Unbelievable cash flow! That is what this small-town northern Ontario practice offers to the adventurous and ambitious buyer. It is a cost-share practice wherein both dentists have their own practice, but practice assets are jointly owned, and overhead expenses are shared. Hygienists are shared, but each partner has their own front desk and assisting staff.
Originally started in 1993, the current owner worked as an associate at the practice before purchasing it in 2001. The practice occupies the ground floor of a two-story building that is exceptionally well maintained. The practice itself is impeccable. The combined practices consist of 9 operatories, of which 3 are used by the vendor, 4 by the hygienists, 1 by the cost-share partner, and 1 for emergencies or overflow. The community is a combination of French and English-speaking residents in an area where forestry is the dominant industry; because there are no specialty practices within a reasonable distance, most procedures are done in-house.
The current owner is selling as part of his long-term retirement planning, but he is agreeable to maintaining his current schedule for 5 years after closing if requested to do so. Consequently, this practice would be of interest to both the hands-on and Investor Dentist™. The owner has not yet incorporated, but there is a separate management corporation for hygiene. This structure may be changed prior to closing.
Highlights of this practice include:
- 2,116 individual patients seen in the past 12 months, 4,134 in the past 24 months, 6,312 in the past 36 months.
- 4 hygienists contribute approximately 50% of gross production.
- Owner works 4 days per week plus one Friday per month. No evening or weekend hours.
- The practice is digital and chartless.
- Spacious and well-maintained office.
- Rent only $25K per year.
- Dentist owns 25% of the building.
Additional Purchaser/Advisor Information:
- An appraisal will be provided to qualified candidates who have completed a ROI Corporation confidentiality agreement.
- A showing of the practice will be arranged by appointment.
- Offers will be considered as they are received.
- 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.
- The vendor’s preferred closing is not later than September 30, 2021.