Losing money

Mike2

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It's been my experience that we all worry starting out. Then we get established and make a bit of money and word travels and more work comes....etc. Plan vacations, Dr's in my area are begging for removable and I cannot find anyone who wants to do it. My friend that has a small removable lab now dictates the return dates. They send work and he calls them after pickup to let them know when to expect the casework back, as he's overwhelmed with business. I find that the more you help them and save their butts the more beholding they are to your lab. I don't agree with the in house model as usually the Dr's are abusing the relationship...can u come up and look at this etc. Don't get me wrong it is a great way to learn, but they should also be paying for those consults. Just my 2 cents but I'd move out on my own or find an area like mine where all the labs discontinued same day relines. There is a market for that. Good Luck
 
doug

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Best thing to say when a doc asks you to come look at a patient. "I'll be there in 10 minutes, my hands are full right now." If they come looking for you, then it's important.
 
bigj1972

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Best thing to say when a doc asks you to come look at a patient. "I'll be there in 10 minutes, my hands are full right now." If they come looking for you, then it's important.
Or
"Whats that?...oh that's a tounge"
 
GG - J

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tlambing


retired after 22 years
well done
i have 22 in and at least 22 to go lol
 
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Denture Dude

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What did you decide to do?...just curious
Well. It’s been a hell of a month. Um. Some crazy sad stuff happened. Without a long diatribe about the whole deal. The guy who owned this place (built it from the ground up) died. Completely unexpected. I’m now over the grief of the loss (the man was a true inspiration). Now I’m onto the grief of what it means for my plans.
 
sidesh0wb0b

sidesh0wb0b

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Well. It’s been a hell of a month. Um. Some crazy sad stuff happened. Without a long diatribe about the whole deal. The guy who owned this place (built it from the ground up) died. Completely unexpected. I’m now over the grief of the loss (the man was a true inspiration). Now I’m onto the grief of what it means for my plans.
well thats brutal! keep your chin up, and let us know how you do and what you decide. and always ask questions!
 
Doris A

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Well. It’s been a hell of a month. Um. Some crazy sad stuff happened. Without a long diatribe about the whole deal. The guy who owned this place (built it from the ground up) died. Completely unexpected. I’m now over the grief of the loss (the man was a true inspiration). Now I’m onto the grief of what it means for my plans.
I'm sorry to hear about your boss.
Do you have an opportunity to buy the business? There was a lab in my area that the owner got sick and instead of closing or selling to just anyone he offered it to his employees. They pooled their money and now they own it. Maybe you and your coworkers could do something like that.
 
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Denture Dude

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I'm sorry to hear about your boss.
Do you have an opportunity to buy the business? There was a lab in my area that the owner got sick and instead of closing or selling to just anyone he offered it to his employees. They pooled their money and now they own it. Maybe you and your coworkers could do something like that.
Well, this is a multi doc practice. Building alone is 5 mil. I’m in the lab in the back. I hesitate to say ‘in house’ cuz this isn’t exactly that, but. Let’s call it in house. Whatever. Far as the lab ‘business’ goes, I AM the lab bus. I’ve been waiting to give a hard inquiry to the widow about what the next plans are just out of respect for her loss. We will see. One day at a time right now. Good lesson in ‘the best laid plans’ can go sideways at any moment. I should probably quit blabbing about it, competition might be here.
 
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Denture Dude

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Included in the plan to have a waiting list of clients should also be set vacation time, because once youre that busy and you need it the most, you never take one. At least in my experience..
A wait list of clients. I believe I’ve heard you and others say this before. So, help me wrap my head around this one. Does this mean, set up shop where there’s a lot of potential clients? Make a name for myself so I can get one of those fancy head shot pics of myself into LMT mag (always w the angry, serious face)? Uh, have a family member who’s a dentist? Inherit dads lab? Sounds like a snarky question. Not meant to be.
 
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Denture Dude

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It's been my experience that we all worry starting out. Then we get established and make a bit of money and word travels and more work comes....etc. Plan vacations, Dr's in my area are begging for removable and I cannot find anyone who wants to do it. My friend that has a small removable lab now dictates the return dates. They send work and he calls them after pickup to let them know when to expect the casework back, as he's overwhelmed with business. I find that the more you help them and save their butts the more beholding they are to your lab. I don't agree with the in house model as usually the Dr's are abusing the relationship...can u come up and look at this etc. Don't get me wrong it is a great way to learn, but they should also be paying for those consults. Just my 2 cents but I'd move out on my own or find an area like mine where all the labs discontinued same day relines. There is a market for that. Good Luck
This is my second in house gig. I learned enough from the first one to lay some ground rules with this one. I still get abused daily though. Going in house was the only thing I found that pd enough to get ahead enough to invest in my own business. Maybe.
 
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Denture Dude

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I have just retired after 22 yrs owning/running my own removables lab. Yes, there were some months slower than others, but I can say that not a single month did I not turn a profit. I have known however, many other small labs that have struggled and sold or closed over the years. In my opinion being a great technician and a great business mind do not always go hand in hand. By your questioning post it sounds like you’re aware and care enough to be great at both! A few things that helped me over the years…
1. Raising my prices a bit every year (as costs of goods rise),I never had a client leave over price.
2. Charging more for expedited services
3. Finding a niche that serves the majority of your clients (For me this was flexibles)
4. Offer the help your clients be successful! bending over backward sometimes to help every step of the way, will endear your clients to you, referrals will follow

In your situation I also think, open transparent accounting, since your income is based on a profit that you are not in charge of calculating.
Agree with the open and transparent accounting. Verbally, that was the deal. But the employment contract that my dumb ass signed wasn’t spelled out that way. I was hungry when I took this job. And guess what, I’m still hungry. Hmmmm. I’ve had p&l’s that had bills noted that weren’t even from companies that I’ve ever dealt w. Things were good, I was making enough, so I never complained.
 
Andrew Priddy

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A wait list of clients. I believe I’ve heard you and others say this before. So, help me wrap my head around this one. Does this mean, set up shop where there’s a lot of potential clients? Make a name for myself so I can get one of those fancy head shot pics of myself into LMT mag (always w the angry, serious face)? Uh, have a family member who’s a dentist? Inherit dads lab? Sounds like a snarky question. Not meant to be.
the central coast is screaming for removable techs..
I'm sure many other places are as well.. the last guy here (that was good) would also waitlist.. "you get it when I give it to you."
 
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Denture Dude

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the central coast is screaming for removable techs..
I'm sure many other places are as well.. the last guy here (that was good) would also waitlist.. "you get it when I give it to you."
Ah. I see what you’re saying now. In other words, Plan to have too much work.
 

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