Thinking about moving or expanding your practice? This process can either be exciting or incredibly expensive and disappointing, depending on what comes of the negotiations. So in the interest of helping my colleagues avoid learning some big lessons through painful mistakes, this week’s podcast digs into the art of negotiating a great deal on a lease for clinic space.
In this episode, I explain how to approach the negotiations so you’ll end up with a lease for clinic space that will keep you smiling over time. You’ll hear how to leverage landlord priorities to obtain a better deal, why I always recommend using a commercial real estate broker, and how you can salvage things in the event you’ve already started negotiating directly with a landlord.
This “highlight” is from a Q&A call with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast.
More specifically, we discuss these topics related to how to negotiate the best lease for clinic space:
- Why the price-per-square-foot is often a landlord’s priority and what you can ask for to improve the deal when this is the case.
- Some of the ways a commercial real estate broker can save you tons of money and keep you from having major regrets down the road.
- Suggestions for how to take advantage of a commercial broker’s expertise if you’ve already begun directly negotiating with a landlord.
- How to decide what elements should be on the table during your negotiations.
- The easy way to avoid being on the hook for unexpected building costs down the road.