Listing ID: 83003
Business Overview
Principle Business Advisors presents this well-established hearing aid business for sale in rural New York. This business has been operating for over a decade and the owner is ready to retire. It has a diverse list of suppliers and is ready to meet all customer needs. The store specializes in medium to high-end hearing aids. It experiences no seasonality, does not require stocked inventory, and actually increased sales during COVID-19. This simple and easy to run business only requires one employee for an owner-operator. However, the store has substantial income to hire a technician and be run as an absentee-owned business. Profitability could be immediately increased with a purchase by an audiologist who could offer increased services. The ~2700 sq. ft. stand-alone facility is in a centrally located place to maximize the area of the customer base. The facility is ADA compliant, has room to expand, and a long-term lease is available to the right buyer.
Come and see the beautiful private professional setting, meet the owner, and make an offer!
For more information, please contact the listing broker, Joel Duran, at (504) 313-1038.
Financial
- Asking Price: $450,000
- Cash Flow: $193,489
- Gross Revenue: $484,855
- EBITDA: N/A
- FF&E: $40,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2007
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
The building is an attractive stand-alone location. It is well maintained and meticulously cared for by the business's current owner. The sale will include all seasonal decor.
The seller will provide two weeks of training and them be available by telephone as necessary.
Retirement
This industry comprises establishments of independent health practitioners primarily engaged in one of the following: (1) providing physical therapy services to patients who have impairments, functional limitations, disabilities, or changes in physical functions and health status resulting from injury, disease or other causes, or who require prevention, wellness or fitness services; (2) planning and administering educational, recreational, and social activities designed to help patients or individuals with disabilities regain physical or mental functioning or adapt to their disabilities; and (3) diagnosing and treating speech, language, or hearing problems. These practitioners operate private or group practices in their own offices (e.g., centers, clinics) or in the facilities of others, such as hospitals or HMO medical centers. Source: Business Reference Guide
Continuing to increase as baby boomers enter the market and the stigma of wearing hearing aids decreases.
Additional Info
The company was founded in 2007, making the business 15 years old.
The company has 1 employees and resides in a building with disclosed square footage of N/A sq ft.
The building is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals decide to sell businesses. However, the real reason and the one they tell you might be 2 entirely different things. For instance, they might claim "I have a lot of other commitments" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these may just be justifications to try to hide the reality of transforming demographics, increased competition, current reduction in revenues, or a range of various other factors. This is why it is very vital that you not count absolutely on a seller's word, but rather, make use of the seller's solution together with your general due diligence. This will repaint a more reasonable image of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of companies take out loans with the purpose of covering things like stock, payroll, accounts payable, so on and so forth. Remember that sometimes this can imply that profit margins are too small. Many companies fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that must be satisfied or might result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area attract brand-new consumers? Most times, businesses have repeat clients, which create the core of their day-to-day earnings. Certain variables such as new competition growing up around the location, road construction, and also staff turn over can impact repeat customers and also negatively influence future incomes. One vital thing to take into consideration is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Obviously, the more people that see the business regularly, the greater the chance to build a returning customer base. A final thought is the basic area demographics. Is the business located in a densely populated city, or is it situated on the edge of town? How might the regional typical household income effect future revenue potential?
