Apr 5, 2019
This week on Shared Practices see’s the return of Dr Olya Banchik, Dr. Banchik is on the forefront of cosmetic dentistry and studied at the world-renowned Las Vegas Institute for Advanced Dental Studies, where she has completed numerous courses in the most advanced techniques of aesthetic dentistry and treatment of temporomandibular disorders. Recently Olya moved from Vegas to North Carolina to start her new practice and we catch up with her to discuss all of the recent developments.
In this interview Olya takes us through the process of finding a location, designing your interior layout and what specific equipment she is finding works for her. We go into specifics around square footage requirements, scalable methods for practice layout and even advice for negotiating a lease. All in all this episode has some great information to give you an idea of the numbers you will be dealing with when starting a new practice. Olya has some great advice for budgeting upfront costs and working capitol, and even some ideas for finding a contractor that suits your needs.
Banchik Dental - http://www.banchikdental.com/about/meet-dr-banchik
Reach out to Dr. Olya Banchik about consulting on a practice acquisition: email@example.com
Reafield Dental - https://reafielddental.com/
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02:00 – 05:20 Episode intro, and a catch up with Olya about her practice.
05:21 – 09:52 what to look for when finding a location for your start-up and whether or not to use brokers.
09:53 – 10:43 For Olya, did lifestyle, or the practice itself take precedent for the final decision on location.
10:44 – 11:46 What square footage requirements to expect.
11:47 – 15:31 Dealing with trepidation and fighting the hubris that comes with immediate success.
15:32 – 20:00 What is Olya’s vision for the future of her practice.
20:01 – 25:41 Some advice for negotiating a lease.
25:42 – 30:29 What are ‘tenant improvements’ and what price range to expect per square foot.
30:30 – 34:33 What other upfront costs should you budget for.
36:25 – 37:31 How much of your first year’s operating budget should you allocate for working capitol.
37:32 – 40:02 What to consider when deciding if you are ready to begin a start-up.
40:03 – 46:24 Coming up with a layout for your practice, why Olya designed hers herself and what influences her designs.
46:25 – 50:55 What choices for lighting, screens and x-ray units would Olya recommend.
50:56 – 55:56 Richard shares a story about ‘Nomad’ x-ray machines and him and Olya discuss their viability for start-ups.
55:57 – 1:03:47 How do you source a reliable contractor and what to look out for.
1:03:48 – 1:06:49 Interview wrap up.