I recently read an article about a dentist in Florida that just sank $4 Mill into a new office.
He "hopes" to house 6 dentists and up to 45 staff or more.
All in a city that is NOT favorable in the summer time.
What do I mean?
Simply this: the town empties out in the summer. It's a winter-haven for folks from the north. But, come April, you can hear the giant sucking sound - a vacuum of people heading back north to escape the heat and return to their roots.
Many restaurants shutter their doors.
You gotta wonder, what's this doc thinking?
There's the simple law of supply and demand -- all year long -- that many strong-headed among us ignore when they choose to locate their office in the WRONG place. And, it's a high cost to absorb if you do.
The mortgage on this albatross, with 20% down, will likely be $25k or more. Right out of the gate, he's saddled with doing a hundred grand of dentistry every month, just to cover his mortgage, regardless if people are in town or not. The bank doesn't care.
Don't get me wrong, I LOVE his amibition. And, were it a different area, in a place underserved by the profession, I'd applaud his guts.
And, for all I know, without looking into the situation more, this might be the best business decision of the century. But, on the surface, it's risky at best. And it makes me nervous for him.
There IS a way to get around the "wonder" and "hope" this guy clearly has. And, I wish he'd have seen what I am about to write, earlier...
Enter my friend Jayme Amos. My "guy" that you've got to get to know.
Here's the thing: Jayme's part of the team I've put together to manage the location, construction and build-outs of the Wellness Springs Dental franchises we'll opening all around the country soon. Yes, he's THAT good. McDonald's would've been luck to get him for their own stores. (Sorry, Ronald. Beat you to it.)
If you're considering building a dental office, or re-locating, you've gotta talk to him -- and at the very least, grab his book.
You can learn more about him, here.
You can get his book from Amazon, here.
His clients rave about him. I rave about him.
Do yourself a favor and get his book.