Group Homes are Making Millions?
Learn the Ins & Outs of this Untapped Industry with Myrrie Hayes
Making a play in an untapped industry is not only lucrative, but the knowledge and experience become your greatest assets.
In a true league of her own, Myrrie "The Group Home Queen" Hayes joined David on the Social Proof Podcast to educate the masses.
Driven by her passion to help people, Myrrie's hard work has made her a seven-figure businesswoman. She shares the game on how she took a 12.5K investment and turned it into a lucrative, passion-driven seven-figure business.
This subject makes for a conversation that's worth reading and sharing.
If helping people & Group Homes are your passion, take notes. This is a masterclass on how to create, run and manage a group home properly.
Who is Myrrie Hayes?
When introducing herself, Myrrie begins by paying homage to her parents by saying their names with respect and love. The youngest of sixteen children, a mother of six and grandmother of six, Myrrie's loving nature is apparent. It's obvious she takes pride in doing God's work.
Myrrie has risen to prominence because her group home system takes the most challenging cases from the severely mentally ill (SMI) community.
Maybe her unique advantage is her MBA or maybe it's her big heart, but whatever she's doing, it's working. She began with one group home and now owns ten.
This is blog post and episode are brought to you by
The Podcasters Bootcamp.
What is a group home?
Myrrie defines a group home as a residential facility where clients, or residents of no relation, have structured daily care for 24 hours. Each group home, depending on ownership preference, determines which demographic they will service.
Some choose children, adults, or elderly adults. From assisted living to behavioral health, the categories are various to help a wide range of clients.
Myrrie knew working with adult clients was the best choice for her. She chose the severely mentally ill, because she had an inner knowing. They were the most in need of love and compassion.
Of Myrrie's ten group homes, she has fifty-six clients that she and her team assist and care.
Loving & nurturing SMI clients
Myrrie bravely faces the stigma of severely mentally ill clients because she has a sister who was diagnosed as bi-polar schizophrenic. Witnessing her elder sister in a manic state, caused by a chemical imbalance, humanized severe mental illnesses for Myrrie. She gained an insight on how to assist her clients by understanding and not judging their condition.
"I don't try to diagnose anybody, I just take people as they are. Everybody is dealing with some type of issue."
-Myrrie "The Group Home Queen" Hayes
Myrrie was working at Wells Fargo when she felt a call to do more and make a difference. She and her sister decided to go into business together and get their first group home. Myrrie did the financial part and her sister, a nurse, did the clinical part.
Their journey began roughly. They on boarded a "group home consultant" who they later learned never owned a group home.
Discouraged by not defeated, they met another woman, ironically a colleague of the scamming consultant. She had the knowledge they needed and helped them get up and running.
With her help, Myrrie and her sister purchased their first group home, got it inspected, and became licensed. The lady who helped them became an esteemed colleague, who they are still in touch to this day.
Crunching the Numbers
As Myrrie was building her business, she got a phone call out of the blue from her eldest sister, who informed her she was coming to stay in one of her group homes.
Her sister wanted to pay her fees herself, and she paid the quoted monthly rate for three months. Although she discounted the rate for her sister, at the time Myrrie was charging 5K for each bed. Do the math on that.
Most assisted living expenses are out of pocket, with the government only paying a certain percentage to those who are eligible.
Myrrie infuses herself as she curate experiences for her clients.
Although they don't have to, Myrrie and her sister book equine therapy and other activities for them. These activities may affect her bottom line, but she doesn't care, because it positively impacts her clients, so it's worth it.
Sadly, while her sister was staying at the group home, Myrrie discovered she had cancer, and she transitioned while living in the group home. Myrrie was grateful for the time she spent with her. Our deepest condolences to her and her family.
The Business Model
The group home business model is unique. Through a variety of ways, finding clients has been successful for Myrrie. She's done standard posts within an online community and networking with county or state case managers. Her biggest success and been form forming relationships with the case managers and having them contact her when someone needs placement in a facility.
By having a successful management and executive team run her group homes, Myrrie has developed her brand and business beyond the initial vision. She began meeting other professionals who wanted to tap into her business. So she began consulting.
Under the leadership of Nehemiah "Neo" Davis, she made six figures in a month from her consulting business.
Additionally, this modest mogul has also begun a focused entry into the world of real estate with a focus on securing properties that would make good group homes for her clients.
As an owner of her eight of her ten properties, she is hoping to sell her business to the highest bidder. It just can be anyone, it needs to be someone who will care for her clients as she does.
Whatever path Myrrie Hayes chooses to take, she can feel comforted knowing her light has shined on those who need it most. If we all adopted her outlook and philosophy of life, it would benefit us all.
"When you're a blessing to someone else, you're going to get blessings back."
- Myrrie Hayes
Hit the comments and let us know your favorite part of Myrrie's story!