Dr Charlie Thompson on building a practice with his wife
Husband-and-wife dental team Dr Charlie Thompson and Dr Caroline Bowman built a practice together in country New South Wales. BOQ Specialist was there to help.
Learn MoreWith our help, Dr Kim was finally able to make his vision a reality.
6 minutes
Vision has never been an issue for Dr Daniel Kim. After graduating from the University of Sydney in 2009 with a Bachelor of Dentistry, Dr Kim set out to work in a range of clinics throughout NSW. His passion and dedication has taken him to Canberra, Newcastle and all along the Mid North Coast. Along with valuable experience, Dr Kim gained lessons and inspiration which helped tailor his vision for his own practice.
“Working in other places I could see things that I wanted to change,” explains Dr Kim. “So, after seeing a variety of different work places I decided to go out on my own because I could implement the changes I wanted and see how they worked.”
But getting from dentist to practice owner was no small step, and Dr Kim knew some help was required to make his vision a reality.
The dream
From the beginning, Dr Kim was clear on the sort of clinic he wanted to open: something with personalised service, helpful payment solutions and a distinctive brand.
As well as a vision, he also had the perfect location. “My first job after graduation was in Taree, so I felt familiar with the area,” he says.
All he needed was some guidance. Enter BOQ Specialist’s Paul Catanzariti.
“One of the first times I dealt with Paul, I was probably a mess,” remembers Dr Kim. “He definitely helped streamline my thoughts.”
For Dr Kim, having a frame of reference to fall back on was very important. It not only helped keep his bank balance in check, but also helped curb his tendency to get ahead of himself. “The entire process was broken down on a time line. Paul helped me develop ideas which were realistic and achievable,” says
Dr Kim. Working as a trio with his accountant and BOQ Specialist, Dr Kim was able to realise his dream and open Taree Dental Care. But, as Dr Kim’s dental clinic grew in popularity, his vision also grew—and new steps needed to be taken to ensure ongoing success.
The reality
Work in Taree has proved significantly different to work a dentist might find in larger CBD areas.
“The demographic is different so the type of work we do is not what we would expect in the city,” explains Dr Kim. “For example, in the country we would do a lot more extractions and surgery versus cosmetic work or implants. The requirement is not for expensive or glamorous work but more necessary procedures.”
While catering to such a different demographic may be daunting to some, Paul Catanzariti says Dr Kim’s decision to work in Taree was a smart one as it played to his strengths. “It was a location that made sense because he had worked there previously,” Paul says. “He was familiar with the area, he knew what competitors were already there, he knew the demographic and a lot of patients were familiar with him.”
Dr Kim has further secured his success in Taree by implementing some of the changes he noticed other businesses had failed to make during his time working as a postgraduate.
“Marketing is a big one: a lot of dentists don’t promote themselves through advertising or social media,” he explains. “Dental practices sometimes don’t want to spend any money on it which is totally fine, especially if the practice is established. Since opening my own practice, I’ve promoted it in a range of ways.”
The future
Since opening in 2016, Taree Dental Care has grown a loyal client base and undergone multiple expansions. Something which Dr Kim credits to Paul’s ongoing guidance.
“Every time I’ve needed to expand I’ve called Paul says Dr Kim.
“For example, after the practice grew a bit, it was time to put in a second chair. I shopped around for the best deal on equipment and installation, and then called Paul with the details. Within the week it was done.”
For a rapidly growing practice time is money: being efficient is crucial otherwise it causes delays. Paul’s help has ensured Dr Kim’s vision has stayed on track.
And Dr Kim isn’t planning on stopping any time soon.
“Currently we are planning on further expansion,” he says. “We’re just going through all the council approvals and designs to expand the premises. That’s the next big project happening sometime this year and we’ll continue to grow from there.”
Thinking about realising your own vision of a perfect practice? Click on the link to find out more about our tailored financial solutions for starting and growing a practice. Ready to take the next step? Contact us to find out how we can tailor a practice finance solution for you, or call us on 1300 160 160.
