Timothy Garofolo, DDS, bought and relocated a dental practice and hit severe financial and operational trouble. Wes Read and Practice CFO built him a recovery plan that integrated his practice finances, payroll, and personal money. He went from crisis to stability and growth.
Well, when I came in to meet Wes for the first time at cfo, I was in a very bad situation financially, mentally, I guess you could say. Spiritually, I was. I had a lot of problems in my early years of buying a practice. I had been through, you know, a transition in moving my office to a different location, doing a new build out. I had gotten into a lawsuit with my old landlord at the old location. I had also been mismanaged by former accountants and pretty much was a sinking ship. And I remember having the first conversation with Wes and I could see the fear in his eyes when he was looking at my numbers. But I like that he didn't really lose his nerve and sat down with me and was able to make a plan, a short term recovery type plan and then a long term growth plan that we've been able to stick to. And you know, over the years, you know, Wes is one of a very short number of people that bailed me out and all of practice CFO when I didn't think I was going to make it as a, as a business owner or a dental practice here as a dentist practice. CFO is built for dentists and they honestly have your best interest in mind by the way that they can make a plan that is integrated with not only how the numbers in your practice work, but also through your payroll and your personal. So it's all one plan that's really well choreographed and that's something that I think is a benefit. I haven't been able to find that anywhere practicing for about 10 years practice prior. And so I'm just really grateful that I found them and I don't see myself really ever, as long as I'm a dentist working with any other group at all. The benefit that practice CFO has is that they are in hundreds of dental offices around the country. So they know what numbers should look like, they know what percentages of payroll, of rent, of supplies should be. And they'll hold you kind of accountable to those numbers which will really help you stick to your plan and your path of growth and savings that's invaluable. I've worked with several accountants in the past that yeah, I've had some dentist as clients, but they put you in their accounting cookie cutter plan. But this integrates your practice and your personal into one overall plan so that it's a highly integrated system that really allows you the freedom and peace of mind knowing that you are doing the right moves financially even if you don't own a practice. I think that if you are a dentist being affiliated with practice CFO and the amount of connections that they have with other practicing dentists, they're very good friends to have in the dental world, for sure. So, you know, I give them six out of five stars for sure.
