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Buying An Elderly Care Facility: Does The Location Matter?

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Comments & Replies: 1     Views: 2727     Posted By: Broker/Consultant  

Does the location of an elderly care facility matter when buying this type of business? Joel Miller (an Elderly Care Facility Specialist Intermediary & Consultant) feels it's very important for many reasons - many which you probably hadn't thought of. Before buying a care facility - read this post.

Topics: Buying A Business     Tags: buying a business


Contributor: Broker/Consultant: Elderly Care Services

I can't count how the times I have heard the term “location location location” when considering buying a home? Where’s the local schools, is the home close to shopping, is there open space behind the home, and on and on. Yes, location is important when considering buying a residential home, but how about the location of a business? Is it important to have your business on Main Street America, close to a freeway off ramp or centered in an industrial area with supporting businesses?

In the world of Elderly Care Facilities, the location of your facility is something to strongly consider. How far away is the closest hospital, area Doctors, Hospice Agencies, skilled nursing facilities, and conveniences such as shopping centers and drug stores? Is the facility supported by a well established community with an aging population? What freeway corridors support the facility?

Family members of Elderly Residents often make their decision on where to place Mom or Dad on how convenient it is for them to visit the facility.

Do your research when considering a care facility and have a solid understanding of the demographics. Important info to find out: average per capita income, vehicles traveled per road to age brackets in a given area. Consider visiting a local hospital or speak with Placement Agencies to find out what areas in your county have the biggest needs.

Location can be overcome with a solid business, quality service and excellent reputation but have a location that is conducive to ease of success makes life a little easier.


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