Ref# 4931
Vancouver – Strata Appraisal Now Available
Nothing short of amazing, this stunning and unique opportunity is being presented by ROI as a “practice and real estate package” most worthy of your serious consideration. In this marketplace, to purchase a solid, profitable, well-established and successful practice consisting of high dental IQ patients is truly exciting. Our client is an excellent practice owner who has strategically grown this office with an ethical and professional approach since it was established in this location in 2001.
The practice is located in a sleek and boutique Vancouver community anchored by swanky lofts, trendy retail stores, patio cafes and haute cuisine restaurants, surrounded by luxury high rises and plenty of green space that weaves along the waterfront seawall.
The surrounding area continues to grow with significant nearby mixed retail and multi-family residential development as well as commercial development. The physical location is highly desirable: 1/2 block to the waterfront, easily accessible by public transportation (bus, SkyTrain, AquaBus), and offers ample parking.
The bespoke design of the office space and leaseholds, 2,046 sq/ft, is truly incredible and elegant. The office was designed by one of Canada‘s premier interior designers, Robert Ledingham, who worked with world-renowned architects Arthur Erickson, Barry Downs and Ron Thom here in Vancouver. An open and comfortable space, natural light, as well as privacy considerations have all been taken into account, providing a warm and welcoming atmosphere with contemporary décor that is enjoyed and appreciated by both patients and staff alike, not to mention the owner!!
The office is open 5 days a week, no evenings or weekends. There definitely is the opportunity should the new owner want to expand the current schedule by hours or days and replace the hygienist that has recently retired. The owner is currently seeking a replacement hygienist.
The focus of this practice is on the delivery of consistent quality patient care, primarily in the areas of prevention and restorative dentistry. There are approximately 38+ monthly outbound referrals involving endo, perio, prostho, OMFS, ortho and implants. This presents an excellent potential for an immediate increase in revenue should these procedures be held in house.
The owner is booked 8-10 weeks out and hygiene is 8+ weeks in advance. Over the last 12 months, there have been 1,302 active patients who have received care, including 6-7 new patients per month gained through “word of mouth” referrals. The new owner could capitalize on social media and marketing to grow the practice even more thereby again immediately increasing the revenue. 60% of patients have insurance and there are no social services patients. The patients are a mix of ages and cultural backgrounds, with the majority living or working in the area.
Note that this is a non-assignment practice, so the accounts receivable is not significant. Given the efficiency of this office, it boasts an impressive cash earnings of 54%! Unique and not often seen in a general practice!
Dedicated and loyal staff members are devoted to the office and to the patients. Each has a written employment contract with the practice.
The principal owns the strata and will be amenable to negotiating a long-term lease at fair market rent should the potential purchaser not be able to secure the full “package” at the moment.
Our client is flexible and open to supporting a transition to ensure the successful transfer of the goodwill and the staff to the new owner.
Purchasing a practice of this caliber is a rare opportunity – excellent location, strong patient foundation, dedicated staff, outstanding efficiency, waterfront access, extraordinary office design and a real estate equity investment.
Highlights of this practice include:
- Chic and dynamic neighbourhood with a strong mix of residential, retail and commercial economic activity
- High-density/growth area
- 5 days, no evenings/weekends
- Hygiene/recall program ~32% gross revenue
- 3 ops, 4th op wired and plumbed
- 2 primary ops enjoy abundant light and stunning views
- 2,046 sq/ft: Staff room, private office, 2 consultation rooms, business & manager’s offices, steri, lab, reception and waiting area with a view
- Room to extend hours/days
- Approximately 38+ procedures referred out each month
- All staff on written agreements
- Digital x-ray and Pan
- Charts 50/50 – paper/digital
- Non-assignment, no SSP
- Highly efficient with 54% cash earnings
- Monthly production averages $140+K
- Excellent lease with renewals, no demolition clause
- Real estate available for purchase
- Additional Purchaser/Advisor Information:
- A Practice Profile will be provided within 48 hours of your request
- A Confidential Open (by appointment only)
- The Appraisals will be distributed to qualified buyers
- The Offer Request Form must be submitted 48 hours prior to the Offer deadline.
- 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