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Updated almost 5 years ago,
Will boutique assisted living thrive after this?
Hello BP Mates,
I've listened to a couple of podcasts about turning large 6+ bedroom houses into assisted living facilities and there is massive profit involved. Although the barrier to entry is rather high compared to traditional strategies.
COVID-19 decimated many assisted living facilities because there are large populations of the most vulnerable people existing close together.
I wonder if boutique assisted living will thrive because demand will surge? Is it more efficient to mitigate and control infection if there are only 5-6 people within the same residential facility as opposed to 50+ in a commercial facility? Will adult children feel their aging parents are safer AND more comfortable in a 4,500 square foot home rather than a multi-building campus on a couple of acres? Is it easier to enforce social distancing with this strategy? If so, is this message marketable?
It would be great to get your perspective, especially if you invest in healthcare\assisted living businesses now.