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Information on Starting an Assisted-Living Home

Senior citizens will make up 20 percent of the U.S. population by 2030, according to Forbes.com. Life expectancy is getting longer, and as people get older, they may need round-the-clock care. Assisted-living homes provide this care.

  1. Startup Costs

    • Startup costs for assisted-living homes average roughly $11 million, according to Forbes.com. This cost includes equipment, furniture, marketing and the land needed for the facility. Banks may lend half of the land's price, but you'll probably need equity partners to help with the additional cost.

    Technology

    • Yardi, Eldermark, or ResiDex may have software that fits your needs when starting your assisted-living home, according to Forbes.com. This software can do anything from managing residents' care schedules to creating financial reports. Training and implementation for this software start at about $30,000, as of 2010.

    Consideration

    • Obtaining all necessary permits to run an assisted-living home could take up to a year. You must prove that you have a corporate structure and that your facility fits within the state's zoning laws.

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