Care home

[Gagan2015]

Hi people!
So basically I'm looking to invest into the care sector and hopefully buy a care home( first Time Buyer) I have no experience of care homes so I was looking to invest in a well established one and which is manager operated, but I'm willing to learn. Has anyone got any experience in the care home Indursty? And pitfalls? Anything I should look for before making the decision to invest?
Thank you

 

[Christine Hough]

My mother is in a care home, I would strongly suggest you do not invest in the care home sector unless you know and care a great deal about the people it services and the ways they work.

It is very highly regulated, most employees are on very little wage and yet some are nothing short of angels in their consistent care and cheerfulness despite suffering physical and verbal attack and cleaning up shit all day long by people who no longer know what they are doing. Yet they respond with respect and genuine love and care. And when all is done they are often there at the end as those they have cared for pass away.

These people are not motivated by owner/managers who do not share their vocation. There are easier ways to earn minimum wage and without employee loyalty I doubt there is a sound business investment either.

At the very least get to know it before investing. Preferably get a job as a carer in cogneto and learn what it is really about.

 

[MikeJ]

Hi people!
So basically I'm looking to invest into the care sector and hopefully buy a care home( first Time Buyer) I have no experience of care homes so I was looking to invest in a well established one and which is manager operated, but I'm willing to learn. Has anyone got any experience in the care home Indursty? And pitfalls? Anything I should look for before making the decision to invest?
Thank you

Seriously? You've going to invest in something you've no knowledge of?

 

[Cypriot]

I think it is a brilliant idea , and i am glad someone started this forum so helpful things you need to take in consideration maybe a lot but once you in it sure you will do well... in my company we look after many care home's utilities and it is very delicate work as they say not easy to find the right caring people to work for you..

 

[dmckellar]

i think going in with your eyes closed you are going to get burned along the way.

Not the easiest job to just buy over and expect to run smoothly, you'll have no idea of regulations etc. Unless you can bring someone on board with you who you know has experience i wouldnt touch it