Business Overview

Seller retiring. Well-established primary care practice located in Colorado Springs, CO. Practice has a full-time family medicine owner doctor, and two part-time pediatrician associates. The practice offers a comprehensive array of family medicine services for patients of all ages. It provides care for pediatrics, adult, and geriatric patients. It also, provides urgent care, CDL/ODT exams, MVA, and workmen’s comp cases.

This busy practice is located in a modern professional office building with 2,323 SF and has 5 exam rooms, nurses’/MA station, 2 private doctors’ offices, admin area, and waiting room for 10-12 people. Practice is ideally located near neighborhoods, shopping, major commuting routes. Excellent demographics.

2020 practice revenue was about $613K even during COVID shutdowns. It is showing strong growth in late 2020 and early 2021 is on track for $675K in gross collections.

Financial

  • Asking Price: $295,000
  • Cash Flow: $375,000
  • Gross Revenue: $675,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: $50,000
  • Inventory Included: Yes
  • Established: 1994

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,323
  • Lot Size:N/A
  • Total Number of Employees:7
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Well-established primary care practice located in Colorado Springs, CO. Practice has a full-time family medicine owner doctor, and two part-time pediatrician associates. The practice offers a comprehensive array of family medicine services for patients of all ages. It provides care for pediatrics, adult, and geriatric patients. It also, provides urgent care, CDL/ODT exams, MVA, and workmen’s comp cases. This busy practice is located in a modern professional office building with 2,323 SF and has 5 exam rooms, nurses’/MA station, 2 private doctors’ offices, admin area, and waiting room for 10-12 people. Practice is ideally located near neighborhoods, shopping, major commuting routes. Excellent demographics. 2020 practice revenue was about $613K even during COVID shutdowns. It is showing strong growth in late 2020 and early 2021 is on track for $675K in gross collections Buy this practice low/no down payment. Step in and take over this opportunity. Be captain of your own ship. Offered at $295,000. Financing Available

Is Support & Training Included:

Seller willing to help in transition

Purpose For Selling:

retirement

Established Franchise:

This Business Is An Established Franchise

Additional Info

The business was established in 1994, making the business 28 years old.
The transaction shall include inventory valued at $50,000, which is included in the requested price.

The business has 7 employees and is located in a building with estimated square footage of 2,323 sq ft.
The property is leased by the business for $3,500 per Month

Why is the Current Owner Selling The Business?

There are all types of reasons individuals decide to sell businesses. Nevertheless, the genuine factor vs the one they say to you might be 2 absolutely different things. For instance, they might state "I have way too many other obligations" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may simply be excuses to try to conceal the reality of changing demographics, increased competitors, current reduction in incomes, or an array of other reasons. This is why it is very vital that you not rely totally on a seller's word, but instead, use the vendor's answer along with your overall due diligence. This will paint a much more practical picture of the business's current situation.

Existing Debts and Future Obligations

If the current business is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many businesses take out loans in order to cover things like inventory, payroll, accounts payable, etc. Bear in mind that sometimes this can mean that profit margins are too tight. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to consider. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that should be satisfied or might result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the location attract brand-new clients? Often times, businesses have repeat clients, which develop the core of their everyday profits. Specific elements such as brand-new competition sprouting up around the location, roadway building, and also staff turnover can impact repeat clients and also adversely influence future incomes. One important thing to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Certainly, the more people that see the business often, the better the possibility to construct a returning consumer base. A last thought is the basic area demographics. Is the business situated in a largely inhabited city, or is it located on the edge of town? Exactly how might the neighborhood average household earnings influence future revenue prospects?