Reduced Asking Price; Initially listed with an Asking Price of $1,500,000
ROI Corporation is committed to always presenting the most accurate information. Since originally bringing this opportunity to the market, we are pleased to inform prospective purchasers that an additional $85,000 is added to the cash earnings. Our client is the owner of multiple offices and as such a review of wages revealed a misallocation of salaries that is not required by this practice.
Our client is looking to sell this practice to pursue other business interests. The office has never had an owner working in the office. As such, this is an excellent opportunity for someone to purchase his/her own office to work and have associates.
The practice is situated in a prime location that is easily accessible by patients. The area itself is undergoing significant development. Adjacent to major arterial roads, this practice enjoys unparalleled exposure. Lenders will support this transaction with 100% financing for clients with strong personal credit history. Given that this office has had a hands-off owner it presents a new owner with plenty of potential to implement policies and procedures that will increase revenue.
Presently, there are 3 associates and 2 hygienists with room to grow. Spanning almost 2,900 square feet, this practice has further room to grow in terms of patient base. There are currently 5 operatories. There are approximately 900 active patients. This is an assignment practice with 78% of the patients having comprehensive insurance coverage. The practice does have a 35% base of ODSPI patients. Many associates shy away from these patients, but as an owner, these can present many lucrative treatment plans.
We’ve been advised that Meridian Credit Union will provide 100% financing to a buyer with good credit history.
The community this practice is located in offers many growth opportunities. An economic report dated May 12, 2019 confirmed that from 2015 to 2018, nominal GDP increased by 9.4% vs Ontario’s GDP which grew by 5.1% during the same time period. In this same period, there were 10,520 new jobs created. From 2015 to 2018, construction investment grew by 56%, compared to 19% in Ontario. As an example, there are 13 new home developments consisting of a mix of high-rise and low-rise that are planned, under construction or recently completed. The average price of a home in this area is approximately $670,000
With respect to real estate, lifestyle, art, recreation, schools, culture etc. owning a practice in this region is the right opportunity for a purchaser who wishes to own, representing a complete career opportunity from which to plan out an extended and rewarding career. The clinic can also work for an investor dentist with the addition of another associate to replace the current owner.
Highlights of this practice include:
- Upgrades have been made to comply with COVID protocols
- Excellent lease which has terms and options until 2039 with no demolition clause
- Practice is in a standalone building with an apartment available on the upper floor
- Approximately 15-20 new patients each month with no marketing other than exposure
- Excellent visibility on busy major intersection
- 5 operatories; sterilization area, reception area, staff room, 2 washrooms, consult room, business and private office
- Opportunity to expand hours – currently no evenings or weekend
- Ample Free parking
- 3-bedroom apartment above the clinic which can easily be used for associates or staff that commute in from far distances
Additional Purchaser/Advisor Information:
- A Booklet and Virtual Tour will be provided within 48 hours of your request
- A Webinar recording will be provided to pre-qualified purchasers
- Limited appointments will be available on Sunday, June 13, 2021 to visit the practice
- The Appraisal will be distributed following the Webinar
- Offers will be presented as received
- A deposit will be required 48 hours of an accepted offer by way of 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