Today, we are going to simply review some statistics about the United States as well as some additional important points on how to start a residential group home and how to keep your business running profitably.
I can’t stress how important situational adaptability is for group home entrepreneurs. The ability to see that your plan does not fit the current situation, and a minor pivot is called for in order to resolve the issue. Unfortunately, we have this beaten out of us by the school system because we are so used to stick to the guidelines and throwing away all of our creativity that we forget we can always find a way.
The Narco Freedom is the number one outpatient sober home and substance abuse recovery home in the new york area. As a matter of fact, according to tax returns, Narco Freedom had revenue of $46,700,000 in 2011. What are the profit margins? We don’t have access to that information, but 20% – 50% is not uncommon.
I was thinking about the importance of this today because often times running your own business can be solitary and also somewhat somber!
BABY BOOMER NICHE CREATES UNBELIEVABLE OPPORTUNITY FOR CARE HOMES AND GROUP HOMES
This lady needs an affordable place to live! Why? Because she can no longer afford her apartment and miscellaneous costs which average over $2,000 per month.
Simon Sinek has a wonderful book and Ted Talk on the importance of starting with why. This topic is extremely relevant when it comes to running a successful Group Home Business. You probably have a clear idea of what you want to do with your business, and you are on our site learning how, but the piece that is often forgotten is the “why”. We want to make sure that your why is front and center.
Are you sure you really do? If so, let me first define what group home is. A group home is a private residence, a home where a small number of unrelated people in need of care, support, or supervision that can live together.
No one goes on to succeed without first passing through strong rejection. No one is exempted to this rule. You have a dream of starting a group home. You can picture all the people you are helping and all of the money you are making but do you understand what it takes to get there? Do you know that nothing great comes easy? Well, it is time you fight for what you want. The reason why few people create the life they want is because they stop fighting. They stop putting in the work because someone told them no. Anyone who decides to start a group home runs into this issue.
WHY IS MATTHEW PERRY STARTING A SOBER HOME?
There are a few answers to this simple question. To begin with, we recommend reviewing some of our previous postings here on the website. What you will find are three things:
The problem with money is that our society often thinks of it all wrong. It is hard to learn the truth because we often learn from our parents and they learn from their parents, and the school system has no interest in helping us learn about money either. Moreover, everyone around us is selling an idea about money that rich people simply don’t follow. Wealth is built on an entirely different set of rules than what society typically follows.