What is the most important factor in deciding to relocate an office for a professional practice?
When you identify the most limiting factors in the success of your business, ask yourself if a change would improve profitability, patient retention, new patient or new client growth, office efficiency, and better service to patients or clients. Will it improve your ability to expand the practice later, to build equity through ownership, to reduce your tax liability, and to maintain a revenue stream through retirement with ownership? In addition to the economic factors that affect your decision, intangible benefits of relocating your office may include improved staff morale and retention as well as your peace of mind, your positive attitude at work, and your overall quality of life. A Practice Options specialist can provide information that will help you determine which path will be most profitable. Comparing your current operating costs and projected income and expenses after relocating will give you a clear picture and help you make the right choice. Do not move forward and don’t spe
