What Does It Take to Start Your Own Dental Practice?
Beyond the obvious intangible requirements for success as a dentist, such as education, superior technique, and people skills, there are a few more set-up tasks to be aware of. As experienced healthcare real estate professionals in Colorado, Tower Realty Partners is here to help you find the ideal place for your dental practice. Check out our dental start-up tips as you open, expand, or relocate your successful small business and dental practice.
How to Set Up a Dental Office in Colorado Springs: Your To-Do List
- Outline your operating expenses: These generally include property tax, CAM (common area or lobby maintenance), property insurance, and utilities. Your lease payment may be all-inclusive or you may need to pay each separately.
- Select the right commercial lease type for your dental clinic: The typical commercial lease for dentists is the NNN (Triple-Net) lease, where you’ll pay a monthly base rent plus certain expenses. A gross lease, however, works more like a residential rental. Either type can be full-service or modified. We’ll negotiate for the best dental office lease terms on your behalf.
- Consider purchasing commercial real estate: Buying property for your dental business can have advantages, but there are many variables in the calculation. Timing is key, of course, and based upon current local market conditions, your future business plans, your overall financial picture, and more. Experienced commercial real estate pros can help you do a comparison of leasing vs buying commercial property for your dental practice.
- Choose the best location, location, location: Consider the right part of town to set up your new dental office. Also, think about the type of structure. For some dentists, a large office building works well, while others prefer a smaller, self-contained, single-purpose building. Let our team help you strategize.
- Create your ideal dental workspace: You’ll need a comfortable, attractive, and functional office workspace and our team makes sure you get it. Lean on our in-depth experience with commercial leases for medical and dental professionals to lease the perfect office space at a low cost. We can also help you plan for commercial tenant improvement dollars (TI dollars) to customize the space, which may be paid for by the landlord.