Listing ID: 72436
Long established family medical practice serving a large population in Paterson, NJ. and surrounding areas. Well known area doctor is ready to retire and is looking for a caring medical practitioner to take over his fully equipped office with hundreds of active patient files and room to expand. The practice sees patients 3 days a week and has plenty of room to grow to increase weekly patients seen.
The practice has 3 exam rooms, x-ray room, doctor’s office Phlebotomy room, physical therapy room/alternate exam room, receptionist and patient waiting areas. Digital equipment includes EKG, Ultra Sound, Eco Cardiogram, and x-ray machines.
The Doctor is a general surgeon with specialties in general surgery, cardiology, general practice, geriatrics, and vascular surgery. He has an affiliation and privileges at a local hospital.
• Business Price: $230,000
• Annual Cash Flow: $142,000
• Gross Revenue: $410,000
• FF&E: $75,000
• Down Payment: Negotiable
• Established: 1993
Owner is seeking retirement and will help with a transition as needed.
- Asking Price: $230,000
- Cash Flow: $142,000
- Gross Revenue: $410,000
- EBITDA: N/A
- FF&E: $75,000
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Seller will train and support to ensure a smooth transition.
Seller is seeking retirement.
There is plenty of room for growth and expansion.
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell businesses. Nonetheless, the genuine factor and the one they tell you may be 2 entirely different things. For instance, they may claim "I have way too many various commitments" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these might simply be justifications to attempt to conceal the reality of altering demographics, increased competitors, recent decrease in incomes, or an array of various other reasons. This is why it is really important that you not depend completely on a seller's word, but instead, make use of the seller's solution along with your general due diligence. This will paint a more reasonable image of the business's present circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your offer. Lots of businesses finance loans so as to cover things like supplies, payroll, accounts payable, etc. Bear in mind that in some cases this can suggest that profit margins are too tight. Lots of organisations fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with vendors that must be fulfilled or might lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area bring in brand-new customers? Often times, operating businesses have repeat clients, which develop the core of their day-to-day earnings. Particular elements such as brand-new competition growing up around the location, roadway building and construction, as well as employee turn over can influence repeat clients and also adversely impact future incomes. One crucial point to think about is the placement of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Clearly, the more individuals that see the business often, the higher the possibility to develop a returning client base. A final idea is the general area demographics. Is the business located in a largely populated city, or is it located on the edge of town? Exactly how might the neighborhood mean home income influence future earnings prospects?