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Mistakes to Avoid When Establishing Your Practice

Starting your very own medical practice can be as intimidating as it is exciting. Knowing where to begin is often a mystery that eludes even the most well-prepared professionals. Before diving straight into your practice, take a step back to establish yourself. Knowing what not to do is just as important as knowing what to do, and that’s what our Boulevard Medical Properties professionals want you to know.

It’s unfortunate to see the same mistakes being made over and over again. We don’t want you to fail in this exciting time, where it’s most crucial for you to start off on the right foot. Take a close look at these common mistakes to avoid when leasing a medical office space in Los Angeles, and you’ll be on your way to establishing a successful medical practice on your own.

1. You Don’t Get the Right Loans

Starting any kind of business or venture requires loans. No matter how much you have in your own pocket to invest right off the bat, you’re going to need some reliable financial assistance.

However, that doesn’t mean you should go with the very first loan or banker that comes your way. It’s essential to shop around and find the right loan that works for you. Starting with the SBA is a good place to start, although you need to put a lot of time and work into finding the right person for the job. Make sure the terms are transparent and completely workable for your specific needs.

2. You Don’t Have the Right Location

Just like in real estate, having the right location can be the difference between heavy traffic and no traffic at all. You want to make sure you establish yourself in an area that is relatively well known, where you know a lot of people could benefit from having a medical practice right there on the block.

Boulevard Medical Properties is highly experienced in helping you as a medical professional find the right medical office space in Los Angeles. Please give us a call if you haven’t yet found the perfect place for your practice to call home. Don’t settle for something super cheap because it’s far away. Get your eyes on a good location and start bidding for it.

3. You Don’t Plan Early On

It’s never too early to start planning. It’s understandable how eager you are to get started, but that doesn’t mean that you should jump right in without having all the necessary details planned out first.

And your planning should go far beyond the brainstorming phase. You need to be sure that you have all elements of your medical practice ready, including:

  • Getting the right lenders
  • Establishing your location and working with a real estate agent
  • Conducting business with all third-parties who are involved in your practice
  • Getting insurance policies down
  • Hiring all needed staff members
  • Getting contractors to help you with your construction or remodeling needs

It’s advisable to allow yourself at least 6 months to start planning for your practice. But just know that you should give yourself all the time you need to get things in order.

Take Your Medical Practice to the Next Level with Professional Property Services

At Boulevard Medical Properties, we want to ensure that your practice is starting off the right way. From the pre-planning phase to the first day you open, we can provide vital tools and resources needed to set you up for success. If you have additional questions about renting the right medical office space in Los Angeles, or you want to inquire about loan and banking options, please contact us right away. You can reach out to us online or give us a call at (818) 882-5700.

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