Ref# 5276
Immediate Sale Required – Elliot Lake, Ontario
Real Property Available – Asking $300,000
A fantastic opportunity in northern Ontario for someone who can act quickly. Elliot Lake is a town of about 12,000, less than a 2-hour drive west of Sudbury. Due to the recent passing of the owner, this well-established and highly successful practice is being offered at a substantially discounted price from its appraised value. Grossing $1.7M annually and with cash earnings in excess of $700,000, the asking price of $1,900,000 is almost $500,000 below its appraised value. Additionally, this will be an asset sale, not a share sale, which provides the purchaser with an additional financial benefit.
The recent owner purchased the practice in 2015 and expanded it to over 3,000 active patients, with a long waiting list of patients eager to join the practice. This represents a very lucrative opportunity for even two dentists. Furthermore, the practice employs a highly successful denturist who pays for her own in-office technician and supplies.
You might think the owner worked long hours to accomplish this, but in fact, he worked only 3 days per week, and the denturist worked only one day per week. Currently, the hygienist works 4 days per week, with a second hygienist needed. Additionally, the practice closes 7 weeks per year for vacation. Such is the demand in a northern Ontario practice. The practice is fully staffed, with all staff members on written agreements, and some staff cross-trained.
The building is also for sale, with an asking price of $450,000, which is also below the market value. The dental office, consisting of 4 operatories in 1800 sq. ft, occupies the ground floor, while upstairs is a lovely 2-bedroom apartment, ready for occupancy.
This opportunity won’t wait and offers will be considered as received.
If you are seeking a successful, lucrative practice at a price well below its appraised value and are comfortable with northern Ontario, this practice is the one for you!
A complete appraisal of the practice will be provided to qualified applicants.
Additional Purchaser/Advisor Information:
- A profile of the practice will be provided to qualified applicants who have completed a ROI Corporation confidentiality agreement
- The Appraisal is being processed on an urgent basis, and will be available within 72 hours
- Offers will be presented as received
- ROI Corporation will prepare your offer on our standard form for your lawyer’s review
For more information contact Bill Alton, Sales Associate, ROI Corporation, Brokerage.