We caught up with the brilliant and insightful Patrice Smith a few weeks ago and have shared our conversation below.
Patrice , appreciate you joining us today. Setting up an independent practice is a daunting endeavor. Can you talk to us about what it was like for you – what were some of the main steps, challenges, etc.
Ever since the thought of becoming a dentist crossed my mind as a teenager, I envisioned having a practice of my own. The thought of working for someone conflicted with my desires because many people close to me worked for themselves. I can recall my parents owning supermarkets, my dad running multiple businesses and even being privy to practice ownership through my high school mentors. Those formative years led me to this moment. A few years post-residency, armed with a variety of experience in the field of dentistry, my dream of opening my own dental practice would soon take shape.
There are many confusing and overwhelming factors involved in opening your own dental (orthodontics) office. When deciding on opening a dental practice, you must first decide whether you want to start your own dental practice from scratch (build out) or if you want to purchase an existing practice (acquisition). My knowledge of acquiring a practice was limited but with the help of a small team of professionals the process was made much easier.
The decision to go the acquisition route was based on my personal needs and priorities. This will look different for everyone. Although I was not opposed to the idea of a practice start up, I wanted to get into a practice with an existing patient base but also one that allowed me to grow into it. Because of this criteria, finding a practice was not easy. It took months of research and once the “ideal” practice was found, several months of negotiations.
Sources from the internet will tell you that it takes on average 9-12 months from the start of your acquisition search to opening your business. It took me about half that time (including down time due to COVID), mainly due to the buyer and seller’s eagerness to come to an agreement fairly quickly.
I actually wrote about my process in this blog post
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers
I’m Dr. Patrice Smith, an Orthodontist who is multi-passionate. I pride myself on being a bit “UnORTHOdox” and have dubbed myself The UnOrthoDoc.
I was born and raised in beautiful Jamaica! I moved to New York City where I completed my undergraduate studies and was later accepted into Dental School in the nation’s capital (Washington, DC) where I received my Doctor of Dental Surgery (DDS) degree from Howard University. I am obsessed with esthetics, perfectly aligned teeth and beautiful smiles and as such pursued a career in Orthodontics. I am a practicing Orthodontist in Washington, DC where I create beautiful smiles in my boutique private practice, Infinity Orthodontics.
I enjoy writing and have had several blogs where I share my experiences as I go through life balancing all aspects of my professional career, entrepreneurship, creative side hustles and motherhood. When I am not creating smiles and meddling in a host of entrepreneurial endeavors, I’m blogging, traveling, participating in various philanthropic projects and creating divinely scented candles for my candle company, UnOrthoDoc Candle Co.
My aim is to inspire young professionals like myself lead a balanced, purpose filled “UnOrthoDoc” lifestyle while on the path to personal, professional and financial development.
Let’s move on to buying businesses – can you talk to us about your experience with business acquisitions?
Yes! In 2020, in the height of the pandemic. I took a leap of faith and acquired an existing Orthodontics practice in downtown Washington, DC. I have written about the process here 
Have any books or other resources had a big impact on you?
Yes! Recently I read five books by women authors that I think every leader and/ or entrepreneur should read. I have outlined them here
The book We Should All Be Millionaires by Rachel Rodgers ignited a fire within me. It helped me to realize my worth and I have since increased production in all my businesses (side hustles included).
Contact Info:
- Website: Blog: https://www.theunorthodoc.com/; Practice: https://www.infinityorthodc.com/
- Instagram: Main: dr.unorthodoc; Practice: infinityortho; Candle co.: unorthodoccandleco
- Facebook: https://www.facebook.com/theunorthodoc; practice: https://www.facebook.com/infinityortho/
- Linkedin: https://www.linkedin.com/in/patrice-smith-dds-80696431/
- Other: Pinterest: https://www.pinterest.com/theunorthodoc; Practice: https://www.pinterest.com/infinityortho/