Listing ID: 80410
Seller Financing Available – Private optometry practice located 25 minutes from downtown Atlanta. Practice established in 1990 and has developed a longstanding reputation in the industry and community for providing high quality eye care. Doctor currently seeing patients only three days a week. The practice currently generates revenue from both services and glasses. The 2,200 square foot facility is in a strip mall (next door to a dentist) and is under a month to month lease. The practice accepts all major insurance carriers and VSP, EyeMed and Davis Vision.
- Asking Price: $129,000
- Cash Flow: $76,000
- Gross Revenue: $279,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1990
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
The seller is willing to help with the transition and training at no cost for one month. After that time, the Seller and Buyer may enter into a consulting agreement for terms and conditions to be determined later.
The company was started in 1990, making the business 32 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons people decide to sell companies. However, the genuine reason vs the one they tell you might be 2 absolutely different things. For instance, they might say "I have a lot of various commitments" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might just be excuses to try to hide the reality of altering demographics, increased competition, recent decrease in earnings, or a variety of various other reasons. This is why it is very essential that you not depend completely on a vendor's word, however rather, use the vendor's answer combined with your total due diligence. This will repaint a more realistic image of the business's present scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous companies finance loans so as to cover things such as stock, payroll, accounts payable, etc. Remember that in some cases this can suggest that revenue margins are too tight. Lots of organisations fall under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that must be fulfilled or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in brand-new clients? Many times, companies have repeat consumers, which create the core of their daily earnings. Specific factors such as brand-new competitors sprouting up around the area, roadway building and construction, as well as staff turn over can affect repeat consumers and also negatively impact future earnings. One important point to think about is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Obviously, the more people that see the business on a regular basis, the better the chance to build a returning consumer base. A last thought is the basic location demographics. Is the business located in a largely inhabited city, or is it located on the outside border of town? Exactly how might the local average home earnings impact future revenue prospects?