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Building his new premises from the ground up was fraught with dramas, but now he’s come out the other side, Sunshine Coast orthodontist Dr Vas Srinivasan says he has advice for anyone thinking of doing the same. By John Burfitt
There were days Sunshine Coast orthodontist Dr Vas Srinivasan admits that he stood on the construction site that would become the new premises of his Invisible Orthodontics clinic and wondered if expanding the business had been the right call
“And there were many sleepless nights as well, wondering what on earth was I thinking,” Dr Srinivasan says. The new premises, which commenced construction in late 2023 and opened months ago in July at the cost of almost $12 million, tripled the size of the original clinic and set up the business, he hopes, for the coming decade.
But while he’s thrilled with the new clinic he created, Dr Srinivasan admits the process represents one of the most challenging chapters of his career.
“Seriously, I am planning to write a book about what happened, as a cautionary tale for any other dentist or small business owner about what can and possibly will go wrong along the way when growing your business,” he says.
“Expansion is an important step for many clinics, but even when you have done all your due diligence and have everything in order, there are factors that can undermine everything. One of those factors saw the rug completely pulled from the deal, so that I had to mortgage my house.”
Grand plan
Indian-born Dr Srinivasan undertook his dental studies in India and the United States before specialising in orthodontics at the University of Sydney after moving to Australia in 2003. He has since established an impressive position as one of the pre-eminent orthodontists in the Sunshine Coast at his Parrearra clinic.
Seriously, I am planning to write a book about what happened, as a cautionary tale for any other dentist or small business owner about what can and possibly will go wrong along the way when growing your business.
Dr Vas Srinivasan, owner, Invisible Orthodontics
The decision to expand Invisible Orthodontics was triggered when a corporate orthodontic competitor moved into his Sunshine Coast neighbourhood a few years back. When they became increasingly active in their marketing activities, often targeting the same patients, Dr Srinivasan knew he had to plan for the future of his business.
“The amount they spend on marketing is way higher than we could, and that made me wonder about how to manage the expectations of my patients against a clinic that had all the bells and whistles,” he says.
Aside from the new competitor, Dr Srinivasan also looked to the future dental demand of the local region. With planning for the Brisbane 2032 Olympics underway, Dr Srinivasan wanted his clinic to be ready for the growth he’s certain is ahead for south-east Queensland.
“As I’m 48, with maybe 15 active career years left, I wanted to build a practice that could handle a higher volume but also be equipped for a transition when another doctor joins the team and takes it over down the track,” he says.
Financial pain
Opportunity knocked in 2021 when a property on the same block became available. “Within a day, the agent called to say the owners were willing to sell,” he recalls. The new space meant the existing premises could be expanded to triple the size.
But first there was the matter of finances. “The biggest fear was whether I wanted a debt three times bigger than when I started,” he says. Unfortunately it was then he made a decision he came to regret. Due to a shortage of available contractors, he signed on to use a builder not on his bank’s approved list.
I now have a clinic that’s future-ready, that excites patients and staff and can eventually transition to allow new orthodontists to take over in years to come.
Dr Vas Srinivasan, owner, Invisible Orthodontics
“The banks have rules about builders who are not on their approved list for projects that exceed a certain amount,” he explains. “In my case, this meant my serviceability was slapped with an additional 15 per cent risk in payments.”
Things went from bad to worse when, on the eve of construction commencing, the original bank pulled the finances. “This meant I had to rework my plans,” he says. “Thankfully, with some clever work by Red Knight Financial Services, I was able to borrow from private entities, using my other assets like my house to complete the project.”
Without the budget for a project manager, he took on the role himself, requiring a dramatic restructuring of his daily clinic patient schedule. In November 2023, construction got underway. “Every morning, I was at the site at 6.30am to check in with the builders, then I had patients from 8.30am, then back onsite again at lunch, before attending to patient appointments all afternoon. It was intense, but I never once cancelled or rescheduled a patient.”
Only the best
As the intention was to set the clinic up for the future, Dr Srinivasan knew the latest technology had to be central to its operations. A self-check-in monitor was installed, along with a 3D hologram display to greet arriving patients. “It’s unique, and it makes patients feel acknowledged,” he says.
AI-driven clinical notes via the Plaud platform were incorporated which auto-generate patient notes and include an appointment summary. “What used to take up to 40 minutes now auto-generates within minutes, and is so comprehensive,” he says. “The timesaving has changed the way we all work.”
Another new process is the AI-driven Grin platform, allowing regular patients to scan their mouths via their smartphone and send the images through to flag such issues as plaque and cavities, allowing Dr Srinivasan to make a remote diagnosis. “This saves so much time for patients from unnecessary visits,” he enthuses. “They can also use simple remote monitoring system called OrthoScreening, which allows us to identify potential issues, saving us valuable chair time.”
Despite the upheaval of the expansion, the changes proved to be a strong motivating force among the clinical staff. “We didn’t have anybody leave, and everyone seemed excited that this was a big investment in the future,” he says. “Even on my lowest days, it was the team who would remind me how amazing this was going to be in the long run.”
Bigger and better
The new Invisible Orthodontics clinic opened on 15 July, with an increase in staff from seven to 16, and 12 chairs. “Everyone is dual-trained—assistants are also trained in admin, and we have a patient relationship manager, so it’s more efficient.”
Dr Srinivasan remains the only orthodontist on the team presently but plans to add more practitioners in the coming years.
Despite the huge investment and the stress of managing such high-stake finances, it’s paid off with a significant increase in business. “August was our busiest month since 2012, and we’re finding the new technology has given us the freedom to focus on ways to improve the business.”
Now that the dust has settled and a new ‘normal’ has been established at the clinic, Dr Srinivasan is confident the premises will indeed outlast his dental career. “I now have a clinic that’s future-ready, that excites patients and staff and can eventually transition to allow new orthodontists to take over in years to come,” he says.
“Every part of the effort was worth it, but there were so many pitfalls along the way that could have been avoided.” He laughs. “So I still plan to write that book!”
Four key pieces of advice Dr Srinivasan will include in his future book:
- Have large cash reserves: “At least 30 to 40 per cent. I didn’t, and that’s what caused so many problems. If you don’t have the cash, then don’t do it, or you are just gambling.”
- Build in cost buffers: “Add 10 to 20 per cent to whatever time and cost the builders tell you. It will take you longer than you expect.”
- Budget for completion costs: “You need funds for marketing, signage, even cleaning. We were so tight by the end, I didn’t even have $440 to have the exterior cleaned.”
- Future-proof the structure: Adding six apartments on top of the clinic means a passive income stream. “If business slows in the future, the rent will keep the business afloat.”
