Quote from @Joshua Bautista:
Hey guys, I am opening a senior care home and I am choosing between independent living and assisted living. I was wondering if someone would be kind enough to share their balance sheet with me because I am trying to see if it makes sense to do it.
In addition, I have a partnership opportunity in which we have a pre inspected/renovated home that adheres to the assisted living regulations and the owner is looking for a partner that can provide the show money (will not be used) to the banks. The owner has one other facility that she is currently managing and her money is tied up on that one.
Hey Joshua! Independent living and senior care are quite different where independent living you shouldn't need nearly as much staff or provide any care. You MIGHT provide meals or other life enhancing services, but you'd be hosting completely able seniors.
Senior care on the other hand requires 24/7 staffing as the definition of assisted living is needing help with 3 or more daily activities, whether that's bathing, eating, walking, toileting, etc.
Because of this, the rates for independent living are far lower than senior care as you aren't really providing the service. While I know of homes that work for independent living, usually seniors and their families are looking for more individual apartment style for that, whereas with assisted living, a home like environment is more desirable.
Feel free to reach out about the other opportunity with more details, my partners and I might be interested, especially if it is an operator we know in the area!