Ever dream of having a lively clinic space where all of your neuro dreams come true? In this episode Claire McLean, PT, DPT, NCS and Emily Duval Ledger, NeuroBiz coach dive deep into the challenging journey of finding and establishing a brick-and-mortar space for a neurological therapy and fitness business. They share candid insights about their personal experiences, emphasizing that the process is far more complex than traditional real estate hunting.
The conversation highlights the importance of starting small by renting space from others, which allows entrepreneurs to test their business model and understand their specific spatial needs without significant financial risk. Both Claire and Emily describe their initial steps of teaching classes in shared spaces like gyms, physical therapy clinics, and even parks before committing to a long-term lease.
Their discussion reveals the intricate negotiations involved in commercial leasing, including understanding different lease types, build-out costs, and landlord expectations. They stress the value of creativity in lease negotiations, such as reduced rent periods, longer lease terms with incremental increases, and finding landlords who genuinely want long-term tenants.
The podcast also delves into the practical challenges of renovations, with Claire sharing her experience of a $70,000 build-out that transformed a dated gym space into a perfect neurological wellness center. They candidly discuss unexpected costs, the importance of doing renovations comprehensively, and the need for spaces that can accommodate specialized equipment and exercise programs.
Tell your clients about Parkinson’s Wellness Fund grants!
