Is it bad to be located near another dental practice?

As a leading provider of commercial real estate services for healthcare organizations and dental practices, Tower Realty Partners can help you find the right Colorado real estate for your practice. We understand how the process works, and we can help you re-locate or establish a new dental practice. Best of all, our commercial broker fees are paid by the seller or landlord, so you can leverage our services, virtually free of charge. Below we answer one of our frequent questions: is it bad to be located near another dental office. 

Logically, you might think so, but being located near multiple dental practices really won’t impact your business. In fact, it generally works out to be a benefit. The reason multiple dental offices are located in a given area is the strong market for their services. 

 

That being said, it certainly helps to differentiate yourself from the competition. Perhaps providing a variety of services or using modernized technology in your dental procedures can set you apart. Maybe you specialize in pediatric dentistry or cater to another patient generation. Anything that distinguish you from your competitors will help you increase your share in that geographic area. 

Providing exceptional customer service can also make your practice appealing. Answering all phone calls, providing a modern, comfortable waiting area, keeping appointment times on schedule, and explaining all procedures clearly could endear you to patients.

Achieving success as dental a professional, despite the presence of nearby competitors, depends more on running an efficient business rather than having patients leave for a competitor.  Monitoring expenses, encouraging patient loyalty, and providing superior service will have a greater impact to your bottom line. Location is critical in real estate, but that doesn’t mean location relative to competitors. 

 

 At Tower Realty Partners, we complete a demographic analysis when scouting potential office locations.  Understanding the area demographics provides insight to patient potential and practice success.  If you are looking to relocate or open a new practice, contact us to find the best location and real estate terms, whether you lease or buy.