ROI Corporation is thrilled to represent a very rare opportunity to own an exceptional practice in an upscale and diverse neighbourhood populated by high dental IQ patients in this young, fast growing city.
For over 25 years, our client has taken great pride in building a practice where patients appreciate the quality of dentistry provided, exceptional professional service, knowledgeable staff and comfortable surroundings. Located in a bustling, well maintained storefront this retail plaza features medical offices, a pharmacy, as well as cosmetic and beauty facilities. This practice ensures patients have a positive experience while effectively communicating the importance of oral health. Most patients have a comprehensive dental insurance plan and are very receptive to treatment.
Our client’s office is located in an area experiencing a population and home building boom. It is surrounded by a mature and diverse upper middle class neighbourhood with many growing families and an annual household income averaging $115,000. The practice itself is in a highly desirable location, with excellent visibility, ample parking and is easily accessible by public transportation.
Our client, with this offering, is looking for the right buyer to take over the practice and carry on providing excellent dental treatment to these delightful patients. The practice is presently open 49 hours per week but has definite room to expand the schedule.
The premises combine classic elegance, accentuated by contemporary stylings, providing a warm and welcoming atmosphere and instilling a sense of professionalism and relaxation in patients, both adult and children. The practice currently occupies a ~2,000 sq. ft. unit consisting of 5 operatories, 2 offices, a consult room, staff room and two washrooms. There is certainly room to expand and even potential for a small in-house lab. An excellent lease is in place offering exclusivity, no demolition clause, and very attractive fixed rent with renewals until 2032.
Currently, there are 2 hygienists producing 47 hours a week of hygiene. The practice is open Monday, Wednesday, and Thursday until 6pm, Tuesdays until 8pm, closed Fridays and 2 Saturdays per month. This practice is primarily preventative and restorative allowing the new owner to not only easily take over but to expand with additional services. Our client is prepared to assist in a smooth transition for the new owner.
Highlights of this practice include:
- Well-established neighbourhood with a strong mix of residential, retail, and commercial economic activity
- High density/growth area at a major intersection within walking distance of a major retail hub
- Room to extend hours
- At least 10 new patients per month with 95% of the patients living/working in the immediate area
- Utilizes all high-tech equipment
- Implementation of an infection control compliance systems that exceed provincial and RCDSO standards
- Assignment practice
- Efficient operations with negligible AR
- Excellent lease with very attractive fixed rent and renewals until 2032; No demolition clause, exclusive on the plaza and historically reasonable landlord.
Additional Purchaser/Advisor Information:
- A Practice Profile will be provided within 48 hours of the request to those who have signed a confidentiality agreement
- A Virtual Tour will be provided to pre-qualified purchasers prior to the Webinar
- A Webinar will be held on Tuesday, May 25, 2021 @ 7pm (ET)
- Please click here to register for the Webinar
- A Confidential Open (by appointment only) will be held on Sunday, May 30, 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 Friday, June 11, 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 forms for your lawyer’s review.
- The Vendor preferred closing date is July 30, 2021