By Steve Moran
What if the only thing standing between you and next month’s rent was how well you treated a resident today?
Of course, that’s not how senior living actually works.
We don’t lose a resident because of one bad Tuesday, the way a restaurant loses a customer over one bad meal. Most residents stay for life once they’re in. But a Wall Street Journal article about Texas Roadhouse got me wondering what would happen if we operated as if it were true.
Right now, senior living is facing a ton of problems operators have no control over. Staff acquisition and retention, increasing labor costs, increasing insurance costs, increasing food costs …
Most operators have dealt with it by increasing rates, which has largely worked out due to rising demand, but in the long term, one can’t help but wonder whether this cycle is sustainable.
That’s the backdrop I had in mind when I read a Wall Street Journal article about Texas Roadhouse, the number-one casual-dining chain in the US. There were so many good things in that article that it will become a short series.
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