THIS PRACTICE HAS SOLD!
Take a look at this amazing two-location single owner private practice thriving in the greater Detroit area and ready for the next generation to take over. Both locations together gross over $1.4M, generating owner discretionary net income at around $300k, with much room for growth and improvements to margins. Both locations are second-generation mainstays in their respective locales with outstanding reputations that have been serving the surrounding communities for decades.
The practice converted to EHR about 10 years ago with multiple computers networked throughout the office. Some notable equipment includes a new Optos, and relatively new chairs, stands, phoropters, AR, tonometer, and more. Most equipment is relatively young compared to other practices on the market…so there is no need to worry about bringing this practice up to modern standards.
Both locations are leased on main thoroughfares in town with over 2,500 square feet of customized optometric office space. Both offices have been remodeled in the last 5 years or less. Each location has two fully equipped exam lanes with room for additional growth if needed, pre-exam room, CL room, private office(s), repair lab, reception area, restrooms and spacious optical showrooms with dispensaries.
The practice employs loyal, experienced and skilled staff with all systems in place, making this a true turn-key opportunity. Just take over and continue seeing patients to earn triple the average OD salary or implement cost savings and/or growth to increase your top and bottom lines!
If you are a single buyer, you can presume that one of the two ODs will stay on as your employee. If you are a “power couple” (i.e. married ODs), you could replace both ODs and enjoy an additional $120k in income per year or a total of $420,000 in owner discretionary net income.
With about 30,000+ patient records on file, this is a solid, low-risk high reward opportunity great for a first-time buyer, a group practice looking to expand, or private equity. Detroit has recently been recognized by Reuters as a top 10 city in the country for job growth! This is a perfect time to get in at the cusp of the city’s economic growth and revival so you can enjoy continued growth for years to come!
The owner will assist in a smooth transition, which is included in the price.
Comprehensive practice appraisal available upon request and signed confidential agreement.
For more information, including a comprehensive practice appraisal report, please complete our Buyer Registration Form and Confidentiality Agreement.
