Fail to Plan…or Plan to Fail
Regardless if you are opening your practice for the first time or relocating an established practice, knowledge is power and planning is vital. Analyze your current situation compared to your future needs. Review all of your options. Assess the marketplace. Once you’ve determined the best path forward, allow yourself adequate time to execute on your decision.
The time required to negotiate a lease and move into a new space is at minimum three to six months. Depending on where you are in your career (i.e. the size of your business) and the current market conditions, you should begin the process of looking for new space at least 18-24 months in advance of your lease expiration or planned business opening. For large practices or complex build-outs, it can take two years or more to complete the lease negotiation and move-in process.