Are you looking to establish a new veterinary practice or open a second location? Is your animal clinic outgrowing its current space and you need to relocate? When choosing a property, veterinarians should consider the following items to ensure a space meets their needs.
Your budget should play a role in your commercial real estate decisions. Assess your financial situation and business plans to determine whether leasing or buying a space is right for your practice.
We recommend all veterinarians meet with a lender to discuss their real estate needs. The expertise of a lender will be a valued resource for your business. By leveraging that relationship, you may discover long-term lending solutions that will enable you to afford a property outside your current price range.
The location of your practice can greatly impact the success of your business. Your real estate advisor should provide demographic information to determine a location that will capitalize on your target audience. You should also assess neighboring businesses and choose a market with few other veterinarians. Complementary organizations in the area may drive business to your practice. Look for nearby companies that offer services such as pet grooming, boarding or training.
If you’re relocating your practice, you don’t want to move more than a few miles away from your current location. Choose a space near major roadways and public transit, so it’s accessible by employees and clients. Remember visitors will often be lugging bulky pet carriers. You should also consider the visibility of prospective properties, as you’ll want to be easily seen by both vehicle and foot traffic.
The size of your space is largely dependent on your current and projected number of employees. You will also need enough space for your equipment, supplies and the animals themselves. You should choose a location that can accommodate your business as it grows.
Whether a freestanding building or retail space, you’ll want to consider the buildout of the property. Your veterinary office may need some or all the following rooms:
You will also want to choose a space with ample parking and signage. You may need to make some improvements to accommodate your business needs. Your space should enable you to reach your current and future goals for your clinic or hospital.
Our real estate team would love to represent you as you search for properties and negotiate a lease/purchase contract. We’ll focus on the deal so you can focus on what you do best: providing exceptional service for your patients and their owners.