating in the United States, and a few offer evening and weekend services.

Regulation of adult daycare centers is at the discretion of each state, although the National Adult Day Services Association (NADSA) offers overall guidelines.

Benefits & Services of Adult Daycares

  1. It renders a break for the caregiver and the senior.
  2. It offers needed social interaction.
  3. It provides added structure.
  4. It supplies the following services: assistance with eating; taking medicines; toileting; walking; counseling; educational programs or mental stimulation; exercise programs; health monitoring; podiatry care; preparation of meals and snacks; social activities; therapies; and transportation services.
  5. It encourages social activities like crafts; cooking; exercise; field trips; games; gardening; holiday parties; music therapy; pet therapy; and relaxation techniques.

AHC – At-Home Care

At-Home care is supportive care provided in the home. This type of care may be provided by licensed healthcare professionals or even by a family member.

At-Home caregivers provide daily assistance to ensure that the requirements for Activities of Daily Living (ADLs) are met.

Right now there are about 65 million at-home caregivers in this country, whose services are estimated to be worth $375 billion.

Residential Assisted Living or Assisted Living

Assisted living is for people who need help with daily care.

Big box assisted living facilities range in size from as few as 25 residents to more than 120.

These large facilities are usually huge buildings surrounded by a parking lot.

Typically, different levels of care are offered.

Assisted living residents usually live in their own apartments or rooms and share common areas.

They have access to many services, including up to three meals a day; assistance with personal care; help with medications, housekeeping, and laundry; 24-hour supervision, security, on-site staff; and social and recreational activities.

In contrast, Residential Assisted Living is a two-fold business opportunity consisting of real estate and senior care.

The business also provides room, board, housekeeping, supervision, and personal care assistance with basic activities like personal hygiene, dressing, eating, and walking.

The services are similar to traditional big-box assisted facilities. However, residential assisted living provides a smaller, more intimate setting that feels like home.

As a result of the smaller, residential-style home, caregivers are able to offer better staff-to-resident ratios.

Naturally, because of this environment seniors experience fewer injuries due to life-threatening fall risks.

The industry is comprised of real estate owners and assisted living home operators.

An owner’s involvement depends on whether they want to be hands-on or hands-off.

How to Get Started in Residential Assisted Living

Owning and operating a residential assisted living home is comprised of multiple elements.

Getting started requires buying or leasing the real estate, licensing requirements, permits, finding quality caregivers, training, identifying your clients, marketing strategies and so much more.

The founder of the Residential Assisted Living Academy, Gene Guarino, is making the process easier.

The RAL Academy has a long history of putting investors on the path to success.

Residential Assisted Living Academy has built a nationwide network that functions as a family of assisted living providers.

As a nation’s leading resource for assisted living, the RAL Academy provides ongoing blog content, resources, and literature about best practices.

Students learn how to meet the high demand for senior housing and the keys to success to avoid obstacles and accelerate the startup process.

Learn everything you need to know from A-Z about owning and operating your assisted living business.

You can get started by registering for free access to this free Intro to Residential Assisted Living Course below.

How to Start an Assisted Living Home

Every successful business starts with a blueprint that blooms into a business plan, and this concept is the same for starting a residential assisted living home. Business-minded individuals who take their investments seriously seek guidance from leaders in the industry. 

Why risk jumping in the deep side of the pool knowing you can’t swim? Instead of gasping for air and desperately trying to survive, let the leaders teach you. 

Residential Assisted Living Academy has a 3-day A-Z training course, complete with a multi-level tour of various assisted living homes. The power-packed course provides ongoing support and details about every aspect of the business, from securing a business loan to national regulations and procedures. Some of the most important steps to take before you dive in are listed in this brief overview.

However, why go it alone when industry experts are willing to give you the secrets to success?

7 FACTS TO ELIMINATE STARTUP RISKS FOR ASSISTED LIVING HOMES

Get Experience First

Gaining a degree of experience in the assisted living industry will certainly prove helpful to newcomers. It’s important to familiarize yourself with the operational details required in the day-to-day business. Learn the ups and downs so that you will know what to expect and how to prepare yourself for high waves. 

Write a Business Plan

A business plan is an absolute must. Your business plan is your blueprint for everything you will need:

  • Budget
  • Remodeling expenses
  • Lease arrangements
  • Insurance
  • Equipment
  • Labor Cost
  • Market assessments

The business plan explains the layout of your assisted living home, as well as how many people you plan to occupy. The plan should be as specific as possible, outlining emergency procedures, state and federal funding and grants. 

Establish a Business with the State

Register your assisted living home as a business with the state, and obtain the proper federal tax identification number. Afterward, acquire any additional permits. Obtain insurance policies.

  • General liability insurance.
  • Business property insurance.
  • Workers’ compensation insurance. 
  • Professional liability insurance. 

Obtain a License

Licensing for assisted living homes are done at the state level. This typically includes safety operations, infectious disease control, staff training, audits, and inspections, as well as disclosure and privacy protection.

Anticipate licensing boards to read through your business plan, operations manual, safety protocol and to do a complete walk-through of your home.

Familiarize Yourself with Local Laws

Most states put all the information you need on their own website. 

Converting Your Home

Major modifications will probably be needed. For fire safety, you may be required to install sprinkler systems and have a minimum number of exits, as well as having safeties on combustible devices like stoves and fireplaces.

Natural hazards throughout the home will also come up. You’ll also be limited in the number of residents you can accept. 

Oversight and Home Inspections

No matter what type of senior care home you decide to open, you can expect an initial visit from state regulators, along with periodic follow-ups. If you accept Medicare or Medicaid, you may face oversight from federal regulators, as well. 

YOUR FIRST STEP CAN DRASTICALLY ALTER YOUR FINAL OUTCOME

The Residential Assisted Living Academy will likely save you money, heartache and lots of wasted time. 

As America’s aging population increases, entrepreneurs are finding new opportunities in opening assisted living homes. Even with the best of intentions to care for the elderly, successful businesses require more than a huge heart. These assisted living homes are expensive to run, have a lot of liability and require marketing strategies to survive amid competition.

This is why you should contact www.Ralacademy.com before diving and drowning in deep waters. 

Who wouldn’t want to learn from the best to ensure their success? 

Changing Public Perception of Residential Assisted Living

With more than 10,000 baby boomers turning age 65 every day, and 4000 turning age 85, residential Assisted living homes are on the rise nationwide. 

However, some residential assisted living owners and operators have difficulties keeping their beds occupied with seniors. Small pockets throughout the country have a limited public perception of what assisted living lifestyles are all about. This is why it is important for new business owners and operators to gain the education and resources needed to re-market assisted living to impact public perception. 

Good residential assisted living marketing strategies take into consideration the notion of public perception in order to generate expected results. 

POPULAR PUBLIC PERCEPTIONS OF ASSISTED LIVING 

  • Although countless baby boomers could benefit from residential assisted living homes, a large percentage refuse to consider the option because they do not know enough about it.
  • Many seniors who do consider the assisted living option, reject the choice without any explanation.
  • Preconceived notions about living like old people, especially among baby boomers, who view themselves 10 years younger than they actually are, cause seniors to avoid RAL homes.
  • Most seniors are glad assisted living exists, but hope they will never have to use it. 

The nationwide residential assisted living industry must do a better job getting to know their prospects. 

Owners and operators must create a brand that also embraces seniors who not interested in RAL homes. 

Assisted living prospects consist of a broad range of seniors. 

These prospects do not all have the same medical needs, annual income, or perspective about aging. 

RAL homeowners, operators, caregivers, and marketers produce the best results when they engage seniors as individuals, not old people in need of care. 

Who are your RAL home prospects?

FIVE FACT ABOUT NEW RESIDENTIAL ASSISTED LIVING HOME PROSPECTS 

  1. They want choices.
  2. Most seniors want to feel engaged and connected.
  3. People with assisted living needs still want to learn and grow.
  4. This demographic despises terms like retirement home community and seniors. 
  5. They don’t want to be surrounded by peers that make them feel old.

In addition to knowing what new prospects want, there are a few need-to-know components that every RAL homeowner should redline in order to avoid turning residents away. 

Paint Accurate Pictures…

For starters, your marketing materials should tell an accurate story about your assisted living home. 

Do not make potential residents and their families think you are trying to fool them. 

The impression you leave on your prospects will spread by word of mouth and have a positive or negative effect on RAL homes across the country, not just your home.

Know Your Community…

Senior living providers also need to know their community, politicians, business operators, and restaurants. 

Your knowledge of the community will help you to engage potential residents and help keep current residents connected. 

Do Your Research…

Understanding what seniors want and avoiding the things they do not is a critical part of providing quality assisted living care.

This is the RAL Academy provides up-to-date information about best practices, senior services and engaging content about activities of daily living.

Use Technology to Your Advantage…

Sometimes, technology can determine whether you win or lose. Technology has the potential of attracting more efficient staff and providing a better quality of care. 

Various forms of technology also enable family members or payees to make monthly payments while maintaining a consistent flow of communication with your RAL home. 

Also, technology plays a key role in processing accurate data. 

Understanding data and being able to tell your story based on facts, figures and statistics has

huge potential for keeping your residential assisted living home financially healthy.

KNOWING YOUR AUDIENCE IMPACTS THE INDUSTRY

Over the last 4 years, healthcare has increasingly risen to the single largest driver of job growth in American.

Unquestionably, healthcare will soon be the largest industry in the country.

What does this mean for your residential assisted living business?

In order to stand out as the most viable assisted living candidate, the RAL industry has to know what seniors want.

The silver tsunami of seniors that will continue to affect the RAL industry over the next two decades is baby boomers. 

7 Characteristics to Consider When Branding for Boomers 

  1. They have more money to spend than their predecessor generation.
  2. Baby boomers do not like to be reminded that they are getting older.
  3. Relationships are very important to them.
  4. Keeping your word carries a lot of weight in their circles. 
  5. They are usually bi-partisans seeing both sides of any given subject.
  6. They care about the economy and morality.
  7. Baby boomers tend to possess brand loyalty.

RAL ACADEMY IS CHANGING THE FACE OF ASSISTED LIVING 

We need to remarket senior housing to reflect the incoming baby boomer generation and their preferences. 

Assisted living isn’t a safety net for seniors who don’t have other options – it’s a lifestyle.

The RAL Academy teaches new business owners how to create a model of residential assisted living homes that provide quality, luxury, and care.This model empowers seniors to thrive and enjoy the twilight years of their life. The RAL Academy is the nation’s leading resource for assisted living. 

If you own or operate a residential assisted living home or plan to start a business soon, contact www.RALAcademy.com to learn some of the savviest strategies to occupy every available bed. 

Learn how to change public perception about RAL homes by learning everything from A-Z about owning an assisted living business.  

Do you know enough to change public perception about assisted living, or is your residential assisted living business barely surviving?

Marketing 101 – Tips for Your RAL Business

Residential assisted living is a rapidly growing business opportunity that attracts a wide range of owners, operators, and seniors. 

Many owners and operators have minimal experience in running an assisted living business.

Marketing is one of the core concepts that can determine whether your business fail or thrive.

A marketing plan is an essential marketing tool for every small business. 

To create an effective plan, you’ll need to start by answering some important fundamental questions.

What do you want your assisted living home to accomplish and why? What is your target market? Who is your competition? 

Consider these important questions before taking any other action. 

There are ten critical questions every business owner and operator must answer in order to create an impactful marketing plan. 

10 Critical Startup Questions

  1. How Will Your Marketing Plan Support Your Business Goals?
  2. What Is the Mission You’re Trying to Accomplish, and Why?
  3. Who Are You Trying to Reach with Your Marketing Activities?
  4. Who Are You Up Against, and Where Do You Rank?
  5. What Makes Your Business Unique?
  6. What Will You Charge, and Why?
  7. How Will You Reach Your Target Market?
  8. How Much Money Will You Spend, and on What?
  9. Do You Need to Complete to Reach Your Marketing Goals?
  10. What Tasks Do You Need to Complete to Reach Your Marketing Goals?
  11. What Results Have You Achieved, and Where Can You Improve?

How Will Your Marketing Plan Support Your Business Goals?

Prior to developing your marketing plan, define a clear concept of what you want to accomplish. 

Your marketing strategy should be it’s directly related to your business goals and objectives.

A marketing strategy outlines expectations; a marketing plan provides details of how to execute the strategy. 

Afterward, break down your plan into short and long term objectives in an effort to script your marketing message. 

Remember, your timelines are important because they keep your plan realistic. 

Be careful to place emphasis on how your marketing strategy and marketing plan work together. 

Setting goals based on your business guidelines is the best way to get started. 

What is the Mission You’re Trying to Accomplish, and Why?

Your mission statement should be short, simple and memorable – it explains what you are trying to do and why you are doing it. 

Your mission statement should always be merged with your marketing plan. In fact, the mission statement is the foundation of your marketing plan. 

Incorporating your mission statement into your marketing plan ensures that your marketing activities are connected to your overall objective. 

Your mission is the most effective tool to repeatedly revisit to make sure your business remains on the right track. 

Finalize your mission statement before you do anything else. 

Who Are You Trying to Reach With Your Marketing Activities?

What is the specific audience you are trying to reach? The answer to this question will help you identify your target market. 

The more demographics and details determined about your target audience, the more your marketing plan will be able to target assisted living prospects. 

Market research will help you identify and find your target audience. It will also enable you to discover their values, concerns, and needs. 

A sketch of your residential assisted living home should identify your ideal seniors and help you personalize the specifics of your marketing message.

Who Are You Up Against and Where Do You Rank?

A competitive analysis is one of the best ways to research your target market, prepare your marketing strategy, and study your competition. 

Who are you up against? Is it another assisted living home, a big box facility, or false ideas about residential assisted living?

It’s important to consider what your competitors are doing right and what they are doing wrong. 

Competitive analysis helps you beat the competition, find your niche, and prepare for challenges. 

What Makes Your Business Unique?

Your assisted living home needs a unique selling proposition. Identify what sets you apart from everyone else in the industry. 

Prepares you’ve heard of the marketing term called USP, which means a unique selling proposition.

Your USP outlines how your residential assisted living home differs from your competition. 

Be unique in a way that makes your business a better choice than seniors will prefer over the competition. 

What Will You Charge, and Why?

Your residential assisted living home should have a pricing strategy based on the model you follow. 

Your business plan should already have many suggested price points for your assisted living home. 

Relate your pricing information to your marketing materials and marketing message. 

Your marketing plan must convey the value of your price points. A high-value proposition often leads seniors to fill the beds in your home.

How Will You Reach Your Target Market?

Create a promotional plan that covers all the communication materials needed to promote the key elements of your assisted living business. 

Your promotional plan should combine advertising, public relations, content marketing, internet marketing, and other publicity efforts. 

Only use 3-5 specific marketing variations to execute your marketing strategy, isolating your marketing campaigns is paramount. 

How Much Money Will You Spend, and On What?

As you outline your promotional plan, define a marketing budget so that you will know what activities you can afford. 

New small businesses often have a limited marketing budget. This is why creating a promotional plan that works is vital.

You may have an annual marketing budget, but you should also break it down into monthly increments. 

This will enable you can track results and modify the promotional plan to focus on the activities that provide you with the best return on investment.

What Tasks Do You Need To Complete To Reach Your Marketing Goals?

Outlining an action list is an important part of your marketing plan. This outline becomes the task list to guide you through each promotional activity. 

Action steps help successful business owners and operators stay on track and maintain consistent progress.

Action step prevent assisted living marketing teams from re-creating the wheel for every marketing campaign. 

Evaluate your end goal and break it down into a series of single-step tasks to create the best action plan possible. 

Each action item should also include a due date.

Typically, smaller steps empower you to complete easier tasks and build marketing momentum.

What Results Have You Achieved, and Where Can You Improve?

Marketing metrics will enable you to track and measure your results. A metric allows residential assisted living homes to transition your marketing plan from a one-time endeavor to a static document that consistently grows your business. 

There are different ways to track and measure marketing results. For example, online marketing can be tracked using analytics using search engine optimization. Offline marketing methods require a more manual approach.

The more standardized your tracking system, the more relevant your results will be. 

Marketing is difficult to measure without a system in place. 

Measuring your results will enable you to tailor your marketing activities to focus on the areas where you have the most success.

Get Connected to Mentors and Models for More Tips

The RAL Academy is the nation’s leading resource for assisted living, mentoring new business owners and offers an assisted living model that works nationwide.

Contact www.RALAcademy.com to learn more detailed professional tips about marketing your home.

Students who attend the 3-day course at Residential Assisted Living Academy to learn how to meet the high demand for senior housing, marketing strategizing that work, and everything from A-Z about owning a RAL business.  

Do you have a support system in place to help you ensure that your business succeeds?

Times Are Changing…Can You Adapt?

Residential assisted living business owners should be flexible and learn to adapt, in order to prepare for a rapidly changing future.

Are you up-to-date on the latest marketing tips, tricks, and techniques to stay ahead of your competitors?

Many owners and operators are receiving a wake-up call that “business as usual” has grave impacts.

The future is now when it comes to technology.

Business owners who expect to gain success must come to grips with some important realities about how technology is changing the game.

Five Game-Changing Perspectives

I. Senior living isn’t immune to change;

II. Word of review is more powerful than word of mouth;

III. The days of “build once and done” websites are over;

IV. Get serious about content marketing;

V. Fear of change will kill you.

1. Senior Living Isn’t Immune to Change

Media ubiquity, allowing your assisted living home to appear everywhere and maintain a common brand, has changed how people relate.

Ubiquity also affects how people interact with one another and obtain information. 

The residential assisted living industry often functions as though it exists in a bubble reality.

The truth is our use of technology, in how we market and communicate, is not any different for the seniors and their families that we seek as prospects. 

Assisted living is equally compared to other businesses in regards to how the world uses technology to add value to their lives. 

No business is immune to change, and that includes senior living.

Unfortunately, far too many residential assisted living businesses fall short when it comes to keeping up with modern times and tech.

2. Word of Review Is More Powerful Than Word of Mouth

In today’s society, everything is fair game for scrutiny, criticism, and review by consumers – residential assisted living homes are no exception. 

Sales and marketing efforts have a completely different influence on decision making than they did in the pre-digital age. 

In the digital age, machines play a large role in the selection process of products and services. A significant part of the process has been automated with narrowed choices by machine thinking. 

Residential assisted living homeowners must recalibrate their marketing strategies to attract and convert prospects.

Many reviews are unfair and inaccurate, but they still shape people’s perception of your brand. The words people use in your reviews carry more weight than word of mouth in today’s society.

This is important to recognize because prospects make decisions based on your digital reputation. 

Avoid the competitive disadvantage of failing to acknowledge the potency of the word of review. 

3. The Days of “Build Once and Done” Websites Are Over

We no longer live in a digital error where branded business packages attract anyone who expresses an interest.

Websites used to hold businesses over for at least a couple of years, maybe longer. 

Those days are long past, but some assisted living business owners are behind the times.

Your website should be evolving.

In order to meet consumer demands, savvy business owners must provide information and tools to help individuals make the right decisions.

Think of your website like a shark tank – a shark has to keep moving forward or it dies. 

4. Get Serious About Content Marketing

Your content marketing should be something that others want to emulate – stay ahead of the game. 

Content marketing is the future of marketing. 

Content marketing creates valuable, relevant literature that educates consumers and helps them make smarter decisions.

Content enables businesses to build a distribution network that makes your website visible to the right people.

This literature should be geared toward achieving well-defined business objectives.

Content should be the core of your marketing program. 

Paid media and outbound tactics play a role, but the content should come first, not as an afterthought. 

Content marketing can add value to your assisted living business and will move more people to consider residential assisted living as an option.

5. Fear of Change Will Kill You

Always build for the future, not for the present. 

This is a colossal challenge for the assisted living industry. Most businesses are afraid of change. 

Where is the innovation?

The real opportunity for the assisted living industry lies in creating services that benefit seniors and products for the caregiver staff.

Instead of cookie-cutter communities, assisted living needs incremental improvements, and residential assisted living is the new wave of senior care. 

If you don’t embrace change, someone else will and their success will drown out your business. 

The good news is that change is never boring. However, you have to always adapt to keep up with an advancing industry. 

How to Always Adapt to Advances

Residential Assisted Living Academy has built a nationwide network that functions as a family of assisted living providers.

As a nation’s leading resource for assisted living, the academy students continue to receive ongoing blog content, resources, and literature about best practices. 

Students learn how to meet the high demand for senior housing and up-to-date marketing strategies that work for successful assisted living homes.

Do you know everything from A-Z about owning and operating your assisted living business?

Contact www.RALAcademy.com to get connected to champions in the industry and stay ahead of the game. 

Web Referrals…Up Your Online Marketing Game

Using technology is a winning strategy to gain referrals in today’s assisted living market. 

Are you solely relying on traditional referrals agencies to fill your residential assisted living home with residents or are you taking advantage of online web referrals?

Residential assisted living homes are seeing an increase of up to 35 percent of their move-ins through web-based advertisements. 

This is because seniors and their families are searching online for assisted living housing. 

Savvy internet shoppers are becoming more significant to the residential assisted living industry. 

This is why it is important for residential assisted living homeowners and operators to start doing things differently.

Different Strategy to Sales and Marketing

What are industry leaders doing differently to capture countless internet leads?

Residential assisted living homes that gain more leads than their competitors and colleagues share some common characteristics.

4 Characteristics of Residential Assisted Living Industry Leaders 

  1. Residential assisted living industry leaders are proactive. They are ahead of the curve in searching out and responding to online inquiries. 
  2. They are consistent and persistent at implementing consistent routines and practices within their sales team. As a result, they connect to their referrals. 
  3. They understand that scheduling face-to-face tours are more effective for referrals than phone calls and sending brochures. 
  4. Successful residential assisted living homeowners understand the critical variable of training their salespeople.  A quality sales team does not rely on referral agencies – they create and work their own leads.

As a residential assisted living home owner and operator, if you are not getting leads from Internet sources, you are missing out on a huge audience. 

You can no longer afford to ignore this rapidly growing segment of the market. 

Knowing your target audience and finding innovative ways to connect while enable your sales team to increase your occupancy. 

In addition to seniors seeking residential assisted living homes, more than 70 percent of their children are involved in their parents’ transition. 

How effectively do your website and social media presence target the appropriate audience? 

The Secret to Increasing Residential Assisted Living Home Occupancy? 

The truth is most seniors desperately try to avoid residency in assisted living homes. 

Only 10 percent of retirees are optimistic about the option of an assisted living home, according to a Merrill Lynch study. 

The same study showed that 85 percent of seniors say they prefer at-home care. 

This study only means that increasing your residential assisted living home occupancy can be challenging. 

How do you get seniors interested in the value of your assisted living home?

There is a secret statistic sales teams should always remember – over 70 percent of people are looking for assisted living placement for their parents.

These adult children are your audience – they are the connection to your prospective occupants.

These individuals are generally between the ages of 35 to 50. 

They seek high-quality, comfort, and convenient locations that are accommodating for their parent’s needs. 

Most importantly, this demographic consists of frequent Internet users that are computer savvy.

Your assisted living home should market online to this digital audience in order to quickly fill beds in today’s industry. 

Digital Marketing Strategies 

Maintaining a strong digital online presence means your site should pop up first on google searches. 

There are many web-based companies that will help your business to accomplish this goal.

Demand expertise and a measured return on your investment into web-based services.

In order to achieve premier search engine results and deliver a strong return, secure a company can produce key marketing services. 

Six Key Marketing Services

1. SEO (Search Engine Optimization):

People that are interested in assisted living often search online to find the right fit. This means that a set of keywords and phrases can be anticipated. As a result, it is important to arrange your words so that assisted living home pops up first in search results. This is SEO or search engine optimization in action. 

2. PPC: Pay-Per-Click

Pay-per-click ads are an effective and affordable way to provide immediate marketing online. The best aspect of PPC is that you only pay when a user clicks on your ad and then to go immediately to your site. PPC ads are inexpensive, attract visitors and enable your sales team to convert leads into prospective residents. 

3. Content Marketing:

Content-based marketing is a great way to attract new residents. Content marketing includes any type of online content, such as web page copy, content on your social media platforms, marketing emails, video, images, e-guides, blog posts, and more. Content marketing enhances your online presence and boosts your conversion rate. 

4. Social Media Enhancing:

Building your presence on Facebook, Twitter, and Instagram will enable you to keep up with prospective and current resident questions and concerns. Linking your social media platforms, websites, blogs, emails, and other media will drastically increase your leads.

5. Conversion Optimization:

Conversion optimization refers to maximizing the effectiveness of your online content. As a result, viewers are driven to your site. This means staying on top of online search trends and technological advancements. It also means finding your audiences’ pain points. When you can target solutions to these problems or “pain points,” you’ll see a direct positive correlation in conversion rates.

6. Reputation Management:

Your online reputation is a serious contributor to or a detractor from the success of your business. Referral sources, seniors, and their adult children searching for information online should find content that emphasizes your business credibility. Negative feedback online is inevitable, but you can prevent any negativity from impacting your overall flow of operations by proactively mitigating damaging consequences. 

How to Prepare Business Owners for Marketing 101

RAL Academy is the nation’s leading resource for all things assisted living. 

If you own or operate an assisted living home or plan to start a business soon, contact www.RALAcademy.com to learn savvy strategies for success.

What is your current strategy to maximize your online potential? 

Residential Assisted Living Academy can help. 

Making Great Videos For Your RAL Business Doesn’t Have To Be Hard

Information is increasingly being consumed by video content, which leaves only seconds to capture the attention of viewers. 

Does video marketing determine the success or failure of your residential assisted living home?

Creating visual marketing content is critical in our current society, and there are dozens of concepts you can use to produce and distribute videos. 

Every RAL homeowner and operator needs to understand 5 concepts about video marketing:

  1. The Value of Video Marketing,
  2. Easy and Affordable Videos,
  3. Steps to Take Prior to Production,
  4. Knowing Your Audience, and 
  5. Most Effective Distribution Methods.

I. The Value of Video Marketing

The value of video marketing cannot be overstated enough – studies show that videos have a positive effect, especially when used on social media.

Branded social media videos influence consumer opinion and behavior considerably. 

Reports show that 74 percent of consumers agree that there is a direct connection between viewing videos and making purchases.

Buying decisions are so drastically impacted by videos that 46 percent of consumers do so immediately after watching a directly related marketing video.

From brand awareness to buying decisions, videos on social media have positive effects.

It’s frequently said that “a picture is worth a thousand words”. Well, a short motion picture used as video marketing for your RAL home is invaluable.

II. Easy and Affordable Videos

There are many companies and independent contractors that specialize in highlighting the key features of your assisted living home.

However, resident storytelling and video production can be simple and cost-effective as using your smartphone.

Video marketing must be a part of your budget in one way or another.

There are inexpensive apps that can be downloaded to your smartphone to also help eliminate added costs.

OneDay is a video-making app that also makes video creation quite affordable. 

Caretakers are able to transform into amateur videographers with the simple use of an ordinary smartphone.  

Apps like OneDay enables RAL home workers to point and record whatever they want to capture. 

Afterward, you can edit your recordings and create a YouTube quality movie. 

So, whether you decide to pay a third-party contractor, hire a marketing expert or use a smartphone, video productions are easy and affordable. 

III. Steps to Take Prior to Production

In addition to filming and editing, there are more steps to marketing videos.

If you want to funnel your prospects into potential residents, there are key steps involved.

The marketing funnel enables you to transition individuals from awareness to interest to consideration to intent to occupy a bed in your home. 

Prospects need to be engaged wherever they are on the marketing continuum. 

In order to do so, considering the following actions prior to starting your video production:

4 Point Pre-Production Action Plans 

  1. Identify your target audience 
  2. Determine your distribution channels
  3. Pinpoint your takeaway message 
  4. Select the best delivery method 

IV. Knowing Your Audience

Prospects come from your primary audience when you create an effective marketing video.

This is why identifying your target audience is a critical first step. In our industry, we refer to that person a “resident.”

Seniors seeking a residential assisted living home and their family members are the target audience for RAL homes. 

While determining the take-away message, approach, and distribution channels consider the prospect demographic and psychographic information.

Target Audience Demographics and Psychographic Information

  • The average age of your future resident is 65 and older
  • Women make up 74 percent of the RAL home population
  • Only 12 percent are still married or have a significant other
  • Most RAL home occupants do not need intensive medical care but require assistance with activities of daily living (ADLs)
  • Senior prospects tend to perceive themselves as 10-20-years younger
  • Most of them do not want to be called seniors
  • They may or may not be realistic about their needs
  • They don’t like to be reminded of any limitations

V. Most Effective Distribution Methods

Demographics vary based on the social media platform you plan to use to market your RAL home video. 

It is best to take advantage of all platforms available, however, market to the ones that have a higher usage amongst potential residents and their families.

The following list details the demographics for the 6 most frequently used social media platforms:

  • Facebook Demographics: ages 50-64 (65%) 65 and older (41%)
  • Instagram Demographics: ages 50-64 (21%) 65 and older (10%)
  • Twitter Demographics: ages 50-64 (19%) 65 and older (8%)
  • LinkedIn Demographics: ages 50-64 (24%) 65 and older (9%)
  • Pinterest Demographics: ages 50-64 (26%) 65 and older (16%)
  • Snapchat Demographics: ages 50-64 (10%) 65 and older (3%)

RAL Academy Offers Continued Support to Best Market Your Home

The RAL Academy is the nation’s leading resource for assisted living. 

If you own or operate a RAL home or plan to start a business soon, contact www.RALAcademy.com to learn some of the savviest strategies to occupy every available bed. 

Video content can also be sent out in mass emails, digital newsletters, and shared in various links.

Video content is proven to be more engaging than static images alone. 

Work smarter, not harder. 

RAL homeowners and operators who are comfortable using videos and YouTube are likely to see far greater results. 

Learn how to meet the high demand for senior housing, marketing strategizing that work, and everything from A-Z about owning a RAL business.  

How often do you make new videos to promote your RAL home and keep your brand relevant in a competitive market?

Residential Assisted Living Marketing… How to Make the Most Out of Your Leads

Do you have a concrete and seamless strategy to market your residential assisted living home? After finding the right location, establishing proper procedures, and training a quality team, a solid marketing strategy is key to ensure success. 

A solid marketing strategy will accomplish four objectives.

  • Eliminate sales frustrations
  • Connect with prospects
  • Understand marketing cost 
  • Circumvent problems by planning ahead. 

The cornerstone of a solid marketing strategy is centered on 5 pillars.

The 5 Pillars of a Solid Marketing Strategy

  1. Identify Your Target Audience
  2. Pick Wise Promotional Methods
  3. Create a Sales Funnel
  4. Use Technology to Build Relationships
  5. Leverage Social Media to Connect and Engage

1. Identify Your Target Audience

The first step of lead generation is identifying your target audience. Research is critical to marketing. Understand the demographics of your audience, such as WHO they are, WHERE they live, HOW much money they earn, and WHAT is their lifestyle. Finding the answers to these important questions will help you create a comprehensive marketing plan. 

2. Pick Wise Promotional Methods 

Strategically promoting your residential assisted living home will help you generate leads. A proper promotional plan will ensure that your residential assisted living home gains the attention of your target audience. There are countless platforms you can use to promote your business, but all platforms are not effective for all businesses. 

Examples of Marketing Methods 

  • Informational Websites
  • Blogs
  • Social Media
  • Speaking Engagements
  • Industry Events
  • Current Customer Referrals
  • Pay Per Click (PPC) Advertising 
  • Traditional Advertising

Your residential assisted living marketing plan will achieve expected results when you identify promotional methods that effectively target your specific audience. 

3. Create a Sales Funnel

After identifying your target audience and picking wise promotional methods, collecting contact information is your next critical step. Process all prospects to a standard form or landing page. This process is a non-intrusive approach of funneling leads with contact information. Free gifts, coupons, samples, and other incentives encourage prospects to share the information you’ll need in order to follow up. As a successful residential assisted living home operator, you’ll need to create a consistent system to track potential residents and funnel them through the process. 

4. Use Technology to Build Relationships 

Cultivate relationships in order to transition seniors into residents. An email newsletter or virtual tour video with an informational vlog allows you to create consistent communication with your prospective residents. Plan your email marketing campaign, and follow the CAN-SPAM Act regulations.

5. Leverage Social Media to Connect and Engage

While many seniors do not use social media, their children do. In most cases, a family member will be responsible for the assisted living placement of mom and dad. Social media provides a number of lead generating opportunities. Facebook, Twitter, LinkedIn, Pinterest and YouTube are good platforms to engage the senior living community and funnel them to your residential assisted living home as new leads. Use social media to create positive touch points. The more positive touch points people have with your residential assisted living home over time, the more likely they are to trust your brand. Lead generation should be thought of as a long-term and continuous process. An efficient system will streamline the lead generation process and increase your opportunities to fill empty beds in your residential assisted living home.

Eliminating Sales Frustrations 

Difficulties landing leads and connecting to potential residents is a frustrating process that often leads to failure, unless you build a solid marketing strategy. 

Sales can be sobering and challenging. To avoid discouraging and depressing difficulties, be sure to put a solid marketing plan into practice.

Connecting with Prospect

Ask yourself how your sales process and tours feel from a prospect’s perspective.

Research shows that when prospects reach out to a residential assisted living home, they are educated and have already narrowed down their search. 

Missed phone calls are missed opportunities.

As a residential assisted living home operator responsible for filling beds, it is important to know how to interact with people.

Be prepared to answer random questions, listen to comments and body language, don’t talk too much, and don’t come across as disinterested. 

Connect with prospects. 

Prospects who feel engaged will typically share their experiences with friends and family members. 

While word of mouth is the best marketing, be mindful that negative experiences can have an even broader impact.   

Understanding Marketing Cost

Marketing comes with a price tag.

Traditionally, the cost of each new inquiry is about $200. Blowing a lead is like setting two $100 bills on fire. 

Potentially, it is worse than that.

Based on the national average residential assisted living home monthly cost of $3,650, with a 30-month average stay for seniors, the loss of a move-in could easily exceed $100,000.

Understanding the cost of marketing will enable place an added sense of responsibility on individuals responsible for sales. 

Circumvent Problems by Planning Ahead 

It makes good business sense to stay ahead of any problems. The following 5 pro-tips will help your sales team capture every lead:

  1. Provide sales training to every single person responsible for answering prospect calls.
  2. Train all staff about the importance of being available to effectively handle inquiry calls.
  3. Gather required information from every caller based on a pre-printed spreadsheet.
  4. Train your team to be present, show interest and listen to every conversation. Effective listening will always make a positive impression and set the stage for a successful ongoing relationship.
  5. Train your team to encourage prospects to come in for a scheduled tour and personal visit.

RALAcademy Provides Ongoing Support for Marketing Strategies

Visit www.RALAcademy.com to learn more about marketing strategies to make the most out of your leads. 

The academy teaches students how to succeed as new residential assisted living homeowners and operators.

During the 3-day course, instructors teach using an interactive live training approach.

Participants learn everything from A to Z about how to run a residential assisted living business.

Contact the academy today to learn strategic skill sets and support structures needed to launch your residential assisted living business to the next level.

Do you want to learn how to generate more leads by marketing your residential assisted living home the right way?

Pro-Tips for Family Caregivers

Since the mid-1990s, the National Alliance for Caregiving has designated November as National Family Caregivers Month.

Residential Assisted Living Academy understands that caring for loved ones is a full-time responsibility.

Is it possible for sons and daughters to effectively care for their senior parents at home?

Of course, they can, about 43 million people do it every day, but are they reaping the most benefits available in the assisted living industry?

Caregiving requires patient advocacy, medication management, meal planning and assistance with activities of daily living. Without experience, training, support and the proper skillset, sons and daughters across America will not be able to meet the high demands of effectively caring for mom and dad. 

Caring for aging parents, ensuring their safety, sustaining a steady career, maintaining a marriage, and navigating personal health challenges is the lifestyle of caregivers. In addition, their daily duties often require raising children.

Keeping seniors safe at home is a top concern for caregivers.

Nine At-Home Safety Pro-Tips for Senior Care

  1. Bathroom Safety: Safe senior homes have to grab bars inside and outside of the shower and on either side of the toilet. Non-slip rubber mats are critical for slippery when wet bathroom floors. A foldable chair, flexible shower wand, and ultra-low step up are often necessary safety features. Most accidents for seniors occur in the bathroom. 
  2. Assist with Mobility: There are multiple methods of assisting seniors with mobility. For starters, make sure that movement is simple by placing a bench at the door. A kitchen counter stool provides independence for meal prepping. Also, proper household footwear aides with slip prevention.
  3. Consider Outdoor Areas: Many senior falls happen outside the home. Ensuring that your walkway, driveway, and sidewalk are free of unstable cracks. Rubber mats on wooden porches are great for anti-slip grips.
  4. Encourage Exercise: If possible, bicycling, climbing stairs, walking, and weight training are strongly encouraged. Some seniors are less mobile and encouraged to participate in exercises like chair yoga.
  5. Add Extra Lighting: In order to prevent unwanted night falls, add increased lighting in entryways, hallways, and stairwells. Since darkness increases the risk of accidents, motion sensor lighting is very beneficial in homes occupied by seniors.
  6. Emergency Calls: Despite modifications, you can never prevent the unexpected. Emergency assistance can mean the difference between life and death. There are neck and wrist call-alert devices that seniors can use in the absence of caregivers when needed. At a minimum, it is best to keep a phone within arms reach in areas where seniors spend most of their time.
  7. At-Home Safety Devices: There are many products designed to keep seniors safe. These items include comfortable impact active hip protector underwear for fall protection; home monitoring systems for seniors who spend time at home alone; and pill dispensers for medication management. There are many other devices to accommodate various safety concerns that family caregivers can provide. 
  8. Safeguard Homes from Hazards: Remove slipping and tripping hazards. For example, area rugs have a tendency to curl at the corners, causing hazards. Clutter, extension cords and steep steps are hazardous. Cleanliness enables a home to provide toy-free floors when small children and pets are present. 
  9. Special Needs: Some seniors suffer from conditions like dementia, arthritis, and Alzheimer’s. These conditions demand additional safety precautions that require at-home caregivers to seek professional support. 

Need-to-Know Facts About Being a Family Caregiver 

Caring for aging parents causes sons and daughters to make serious sacrifices. 

National Family Caregivers Month is a time to reflect on the compassion and dedication of family caregivers. 

These pro-tips from Residential Assisted Living Academy offers free support for family caregivers. 

The following key facts are components family caregivers should know: 

  • Taking Breaks is Important
  • Caregivers Have Limits
  • Create a Support System 
  • Care for Yourself First
  • Your Work is Valuable
  • Help is Available
  • Knowledge Makes Caregiving Easier
  • You Are Not Alone

RAL Academy Provides Opportunities for Family Caregivers  

The value of the unpaid care that these 65 million caregivers provide is estimated to be worth about $375 billion, according to the National Alliance for Caregiving. 

How has being a caregiver affected your life? 

Did you know that many family caregivers have turned their good deeds into a profitable business? 

The RAL Academy is the nation’s leading resource for assisted living. 

If you are currently providing at-home care for a senior family member, you can own and operate your own RAL business. 

RAL homes owners earn anywhere between $5000, $10,000 and $15,000 monthly per home. 

Some RAL homes make even more income depending on the location and size. 

Make plans to start your own business soon by contacting www.RALAcademy.com to learn some savvy strategies about starting an assisted living home. Work smarter, not harder. 

RAL Academy will teach you everything you need to know from A-Z about owning a RAL business. The academy will even help you secure loans for startup costs. Learn how to meet the high demand for senior housing. Did you know that there is a silver tsunami of seniors on the rise, with 10,000 baby boomers turning age 65 every day and 4000 turning 85?

This is the fastest-growing demographic in the country – now is the perfect time to do good and do well. 

Are you ready to make a lot of money doing what you’re already doing?

Is There A Way To Lower Staff Turnover?

“I quit,” are two words you seldom want to hear from your residential assisted living staff.

Lowering your staff turnover requires three simple steps; hiring the right leaders, nurturing happy team members, and practicing the 11 pro-tips for employee retention. 

These tips require people skills that your RAL business cannot afford to take shortcuts to avoid.

Senior living staff turnover rates are about 50% for both skilled and assisted living communities. 

According to a 2013 American Health Care Association report, the national turnover rate for skilled nursing facilities was 43.9% and 51.5% for CNAs.

According to Leading Age and Health, the overall turnover rate for assisted living was 32.4%. Turnover is not good for the assisted living industry.

It is expensive to recruit, train and integrate new staff repeatedly. Staff turnover makes it extremely difficult to build a caring culture in your RAL home.

Staff retention starts with good leadership. 

HIRING THE RIGHT LEADERSHIP 

There are numerous reasons a person may not be the right fit for the assisted living industry. However, the relationship between a supervisor and subordinates is a significant factor.

There is no magic bullet to retaining employees. 

Although it is important to note that positive, supportive and present leaders increase the chances of employee retention. 

The right leadership helps define and maintain an engaged workforce. Without this none of the following strategies will be effective. 

Professional development is priceless for RAL leaders. 

With this in mind, when hiring and training RAL management, remember that this position is the primary piece of the puzzle for employee satisfaction. 

Leadership is also responsible for hiring new staff, and it is important to know the industry when doing so. 

How can you avoid hiring staff members that are likely to quit?

There are three most notable reasons why RAL homes experience high staff turnover:  

  • A large proportion of college students who don’t work the full year, 
  • Workers who are unable to cope with the stress of caring for seniors, and
  • Younger staff members exploring their first years of working.

The turnover comes at a high price for RAL homeowners, and nurturing happy employees is a great start to avoid resignation letters. 

NURTURING HAPPY TEAM-MEMBERS

RAL homes can leverage technology and training to improve their staff’s work experience and reduce employee turnover.

Creating rewards systems, giving positive feedback, building relationships and paying competitive wages fosters happy team members. 

We want to believe that every team member 

Employees want to do a good job and believing that they are doing the best they can make them feel productive and appreciated. 

A well-structured work environment promotes procedures and protocols that make employees feel connected to the mission of your RAL home. 

Do your caregivers feel like that actually matter to your business?

If not, being devalued is enough to make anyone quickly lose commitment. 

There are some effective pro-tip strategies to create an environment where employees find it difficult to disconnect. 

How many professional tips have your RAL home implemented to reduce employee turnover? 

11 PRO-TIPS FOR EMPLOYEE RETENTION 

1. Hire the Right People

Employee retention starts during the interview process. Hire people who are committed to the industry and avoid job hoppers. Search for employees who are empathetic, team-oriented and committed to customer service. Ask preliminary questions and look for indicators to ensure that the candidate is well-suited for the RAL industry. 

2. Give Positive Feedback

Maintaining a consistently high level of care can be challenging under certain assisted living circumstances. Employees require feedback. Constructive advice and positive feedback help employees stay motivated. Engage every employee on a daily basis. This means management must create daily touchpoints between staff and leadership. Interaction must be friendly, rewarding and aligned with the culture of your RAL home. Reinforce and reassure employees with performance management, communication, and collaboration modules.

3. Let Your Employees Grow

Many people enter the RAL industry without formal training. Provide training courses, workshops and online programs to enhance special skills. This is a great way to show employees that you are committed to their professional growth. Generate employee momentum and avoid feelings of career boredom – create new challenges. These are powerful incentives for employees to stay in for the long haul.

4. Challenge and Support Your Employees

Rewarding jobs are those that challenge employees while offering consistent support. Most people like to know what they are doing is meaningful, and this requires creating challenges. It is repeatedly proven that boredom leads to dissatisfaction. As a result, people transition to different jobs daily, seeking a sense of fulfillment. Strategic managers search for productive ways to encourage their employees to stretch beyond everyday routine. Push your staff to improve. People feel connected to jobs that lend a sense of life support. 

5. Encourage a Healthy Work-Life Balance

RAL jobs are demanding. Oftentimes RAL employees are required to work irregular and extended hours. This limits personal time with family and minimizes the opportunity for leisure activities. Management must remain conscious of creating an environment of healthy work-life balance. Demanding work responsibilities should go hand-in-hand with time off and flexibility. Do not take advantage of your employees – find ways to show appreciation and actively acknowledge their need for personal and family time. 

6. Offer Competitive Wages

Wages are diverse in the RAL industry. However, there is a correlation between compensation and employee retention. All employees want to receive competitive pay. Otherwise, they will consistently seek employment from the highest bidder. Offering higher wages may seem cost-prohibitive in the short term. However, considering the high cost of replacing employees, it’s often the best strategy in the long run.

7. Encourage Feedback 

Employees want to be heard. Sometimes employees feel frustrated when their opinions and ideas aren’t being taken into consideration. Management must maintain a level of interest in employee ideas. Always provide regular opportunities for feedback. In fact, encourage suggestions from employees. Allowing staff to share their opinions makes them feel valued.

8. Monitor Management

It’s often said that employees don’t quit jobs, they quit bad managers. If your managers do not create the kind of culture that employees enjoy, they will quit. Monitor management to ensure that they are communicating, and not just giving direction. Make sure that the employees are being heard. Otherwise, you are likely to experience a turnover problem and not know why. Just as your employees are expected to demonstrate effective soft skills, so is your management team.

9. Include Employees in Decision Making

Every employee wants to feel that they play a key role in contributing to the RAL home goals and objectives. Do not hesitate to allow employees to make low-level decisions. It is important to trust your employees with some level of authority. 

10. Be the Best

People want to know that they are working for a winning team. It builds a sense of pride. Be sure to build your RAL home brand in a way that makes employees proud to be a part of your team.

RAL ACADEMY KNOWS HOW TO LOWER STAFF TURNOVER

Staff turnover is expensive and leads to poor performance and management frustration. 

The Residential Assisted Living Academy teaches students how to succeed as new RAL homeowners, operators, and managers.

Does your management team know how to generate high staff retention rates?

During the 3-day course, instructors teach using an interactive live training approach that allows participants to walk away with successful strategies.

Visit www.RALAcademy.com to learn more about how to lower staff turnover.

Are you ready to employ a team of professionals that will take you RAL home to the next level for the long haul?