Opening a Second Practice

Owning and operating a single practice location can be a challenge in and of itself. But if you’ve followed professional advice, such as that offered in last month’s story Building your practice, and are turning a profit in your primary location, opening a second one may be a smart business move.
Overall, practices with multiple locations can simply make more money. “Once you have learned how to effectively manage associates and coordinate schedules with one location, you can often make enough revenue and profit to cover your expenses and pay yourself well,” says Thomas Allen, founding partner of Practice Real Estate Group, a full-service healthcare real-estate solutions company based in Austin, Texas. “By opening a second location, you can double your income.”
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