Why The Group Home Business Is The Best Investment You Can Make For The Next Downturn
If you are in the market for an investment that will be able to sustain you and your family during economic downturns, you have probably already been exploring a wide variety of opportunities. Most people start off by looking at the restaurant industry. Take McDonald’s for example. According to various online sources, one would need over $1,000,000 to open a McDonalds! You may be overlooking the power of starting a group home.
Now let’s ask a simple question, is spending $1,000,000 and even finding the time to attend McDonald’s University, raise the money to get the franchise and then going on to make $70,000 – $100,000 a good use of your time and money?
For some people it maybe is! But for the average person out there, without access to $1,000,000 or without the knowledge to obtain a $1,000,000 loan to buy the McDonald’s Franchise, this may not be the best investment.
So let’s assume you drop down and look for a cheaper alternative like a Jimmy John’s or a Subway. Guess what? You still are going to need to spend $200,000 – $400,000!!!!
This is A LOT of money! Let’s not forget that you are going to need to sign a commercial lease that you will be on the hook for and which will most likely cost you $3,000 – $10,000 per month! In fact, I knew of an entrepreneur back in 2006 who went out to the marketplace and spent all of his 401K on a “Which-WICH Sandwich” franchise. A year or so later when the recession hit, his landlord was locking up the building and wound up suing him! Talk about high risk! You deplete your entire savings account to the tune of $500,000 with the goal of making $30,000 to $50,000 per year! Now yes, this is a better return than you will obtain from your savings account, but to me, this is foolish!
LET ME TELL YOU WHAT I AM DOING AND WHY IT IS THE SINGLE BEST AREA TO INVEST
Since 2006, we have been running care homes, group homes and assisted livings for a wide variety of specific populations and demographics. Some homes are set up for the elderly, some homes are set up for the deaf and some homes are set up for others with special needs.
What we do is provide these folks with a roof over their head, 3 meals per day and all of their utilities (TV, Telephone, Water, Gas, Electric) in an “ALL-BILLS-PAID” environment. Depending on the home, we will charge anywhere from $550 – $1,500 per month per person.
Most of our clients have roommates, so on an average 3 bedroom home, there would be six clients paying $550 – $1,000 per month depending on the level of care that we provide. Do the math! This business cash-flows like crazy and there is ample demand for our services.
The best thing? You can pick and choose the demographic you want to target. There are literally millions of people that need your help today. Traveling nurses, retirees, students, the blind, the deaf, the disabled, Ex-Offenders being released from jail…..the list is literally endless!!! Just check out the following stats from various sources:
PROVIDING AFFORDABLE, LOW-COST HOUSING TO THE ELDERLY:
In the two charts below, you will see that the average American family over 75 years old only has $69,500 saved up. The other chart shows you just how many of them there are in this category. The total population of Baby Boomers? 30 – 70 MILLION baby boomers are now entering retirement! And guess what? They need a low-cost alternative to their $1,000 per month apartment and $500 per month food bill! Imagine what happens when they begin factoring in their phone, television and utility costs? The next thing you know, they are spending over $2,000 per month! And this is completely unaffordable for the vast majority of baby boomers. In our group home business model, we provide all-inclusive housing options starting at $550 per month! It is the easiest sell in the world as there are literally tens of thousands each day that need our services!
PROVIDING AFFORDABLE, LOW-COST HOUSING TO THE UNEMPLOYED:
You may be asking yourself, well why would I provide housing for someone that doesn’t have any income? Great question! But when you look into it, you will quickly find out that these “unemployed” people make up a HUGE percentage of the population. Just take a look at the below graph showing the percentage of people that have been unemployed for over 27 weeks! It was nearly 50% just a few short years ago, and I can assure you that it is still sky-high. These people WILL NOT be accepted at a normal apartment complex…and that is where you come in. They need housing and actually DO HAVE THE ABILITY TO PAY! I would venture to say that at least 50% of the unemployed population receives some type of check from the federal government in the amount of $600 – $1000 per month. With that money, they can afford the low-cost housing option that you will provide
PROVIDING AFFORDABLE, LOW-COST HOUSING TO THE DISABLED:
In the niches, there are riches as the saying goes. And if there is a niche that you can make an absolute fortune in, it is this one shown in the chart below. Take a look at the “EXPLOSIVE GROWTH IN SOCIAL SECURITY DISABILITY BENEFITS.” Remember, these people all need housing and related services, and every last one of them is receiving a check from the federal government which can be used to pay for their rent!
LET ME ASK YOU A QUESTION
During the next economic recession would you rather own a Jimmy John’s that cost you $400,000 to get started and will rely on your ability to sell $10.00 sandwiches or would you rather depend on a Group Home that cost you $1,500 to start and has clients lined up ready and willing to pay you $550 – $1,500 that comes in from a guaranteed source – i.e. the Federal Government?
There maybe some of you out there that would choose the Jimmy John’s. But for the remaining group of people that don’t have $400,000 saved and don’t want to rely on selling $10.00 sandwiches during a downturn, the Group Home and Care Home business, in my opinion, is the single best business investment you can make.
The best time to prepare and get started is NOW. There are literally tens of thousands of people needing a place to live today. Why not go out there and start helping them and get paid for doing it? You can literally go rent a home, purchase some furniture and get some marketing collateral put together and have thousands of dollars of free cash flow hitting your bank account next month. It is a SUPER SIMPLE business that anyone can run and you don’t need a ton of money to get started. Are their hurdles and pitfalls? Sure there are. They exist on the road to success! Can you do it 110% on your own? Yes, without question. Can you do it with the help of a mentor and consultant that has done it before and is currently, doing it? Yes you can! Why would you chose a mentor to help you out on your path to setting up your very first care home or group home? Because you will be able to accomplish more in less time! Remember, time and speed are money. They are the new currency. And if the bottom drops out on us in this economy, you want to be the one with 1,2,3 or 20 group homes running simultaneously with a waiting list of clients. You don’t want to be the person on the sidelines still trying to figure out how to get it up and going like a NINJA – NO INCOME, NO JOB, NO ASSETS. For that reason, speed always wins! Find a mentor or a coach that can get you into the business. Remember, a formal education may get your rich – but self-education will make you a fortune! Educate yourself on how to get started in the group home and care home industry and start insulating you and your family from the vicissitudes of the marketplace!
If you are looking for additional information on how to start a group home, care home, elderly home, halfway home, transitional living home, sober home, foster home, ICF/MR home, DADS Home or other type of care home for people with disabilities; check out our free course on starting your very own income-generating group home by entering your email below or going to www.grouphomeriches.com and clicking on the free wealth building course.
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