Real Estate: Should You Buy or Lease?
When opening or adding an additional location, it is important to consider the pros and cons of buying versus leasing office space. While both options have their advantages, owning real estate can offer significant benefits. One of the primary advantages of owning real estate is the potential for equity growth. As property values increase, so […]
How to Choose a Dermatology Practice Location
The first thing you need to consider is what services you want to offer and what kind of patients you are targeting. There are a variety of factors here. First you should consider geography – for example, do you want to be in Illinois to target farmers who may spend a lot of time in the sun? You should also think about age range – do you want to be in an area with growing families to help children with breakouts and skin problems? Lastly, consider the income range of the area and if your potential patients can afford your procedures, especially if you want to offer expensive medical spa options. You should also consider if you want to offer more than just services and you would like to include a retail storefront as well.
Assembling a Professional Team to Help Establish a Practice
Early on in selecting a cosmetic practice site, assembling a professional team to facilitate the process is crucial. These disciplines include a contractor, a real estate broker, an equipment seller, a technology expert, a bank and perhaps an architect. “You might also hire a consultant to help you get things going,” says Austin Wheeler, a […]