Consider your area of expertise and interest before opening a group home.Every state is different, and group home requirements vary depending on the group you plan to serve.
Look into commercial insurance policies that include a general liability policy, workers' compensation and professional liability insurance.
These don't need to be in place until you open your doors, but it is wise to get the process started.
As with any small business, getting a group home up and running requires a significant investment.
Providers who pursue sale-leaseback financing can capture the full market value of their real estate and use these funds to fuel their growth.
For elderly group homes, seek licensing specifics from your state's department of aging and disability services.
A group home for individuals suffering from autism, Down syndrome and other severe developmental conditions is licensed through the state department of developmental services.
S., don’t expect that starting a community-based home to be an easy way to “get rich quick”.
Operating a residential care home involves long hours, significant expense and plenty of frustration, so it’s best to get into the business for nothing other than a passion for helping vulnerable people. Just like in any real estate transaction, it all comes down to location, location, location.
Leases are highly customized to meet a provider operational goals.
Depending on your situation, becoming a registered provider with the state will give you access to numerous benefits and resources. While our country’s growing elderly population will create a growing demand for smaller, more home-like family settings for seniors in the U.