We have all heard about and/or been impacted by the downturn in the residential housing market, but a quiet downturn in the commercial market has also been occurring. With the downturn suites have been vacated as business downsize, are bought-out, or go out of business. And, with more vacant suites and buildings on the market than in many years, lease rates are highly competitive in virtually every market except the Rust Belt (North and South Dakota, Colorado, etc.) which haven't been impacted significantly by the Great Recession.
If you haven't taken a look at your lease recently study it now while the market is low, especially if your lease is coming up for renewal in the next few years! Then contact a commercial leasing agent to open those discussions and rework your lease now! Also, do not negotiate your own lease unless you're the building owner... Leasing for your office is as emotional as buying a home and using an agent for home purchases is the gold standard. An agent will dot the "i's" and cross the "t's" - plus they're savvy on the rates for the building Class and the type of lease you have. In some cases your agent may need to educate your landlord about the market in their area and, if they aren't willing to renegotiate to a lower lease rate than ask for a Tenant Improvement allowance instead. Then use those funds to make small, appropriate updates to your office like new carpet, vinyl floors, wall covering and paint. Keeping your interior looking stylistically current with well maintained materials is the key to continuing to keeping your practice fresh for current patients while attracting new ones.
Either way, the savings or updated interior will be yours and that is money in the bank!
Monday, August 30, 2010
Friday, July 30, 2010
Affordable Updates. Amazing Results.
So often we are contacted by dentists whose offices are in need of an update but the concern for lost production and income during any level of renovation has stopped them cold. Rightfully so, but inaccurate! The key to having a successful operational renovation is working with a detailed dental office designer and planner (that would be us, of course) and a knowledgeable and experienced dental contractor. Depending upon the size of the physical office and the scope of the work to be completed, a full closure is usually unnecessary. especially when combined with a motivated Doctor and team. Whew, now there is cash flow to pay for the updates!
The office pictured here for Drs. Victor Barry and Micheal Mulick in Seattle, WA is case and point. From the picture here (or on our website) you can see the actual physical changes were minimal - while the change to the visual impact was significant. With new carpet, paint, dark stain, and artwork their reception area was transformed into a sophisticated entry for their practice and other updates carry the theme through the office.
Here's how this works. In the same way dentists start with a new patient interview, an exam, x-rays, and treatment planning before treatment, so does our team. However, we call those steps programming, inventory, as-built measurements, and space planning. With the dentist we determine what the practice's office design and functionality needs are, what the desired outcome is, and-of course-what the budget is. Then we complete a detailed questionnaire, measure and photograph the office and dental equipment, and "as-built" measure the entire office or just the areas to be updated. This process creates the "records" for our "treatment planning" to be built upon.
Then the fun starts! Functional space planning (the dental treatment plan) begins to correct poorly functioning key areas such as sterilization, the business office or lab. The existing equipment from the inventory and any new equipment to be purchased are integrated into the planning so everything flows smoothly. Then color schemes are developed that include new carpet and other flooring, fabrics, wall covering, and paint to blend with any existing materials that need to remain to stay on budget. The dental office space plan or plans are presented to the dentist and team for review and, if needed, further refinements are made. The color and materials schemes are presented next and narrowed to one final option with a lot of happy smiles, a few "woo hoos" from the team), and conversation about just how great this will look!
The next step is accurately and completely illustrating the functional and colors updates in detailed drawings (your lab prep). The drawings reflect existing power, data, telephones, lighting, and walls, etc. to remain, plus any added needs. They show the new functional planning and design updates needed to modify the existing office. This process is just like sending your patient out to your specialists as part of your treatment plan before you can begin your care. Working "updates" into an existing office is just like preparing for an implant, braces, or long term health of a mouth. It takes foresight and knowledge, planning, careful execution with specialists. Most importantly a "patient" that understands the value of comprehensive treatment and the investment it takes in the short term for great outcomes that pay for the long term growth and success of the practice!
The office pictured here for Drs. Victor Barry and Micheal Mulick in Seattle, WA is case and point. From the picture here (or on our website) you can see the actual physical changes were minimal - while the change to the visual impact was significant. With new carpet, paint, dark stain, and artwork their reception area was transformed into a sophisticated entry for their practice and other updates carry the theme through the office.
Here's how this works. In the same way dentists start with a new patient interview, an exam, x-rays, and treatment planning before treatment, so does our team. However, we call those steps programming, inventory, as-built measurements, and space planning. With the dentist we determine what the practice's office design and functionality needs are, what the desired outcome is, and-of course-what the budget is. Then we complete a detailed questionnaire, measure and photograph the office and dental equipment, and "as-built" measure the entire office or just the areas to be updated. This process creates the "records" for our "treatment planning" to be built upon.
Then the fun starts! Functional space planning (the dental treatment plan) begins to correct poorly functioning key areas such as sterilization, the business office or lab. The existing equipment from the inventory and any new equipment to be purchased are integrated into the planning so everything flows smoothly. Then color schemes are developed that include new carpet and other flooring, fabrics, wall covering, and paint to blend with any existing materials that need to remain to stay on budget. The dental office space plan or plans are presented to the dentist and team for review and, if needed, further refinements are made. The color and materials schemes are presented next and narrowed to one final option with a lot of happy smiles, a few "woo hoos" from the team), and conversation about just how great this will look!
The next step is accurately and completely illustrating the functional and colors updates in detailed drawings (your lab prep). The drawings reflect existing power, data, telephones, lighting, and walls, etc. to remain, plus any added needs. They show the new functional planning and design updates needed to modify the existing office. This process is just like sending your patient out to your specialists as part of your treatment plan before you can begin your care. Working "updates" into an existing office is just like preparing for an implant, braces, or long term health of a mouth. It takes foresight and knowledge, planning, careful execution with specialists. Most importantly a "patient" that understands the value of comprehensive treatment and the investment it takes in the short term for great outcomes that pay for the long term growth and success of the practice!
Wednesday, February 17, 2010
2009 Business Loss? Recoup the loss from 2007 tax payments!
As the economy slowly recovers some businesses are studying the effects of 2009 on their bottom line. Ideally your practice experienced year-over-year gains but, if you had a loss last year and it flows through to you as a sole proprietor, S-Corp, or partnership, take a few minutes to read this article from CNN Money. At a minimum it's worth a call to your accountant...
Monday, February 8, 2010
Nice Office Environments Improve Team Happiness
This article on "Happiness is good health" is great! Perhaps with just a little too much attitude but the knowledge gained from the study is still the same. Offices that are designed well and look good pay the business owner back in increased productivity, a happier team, and ultimately - which isn't even touched on here - happier patients.
Scroll down to my April 21, 2009 "Economic Reality..." entry and you can see the outcome of updating the aesthetics at Dr. Robert Spreen's office in Bellevue, WA in the after (upper) and before (lower) photographs. There are no "construction" changes other than new cabinetry, finishes, and furnishings.
Update your office and reap the returns of an investment well made...now, that IS something to consider!
Scroll down to my April 21, 2009 "Economic Reality..." entry and you can see the outcome of updating the aesthetics at Dr. Robert Spreen's office in Bellevue, WA in the after (upper) and before (lower) photographs. There are no "construction" changes other than new cabinetry, finishes, and furnishings.
Update your office and reap the returns of an investment well made...now, that IS something to consider!
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