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Anyone own a retirement home

Discussion in 'Business Forum' started by cb1, Jun 28, 2009.

  1. cb1


    Jan 2, 2005
    central Mo
    I have given thought to opening a home for the elderly. I live 100 miles from St Louis and would like to provide a service for those that can not afford the high cost in the city. I have 3 daughters that might like to be nurses. I am not looking to make a fortune. Just a family bussines to keep me closer to my family than my job does now. Thanks in advance, CB
  2. X-ray Dave

    X-ray Dave

    Mar 16, 2005
    Don't own one, but work takes me to several. From small group homes to large 150 bed corperate owned facilities. A few things to look into. Can you operate that kind of business where your building is located? What kind of inspections, permits and fees? How often? How much remodeling will need to be done? What about handicap access? Are there enough bathrooms and do they need to be handicap accessable? Is the kitchen large enough and is there enough space for food storage? Any special inspections, fees, permits for the kitchen? Will you need an RDA to oversee the menu? Will one washer & dryer be enough? Any additional fire safety requirements?
    How many employees will be required for the number of residents? Do any of them need to be CNA, LPN or RN?
    Will you need to provide physical, occupational or speech thereapy? How much staff will be needed overnight? Will recreational activities/outings need to be provided?
    Will you need a lift van to transport residents ? What kind of license/insurance will the driver need? Is there enough parking? Any possible impact on neighborhood?
    How will meds be stored ,accounted for and given out? Is there a Dr. that will visit and be available on call? What requirements are mandated by MEDICARE, State, County & Local agencies ?
    All these things can vary greatly based on location , number of residents and type of home. The names and definitions of "care home", "assisted living" and "group home" can vary. Most areas have a shortage of places. Take a look at how many are in your area and how crowded they are. Meeting the requirements of many agencies is a challange, but the amount of regulation can vary State to State. PM me if you have any questions.