Update: Additional Open to be hosted on Sunday, September 11
ROI Corporation is thrilled to have the opportunity to sell a practice of this caliber. A pillar of the community, this dental office was established in 1991 and has been valuable in the lives of its patients.
Situated within an hour of Kitchener/Waterloo, Orangeville and two hours from Toronto, the new owner will enjoy the benefits of owning a dental practice in a small town community. There are many reasons practices thrive in a small-town setting. Whether it be friendlier/less demanding patients, less traffic, lower cost of real estate, or a quieter lifestyle. Owners of these practices definitely do not face the same level of stress as their colleagues in the GTA. More importantly, the level of profitability enjoyed by the owner is also greater, as evidenced by the cash earnings of this clinic.
Our client has a young family and wishes to sell to enjoy a better work-life balance. A smooth transition will be provided, and our client is open to staying on in a reduced capacity. The building is also for sale.
The area the clinic is situated in is undoubtedly expanding. The pandemic has enabled people to move out of GTA in order to find a better quality of life while working from home. Currently, 400 new homes are in the process of being built.
This practice has earned an excellent reputation by ensuring that patients are respected and their needs are heard. This type of attention to detail has allowed the owner of this practice to have loyal, long-standing patients – some of which are now multi-generational. Creating a warm and caring environment takes tremendous effort, attention to detail and well-trained staff.
Despite the various restrictions over the past 2 years, this practice has demonstrated consistent results. There is always a backlog of patients, and hygiene is booked out more than 2 months ahead. There are approximately 1,400 active patients. This is an assignment office, and only 5 social service patients in total exist in the practice. This practice does an excellent job in collecting, and as such, accounts receivable are nominal.
Our client enjoys a schedule that does not see clinic hours past 4:30 pm Monday to Thursday, 2 pm on Fridays, and no weekends. With the backlog of work, hours can easily be expanded, thus enabling a new owner to continue room for growth. While patients can receive comprehensive services such as extractions for wisdom teeth, molar endos, and implant placement, at least 50 referrals are made each month for ortho, perio, oral surgery, and implants. Our client simply does not have enough hours in the day and therefore chooses which treatments to provide in house.
Located on the main street, this office was renovated in 2013. Spanning just under 1,500 square feet, every inch of this building has been used effectively. The modifications for pandemic compliance have been done tastefully in order not to affect the aesthetic feel of the office. There are 4 well equipped operatories, sterilization area, private office, business office, lab and a staff room. The team consists of 2 hygienists accounting for 30% of production, 1 assistant and 2 receptionists. Air exchange units have been installed to ensure maximum airflow and the software used is AbelDent.
Highlights of this practice include:
- Approximately 50 cases referred out each month (perio, implants, surgeries, endo, ortho)
- ~25 new patients per month – referrals/walk-ins
- No external marketing, website, or social media
- Very low accounts receivables
- No providers work weekends
- Building also available for sale; the appraised value & asking price is $500,000
- Well documented protocols for practice management, sterilization, health and safety, human resources, COVID protocols, etc.
- An information booklet and virtual tour will be available upon request within 48 hours
- A confidential Open will be hosted on Sunday, September 11, 2022
- Appraisal will be distributed following the Open
- 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
For more information or to schedule an appointment, please contact Jackie Joachim, Sales Representative & COO and/or Constance Oly, Sales Representative.