When a doctor enters a startup or expands to multiple locations, it costs approximately $500 – 750k if they do it right. Depending on the square footage, budget and personal preference, build out is roughly $300 – 500k, equipment (depending on the specialist) $100 – 250k, and they will need up to $100k working capital before the practice becomes profitable enough to cover operating expenses.
Move-In Ready spaces, also known as 2nd Generation spaces, are offices completely built-out by a previous tenant. The owner and/or Landlord offers the completely built-out space with a simple lease, saving the new doctor $300 – 500k (or more, if equipment is still there). Our team can usually negotiate a reasonable tenant improvement amount so the doctor has zero out-of-pocket expenses to renovate the office and make it their own. Other lease incentives, like rent abatement periods (“free rent”), are negotiated so the doctor isn’t paying rent while building up a patient base.