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How to Increase Your Assisted Living Profits | Finding High Paying Residents - Ep 68
Manage episode 445764284 series 3491895
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In this episode, we explore strategies for increasing your monthly net profit in Assisted Living by targeting affluent customers. Brett Chotkevys highlights the importance of positioning your business in areas where customers can afford high-end care for assisted living and memory care services. Location is a crucial factor, and Brett explains why moving your business to areas with wealthier residents can significantly boost your profits.
The discussion focuses on finding the right market and customers, emphasizing the need to prioritize quality care and a premium product. Brett also explains why it’s essential to think beyond land costs and instead focus on securing higher bed rates. By offering a luxury product in the right location, you can create a thriving business with the ability to provide excellent care and still maintain strong profitability.
Additionally, Brett shares insights on how working with investor partners can help you scale your business and take advantage of high-profit opportunities. If you're looking to grow your Assisted Living business and enhance profitability, this video provides valuable advice and actionable steps to help you succeed.
#IncreasingProfit #AffluentCustomers #AssistedLiving #RAL #SeniorCareBusiness #MemoryCare #LuxuryAssistedLiving #SeniorLiving #WealthBuilding #BusinessGrowth
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Assisted living investing, Residential Assisted Living, small facilities, passive income, myth debunking, challenges, limitations, active involvement, owner-operators, staffing, emergencies, quality care, scalable business model, 16-bed luxury memory care mansion, informed decisions, behind-the-scenes insights, thriving niche, One and Done, Financial Freedom, Active Income, Making a Difference, Long-Term Exit Strategy, Real Estate, Retirement Planning, Memory Care Mansion, Investment Opportunities.
Intro Music by Alex_Kizenkov via Pixabay
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