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Would you start a new business when the total expenses are 60k a month?

ubonr1971

By ubonr1971
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thaibeachlovers Star Member

thaibeachlovers

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Like the expat saying about how to make a small fortune in LOS- start with a large one.

Your wife, from what I read is already a practicing dentist, so why go off on your own?

Otherwise, you say you want to have other dentists work in the same place; so why not find others willing to set up the new business together and spread the risk?

Going by normal Thai practice, if you are successful, expect one or more to set up nearby, as they seek to get a share of your business. What was enough for one tends not to be enough spread between a few.

I used a very nice practice in Pattaya which had no others near by and they failed.

 

If you speak Thai well enough, you could do the receptionist job as well. At least till it got busy.

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jackdd Platinum Member

jackdd

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2 minutes ago, thaibeachlovers said:

If you speak Thai well enough, you could do the receptionist job as well. At least till it got busy.

This is probably a bad idea. Many Thai people are afraid to talk with foreigners because they assume they have to speak english with them, and would maybe not enter the clinic if they only see a foreigner sitting there. And probably that job is not allowed for foreigners anyway

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thaibeachlovers Star Member

thaibeachlovers

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20 hours ago, maximillian said:

Recipe for any business to be successful:

Be better than the others without being more expensive.

Be better in any way.

For a walk in business, need an attractive reception area, and even better a DDG receptionist.

Magazines that aren't 10 years old, and free tea, coffee, cold water. TV with something worth watching helps too.

The dentist I last used in Pattaya had free internet to use while waiting- big plus.

Something decent to sit on.

Clean and practical toilet facilities, not some cupboard under the stairs.

Even a decent fish tank is a plus.

If one can go and have a procedure at Grace dental clinic in Chiang Mai, one could learn how to do it from them.

Edited by thaibeachlovers
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thaibeachlovers Star Member

thaibeachlovers

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3 minutes ago, jackdd said:

This is probably a bad idea. Many Thai people are afraid to talk with foreigners because they assume they have to speak english with them, and would maybe not enter the clinic if they only see a foreigner sitting there. And probably that job is not allowed for foreigners anyway

Fair enough. I hadn't thought of that. I thought it might help with the finances till it was established.

However, could use presence of a farang as a hook to get farang patients, even if not behind the reception desk.

It's difficult when the receptionist doesn't speak English, but having a translator would be a plus.

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thaibeachlovers Star Member

thaibeachlovers

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On ‎2‎/‎20‎/‎2018 at 9:29 AM, ubonr1971 said:

We think its true bc the clinic is extremely busy and she said she has over 500 orthodontics patients alone. She has 3 dentists working at her clinic. 

If it's that busy, perhaps she could work there for a while. That way she builds up a client base and gets word of mouth referrals. starting from scratch with no reputation is always more difficult.

Start small, have big dreams.

People on TVF are always asking for dentist recommendations. Personal recommendations beats advertising every time.

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Rc2702 Gold Member

Rc2702

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Just now, thaibeachlovers said:

Fair enough. I hadn't thought of that. I thought it might help with the finances till it was established.

However, could use presence of a farang as a hook to get farang patients, even if not behind the reception desk.

It's difficult when the receptionist doesn't speak English, but having a translator would be a plus.

This is seriously bad train of thought. Just asking for unwanted attention. The business is in thailand in a small city it's aimed at Thais.  Even the guys hook  with subsidy from government (900 baht) scheme is for thai people. The last thing this business needs is a farang presence/clientele. This type of thinking is overlooking 99.5% of the market.

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FritsSikkink Diamond Member

FritsSikkink

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"We know a clinic that is in yr 6 and its turning over 500,000 baht a month."

Turning over a certain amount says nothing at all. How much profit do they make?

With 3 dentist working there they will have a lot more costs too. Need more equipment and have to pay them too.

 

Working at a hospital and after 4 PM for herself is a not a very good idea. She will have the same costs for the business when she works part-time but will make less money in the business.

 

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speedtripler Gold Member

speedtripler

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2 hours ago, Rc2702 said:

This is seriously bad train of thought. Just asking for unwanted attention. The business is in thailand in a small city it's aimed at Thais.  Even the guys hook  with subsidy from government (900 baht) scheme is for thai people. The last thing this business needs is a farang presence/clientele. This type of thinking is overlooking 99.5% of the market.

I don't know if you will make as much money as you expect to 

I walked into a dentist once in a busy bkk road and there was nobody in it except the dentist and his receptionist

He did a good job and filled in a cavity for 700thb 

 

Now I go to a big modern hospital with all the  latest space age equipment of dentistry and they have free tea, coffee, cookies and stuff in a luxury  waiting area with white leather couches and nice coffee tables 

 

I walk in anytime without appointment  and usually get seen by someone if they're not on lunch or book a specific dentist if you care which one you get 

 

The bill is usually 1800-4400 for bi annual checkup and fixing anything that is wrong

 

I don't know if the thais in your target market will pay that much (or at least enough of them to cover the rent + salaries + equipment) 

 

I don't even care about the price because insurance pays it anyway but if I was a poor  Thai, I might still go to the cheaper guy who I went to the first time because he was in an old style surgery but his work was 100%

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blackcab Platinum Member

blackcab

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You have considered this business well, and it is to your credit that you seek advice and opinions from others.

 

My contribution is that the business will succeed or fail based on its social media interactions. Having a nice place in a great location is all very good, but you need a reason for people to walk in to your premises as opposed to a competitors.

 

Your thinking is that the nice premises will attract them. What you need to do is attract them even before they see your premises. That will mean lots of clever Facebook and Instagram promotion on a very regular basis - all in Thai.

 

Be honest - is marketing your wife's strong point? If it's not, you need to employ someone excellent to do it for you.

 

Question: What is your online advertising budget?

 

Choose a product to promote. Decide the prices with your wife - don't lose money, but make it plain you are offering a "get things started" price for a starter orthodontics package for example. Something that will get guaranteed repeat visits that you charge for.

 

On top of all that, I would advise her to go work for the competition for a few months so she can gauge the market, make friends and get known around town. Easy cash money each day. She will also find an assistant to take with her when she leaves.

 

When she graduates her Masters find a way of getting the story in the local paper and any relevant Thai forums, etc.

Edited by blackcab
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KMartinHandyman Senior Member

KMartinHandyman

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Ive never heard of a poor dentist. We know a lot of dentists...

Interesting statement as your wife is the dentist.
You started this thread convinced you’re onto something with visions of ฿500k a month dancing in your head and trying to get others to agree with you in my opinion.
I think it’s time you close it and get on with your venture and reopen it someday and let everyone know how things worked out.
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FritsSikkink Diamond Member

FritsSikkink

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1 hour ago, ubonr1971 said:

Ive never heard of a poor dentist. We know a lot of dentists...

Ask them how much their profit margin is then you know more about how successful you can be. Revenue says nothing if you don't know the cost of materials etc. What does it cost to buy a crown, how much do you sell them.

Edited by FritsSikkink
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