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In this video, Brandon Gustafson, investor, owner, and operator of two residential assisted living facilities, provides an overview of the foundational steps to setting up an assisted living business, specifically focusing on the importance of legal structures. Brandon emphasizes the need to consult an attorney to ensure that business structures are established correctly, explaining the complexities and liabilities involved in assisted living operations. He compares different business entities such as LLCs, S Corps, C Corps, and sole proprietorships, advising against sole proprietorships and C Corps for small operations. Brandon also suggests considering separate entities for real estate and operational facets of the business to protect assets. He shares insights into cost ranges for setting up these entities with professional help.

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Learn more about Brandon’s facilities at: http://www.beewellassistedliving.com/