“Wow, how lucky I am to find such a beautiful office at such a reasonable price!”
Aside from the salient features like price, size, appearance and whether there is an existing patient base, here are some other factors to discuss with your Broker. An experienced licensed real estate consultant is the most qualified person to help you get needed information to match yourself with a location designed for success.
- DO YOU WANT TO LIVE CLOSE TO WHERE YOU WORK?
- Will the seller help with the transition of patients? Do you want him/her to?
What do you know about the employees you may be inheriting? Will you want to replace any of them?
What services are the prior patients accustomed to receiving? Will you be able to provide those services?
How long has this “opportunity” been on the market?
What is the REAL reason the existing dentist is selling?
- What is the ratio of Comprehensive services to Problem-focused only services?
What are the demographics of the area within 1, 5, and 10 miles? The age distribution, property value, etc.
How do my practice philosophy and my skills match up with the demographics of the area?
Are there any inefficient or incompatible systems in the administrative or clinical area?
What other factors would YOU want to know before making a purchase decision?