Listing ID: 79212
Located in a major metropolitan Florida city, this state of the art facility was established several years ago with patient care its core mission. The center offers MRI and X-Ray services with optional space for additional modalities if desired.
The Seller is exiting the business to retire. Key employees include sales/marketing and office manager, as well as medical staff, who manage the day to day operation of the business. The Sellers role is less hands on and focused toward marketing and business development. The Seller will stay in the business for a short period after closing to ensure a smooth transition and is available for extended support with a mutually acceptable agreement. They accept all major insurances, including PIP, and have strong relationships with referring physicians in the market.
2020 revenues were affected by COVID shutdowns and finished at $1,700,000 with Seller Discretionary Earnings (SDE) of $569,000. Prior year (2019) revenues were $1,842,000 with SDE of $672,000.
Price includes all assets of the business and Accounts Receivable with a book value of $1,600,000.
A full information package is available with a signed NDA. Proof of funds required.
- Asking Price: $2,550,000
- Cash Flow: $569,000
- Gross Revenue: $1,700,000
- EBITDA: N/A
- FF&E: $400,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2000
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,565
- Lot Size:N/A
- Total Number of Employees:9
- Furniture, Fixtures and Equipment:N/A
The company was founded in 2000, making the business 22 years old.
The company has 9 employees and is located in a building with approx. square footage of 2,565 sq ft.
The building is leased by the company for $4,200 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals decide to sell operating businesses. Nevertheless, the genuine reason vs the one they tell you may be 2 absolutely different things. As an example, they might state "I have way too many various commitments" or "I am retiring". For many sellers, these factors are valid. However, for some, these may just be excuses to attempt to hide the reality of transforming demographics, increased competitors, current decrease in incomes, or a range of various other factors. This is why it is very vital that you not depend completely on a seller's word, yet instead, utilize the seller's answer combined with your general due diligence. This will repaint a much more practical picture of the business's present situation.
Existing Debts and Future Obligations
If the current business is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your deal. Lots of operating businesses take out loans so as to cover things like inventory, payroll, accounts payable, etc. Remember that occasionally this can imply that revenue margins are too small. Lots of companies fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to think about. There might be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with vendors that have to be fulfilled or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area draw in brand-new customers? Many times, operating businesses have repeat consumers, which form the core of their daily profits. Specific aspects such as brand-new competition sprouting up around the area, road building, and employee turnover can influence repeat customers as well as negatively affect future revenues. One important thing to take into consideration is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business regularly, the better the possibility to construct a returning consumer base. A last idea is the basic location demographics. Is the business located in a densely inhabited city, or is it located on the outside border of town? Just how might the local mean family income effect future income prospects?