ROI Corporation is pleased to present this listing in conjunction with #4621 and #4622. This is truly a rare opportunity to purchase a state-of-the-art facility poised for success. Our client identified an exceptional location in one of Canada’s busiest shopping centres directly across from a medical clinic and Shoppers’ Drug Mart. Due to the sheer size of the shopping facility (85 acres of retail and 300+ shops and services), there are other dental offices but none with this premier location. Built in 2018 as a dream office, our client must now divest ownership due to a serious health issue. Building an office today of this calibre will easily cost a minimum of $1,300,000 in equipment, leaseholds and soft costs.
The dental office occupies approximately 2,000 square feet. There are presently 4 operatories with a 5th plumbed and wired, a private office, business office and staff room. The office is set up and compliant with IPAC, Xray and COVID protection program. In light of the pandemic, our vendor has also made the appropriate modifications to the operatories as well as having air purifiers in each operatory. Please click this link to view a brief tour of the office.
This is an extraordinary turn-key opportunity. The owner will continue to work if requested. This will most certainly guarantee that the 800 patients who have registered in the last 2 ½ years will stay with the practice. Our vendor currently is only able to work 14 hours per week due to health. As a result of our client’s limited schedule, hygiene is also only available for the same hours. A receptionist is present even when services are not offered. A location of this calibre should be open closer to 60 hours per week in order to achieve its true potential.
65% of the dentistry offered is easily duplicatable. The vendor refers out 35 procedures monthly consisting of perio, pediatric, endos and ortho cases/invisalign. The current hours must be expanded to meet existing and new patients’ needs. In non-lockdown periods, the office, without any marketing efforts attracts 30 new patients monthly simply due to its location within the mall. For the past 3 months with the serious measures affecting retail spaces, our client still attracted 10 new patients monthly. A new owner can capitalize on this warm start with a focused marketing plan, expanded hours and consistent protocols. This is an assignment practice with 80% of patients having insurance coverage. Since re-opening in June 2020, the clinic does not accept social service patients.
The current lease has terms and renewals until September 2032. There is a demolition clause, however, it has been postponed for 10 years. Given the location, size, history, anchors within the shopping centre, and investment in capital expenditures since 2017, the likelihood of demolition occurring is extremely low. Demolition clauses with major landlords are now common. Rental costs are definitely above average, however, dental offices operating at full capacity with strong hygiene programs, find these locations highly lucrative.
This exceptional opportunity should be considered for the right buyer who appreciates the potential a location such as this offers. A new owner can dedicate one operatory alone for whitening, clear aligners, botox for therapeutic purposes, dermal fillers for lip enhancement and other cosmetic dental services.
Highlights of this practice include:
- 35 referrals for perio, pediatrics, endos and ortho/invisalign each referred out monthly
- Assignment practice with significant number of patients with comprehensive insurance
- 2000 square feet
- Clinic records, charts and x-rays are stored digitally
- 4 operatories + potential for a 5th
- Software used is Tracker
- High density/growth area
Additional Purchaser/Advisor Information:
- A Virtual Tour and Practice Profile will be provided within 48 hours of your request
- A Webinar will be available for qualified candidates on Friday, April 16, 2021 from 9am to 9pm.
- The Appraisal will be available following the webinar
- A Confidential Open (by appointment only) will be held for parties seriously considering this opportunity on Sunday, April 18, 2021
- The Offer Request Form must be submitted 48 hours prior to the Offer deadline
- Offers must be submitted on or before Friday, April 23rd, 2021
- 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