When it comes to establishing a new practice, location is everything, according to last month’s story, In search of office space. But while you’re still in the stages of selecting a cosmetic practice site, there are other important steps to take, case-in-point, assembling a professional team that will get your practice off the ground — in some cases, literally — including a contractor, a real estate broker, equipment reps, a technology expert, a bank and perhaps an architect.
Assembling Your Professional Team
“You might also hire a consultant to help you get things going,” says Austin Wheeler, a partner at Practice Real Estate Group, a full-service healthcare real-estate solutions company based in Austin, Texas. “In most markets, there are probably quite a few service providers within each category.” A consultant can help to navigate and select the best providers.
Whether you hire a consultant or undertake the process yourself, Wheeler tells The Aesthetic Channel that vetting potential service providers sooner than later “will save you a lot of money and time on the backend.”
He also encourages asking for specific referrals from providers for similar work they’ve performed. “I encourage practices to be upfront with service providers about conversations they have with referrals,” Wheeler says. “The bottom line is that you want to contract professionals that are best for you and that make you feel comfortable.”
Competing quotes are important as well. “By interviewing only one contractor, for instance, he is able to inflate the price because he knows no one else is competing,” Wheeler notes. “However, if the contractor knows there are other bids, he will sharpen his pencil, which is to the doctor’s advantage.”