Dentagraphics

Where is the best place to open a dental practice?

 

In short, retail office space is the most common and reliable, followed by a condo/suite, and then a ground-up building. But that's probably not what you're looking for.

Assuming you're a General Practitioner, and are really trying to gauge as to where to open your practice, consider a few things:

1. The Demographics of the area

2. Your Competition – #'s & Strengths

3. The Current & Expected Growth

4. City Planners and Developers – What they're saying. Where the money's going.

5. The location as place to live, as a place to raise a family

All of which are included within your Dentagraphic Report –

As you narrow down with you Real Estate agent, however, you'll want key-in around areas that have:

· Coming Developments & Shopping Centers

  • Large-chain grocery stores will constantly drive growth to an area
  • Stores warranting weekly trips (gyms, grocery stores, drug stores)
  • Ever-popular food chains (McDonalds, Chic-Fil-A) have an extremely low fail rate

· High Traffic Counts

  • Essentially large-chain stores and food chains bring one thing – traffic
  • More traffic = more eyes on your practice
  • More traffic = more convenient for a customer to visit

· Schools

  • With over 1000 students, parents and kids both find a nearby practice convenient
  • A yearly-changing student body keeps the population fresh
  • Mom's who frequent, who make 70-80% of the healthcare decisions in each household

Don't forget to keep the key demographic variables in mind, however. As lucrative as a 2000 square foot retail space nearby a Wal-Mart may be, it may carry a Dentist/Population ratio of 1/1000, with a population you may not wish to treat.

Related Articles

How important is the location for your dental practice?How important is the location for your dental practice?
What are patients saying about the practices they don’t like?What are patients saying about the practices they don’t like?
Buying a Dental Practice Shouldn't Be This HardBuying a Dental Practice Shouldn't Be This Hard
The Pros and Cons of Rural Dental PracticesThe Pros and Cons of Rural Dental Practices
The First Step to Opening a Dental PracticeThe First Step to Opening a Dental Practice