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Avoiding Real Estate Mistakes: Essential Tips for Dental Startups

Opening a new dental practice is an exciting journey, but one of the most crucial decisions you’ll make is regarding your real estate. In the latest episode of “The Startup Dentist,” Stephen Trutter, CEO of Ideal Practices, shares invaluable advice on avoiding common real estate mistakes that can cost new dental practices thousands of dollars.

Lease or Buy: Stephen also breaks down the decision between leasing and buying. While owning real estate can be a great long-term investment, it’s not always the best option for a new practice. Leasing often provides more flexibility and requires a lower initial financial outlay, which can be crucial when you’re just starting out.

Visibility: Real estate is not just about finding a location with the highest visibility. Stephen emphasizes the importance of strategic positioning over simply securing a spot on the busiest street corner. Flashy locations with high rent can drain your resources, whereas a strategically chosen spot, even a block away from the main street, can offer significant savings without sacrificing patient access.

Representation: Proper representation is another key factor. Stephen strongly advises against negotiating real estate deals on your own. Instead, enlist the help of experienced commercial real estate agents and attorneys who specialize in dental practices. Their expertise can ensure you get the best deal and avoid pitfalls that could affect your practice for years to come.

Long-Term Implications: Finally, future-proof your practice by considering the long-term implications of your real estate decisions. Whether you plan to sell or relocate your practice down the line, making smart real estate choices now can save you headaches and expenses later.

For a deep dive into these topics and more, listen to the full episode of “The Startup Dentist” . And if you’re serious about launching a successful dental practice, check out our Startup Practice Blueprint Course for comprehensive guidance.

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