Business Overview

The practice was founded by a Doctor who was raised in the Rust Belt, in the tri-county area of Youngstown, Ohio.

The Doctor received his Doctor of Podiatric Medicine degree from the Ohio College of Podiatric Medicines and did his residency with Forum Health of Youngstown, OH, for three years.
The Doctor also received his Bachelor of Science in Biology from the John Carroll University of Ohio and subsequently received his Masters from Youngstown State University.
Youngstown has an economically depressed demographic. There is a high prevalence of unhealthy lifestyles and the serious need for podiatrists in the area to help treat and care for the community. The Podiatry Practice opened in 2008 in Youngstown, Ohio. The Doctor has served the people of his community with sincerity, compassion, and understanding.

Through a combination of excellent, up-to-date podiatric skills, hard work, frugal but effective targeted marketing, and, especially, strong word-of-mouth endorsements, the practice has experienced steady year-over-year growth.

Growth opportunities for this practice include:
Increase the square footage of the office, adding another Doctor of Podiatry
Grow hospital and nursing home partnerships
Develop social media advertising opportunities
Offer a bright future of ongoing growth and service to the community for new ownership.

The company is for sale for $480,000.

Purchase Considerations:

$675,420 in total revenue in 2021.

The company specializes in the diagnosis and treatment of podiatric foot and ankle care.

The Company has been in operation since 2008.

The business supports and serves a large and loyal patient base that is rich with referrals, and enjoys a partnership with a local hospital that facilitates a substantial revenue stream.

The Company is located in a leased building, with 1,811 square feet that has the potential to expand and accommodate ongoing growth.

The firm saw an increase in 2021 gross revenue, due to more normalized patient scheduling since the height of the pandemic.

Patient volume is consistent throughout the year and there is not any seasonality with this business.

The new owner will be stepping into a very successful, well run and highly efficient practice with considerable growth potential.

Certain Principles of Raincatcher are registered representatives offering securities and investment banking services through Britehorn Securities, a registered broker-dealer (member FINRA/SIPC). Britehorn Securities and Raincatcher are not affiliated entities.

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Financial

  • Asking Price: $480,000
  • Cash Flow: $315,437
  • Gross Revenue: $675,420
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2008

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,811
  • Lot Size:N/A
  • Total Number of Employees:4
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

The practice is located in a modern office building in Canfield, Ohio. The office has the potential to expand within the building.

Purpose For Selling:

Relocation

Pros and Cons:

The nearest competitor is 5 miles north of the city this practice is located within.

Opportunities and Growth:

There are a wide variety of opportunities available to expand the business, including an additional focus on wound care, nursing home partnerships, assisted living partnerships, etc.

Additional Info

The venture was started in 2008, making the business 14 years old.

The company has 4 employees and resides in a building with approx. square footage of 1,811 sq ft.
The property is leased by the business for $0.00

Why is the Current Owner Selling The Business?

There are all kinds of reasons individuals choose to sell operating businesses. Nonetheless, the true factor vs the one they tell you might be 2 absolutely different things. For instance, they might state "I have a lot of other obligations" or "I am retiring". For many sellers, these reasons are valid. But, for some, these might just be reasons to try to hide the reality of changing demographics, increased competition, current reduction in revenues, or a variety of various other reasons. This is why it is very important that you not rely entirely on a seller's word, yet instead, utilize the vendor's solution together with your overall due diligence. This will repaint an extra realistic picture of the business's present situation.

Existing Debts and Future Obligations

If the current company is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of businesses finance loans with the purpose of covering points like stock, payroll, accounts payable, etc. Keep in mind that occasionally this can imply that profit margins are too tight. Many businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that must be met or may result in fines if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do operating businesses in the area attract brand-new clients? Many times, companies have repeat customers, which form the core of their day-to-day earnings. Certain variables such as new competitors sprouting up around the location, roadway building and construction, and also staff turn over can influence repeat clients as well as adversely influence future profits. One vital point to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Certainly, the more people that see the business often, the higher the chance to develop a returning client base. A last idea is the general location demographics. Is the business situated in a largely inhabited city, or is it situated on the outside border of town? Exactly how might the neighborhood median household income impact future revenue prospects?