Pricing the cost of a lease and build out of space as well as a purchase of land and construction of the building plus parking and other lot expenses.
Healthcare Strategy Leadership
Case: Building a Business. Your boss has come to your work group and shared the idea that she wants to expand her businesses into a new geographic area. She now owns four businesses. She is organizing four teams with each team researching and then recommending whether she should move forward in setting up a new location. Each of the businesses would need a site with high auto traffic counts, high visibility, and easy access to be successful. She tells you she is really intrigued by the Burnsville, Minnesota area and thinks it has great potential for any of the four businesses. She thinks the County Road 42 corridor in Burnsville is the best area for you to start your search. The four businesses she is interested in are a small bank/credit union branch, a car wash, a quick service restaurant, and a small medical clinic. She would like each of your four teams to research and then present two possible specific locations. One site should be leased space and one site should be land to build on. The square footage of the space would be 4000 to 6000 for each of the business types. Use 5000 square feet for planning and cost purposes.
Key components of your research include:
1. Checking county, city, and Metropolitan Council zoning regulations. Specifically checking for the types of use allowed, lot size needed, maximum building size, setbacks, parking requirements, easements, access points as well as the approval process and timeline.
2. Researching and locating any competitors within a three-mile radius of each of the sites then plotting them on a map.
3. Pricing the cost of a lease and build out of space as well as a purchase of land and construction of the building plus parking and other lot expenses. Include cost and restrictions on signage in your research.
She would like the new business to be up and running within one year, even sooner if possible.
Answer preview to pricing the cost of a lease and build out of space as well as a purchase of land and construction of the building plus parking and other lot expenses.
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