How Dr. Linda Zhu brought her passion for dentistry to the community of Invermere, BC

Dr. Linda Zhu is one of these people. She’s been practicing dentistry for four years now. 

“When I was young, I really enjoyed going to my dentist. I felt like my dentist was a hero for fighting off “sugar bugs” and keeping my teeth clean,” shares Dr. Zhu. “Growing up I would shadow a lot of dentists. I learned that dentistry was a career that would allow me to make a difference in the community.”

Luckily, Dr. Zhu knew early on what she wanted to do with her career, which is why she pursued opening her own dental practice. She explains that she loves dentistry because it allows her to give back to the society that has given her so much. She gains great satisfaction from relieving patients of pain, constructing beautiful smiles, and bringing health and happiness to other people’s lives. 

After completing a Bachelor of Health Science Honours Degree from McMaster University, Dr. Zhu graduated from the University of Toronto’s Faculty of Dentistry where she received the Davis Orthodontic Prize. She then went on to do extensive implant training at the Advanced Dental Implant Research & Education Center in Canada, and worked at one of the largest dental corporations in Canada before seeking out her own practice.

Welcome to Lifepath Dental Centre

Dr. Zhu began to reflect on the next steps for her career and the lifestyle she and her family wanted to lead. 

After much consideration, she and her family decided to relocate to Invermere, British Columbia. 

“I wanted to move to Invermere because I love the small-town lifestyle and enjoy the outdoor paradise that Invermere has to offer,” explains Dr. Zhu. “Invermere is situated in the Columbia Valley with lots of hiking trails, beautiful lakes, ski hills, golf courses and hot springs. It feels like a vacation everyday in Invermere. I also decided to move to Invermere because there is more need for dentistry here. The people here usually have to wait a long time to be seen, so I wanted to go where I’m most needed.”

It was a win-win decision to relocate to Invermere, since it provided Dr. Zhu with the work-life balance she was seeking. She also knew she’d have a meaningful impact in the community, which was important to her. 

While there were some other dental clinics that she was considering purchasing, in May 2022 Dr. Zhu decided to buy Lifepath Dental Centre. Opens in a new window. It’s been operating under her leadership ever since. 

“I chose to purchase Lifepath Dental because Invermere is a booming town and the population has grown in the last 5 years, according to Census Canada,” says Dr. Zhu. “The clinic is strategically situated on Highway 93 with thousands of vehicles passing by each day. It’s also beside a Tim Hortons that generates a lot of foot traffic and exposure.” 

These stats are all promising, but what really sealed the deal for Dr. Zhu was that “This dental centre was initially a Dental Hygiene Clinic that had only been open for a year and a half, but already had 1,860 patients. The population to dentist ratio is also good because there are only 4 dentists in town servicing approximately 11,000 people in each area,” she adds.

How CIBC helped make Dr. Zhu’s ambitions a reality

Since taking over the practice, business has been booming for Dr. Zhu. 

“Initially I was nervous about taking ownership of the practice because 2 associate dentists were leaving since this clinic isn’t big enough for 3 dentists,” she explains. “But I’ve received tremendous support from all the staff who decided to stay on with me. They helped introduce me to patients, which helped them feel at ease about the new face in the clinic. The patients are very appreciative of the dental services we provide. In fact, since I started practicing dentistry at Lifepath Dental in mid-July 2022, we’ve received 4 flower bouquets, 2 cards and 44 5-star reviews from patients who wanted to show their appreciation. I was also really lucky to hire an additional hygienist to help the backlog of hygiene patients that were originally booking 6 months in advance.”

That said, there were some other causes for concern about purchasing this practice that CIBC helped Dr. Zhu to navigate. 

“I was nervous because this was my first clinic purchase and there were a lot of unknowns,” says Dr. Zhu. “Was the revenue as high as the seller claimed? Is the clinic worth the price? Will I be able to reduce expenses? Luckily, my business financial advisor at CIBC was able to hold my hand through every step and help me find answers to these uncertainties. They ensured that the revenues were accurate by going through each bank deposit statement, production report and tax form. This was very difficult because the clinic was a branch associated with another clinic, so the financials were mixed together.” 

“My advisor went above and beyond to help me figure out the financial situation,” Dr. Zhu boasts. “To make sure that the clinic was worth the selling price, they collected receipts from the seller about renovations and equipment to calculate the asset value of the clinic. That said, an independent appraisal was completed to value the business to get the full financial picture. They also helped me go through each expense item. We worked together to come up with a business plan to reduce expenses. They had a lot of experience working with other dentists, so they gave me great suggestions on how to manage my transition. For example, my advisor thought it would be a great idea to have the two associate dentists stay on for two months while I adjusted to the new clinic. It turned out that their advice was super helpful because I really needed that time to figure out how to run a clinic. Having an expert financial advisor on my team made the process much smoother and gave me the confidence that I needed to proceed.” 

In addition to understanding the financial health of the practice, there was another unique factor to purchasing the business – it’s located on the Shuswap Reserve, one of 19 non-member owned businesses. 

Dr. Zhu shares that “It can be challenging to get a mortgage on a building located on reserve land. However, my advisor helped me navigate the legal aspects of the purchase by putting me in touch with local lawyers who specialized in these types of transactions.”

Dr. Zhu also praised CIBC by saying, “CIBC’s financial team worked hard to help me make my dream of having my own practice come true. But they didn’t stop there. After approving my loan, another Senior Financial Advisor, Roy Cho, stepped in to help me plan out my loan repayment strategy and set me up with my business accounts and credit cards. Despite not having previous knowledge of managing business accounts, the whole process was so easy. It would have been so daunting if it wasn’t for Roy, who was so patient in explaining how everything works.” 

Since taking over the practice and considering its location, Dr. Zhu has taken great care to ensure she is being mindful and respectful of the history and needs of her community. She highlights that through relationship building, she ensures Indigenous patients have equal and timely access to dental care.

“I make an effort to get to know my patients, particularly my Indigenous clients, so that I can learn more about their stories and better understand how to meet their needs. I’ve also spent time educating myself about Indigenous history so I have a stronger understanding about the cultural identity of my community. I encourage my staff to be inclusive and welcoming towards all of our patients, as well as have a humble attitude.”

After going through this extensive process of vetting, purchasing and running a business, Dr. Zhu has some helpful tips for other prospective dentists or business owners looking to buy an existing business:

• Be well prepared to be an owner. There is a big difference between being a dental associate (or staff member) and a practice owner. Other than clinical work, an owner also needs to manage staff, worry about expenses and tackle unexpected issues, such as equipment breakdown, staff calling in sick, insurance not paying and more. Being an owner, you’ll face more mental and physical stress, but it’s a more fulfilling experience.
• Work with a strong financial team. I was lucky to work with the CIBC team for my practice purchase. My advisor was very responsive and helpful to meet tight deadlines. They guided me through the purchase process since I didn’t have much experience in this area.
• Don’t be afraid to ask questions. If there is a location you really want to work in, just ask the owners if they might be selling. Lifepath Dental wasn’t listed on any website. Instead, I  approached the owner and asked if they wanted to sell. If I hadn’t asked the question, I wouldn’t now own my dream clinic.
• Have a strong network. My classmates from dental school and dental colleagues gave me tremendous support and constructive advice along the way as I navigated the purchase process. They continue to help me every day. I wouldn’t be here if it wasn’t for them guiding the way. As well, having strong family support is very important.