Practices For Sale

Ref# 4965

Status: Conditionally SOLD

Location: Ontario

Gross Revenue: $1,893,354

Appraised Value: $2,305,230

Asking Price: $2,300,000

Cash Earnings: $1,069,343

Northwestern Ontario

Owning your own building is optimal.  Having a building included in the price of the practice is extraordinary.  ROI Corporation is thrilled to present this unique opportunity to acquire a prosperous general practice and building.

Located in a border town, this area is known as the industrial capital of Northwest Ontario.  Rural practices have tremendous opportunity – more patients, more complicated dentistry, low overhead, stronger goodwill and greater prospects for growth.

Our clients own practices in another province and have decided to focus their time and attention on those. Upon purchasing this office, the current owners set out to improve the care and efficiency of the practice through technology and systems.   New equipment was added, and the practice was digitalized.

Occupying a stand-alone commercial building, the ~2,800 sq. ft. area provides optimal space for this thriving business. Two associates are responsible for ~70% of production. A third associate has recently been hired.  One of the current owners attends the office one week per month to provide dental treatments that are of interest to them. The practice could easily be converted to fully associate-driven if that is the vision of the new owner.

The current owners’ business acumen, excellent draw area and lower overhead expenses ensure the future success and longevity of this opportunity. Within a 10km radius, there are ~11,000 residents with only 3 dental practices servicing the area. Due to the limited providers, patients travel great distances for their dental care providing a vast draw area. Lower overhead expenses are enjoyed by more rural locations when compared to their urban counterparts. Lower occupancy cost, staffing and utilities expenses help this practice’s strong bottom line. The cash earnings of the office is consistently an incredible 57% of gross.

In the last 12 months, ~2,800 patients have been cared for. Per month, a steady flow of 20-25 new patients plus 19 emergencies are received. The hygiene program could be built out further with the demand of the current patient base. Hygiene is currently booked out 4-12 weeks depending on the requested time of day. A solid 80% of the patient base have dental insurance coverage.

The town and surrounding area provide no shortage of outdoor activities to help cultivate a wonderful work-life balance. Well-connected for travel, there is easy access to the US border offering even more possibilities.

Highlights of the Practice include:

  • Building included for no additional cost
  • No landlord, demolition or rent to deal with
  • 5 operatories
  • Hospital privileges available
  • Strong Google Reviews
  • Updated sterilization area
  • Fully digital practice

Additional Purchaser/Advisor Information:

  • A Practice Profile and Virtual Tour will be provided within 48 hours of your request
  • The Appraisal will be distributed to interested parties
  • Offers will be presented to our client as received
  • Due to the remote location of the practice, your offer will include a site visit condition
  • 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, COO & Sales Representative, and/or Constance Oly, Sales Representative.

 

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