The title of this post suggests that there are different places to put practices within a community and that the ideal places will change. In this case, we are considering communities that have 30,000+ residents (ideally 50,000+).
We have noted that the new housing market has slowed to the point that many doctors who have opened offices to cater to these new residents are feeling the strain. So, are there any alternatives? Data from our brethren in Real Estate indicated that there are two kinds of "centers" in most communities that are enjoying growth even when the city itself is doing poorly. These are:
- Universities
- Hospitals
The trend HAD been quite the opposite in the 1980s and early 1990s. Hospitals were going through consolidations and Universities were suffering from a dearth of students. But with the increase of adults seeking regular treatment from fewer but larger hospital facilities and the "bump" in the U.S. population (from many causes we will discuss in another post), the University growth in new building had ancillary developments contiguous to campus has made them a natural attraction for a start-up office.
Wednesday, March 19, 2008
Subscribe to:
Post Comments (Atom)
2 comments:
Scott, are locations near regional malls considered to be attractive. I've been considering opening a start-up in a community that prior to the recent problems, was growing at 10% a year, had plans for 2 large malls as well as a new hospital. Now I'm thinking I should hold off and see what the future will hold.
Tom:
I tend to take the long view. The current economic and demographic cycles appear to be short. For this reason, I recommend that the location near the malls and hospital will probably turn out well.
I absolutely understand waiting for what the future holds BUT delaying may cost you a good location. Get the information you can, make a decision and jump on it like a duck on a June bug then don't look back.
Post a Comment