Picking the location for your new medical space might be one of the most important business decisions you will make. After all, the real estate adage “Location, location, location” is vital to the overall success of your new practice.
Here is what to keep in mind when looking for the perfect practice location:
Population size is one of the most important aspects when considering the location of your practice. The denser in population in a particular region, the higher the chance your practice will succeed, as there are more potential patients in that area. If you work in a specified medical field, for example pediatric, consider opening your practice in a family-friendly and child-rich area.
Look around the area you are considering as your new practice location and ask yourself the following questions:
- How many medical practices are in the immediate area?
- How do they position themselves?
- Do you have any advantage, for example, additional certifications, over your competitors?
- What are their reviews, and are patients looking for a change?
When choosing your clinic location, consider parking, traffic patterns, and the accessibility of your office. The more convenient it is for patients to get to your office, the more likely it is for your patients to choose your practice over the practice of your competitor. Ask yourself the following:
- Is there a private lot, or easy street parking available?
- Are patients able to use public transport to visit your practice?
- Is your practice easy to find and visible from the streets outside?
- Are you able to mount signage to make it more clear where your office is located?
There are an indefinite amount of factors involved when it comes to finding the ideal business location and therefore it is recommended you work with an experienced real estate agent or business consultant to help you get your business started on the right track. Please contact Liberty Group Construction if interested in our business consultation services.