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So you’ve made the decision to open, move or expand your own medical practice or facility – what now? You need to find space! But should you rent medical space or purchase an existing space? We talked to Mark Porter, Senior Director of Leasing for Phillips Edison & Company, to find out why leasing a medical space makes a lot of sense for many medical practitioners.
1. Enjoy built-in customer base
Medical space ...
What advice does a new medical practice owner need to hear when considering leasing medical office space? Here's our list of questions that any medical practice owner should ask themselves in preparation of finding the perfect medical office space.
Questions to ask when you are looking to open a new medical practice:
Is your type of business missing in the area? Meaning, is there a need?
Is your type of business missing in ...
Veteran business owners and new entrepreneurs alike know how important location can be to your success. Whether you are opening your first medical practice, or expanding your business and looking for medical office space to open additional locations, you should know the answers to these five fundamental questions BEFORE leasing medical office space:
Business Plan - Do you have a business plan? This will be a good indication o...
Starting your own medical practice can be scary and the wide variety of information and host of opinions and advice can get a
little overwhelming. To simplify, consider the 5 simple P’s:
Product - You need to figure out what your business is going to sell and make sure it is a quality product. Does your product provide more value than your closest competitor?
Price - Determine the right pricing for your product. You want to ...
Are you planning to sign a lease to open your new medical office soon? If so, here’s 5 terms that you might see in your new medical office space lease. Understanding these terms will help your new medical office opening go more smoothly.
NNN (also known as Triple Net) – Many leases are what’s called triple net (NNN). This means that in addition to rent, the tenant also pays a share (usually its “pro rata” share – see belo...