Episode 88: How To Negotiate Your Dental Practice Lease Like A Pro With Norman Gelfand

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Aside from graduating dental school, there are very few moments in the course of your dental career that are more important than when you sign the lease for your 1st (or 3rd) dental practice location.

It’s scary. It’s exciting. And if we’re being honest, a little overwhelming.

Did you pay too much? Did you choose the right location? Did you protect yourself legally if anything goes wrong?

At the same time, purchasing a practice means you have tremendous opportunity to grow and scale your services and patient base.

Which is why I’m excited to introduce today’s guest Norman Gelfand. Norman is the founder and president of Gelfand Group and is an expert in commercial real estate with over 20+ years of experience. He’s helped hundreds of dental practice owners negotiate a lease that gives them the best chance to succeed.

In our chat today, he shares everything he knows about how to ensure you sign a lease that makes sense for you.

Looking to lock down your dental practice lease? Make sure you ask these questions first. Click here to get access.

Here are a few things you’ll discover in today’s episode

  • The 3-4 things Norman looks for in every dental practice lease when helping dentists find their new location.
  • Why Norman insists on asking several very specific questions when working with his clients.
  • The biggest mistakes most dentists make when choosing their lease terms and how to avoid them.
  • How Norman has helped dentists save hundreds of thousands of dollars in the life of their lease.

And much more.

 

This Episode Was Brought To You By…

As a CPA for dentists, I get a lot of questions about which banks offer both the best rates and service for current and future practice owners and I virtually always recommend Bank of America. As such, I’ve teamed up to with Bank of America because I believe they are the best at what they do and want to help you get the best dental loan possible.

If you’re interested in learning more based on what I discussed on the show, simply text “BankLoan” to the number 33444, and I’ll put you in touch with my direct contact at BOA. There’s no catch, or obligation if you decide it’s not for you after learning more. I’m also happy to answer any questions you might have.

Full disclosure — If you move forward with this goes to help me continue making the Start Your Dental Practice podcast the best podcast and resource for dental practice owners.

Free Episode Bonus

Negotiating a dental lease is a complicated process, and just one mistake can affect you for many years to come. Fortunately, there’s the information and resources out there that can help you make the right call.

As a bonus for today, Norman has offered to share his article “The Questions You Must Ask Before You Sign Your Lease.” If you’re in the process of purchasing a new dental practice location, you’ll definitely want to check out the tips he shares.

To get the bonus, simply text PRACTICE to 33444. Again, that’s PRACTICE to 33444 or visit startyourdentalpractice.com/bonus if you’re outside of the US.

You’ll also receive updates on the latest episodes of Start Your Dental Practice, helpful tips for owning and running a practice, and promotional opportunities direct to your inbox.

Click here to access bonus.

Quotes

“All negotiating consists of time, information, and power”  – Norman Gelfand

“Successful negotiation comes down to your having the right attitude.” – Norman Gelfand

Resources

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Do you need more help tracking your practice's performance?  DentistMetrics specializes in helping dentists worry less about the business side of dentistry by providing timely, action packed advice on how to improve their practice's results. Contact us at jonathan@dentistmetrics.com, click here, or visit us at any of the social sites we frequent to schedule a consultation!
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