Business Overview

This one doctor practice has produced $900K in revenues operating only five days per week and could easily handle another doctor because the work is there! If not for the pandemic revenues would have reached well over $1.0MM in 2020. Founded in 1994, the companion animal practice provides Preventive Health Care including Wellness Pet Exams, Vaccines, Laser Therapy, Orthopedics, Dentistry, Bloodwork, Critical Care, Pain Management, Ultrasound, Digital Radiography, Microchipping, Boarding, Daycare and more.
• 95% of Revenues are Repeat Clientele
• The hospital is a one-doctor practice. Additional staff members include a Practice Manager, three Vet Assistants, two Receptionists, and three Kennel Assistants
• Onsite Pharmacy, Lab, and Dental Lab
• After hour emergency care are referred to a local emergency clinic
• Great Facility available for purchase at fair market value
• Increase revenues by adding another Doctor, more clinic hours, adding grooming to services
Located in North-central NC, hours of operation are Monday 7AM to 8PM, Tuesday, Wednesday and, Thursday 7AM to 6 PM, Friday 7AM to 12:30PM, closed Saturday and Sunday.

Financial

  • Asking Price: $395,000
  • Cash Flow: $125,829
  • Gross Revenue: $926,814
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1994

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:N/A
  • Building Square Footage:3,200
  • Lot Size:N/A
  • Total Number of Employees:10
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

The practice is located on 0.7 acres and has excellent signage, high visibility, and ample parking. The business operates from a well-appointed approximately 3,200 square foot medical and kennel facility with 4 spacious exam rooms, as well as 1 surgical suite. The practice can accommodate boarding 42 animals through 15 indoor runs, 20 canine cages with a separate area for cats with 10 cages. The practice also has 10 outdoor exercise runs and play area.

Purpose For Selling:

The owner wishes to work less hours.

Additional Info

The company was established in 1994, making the business 28 years old.

The business has 10 employees and resides in a building with disclosed square footage of 3,200 sq ft.

Why is the Current Owner Selling The Business?

There are all sorts of reasons individuals resolve to sell operating businesses. Nonetheless, the genuine factor and the one they say to you may be 2 entirely different things. For instance, they might say "I have a lot of various commitments" or "I am retiring". For lots of sellers, these reasons are valid. However, for some, these might simply be excuses to attempt to hide the reality of altering demographics, increased competitors, recent reduction in profits, or a variety of other reasons. This is why it is very essential that you not count totally on a seller's word, but rather, utilize the seller's response along with your general due diligence. This will paint a more practical picture of the business's present circumstance.

Existing Debts and Future Obligations

If the existing business is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of businesses take out loans with the purpose of covering things such as supplies, payroll, accounts payable, so on and so forth. Remember that sometimes this can indicate that earnings margins are too small. Lots of organisations fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may likewise be future obligations to consider. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that have to be satisfied or might cause charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the location attract brand-new clients? Many times, businesses have repeat clients, which create the core of their day-to-day earnings. Specific variables such as brand-new competitors growing up around the area, road building, and also personnel turnover can affect repeat clients and also adversely impact future incomes. One essential point to take into consideration is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Certainly, the more individuals that see the business regularly, the higher the chance to construct a returning customer base. A final thought is the basic location demographics. Is the business placed in a largely populated city, or is it situated on the outskirts of town? Just how might the neighborhood typical home earnings effect future earnings potential?