Ref# 4749
Central GTA
ROI is ecstatic to welcome this remarkable opportunity to purchase a 5-op, family-centred practice! Originally established in 1981, and operating from the current location since 1993, our client has been devoted to forming meaningful relationships with the surrounding community and a strong dental team. Our client owns the property which is also available to purchase.
The practice is in downtown Toronto between Bloor Street and Front Street. Well-known known for being one of the best places to live in Toronto, the neighbourhood offers homey coffee shops, fashionable eateries and independent boutiques and shops. The streets are lined with Victorian homes with access to the TTC on nearly every corner and just minutes from the madness of “the core”. While always vibrant, the neighbourhood has changed dramatically in the past ten years becoming even more trendy. Many new developments in the recent years have increased the population density as well as potential new patients.
The main and second floor which houses the dental office spans approximately 1,800 square feet. The basement is approximately 500 square feet. On the main floor there are 5 operatories, upgraded sterilization centre, reception and waiting area, patient washroom as well as laundry room/storage area at the back. The private office, staff room, 3 pieces staff washroom and kitchen are located on the second floor. Great lengths have been taken to ensure clinic is COVID compliant. HVAC (central cooling and heating) is equipped with HEPA-UVC-PCO air cleaner. Glass doors have been installed to enclose operatories along with surgically clean air purifiers with HEPA filters and UV lights. With the clinic facing south, plenty of sunlight fills reception creating a warm and welcoming environment. The practice strikes the perfect balance of feeling comfortable and welcoming while offering top of the line technologies. Over the years, the office has undergone several renovations to ensure patient comfort and care. The practice converted to digital x-rays in 2017 however, paper charts continue to be utilized.
The patients respect the dentistry offered and follow through with recommended treatment. A strong recall program is in place with 60% attending every 4 months and 40% every 6 months.
The patient base is diversified averaging 15 new patients per month. There are over 1,200 active patients. The practice accepts assignment and follows strict financial policies. Co-payments are collected either at the time of appointment or at their next appointment for longstanding patients. Written estimates are given before major treatment and patients sign financial contracts if payment plan is arranged for treatments such as Invisalign. Marketing efforts are nominal, which is usually the case for these well-established, multi-generational offices. All inbound referrals come from current patients.
The practice is open approximately 39 hours or 5 days per week. The office is closed on Fridays. This practice will provide the new owner with the great potential to further develop the practice. Evening hours as well as Friday hours would provide great convenience to the many families and young adults who attend the office. Additional hours could easily be supported by the demand of the current patient base.
After 42 years in practice, our client is choosing to retire. A smooth transition will be provided to ensure the new owner’s success.
Highlights of this practice include:
- Excellent Google reviews
- Well-trained staff all on written contracts
- Hygiene team generates 28% of Gross
- 98% of the patients live and work within 5km
- Assignment with 90-95% patients having comprehensive insurance
- Minimal accounts receivable
- Excellent signage on the building and property
- Opportunity to own building or an excellent lease without a demolition clause and first option to purchase will be provided
- 15 new patients/month
- 1 Associate; 2 hygienists
- Marketing efforts are focused mainly on social media and the physical location