The Topic of my research paper is How to Start Your Own Assisted Living Business. I choose this topic because I have some experience in the health care field. I am a certified Medical Assistant and I wanted to take my education to the next level. The Health care job market is on high demand and is one of today’s most dynamic fields with a wide range of opportunities. I came to realize that the older you get in this country options for housing, health and personal care services become limited.
This information of choice fits in with my personal interest because I am very sympathetic, affectionate, and eager to soothe hurt feelings, and not to mention my leadership skills have always been great. An assisted living facility business takes hard work and dedication. In order for me to start my own Assisted Living business I would have to first obtain a specialized license in assisted living business. I must attend a required orientation by the licensing agency in the state where I would like to start my business. The Licensing Representatives will provide specific requirements about the licensing upon meeting with them. They determine the number of residents allowed according to the size of the facility.
The facility inspection process and the amount of operating expenses are required before launching the business. I’ll expect to pay a lot of money in startup fees for technology that will assist with scheduling, bookkeeping, management software, care schedules, etc. I’ll need the right technology to manage cash flow. If the assisted living business is going to be a small five to fifteen unit ill may be able to finance if by using money saved up to plan a large facility it will cost millions.
Having equity partners will be an excellent asset because the bank might not lend enough money that’s going to be need. In order for them to determine if they will give a loan or not, they will have to examine the business plan and model....
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