Category: Financial Wealth Through Group Homes

A group home for the elderly is a facility where older people live freely in a unit while sharing common rooms such as the sitting room and dining room. This company is for you if you don’t simply want to aid the elderly and vulnerable but also want to ensure that you earn money and optimize profit.

Make sure to read on if you want to know how to start a group home business. 

Get the Professional Certification You Need

Professional certificates are among the most important and required prerequisites for running a successful and quality group home for the elderly. Certain certificates are required by law, and you should strive toward obtaining them not only for yourself but also for your staff.

This demonstrates that you are serious about running the group home business for the elderly. When launching your own group home for the elderly business, you will need to obtain the following certifications:

• First Aid Certification
• Fire Marshal Certification
• Food Handler Certification
• Cardiopulmonary Resuscitation (CPR) Certificate

Get the Legal Documents You Need to Run Your Business

Regardless of category, every company must have specific documents to function lawfully in the United States of America, and group homes for the elderly are no exception. As a result, it’s critical to have all of the necessary paperwork in order before establishing your group home business so that you don’t endanger your clientele—the elderly—or your staff.

As a result, some of the essential legal documents that you would need to manage your group home for the elderly company lawfully in the United States of America are:

• Business Plan
• Certificate of Incorporation
• Business License and Permit
• Contract Documents
• Employment Agreement
• Surety Bond
• Insurance Policy
• Food Handler’s License
• Employee Daily Operation Schedule
• Employee Identification Number (EIN)

Raise the Required Startup Funding

Obtaining the proper funding for your group home for the elderly business. It would be irresponsible of you to start a business only to run out of finances halfway through due to poor planning. 

This is why it’s critical to prepare a thorough business plan since it will show you how much money you’ll need, but it will also help you figure out where you’ll acquire it.

As a result, while looking for startup cash for your group home for the elderly business, you should consider the following financing options:

• Making a bank loan application
• Borrowing money from relatives and family
• Using crowdsourcing to raise money
• Submitting grant applications to local and state government entities
• Raising startup funds from personal savings and the sale of personal stocks and real estate

Select an Appropriate Location for Your Company

You should study where you wish to operate your group home for the elderly before beginning your business. This allows you to determine how many comparable group homes for the elderly companies already exist in the region and whether or not the area will be able to support additional businesses like yours.

When deciding where to establish your group home for the elderly, you must consider several variables, including the city’s zoning laws, your company’s location, and who your neighbors will be.

Another thing you’ll need to figure out is whether you can turn your private house into an aging group home. 

Also, while your group home for the elderly mustn’t be located in a densely populated region with a lot of noise and traffic, that doesn’t imply you should select a place that’s too remote or too distant from main highways. This is likely a significant disadvantage in emergencies where residents require quick expert treatment.

The comfort and convenience that your group home for the elderly provides will go a long way toward attracting additional residents and, as a result, increasing your profits. Also, while picking a site for your elderly group home, ensure it’s close to locations your people frequent, such as churches, senior centers, drug stores, and a hospital.

Conclusion 

A group home can be a childcare center for children, an aged care facility, or another care institution. Learning how to start a group home in Ohio allows you to help individuals in need while still making a profit.

If you want to learn how to start a group home, Group Home Riches can help. Others are empowered by our example of how to create not only a livelihood but also a fortune by helping people in need. This is accomplished through free information on our blog and website and a free 10-part course on founding your own group home. Enroll now in our Gold Course! 

This hands down are most frequently asked question and the FIRST topic we ensure our ONE ON ONE COACHING clients understand before moving forward.

“What license do I need to get???”

There are a ton of different demographics that need to live in a “Group Home” setting, which is just a general term we use for any type of cooperative living housing arrangement, like sober housing, transitional living, halfway homes, senior housing, veteran housing etc. etc.

If you have ever considered offering this type of housing you probably had or have a TON of questions, the first one typically being this. Or some variation of it.

Or what type of certification? Or who do I need permission from to start?

If you ever started looking at any other content besides ours, you most likely went down a rabbit hole of legalese telling you how to start a licensed facility.

You know why?

Because your local health department, zoning board, or other consulting companies will most likely never tell you this:

YOU DON’T NEED ANY LICENSE

You don’t need permission from ANYONE!!!

Other consultants charge THOUSANDS and thousands of dollars to help you get through all of the paperwork required. Your local government is on a constant quest for more power, regulation and fees.

This is why you will not hear this information anywhere else!

What they won’t tell you is that you and your tenants are protected by a number of different FEDERAL laws and housing guidelines. You can provide housing to whoever you want, and typically put at least 2 people per bedroom as long as it’s a standard sized room for your area.

On top of that, if you follow the marketing material outlined in OUR GOLD COURSE (CLICK HERE FOR MORE INFO), the majority of your tenants will be in a protected class under the Fair Housing Act granting them extra protection under the law.

IT IS EXTREMELY IMPORTANT THAT YOU KNOW YOUR RIGHTS

If a local code enforcement officer tries to ticket you, or someone from the Health Department or zoning tells you that you cannot house (INSERT ANY DEMOGRAPHIC HERE), then you’re rights are BEING VIOLATED!!

It is up to YOU to know your rights and assert them!

You owe it to yourself, your tenants, and your community.

If you have ANY questions on this issue holding you back, then you need to listen to the very first video in the GOLD COURSE LEGAL SECTION. We are not lawyers, but Letonya is and we interview her with ALL of your most common questions.

She used to work at HUD in the Fair Housing department and has represented numerous landlords, investors and Group Home owners who have had their rights violated!

This is usually the 1st topic that we cover with our ONE ON ONE COACHING students. Why?

Because if you are worried about the legality of what you’re doing, how motivated are you going to be honestly??

Once you get your questions answered on this topic, it’s time to understand the main topics of THE GOLD COURSE, get your WEBSITE UP and get started networking with caseworkers in your area!

Not saying that it is easy, but it’s a much simpler business than you probably thought.

We’ve had students literally go from looking up “how to start a group home” on Google, purchase the GOLD COURSE, and within a few weeks they were up and running!

Have any questions holding you back from getting started? Email me!

Prefer to chat? CLICK HERE to book your free 10 – 15 minute phone consultation and we look forward to working with you!

You don’t need to see the constant headlines to know that this country is facing a crisis.

Do a quick news search for “affordable housing crisis” and you’ll see what I’m talking about.

But if you live in a populated area and look outside, chances are the symbols of this are walking around in front of you everyday – the men, women and children that just CANNOT AFFORD HOUSING.

Despite the BBBBILLLLIONS of 💰  getting thrown at this problem, the vast majority of landlords REFUSE to participate.

Like you possibly, they probably think that there is some special zoning approval, 6-12 months of certifications and licensing, and a bible’s worth of rules, regulations, and blue tape to get through.

They are imagining a house full of unmanageable, unqualified (meaning income, credit etc.) tenants that they are responsible for taking care of 24/7.

Then on top of that, they are daydreaming about chasing down not just 1 “qualified” tenant, but 10 – 15 people for the rent every 1st of the month! They just spent a year of people basically squatting in their properties, do you think they are excited about the thought of this??

Well, they, and possibly you, are 100% wrong about the whole thing!!

By the end of your 1st ONE ON ONE COACHING call, it will take our operational manager approx 45 minutes to eviscerate your misconceptions about this business.

You will learn why YOU DON’T NEED A LICENSE. You’ll understand the key concept of outsourcing.

You’ll understand how to get a GUARANTEED CHECK from the Government.

You’ll understand why 1 KEY document in the “Important Documents” section of THE GOLD COURSE will give you wayyyyyy more control over your property then the previously described, close-minded, $300/month in profit chasing landlord.

You will also understand why your monthly 💰  will be about 10x theirs 😉

By call #2 you will have enough confidence to get your 1st property because you now NEED a home. You followed your marketing assignment, have caseworkers, nonprofits and tenants ringing your phone off the hook to see if you have a property yet.

You are now an ASSET to these stressed out landlords. Not a confused, unproven, unconfident liability.

This is why they will literally GIVE you a property of theirs to operate out of with no money down if you can confidently say our pitch for landlords in THE GOLD COURSE.

From there, you’re onto stage 3 just managing the intake process.

It’s really that simple. Of course you’re going to want to fully understand the legal stuff, have the right paperwork, and understand the right systems to put in place. You need to know how to find these contacts, what to say to them, and having the same WEBSITE THAT WE USE won’t hurt either.

But we have had some members LIKE TASHA do this in the matter of 3 weeks!

William had not just 1, 2 or 3 properties under contract and a massive waiting list to fill them….BUT FIVE in his first THREE MONTHS!

There are a ton of how to guides, videos and sample material showing the way in THE GOLD COURSE but you honestly don’t even need all of that to get started.

Go LISTEN TO THIS CALL. That is exactly what to say if you know absolutely NOTHING about this business. That’s a live call with the director of a program that needed to house…..

THREE HUNDRED PEOPLE AT THE TIME OF THAT CALL!!!!!

You just call to get info. Introduce yourself. Let them know what you plan on doing. You could ask them all of your questions. Then let them pitch you on why you should work with them.

Imagine if you knew you had 300 people you needed to find housing for with government check in hand to AUTOMATICALLY go to your bank account.

Your problem is now trying to find enough Real Estate.

That’s a problem we look forward to seeing you have and we’ll help you along the way!

Have anything holding you back from getting started? Are you a GOLD COURSE MEMBER already and stuck on anything?

Email me!

Or CLICK HERE to book a free 10 – 15 minute consultation with our team today