The below is a guest blog post written by Dr. Jonathan Everett, DDS.
Recently, we (Kirkland Family Dentistry)
moved our dental practice after 20+ years at the same location. This
massive project was made easier by following the steps that I’m going to
discuss below.
From the infancy stages of deciding we
were going to move our dental practice and finding a building until
move-in day was about a 3-4 year process. Your time may vary based on a
number of factors, particularly your local commercial real estate
factors and the availability of land and/or office space.
In this blog post, we’ll give you
dental practice relocation tips, as well as provide a dental practice
relocation checklist at the end of this blog post.
A Dentist’s Guide to Relocating Their Practice
Research shows that the US has more than 187,000 dental offices,
and the demand for dental services is anticipated to increase by more
than 6% by 2030. Now couldn't be a better time for relocating a dental
office to a neighborhood or city that is more accessible for patients or
has less dental office competition than your current one.
How long does it typically take to
relocate a dental practice, and what are the key steps involved in this
process? In this blog post, I will delve into the strategies and
insights gained from my experience overseeing the successful relocation
of Kirkland Family Dentistry, aiming to help you make your dental
practice relocation both efficient and effective.
When to Start Looking for a Space
Start
looking for a new space four to five years before you want to move or
your current lease expires. An earlier start translates to a less
stressful relocation experience.
Finding a Space Takes Time
Finding the right-size space near your current practice and at your
target price may take several years. Be patient. Don’t settle just so
you can get it done sooner. Plan ahead and give yourself more than
enough time.
Choosing A New Practice Location
You will consider several things when choosing a new location
for your dental practice. An experienced realtor who has worked with
commercial real estate, and preferably dentists, can be a huge asset.
Consider the following when choosing the best location for your practice.
Negotiating the Lease or Purchase
Negotiating a purchase or lease may
take several months. Be prepared to restart the process if your first
deal falls through, which is common.
Hiring a real estate agent with dental practice buying and
selling experience may increase your chances of experiencing a
successful deal the first time. Your new market should also have enough
referral offices to partner with. Let's say you're an oral surgeon. Look
for a market with multiple general dentistry offices that can refer
patients to you for dental extractions and other surgeries.
Keep reading the dental practice relocation guide.