Kaufman & Forman, P.C.
Call to arrange a consultation
678-957-7769 | 770-390-9200
Contact Us
practice areas

Buy a retirement community or start one from scratch?

Perhaps you work in a retirement community or have always had special reasons to want to own one. You have decided the time is coming, and the main question weighing on your mind is whether to buy an existing community or start one from scratch.

There are many factors to consider, and what follows is only a general overview.

What is available?

If there are existing retirement communities (or nursing homes or whatever specialty you seek) for sale that meet your goals, then buying may be the better option. The retirement community should have a good reputation. Beware of buying one with anything less because it could end up limiting how many people flock to the place. No matter the case, having a lawyer help with every step of the process ensures you cover your bases and are not left liable for any possible negligence on the previous owner's part.

When nothing is available

In many cases, there is not a property available that meets what you have in mind. Your options are to open a franchise or to start from scratch. All things equal, you are probably better with a franchise because there are many steps in the process of opening a retirement community or nursing home. To name just a few, you must worry about many types of insurance, certifications and legal documents. Having the help of a head company can be invaluable although it means limited freedom.

It could be that you would do just fine starting from scratch. Many people do. Assess your goals to determine which route fits them best. For example, if you want complete freedom to make your own decisions, that is a key consideration. Perhaps your goal is to build something small and close-knit where you will live as well. On the other hand, if your goal is to bring a nursing home quickly into an underserved city, then you may be able to streamline the process with a franchise and help people sooner.

No Comments

Leave a comment
Comment Information

Contact Kaufman & Forman, P.C. Now

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

get Legal Help Now

Kaufman & Forman, P.C.
8215 Roswell Road
Building 800
Atlanta, GA 30350

Toll Free: 800-461-5864
Phone: 678-957-7769
Fax: 770-395-6720
Atlanta Law Office Map

Review Us

Robert Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the May issue of The American Lawyer & Corporate Counsel magazine.Alex Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the December issue of The American Lawyer & Corporate Counsel magazine.

*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.