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Step 1: |
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• Clarify practice goals for expansion. |
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Problems to solve |
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Growth aimed for |
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Return on investment desired |
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• Determine structure for participating doctors |
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Ownership |
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Future buy-ins |
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Future buy-outs |
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• Shop for financing. |
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Self-financing by group |
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Banks |
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Developers |
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Step 2: |
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• Determine space necessary for practice. |
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By number of doctors |
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By services offered |
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For parking |
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Allowing for 5-years growth |
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• Determine financial requirements. |
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Look at real estate and leasehold improvements separately |
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Shop local real estate values |
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Get local construction costs by square foot |
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• Look at all alternative solutions. |
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• Make decision and proceed with project. |
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• Select site. |
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• Estimate design and project cost. |
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• Determine time line for project. |
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• Involve all staff in project's pre-planning stages. |
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• Plan for office operations during construction if affeced by activity. |
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• Request design proposal and select designer. |
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• Request and analyze bids for best contractor and committee. (based on sq. ft. and ground-up or remodeling standards) |
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Step 3: |
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(If possible, involve the builder in early stages of project with designer for overall economy. The scenario below is not the norm, but is effective when all parties can arrange it) |
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• Review conceptual design, revisions and final acceptance. |
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• Working drawings, signage drawings. |
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• Architectural review and stamp. |
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• Engineer review and stamp. |
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• Local permits. |
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• Identify sources of materials, fixtures, etc. for best cost and deliveries. |
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• Begin Project. |
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• Oversee project manager, suppliers and time line. |
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• Develop marketing plan for announcement of new office space. |
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• Create deficiency list as project nears completion. |
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• Project completion. |
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• Move into new space and allow staff time to acclimate. |
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• Press releases, various marketing projects, Grand Opening. |
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