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.
- Critical Systems
- Communication Systems
- Security Procedures
- Preventive Measures
- Developing Guidelines
- Workforce Flexibility
- Continuity
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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
- What is residential assisted living?
- How do I start one from scratch?
- Are there strategies to buying an existing residence?
- How do I find a home, fund a home, and fill a home?
- Is it possible to own and operate a residential assisted living home without needing to be on-site?
- Will I be able to find the right staff to run a smooth operation?
- What are the professional marketing tips I’ll need to know to keep my home filled?
- 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.
