If your medical practice has become more successful and you’re looking to expand, you may want to look into leasing office space. Choosing the right location and space is a big decision that you will want to really look into before signing your name. Here are some considerations you might want to make:
Consider The Space
You want to make sure that the space you choose is not too big or too small for your employees and what you will be doing with it. You’ll have to figure out if you are planning for even more growth in the future. Can the spaces you’re looking at accommodate that growth? You will need to think ahead and plan for the future of your company. Think about how you want your office to look like and how it will accommodate your practice.
Location is the by far the most important part of looking at any property. You want to make sure it is convenient for your staff and patients to get to. If possible, get a space near public transportation. If you want to pay a little less for a more remote location, make sure that the lower cost will be worth the business you might lose.
This will also mean a longer commute for your employees every day. Considering whether or not you should be close to other practices might be good as well. If there is an area in town that is kind of the “medical center,” you might want your practice to be in it. Sometimes hospitals will send physicians to a nearby location that is near their campus. This will also give you access to larger medical facilities in the case that you need better equipment or emergency services.
Length of Contract
You will want to consider the length of the lease. A longer lease will give you more power to negotiate. You will need to determine what you can afford first. This may take some time as you will have to carefully consider the current status of your practice and where you want it to go in the future.
Also, make sure to figure out whether it’s a month to month contract or a yearly lease. This will allow you to plan better as well as also to figure out what is best for your practice in terms of leasing. This will also dictate your ability to renovate the space to be more functional for a medical practice.
Getting a Broker
You may need the help of a professional. If you are not sure what you or your practice needs to be successful or you are new in town, a broker will be able to assist you with your needs. Hiring a broker with a medical background is an even better choice. This person will not only know the market value of medical offices in your area but will also have an understanding of the special requirements that have to be met. They will be able to find you a space that they know will be suited for a medical practice with waiting rooms, examination rooms, treatment rooms, and break rooms for your patients and staff.
Clinicube® is a shared office space for physicians and chiropractors. Get in touch today to see how we can help!