Dental Practice Expansion Financing
Are you considering a dental practice expansion? Technology is pushing the dental industry into uncharted territory. Don’t get left behind. Dental practice expansion can be done in many ways. A dental practice can get more visibility through a more favorable location. It can add space for increased capacity. It can purchase new equipment to provide new services. But how do you know if your practice is ready for expansion?
Most bankers and business managers would have you ask yourself these questions:
- Are you creating positive cash flow?
- Do you want to move to another part of town, one that provides better visibility and helps grow your client base?
- Are you outgrowing your current space?
- Do you want to add more technology?
Two or more yes answers mean your dental practice is ready for expansion. And if the practice is choosing to expand, it will likely need to secure dental office expansion financing. Whether you are relocating, adding a second location, or acquiring a competitor, if your practice can purchase the real estate (with MedTrust Capital, many times with no money down) you will receive great tax benefits, property value, design control, and potential rent income.
Dental practice expansion financing doesn’t just happen with one lender and a single contract. It’s a multi-step process that includes several people to help. You’ll need:
- A lender who has programs specifically for dentists
- A real estate broker who knows the market (if you’re buying)
- Architects and contractors who have experience with dental or medical practices (if you’re building)
- Dental equipment representatives (if you’re buying equipment)
- A CPA and/or financial advisor to walk you through short- and long-term financial implications of owning property
- A business consultant to help you prepare to expand your practice
MedTrust Capital Group is happy to refer from our trusted network if you are seeking someone in any of these roles. Dental practice expansion financing is possible with the help of MedTrust Capital Group and our trusted network.