LOCATIONAL ATTRIBUTES IN REAL ESTATE POSITIVELY CORRELATED WITH DENTAL PRACTICE FINANCIAL SUCESS

open_access
Open Access
Author:
Achek, Danny Jadd
Area of Honors:
Risk Management
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
Dr. Brent William Ambrose, Thesis Supervisor
Dr. Brent William Ambrose, Thesis Honors Advisor
Jiro Yoshida, Faculty Reader
Keywords:
Dental Practice
Real Estate
Abstract:
For my thesis idea, I would like to focus on the concept of what real estate attributes contribute to a successful dental clinic. These attributes include: demographics, location, parking, advertising, office culture, competitive advantage, financing, interest, insurance companies, space utilization. The thesis also analyzes topics including how real estate data to improves business, elements regarding commercial real estate construction, and the future of real estate and competition. With these attributes, I would like to assess what elements from those would produce the highest amount of monetary success. I would also like to investigate specific neighborhoods and investigate average median household income, older population and the ratio of dental clinics to people and see how these locational attributes impact success and revenue. The goal of this paper is to investigate these attributes and assess how much each of these factors provide an impact regarding revenue. Location and demographics are some of the greatest and most impactful aspects of choosing a dental clinic, as location will provide opportunities for growth, clientele base and will present level of competition in the form of the PDR. Parking and how close a practice is to major roads also greatly impact the attractiveness to clients, while large, yet simple advertising has also been proven to be effective. Sustainability of dental practices is also a major consideration when it comes to creating a high value, efficient and low expense business that will likely become the norm in the near future. All in all, there are a lot of factors that contribute toward the success of a dental practice and each little piece serves as more of an interconnected puzzle in which are each important in their own ways.