We are pleased to relaunch this excellent opportunity for ownership due to many positive material changes. This practice was previously listed as #4483. The practice was originally appraised at $2,500,000 but our updated appraisal reflects many positive changes that have added value.
- Revenue and new patients in June, July and August 2020 exceed same months for 2019
- Addition of full-time endodontist contributing an additional $16k/month to total gross
- Increase in hygiene to 28% from 22%
- Flexible terms in purchasing the property
- Excellent transition with vendor
- Investment of $10,000 in new website, social media and SEO
This office, despite the closure for 12 weeks, has been consistently busy treating new and existing patients since reopening. The demand for pent up dentistry is keeping our vendor and team busier than pre-COVID days. The real estate, appraised at just under $2.1 million, is also available for sale. Owning real estate has many positives – no demolition clauses, rent increases and difficult landlords. Since the amount of rent is similar to the cost of a mortgage and TMI, the purchase of real estate for this practice is an excellent opportunity to have your monthly rent go towards your own business.
We are also pleased to share that the banks are back to 100% financing.
Highlights of this practice:
- The practice originally started 41 years ago and was purchased by our vendor in 2010
- In 2014, the vendor moved it to the present location which is in a highly visible and well trafficked location
- Ample parking and easily accessible by public transportation
- Our client is the principal dentist with 2 general associates and 2 specialists all on written agreements
- Staff are on contracts
- The premises are ~2,300 square feet, owner occupied and also available for sale, so no danger of demolition clause or restrictive landlord
- The active patient base of 1,100 continues to grow by welcoming an excellent 25-30 new patients per month plus 5 emergencies
- 85% of the patients have good quality insurance
- 5 operatories equipped with the all the modern technology a dentist would desire
- The practice provides patients with a full spectrum of general and specialty treatment
- Growing community – 4 new condos within 2 km of the of this office
- The cost of owning the property is similar to the rent paid to independent landlord
Additional Purchaser/Advisor Information:
- A Practice Profile will be provided on Tuesday, September 8 to those who have requested further information
- A Virtual Tour will be provided to pre-qualified purchasers prior to the webinar
- A Webinar will be held on Thursday, September 10, 2020 @ 7pm (ET)
- Please click here to register for the Webinar
- A Confidential Open (by appointment only) will be held on Sunday, September 13, 2020
- The Appraisal will be distributed following the Open
- The Offer Request Form must be submitted 48 hours prior to the Offer deadline
- Offers must be submitted on or before September 25, 2020
- Offers should be accompanied by a certified cheque payable to “ROI Corporation IN TRUST” equal to 10% of the offered price for the practice
- ROI Corporation will prepare all offers on our standard forms for your lawyer’s review
ROI Corporation continues to encourage buyers who are ready to own their own practice as these past 3 months have clearly demonstrated the resiliency of dentistry to both recession and pandemic. Lenders continue to support the dental industry and we continue to receive offers on our other practices which demonstrates the strength of the industry.
For additional information, please contact Jackie Joachim, COO & Sales Representative.