Listing ID: 78880
The practice provides general dentistry services including preventive maintenance and restorative services using state of the art equipment in a “family” setting. Dr. Hauge takes pride in catering to the needs and fears of his patients which is what led him down the path of becoming a dentist himself. Technological advances in dentistry have been utilized in this practice to enhance the patient’s experience by providing same-day indirect restorations such as CEREC, intra-oral scanning, digital x-rays and other technologies to simplify the procedures performed and to make dentistry easier and more comfortable for the patient.
- Asking Price: $399,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1999
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,775
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
Bangor Center for Dental Medicine has top of the line equipment including a Medit i500 scanner which replaces the previously utilized CEREC system. The Dentrix / Dexis equipment and software are used for managing the dental operations and QuickBooks is used for the accounting needs. Bangor Center for Dental Medicine was the first general practice in Maine to adopt the Solea 9.3 wavelength all tissue laser for a multitude of soft and hard tissue procedures with reliably no need for local anesthesia.
Bangor Center for Dental Medicine has a very strong referral network in place and collaborates with other dentistry professionals in the area. The practice currently has an updated website, in addition to their presence on FaceBook and LinkedIn. In the past they have done TV and radio commercials, and although it gave them exposure and their patients all commented on seeing/hearing the content, it didn’t provide much ROI. They are not currently participating in any direct mail campaigns nor have they put much effort into other social media platforms, but do indicate there is opportunity to do so.
Growth opportunities are limitless for someone looking to grow services including periodontal, orthodontic, invisaline, pediatric dentistry, and prosthetics.
This Business Is An Established Franchise
The venture was founded in 1999, making the business 23 years old.
The business has 6 employees and resides in a building with estimated square footage of 1,775 sq ft.
The real estate is leased by the business for $0.08 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people resolve to sell businesses. Nevertheless, the real reason and the one they tell you may be 2 completely different things. As an example, they may say "I have a lot of various responsibilities" or "I am retiring". For many sellers, these reasons stand. But also, for some, these might simply be justifications to try to hide the reality of transforming demographics, increased competitors, current reduction in incomes, or a variety of various other factors. This is why it is really vital that you not count absolutely on a vendor's word, yet instead, use the seller's answer together with your overall due diligence. This will paint an extra reasonable image of the business's existing scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your offer. Numerous operating businesses borrow money in order to cover points like inventory, payroll, accounts payable, etc. Remember that in some cases this can suggest that revenue margins are too small. Many organisations come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may additionally be future obligations to think about. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with suppliers that need to be fulfilled or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in new consumers? Many times, companies have repeat customers, which form the core of their day-to-day revenues. Specific elements such as new competitors growing up around the area, roadway building, and personnel turn over can affect repeat clients and also adversely affect future earnings. One crucial point to think about is the location of the business. Is it in a very trafficked shopping mall, or is it concealed from the highway? Undoubtedly, the more people that see the business on a regular basis, the better the possibility to develop a returning client base. A last thought is the general area demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? Exactly how might the regional mean house earnings impact future earnings prospects?