Houston is a big place. Open your Medical Practice in a location that makes sense.
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So, you’re thinking about opening a medical practice in Houston? Opportunity exists here, but it’s important to do you’re homework to ensure you don’t miss the mark, especially if this will be your first practice.
Deciding on where you want to open your practice is a huge part of developing your business plan. Your patient base, marketing plan, future employees, and competitive landscape are all dictated primarily on where you choose to open your practice. Narrow your search by answering a few key questions:
Who is your target customer?
Having a clear vision for who your practice will serve is central to defining your place in the market. Start by building a demographic profile.
- What age are they?
- Male or Female?
- Does their income level matter?
- What kind of family, if any, are they likely to have?
When opening a medical practice in Houston, specifically, you’ll want to consider how you’ll cater your services and practice to your key demographic.
What areas of town are realistic for you?
The next step in narrowing your search is to use yourself as a filter, especially if you’ll be the primary doctor at the practice for several years.
How far are you willing to commute to work everyday? How far would you like to commute? Are you willing to relocate your home for the right office location?
If you’re willing to relocate, what is important about where you live? Schools? Ease of access to shopping and restaurants?
What does the competition look like?
Once you’ve narrowed your geographical areas down, its time to do some research.
For most practices, you can use the ratio of target customers to practices within an area to compare areas against one another. What defines a good ratio differs between practice types and regions, so it can be helpful to consult someone knowledgeable on the current market.
Practice Real Estate Group offers these both these competition and demographic reports as well as larger area surveys to our clients for no charge. Additionally, working with us (or any tenant representation broker, for that matter) comes at no cost to you; the landlord pays both brokers in the same way that a seller in a residential transaction pays both the buyer’s and seller’s agents.
Find Medical Offices For Rent in Houston
Looking to go right into searching for a location for your practice? Fill out our 10 question search form below to get us all the information we need to kick off a search for you quickly.