THIS PRACTICE IS OFF THE MARKET!
Take a look at this incredible high gross, high net private optometry practice for sale in Modesto, California, which includes the option to buy real estate along with the practice. With 2022 gross revenues at $920,000 and owner’s discretionary net income at $380,000, you will easily triple your income as the owner of this practice versus working as an employed OD. The year-to-date 2023 P&L is trending towards $950,000 in gross revenues, which would be the best year on record.
These aforementioned historic financials are based on a 4-day clinical work week with only about 30 OD hours worked per week and 3-consecutive-day weekends. An ambitious buyer could achieve immediate growth by increasing OD hours and/or adding one more clinical workday to the weekly schedule resulting in a standard full-time (40 hour) work schedule. The practice is currently booking out 3+ weeks, so the demand exists to open up the schedule. Increasing OD hours to 40 hours per week would add approximately $200,000+ more in revenue and over $80,000 to the existing discretionary net income. In other words, as the new owner, you would make about $460,000 or more per year working full-time!
Nestled in the heart of the Central Valley, Modesto is known for its family friendly atmosphere, diversity and melting pot culture, excellent schools, numerous parks (including Yosemite) and recreational activities. The proximity to San Francisco without the high cost of living make this a hotspot for recent movers, commuters, and entrepreneurs alike.
The office operates from a custom designed optometric facility that was remodeled not too long ago. The office is spacious with over 2,400 square feet and a layout that includes: 2 fully equipped exam lanes; open-concept optical show room with custom displays combined with the front desk and reception area; pre-testing room; private doctor’s office, restrooms, lab and break room. The practice converted to EMR years ago with computers networked throughout the office. The real estate is available for purchase at the buyer’s option, which is rare and beneficial to secure longevity at the existing location and acquire another asset that will appreciate in value. You will likely get approved for financing to buy the real estate if you are approved for financing to buy the practice!
The practice has a superb online presence with plenty of 5-star patient reviews. All systems are in place, making this a true “turnkey” opportunity. Just take over seeing patients for a short work week with 3-day weekends to earn around $380,000 annually. Or work a normal full-time schedule and make around $460,000 per year as the new owner of this practice. With appointments booked out 3+ weeks, over 25,000 patient records on file, and a robust local economy with a growing population…there is no doubt this practice will continue to succeed long into the future.
This is a once-in-a-lifetime opportunity to buy a successful turn-key private optometry practice, with the option to also buy the real estate, in an affordable and desirable area to live and work in California. This opportunity is suitable for a first-time OD buyer, an existing practice owner seeking expansion, an institutional buyer, or a private equity group. Enjoy professional and clinical autonomy, control of your own schedule, and financial freedom as the new owner of this practice. Inquire now as this one isn’t expected to stay on the market for long.
The seller OD will assist in a smooth transition, which is included in the price.
For more information, including a comprehensive practice appraisal report, please complete our Buyer Registration Form and Confidentiality Agreement.
