Listing ID: 73414
Established for more than twenty years, this Chiropractic Practice has been tastefully refurbished both inside and out, and is the embodiment of a relaxing and soothing environment. Located east of Columbus, Ohio it is the only practice in the revitalized downtown central business district. The Doctor/Owner works with all clients three days per week providing a variety of services including education, adjustments, interferential muscle stimulation, decompression, etc.
*48% of patients’ visits are maintenance
*60% of patients are cash-pay, although the practice accepts all major medical
*5 star reviews on various platforms
*Marketing consists of an attractive website & bi-annual mailers
- Asking Price: $553,000
- Cash Flow: $72,000
- Gross Revenue: $178,000
- EBITDA: N/A
- FF&E: $45,000
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:2,700
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
The building is spacious with plenty of room for expansion. The generous reception area can be renovated to incorporate two additional therapy rooms adding to the three existing exam, adjusting, and therapy rooms. There is additional office space downstairs with a separate entrance and it’s own security system which can be utilized or rented out. There are 3 bathrooms, one with a shower, and ample office and storage space. The parking lot is expansive and could be used for expanding the existing building if desired.
The owner is willing to assist the new doctor during the transition process.
Although there are a few other chiropractors in the area, this practice is established and centrally located.
The community is growing and there is room for expansion in the market.
The company has 1 employees and resides in a building with approx. square footage of 2,700 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons why people decide to sell operating businesses. Nevertheless, the true factor vs the one they tell you might be 2 totally different things. For instance, they may say "I have way too many other responsibilities" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might simply be excuses to try to hide the reality of altering demographics, increased competition, current reduction in revenues, or a variety of other reasons. This is why it is really essential that you not rely absolutely on a vendor's word, yet rather, utilize the seller's response combined with your total due diligence. This will repaint a much more practical picture of the business's present situation.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of operating businesses finance loans in order to cover items such as stock, payroll, accounts payable, and so on. Remember that in some cases this can mean that profit margins are too tight. Numerous companies fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future commitments to think about. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with vendors that have to be satisfied or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location bring in brand-new customers? Most times, companies have repeat consumers, which form the core of their everyday profits. Particular elements such as brand-new competitors sprouting up around the location, roadway building and construction, and also employee turnover can impact repeat customers and also adversely influence future incomes. One important thing to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business on a regular basis, the better the chance to construct a returning client base. A final thought is the basic area demographics. Is the business located in a densely populated city, or is it situated on the outskirts of town? Just how might the neighborhood average home earnings influence future income prospects?