Choosing new location for your dental practice or opening a new clinic can be an overwhelming task. While most people would have you go for cheaper leases and offices with low per-square-foot costs, landing the best location for a new dental practice requires keen review of all aspects. Besides the office rent, you need to have proper visibility, accessibility and demographics to serve. Here are five tips to help you with choosing a location for your dental practice.
1) Compare the local competition
It is important to compare the number of dentists in the area with patients who need dental services. You can easily determine this by checking an online map of local searches against the dental clinics available. While some upmarket locations may seem attractive for business, it is possible to land much better opportunities a few miles down the road. Make sure you keenly review your competition to determine where you are edged out and how you can win names on their patient list.
2) Consider transit lines and parking
How far is the new location from transit lines? How much parking space does it have? These are important questions to ask when looking to start a new dental practice. It is recommendable to pick offices located on transit lines especially if your patients use public transport. Having a bigger parking space is also ideal for any dental clinic considering the mobility problems clients have. Parking lots should be easy to access and patients should only walk a short distance to yourclinic.
3) Visibility, accessibility and signage
The best dental clinics are easily accessible for anyone and have bold signs that direct patients. Walk-in clinics should have high visibility to avoid spending heavily on marketing. Check if there are other businesses and offices nearby that can bring prospect patients to your doors. Look at the major highways and transport routes to note how convenient reaching your offices will be for patients. How popular is the building in the city and can it be easily sighted from a distance? More importantly, is the design accessible with elevators and wheel chair ramps? Does it have special washrooms for the disabled? These are must-haves for any dental clinic.
4) Does it have your target demographics?
It is important to start the new dental practice in an area that has your target market. If you are offering pediatric services for instance, opening your office in an expanding city can be fruitful. Similarly, if you deal with cosmetic dentistry then you may need an upscale town where people find it easy to spend money of such optional services. The goal is to be located somewhereclose to people you need toreach.
5) Check if there exists a non-compete
Non-compete agreements are common in the medical world and might determine your next office for a new dental practice. Non-compete is basically a goodwill agreement that is written between two dentists, an older one retiring soon and a junior associate who will take over and own the old business. It may specify that the departing partner cannot open their clinic within 20 miles of the old business for a minimum 2 year period. Violating the terms of non-compete agreements may leave you liable to court injunctions, charges and compensations so you need to carefully read through all the terms.
Choosing the location for your new dental practice requires research and patience. Instead of rushing for low-cost offices, take time to map out the journey your customers will follow to reach your services. If you’d like the support of an expert team to walk you through the process, Practice Real Estate Group specializes in opening new dental practices. Our team knows the competition and helpsfind the perfect space to set you up for success.
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