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Should I Own or Lease my New Urgent Care Location?

 

Knowing whether you should own or lease your urgent care location depends on a few factors. Patrice Pash walks you whether owning or leasing is right for you.

Hi there. I'm Patrice. And today we're going to talk about the differences between leasing and purchasing your property.

Now folks ask all the time, is it better off to lease, or should I just go in and buy my property? And that's a difficult question. There's really no right or wrong answer.

Sometimes you have to take a look at what's in your best interest. And my best answer actually is always pick the best piece of property you possibly can get.

So the things you have to look at really depend on the individual startup, your location, and your financial resources.

In general, most first-time startups tend to lease rather than purchase your property. And a lot of times this has to do with what their financial resources are.

Now in order to reduce your financial need, it is typically cheaper to lease rather than buy. The basic rule of mine, however, is to just get the best possible available location, assuming it's affordable, and it makes sense from your financial and operational standpoint.

So as you go out there, and you're looking at locations for you to get started up with your urgent care--location, location, location. And then take a look around and see what your options are for leasing versus purchasing.

I hope that helps out. And join us next time when we start talking about what contracting and credentialing is, and when you should start.

We'll see you then.