Dr. Dawn

After opening her clinic in June of 2009, Dawn and her husband, Lou (who is her veterinary technician and practice manager), almost immediately had to overcome some unanticipated challenges. The practice she purchased was in decline because unbeknownst to her, the seller had a poor reputation in the community. “Brian Faulk, the Sr. Loan Officer at Live Oak, gave me a boost of confidence. He told me that there was concern about the struggling practice but said that he was investing in me as a business owner because he believed I could be successful,” expressed Dawn. Another veterinary clinic opened up a stone’s throw away from her office, which equaled three competitors within view of her business. As though those obstacles weren’t enough to overcome, after closing, she learned that the building had structural issues and within her first year of opening, the city began major construction on the main road in-front of her building making access to the clinic difficult. The construction narrowed a six lane major thoroughfare into just two lanes.

With the help of an arc loan from the SBA, Dawn has turned things around and had a great year in 2011, increasing revenues by 25% over 2010. In January of 2012, she was already up 40% over 2011. How’d she do it? Hard work, new marketing techniques and a little luck. After approximately ten months, the road construction finally ended, allowing her customers easy access to her clinic. She was slowly able to change the perception of the practice, and she took the time to inform her customers about being more pro-active with the health of their pets. On the marketing side, she launched a new website and facebook page and purchased a new road-side sign that was more impressive and visible than what she’d had previously. She also purchased an AAHA reference guide to ensure that her pricing aligns with over veterinary practices. Now, most of her new business is generated by her online presence and through referrals.

“Live Oak Bank not only provided me with sound marketing advice regarding having an online presence and increasingly my visibility locally, but they guided me from a business management perspective. They provided me with the tools to do future projections, so I can more accurately track my expenses and ensure that I stay within my budget,” said Dawn. “When Chip Mahan, Live Oak’s CEO, came to visit my clinic, he even encouraged me to think about acquiring an additional practice in the area and offered valuable insight on expansion and ways to bolster my business.”

“Between Dawn’s hard work and Live Oak’s advice pertaining to marketing ideas and coaching her on better managing her finances, her veterinary clinic has made a remarkable turnaround. Things are looking up for this practice, and we couldn’t be more proud of the progress,” commented Chip Mahan.