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How far can I move without losing my clients?
December 1st 2000Q. After 23 years in the same location, my veterinary practice is landlocked. Parking space is almost nonexistent, and traffic is so heavy clients sometimes struggle to even enter the lot. My wife suggested we move into an area where housing is booming. But our practice is still growing where we are, and I don't want to move too far from this location. In a city with 80,000 people and nine other clinics, how far can I move without losing my client base?
Should I use funds from my IRA to cover a land down payment?
August 1st 2000Q. I lease space for my hospital but want to purchase some land and build a facility when my lease expires in three years. My Individual Retirement Account (IRA) contains enough money to cover the down payment on the land. Is this a wise use of my IRA funds?
Should I lease land but own the freestanding building?
June 1st 2000Q. I want to move my veterinary practice from a strip-mall leasehold to an adjacent property that the mall owner recently bought to expand the shopping center. I can either rent a larger leasehold in the new shopping center or lease part of the land. Is it wise for me to lease the land while owning the freestanding building on it?