How Your Real Estate Choices Affect Your Practice Value
While not often discussed explicitly when searching for a location, the real estate you choose for your practice can have a significant impact on the value of your practice in a sale. Real Estate is One of Your Largest Fixed Costs Real Estate is Typically the second or third largest cost for a practice behind …
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Choosing Real Estate For Your Practice: Is Retail Right for You?
Choosing the right location is vital to the overall success of your practice. Why are more and more health and wellness providers choosing retail space? Is it the right choice for you? Most medical providers traditionally have utilized office space or standalone buildings and condos for their practices. Today, it seems like there are providers …
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Choosing a location: Demographics and Competition
How are demographic studies used to help choose good practice locations? We use demographic studies in a couple of ways to help clients find good locations. The first is breaking down large areas into sub-areas. We then compare those chunks on important demographic variables for the client. We often use variables including but not limited …
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Moving to a New Space vs. Renewing Your Lease
Deciding whether to move to a new space or to renew your current lease can be a challenging decision for even the most experienced business professional. It can also have a huge impact on your business. Ideally you have at least 18 months before your lease is expiring. Creating a plan of action well in …
Real Estate Investment Options for the Medical Professional
Understanding how to profitably run your practice is the first step; determining the best way to utilize your income for long-term wealth is the essential next step.
Maximizing Your Negotiating Leverage
In general your leverage in a negotiation is grounded in your next best option. There are, however, several key factors that determine your leverage in any given negotiation. We find that these factors fall into three groups of variables: the market, your business, and your search. Before we get into those, though, it can be …
Your Yearly Lease and Real Estate Check Up
Being smart about your commercial lease can save a lot of headaches and money later, and open up easy-to-miss opportunities. We recommend an easy, four-part strategy: Track Important Lease Dates Many people make the mistake of assuming the only dates that matter in a commercial real estate lease are the start and end date. However, …
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