Expert Advice for Dental Practice Real Estate: Avoid These Common Mistakes

2024-06-28  • 23 min

How Dentists Can Dodge The Most Expensive Real Estate Mistakes

The Startup Dentist

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Are you a dentist getting ready to launch your own practice? First off—congratulations! This is an exciting and rewarding journey. But before you sign a lease or scout out your dream space, there’s one critical area where many startups slip up: real estate.

In a recent episode of The Startup Dentist, Stephen Trutter, CEO of Ideal Practices, shares essential real estate advice that could save your new practice thousands of dollars—and countless headaches.

Lease or Buy: Making the Right Decision

One of the earliest choices you’ll face is whether to lease or buy your space. Buying might seem appealing—it feels like you’re investing in your future. But for most dental startups, leasing is the smarter choice.

Why? Leasing gives you more flexibility, a lower upfront cost, and less long-term risk while your practice is still finding its footing. It allows you to focus on growth, not mortgage payments.

Location Matters: More Than Just Visibility

It’s easy to think, “I need to be on the busiest street in town.” But high-traffic locations often come with sky-high rents—and that can eat into your budget fast.

Stephen Trutter emphasizes strategic location over flashy visibility. Sometimes, moving just a block off the main drag can save you tens of thousands of dollars annually—without sacrificing patient accessibility. Choose a location that aligns with your patient demographic and long-term goals, not just foot traffic.

Get the Right Representation

Here’s a major mistake too many dentists make: trying to negotiate their real estate deal on their own.

Stephen strongly recommends working with a commercial real estate agent and attorney who specialize in dental offices. These experts understand the nuances of healthcare leases, zoning, parking requirements, and equipment needs. They’ll help you avoid hidden pitfalls and ensure your contract supports—not hinders—your business.

Think Long-Term

Don’t just think about what works now—think about what will work later.

Whether you plan to sell, expand, or relocate your practice in the future, your real estate decisions today can have ripple effects for years. Choose a space and terms that allow for future flexibility and growth. And always negotiate renewal options and exit clauses with your long-term goals in mind.

Take Control of Your Dental Practice Real Estate

Real estate can make or break your startup. But with the right planning, representation, and strategy, you can position your practice for success from the ground up.

For more expert insights, listen to the full episode of The Startup Dentist on Spotify. And if you're serious about building a thriving practice, don't miss our comprehensive Startup Practice Blueprint Course—it’s packed with expert guidance on real estate, financials, operations, and more.

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