Houston Dentistry Volume 1 Issue 3 The Texas Center for Occlusal Studies | Page 17

area. The population density can greatly impact your available patient pool, and it is important to consider the availability of clients so that you can hedge against a competitor who might be coming into your target patient population. That’s not to say that a lower population density is always bad – if an area is experiencing strong residential growth, especially if it is 1-3 hours outside the Houston area and less desirable to competitors, a location might still be a strong contender. Considering population demographics can significantly impact the likelihood that your dental office is successful upon opening, and it can greatly impact your practice as a whole. Get to Know Your Neighbors When determining whether a particular location is right for your new dental office, you’ll also want to consider the other dentists who might be located nearby. Not only is this important from a competitive standpoint, but nearby access to other dental specialists may make your practice more attractive to potential clients. Competitors. When considering whether a potential location is right for your business, you should review the number of competitors in the area. Examine where they are located in relation to the nearby population. It is crucial to use up-to-date information and to run custom searches in order to view the most accurate numbers, as the addition of even one dental practice can make a huge difference. Referral partners. For dental specialists, it can be helpful to consider the number of referral partners that are located in a given area. These referral partners can be other dentist practices – such as locating your oral surgery office near pediatric and general dentists – or they can be other community organizations – such as placing your orthodontic office near local middle schools. Dentist-to-population ratio. Many dentists rely heavily on this statistic, as it will show the saturation in an area. This number will be a good indicator of the need for dentists in a particular community. Learn About the Area Culture The lifestyle of a particular area is also an important consideration when deciding on where to place your dental practice. Sometimes, simply reviewing the numbers don’t tell the entire story about a location, as an up-and-coming neighborhood may look similar to an area that is being vacated. It may be in your best interest to open your office near your sphere of influence, such as where you grew up, where your church is located, or where your children go to school, as you will have a good understanding of the lifestyle of these neighborhoods. Choosing the right location for your dental practice can be the difference between seeing 20 patients on your first day of operation versus two. Be careful who you listen to and who you work with – a real estate agency that specializes in dental and medical practices knows what research needs to be done to help you locate areas that are most in need of your services. George Allen ASSOCIATE George is the Greater Houston representative for Thomas Allen Practice Real Estate Group and works exclusively with healthcare professionals to find the right location for their practice. He is actively in the market working with brokers and researching real estate trends in the Houston area. His continued relationships with vendors within the medical field enable him to surround his clients with the a strong team of professionals. In addition to knowing the market and building relationships, George's experience in lease/contract negotiation allows clients to get the best deal possible. George takes pride in knowing that his work enables his clients to start their practice in the best position possible. George Allen can be reached by calling (713) 822 - 6775 (mobile) or send email to: [email protected] FREE VALUATION PRACTICE Know the value of your practice [phone] | ADStexas.com Jeremy Brown JD, Joe Piazza DDS, Terry Watson DDS, & Frank Brown JD Practice Sales & Appraisals www.houstondentistrymagazine.com | HOUSTON DENTISTRY 17