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Sale Structure: Share Sale
ROI Corporation is excited to represent this tremendous opportunity in Burnaby, BC. The Vendor has created a successful practice and is now ready to transition to a new chapter in life. To further add to this opportunity, our client owns the real estate that may be sold with the practice.
The practice is located within an active professional health building with other strong tenants and is truly a rare find. It offers a well established, excellently located dental office with high dental IQ patients. Lenders will support this transaction with 100% financing for clients with strong personal credit history. The internal systems that have been developed, well-trained staff and move-in facility ensure that few changes or additional capital investment are needed.
The clinic is over twenty years old with two part time Associates working in the practice. Our client is ready to scale back and begin entering semi-retirement. The practice currently averages 16 new patients per month with no real advertising. New patients are all referral based. The clinic itself is almost 1,200 square feet with 4 operatories. Our client enjoys more than 1,500 active patients, with hygiene representing approximately 25% of the gross revenue. This is an assignment practice. Because our client owns the real estate, there is no fear of demolition or relocation by landlord. There continues to be room to grow with this practice. Our client originally purchased the office while it was in Vancouver in 1999 and moved to Burnaby in 2005. The office was renovated in 2015.
Buying an existing practice has several clear benefits - not the least of which is the fact that by buying a practice that has been in the community for some time, you are inheriting a wide patient base who will stay with you through a smooth transition. Purchasing an existing practice allows you to start working with an experienced staff who not only have the trust of the patients but also know the day to day operations. Definitely an excellent opportunity for practice ownership in the GVA.
A Practice Profile for this clinic will be distributed upon request to parties who have signed the ROI Confidentiality Agreement. Buyers will also be able to view the Virtual Tour for 24 hours commencing at 5pm on Friday, June 14th. A link and password will be provided and therefore, you must send an email to email@example.com to obtain these. Following the Virtual Tour, interested buyers will have the opportunity to contact us in order to be invited to the Exclusive Preview.
We will be hosting the Exclusive Preview on Sunday, June 23rd at the Delta Hotel located at 4331 Dominion St. in Burnaby. An RBC representative will be in attendance to answer any of your financing questions. During this presentation, we will discuss specifics such as location, ownership, operations and financial results. Buyers will be expected to arrive at 9:45am with the presentation commencing promptly at 10am. Following the presentation, a physical tour of the practice will be conducted.
- Over 1,500 patients with 16 new patients monthly
- 4 operatories
- Dedicated and well-trained staff
- Excellent location in a high foot traffic commercial plaza with strong tenants
- Ample and free parking with public transportation access
- No evenings offered, therefore potential to expand hours
- Real estate owned, therefore, no threat of demolition or relocation clauses
Additional Purchaser/Advisor Information:
- A Virtual Tour of the practice will be available this Friday for 24 hours commencing at 5pm
- Exclusive Preview and Confidential Open will be held between 10:00am-10:45am on Sunday, June 23rd followed by a practice tour between 11:15am and 1:00pm.
- The Appraisal will be released upon email request 5:00pm on Tuesday, June 25, 2019
- Offers will be due no later than 5:00pm on Thursday, July 4, 2019
- ROI Corporation will prepare all offers on our standard forms for your lawyer’s review
- Offers should be accompanied by a 10% deposit, payable to “ROI CORPORATION IN TRUST”
For more information, please contact Cathy Scott, Associate.