Recently we discussed the factors that go into making an Atlanta dental practice successful. But before these components come into play, there is a major decision to be made: what environment is better suited for your practice? Office or retail? Read this installment to find out which is right for you.
Click here to read more.
In our last installment, we outlined what factors play into determining the perfect location for a new dental practice in Atlanta. We discussed finding a community, job growth and social obligations. This month, we’ll take an in depth look at the role demographics play in choosing a thriving community for your dental practice, whether it’s a start-up, second office or relocation.
Click here to read more.
Millennials are set to take over as the largest living generation, surpassing Baby Boomers this year. What does this mean to you? Well, if you own a business and would like to attract and retain young talent, here are a few things you should consider:
How can you find and retain millennial talent? One way is through cause marketing. Millennials feel responsible for making a positive impact on the future and are demanding that the companies they work for and patronize support causes as well.
Click here to learn more about how you can reach millennials with cause marketing.
Kris Miller, President of Ackerman & Co., spoke to a packed room of industry professionals last night at The Atlanta Commercial Board of Realtors’ 56th Million Dollar Club Banquet. “We are here to honor the best commercial board in the country,” he said. The Atlanta Commercial Board of REALTORS® is one of the largest commercial in the nation with more than 2,200 members. The 2013 Club produced some $17 Billion in commercial real estate transactions.
Ackerman applauds all Million Dollar Club award winners and proudly recognizes its own for their outstanding achievements. Each of the following Ackerman brokers have generated in excess of three million dollars or more in commercial real estate sales and leasing activity last year.
 Kevin Ehringer
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 Kevin Hermetz |
 Sean Patrick |
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 Frank Farrell |
Most recently, we shared our expertise with you on how to start a new dental practice in Atlanta. We went over the pros and cons and armed you with valuable information to support your endeavors. This week, we’re discussing how to find the just-right location to start that practice.
While you’re probably thinking “I just want to be in a thriving community,” we will challenge you think beyond that. Because whether or not you realize it, family and social obligations will become more and more important in your life. At 25, spending hours in a car to get to the perfect location might be fine, but at 35, you’re going to want to see a t-ball game more than the Braves.
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It’s time once again for our ABC’s of Ackerman, which takes a look at the individuals that make our company distinct. We are excited to spotlight one of the most deserving members of our team – office manager, gatekeeper and voice of Ackerman – Ann Althoff. She wears many hats, keeps our office running smoothly and greets us with a smile. Get to know Ann, the glue that holds our office together.
If you missed the last ABC’s of Ackerman post, click here.
A. What brought you to Ackerman & Co.?
My former employer was retiring and closing the office. He recommended me to someone here at Ackerman. I interviewed and voila! My 10-year anniversary is this March.
B. What is the best part of your job?
I take pleasure in meeting our many guests; I welcome the mix of personalities throughout the company.
C. Tell us about your hobbies.
Every week on Wednesday, I read to Sarah, who lives at a senior assisted living home. I’m very interested in college basketball and football (Go NC State!). I like to read and try to walk at least three days a week.
D. Tell us something that would surprise us.
I was a shoe model for 10 years! I traveled to Dallas, Miami and New York for my modeling jobs.
E. What’s your favorite childhood memory?
My mother was in management at Krispy Kreme and we had doughnuts every day of the week!
Another favorite childhood memory was visiting my grandmother and grandfather at their farm. I enjoyed homemade ice cream, biscuits with butter that she churned, fresh eggs, chicken, pork, rabbit and squirrel.
F. Favorite vacation spot?
I spent five days at an all-inclusive resort at St. Thomas in the U.S. Virgin Islands. It was fantastic.
San Francisco is another favorite vacation spot.
G. What’s on your desk right now?
A busy phone, rent checks to endorse and total up, invoices to date stamp and checks to stuff and mail.
H. What book do you think everyone should read?
Success Through A Positive Mental Attitude by Napoleon Hill. My favorite quote from the book is: “You know, a positive attitude attracts the good and the beautiful; while a negative one will rob you of all that makes life worth living.”
I. What keeps you motivated?
Bills to pay. No seriously, my 92-year-old mother and the 81-year-old gentleman in the corner office, Mr. Ackerman.
Speaking of Mr. Ackerman, I was very honored and excited to receive an invitation to attend the Anti-Defamation League’s Abe Goldstein Human Relations Award Dinner honoring Mr. Ackerman. Mr. Ackerman is a fantastic speaker. The entire experience was phenomenal.
J. What makes Ackerman & Co. such a great organization?
We are the BEST of the BEST! No doubt.
The Atlanta office market has changed this year. So much so that it can now be considered a landlord’s market and as such, tenant expectations will need adjust accordingly. .
Here are some of the trends we can expect in 2015:
As our economy continues to grow – jobs in Georgia are expected to rise by 2.3 percent during 2015 – office rents in most of Metro Atlanta will increase; they almost double doubled the rate of inflation in 2014. Class “A” properties will remain more attractive as Class “B” and “C” properties are still looking to recover. In fact, Three Alliance Center in Buckhead is likely to be the first $40.00+ per foot, Class “A” office building in Atlanta in 2015.
A few development highlights for 2014, which are sure to enhance the already vibrant array of recent attractions, include Buckhead Atlanta, Avalon and The College Football Hall of Fame. Next year, I look forward to visiting in 2015 Ponce City Market and Krog Street Market.
Easy answer: Ask someone you trust.
Dentists begin the process any number of ways. Some start with equipment vendors. Others look for rental space or contact dental office brokers seeking to purchase a fully functioning dental office. But at some point, the question emerges:
Do I want to start from scratch or purchase an existing practice?
There are no wrong answers to this question. Practices, like real estate, are valued by the market. There are times (if prices and demand are low) when there’s no question that purchasing a practice is the right solution. In the last year, most of our clients sifted through every dental practice on the market and felt the existing inventory was picked over. If that’s the case, then you have two options: wait until the market changes or start your own practice. If you’re to the point that you’re ready to start your own practice from scratch.
Where do I begin?
If you’re early in the process, you may not yet realize that real estate is just the tip of the spear. Dentists need a solid team to aid in the daunting process of starting their own practice. The team should include:
But none of these can get very far without the identification of real estate.
If you live in a market that supports dental-focused commercial real estate brokers (like us in Atlanta), an experienced real estate broker will have a network of providers to guide you through the process. Even if that option is not available to you, it still benefits you to find an experienced broker who will advocate on your behalf to ensure the best possible outcome. When seeking such a broker, look for a broker who:
Some markets may have only two of the above, but I’ll bet you can find at least one of the above requirements in any market. The experience of a commercial, dental focused and trusted broker combined, offers a professional with whom you can go into battle.
From here, the paths toward practice ownership are legion. But with a good foundational team, in place from the beginning, you’ll have the guaranteed support you need to make the best decision should any trouble arise.
To read the entire post and learn how to start a dental practice in Atlanta, click here.
Our clients are, through experience, very familiar with the demographic breakdown of their area. They’re
comfortable with their market share and would clone their office and plop it in East Cobb or maybe Snellville
if that were possible. To bring some perspective to various markets, we’ve developed an easy-to-understand
Dental Market Comparison Report.
To read the entire post and learn more about our Dental Market Comparison Report, click here.
Atlanta is regarded as a global hub for the financial payments market. Nearly 70 percent of all U.S. payments processed annually run through companies based in Georgia. Many of these FinTech or Financial Technology companies that supply point-of-sale hardware and software, like Global Payments, First Data, and Ingenico, will benefit greatly from Apple Pay. And, since the firms noted are located in the GA 400 Corridor, they are sure to experience office expansion. This boost in services will also mean an increase in these firms’ warehousing and manufacturing capacity to meet the impending demand. Best of all, we can anticipate job growth and increased revenues.
Bottom line, Apple will sweeten the “bottom line” for the Atlanta credit payments industry in a major way and the Corridor should see expansions on the horizon.