THIS PRACTICE HAS SOLD! Established private practice in Philadelphia, the city of brotherly love. Located in an easy access area to public transportation, this practice caters to the city-folk and the surrounding suburbs, both of which are largely untapped markets. The price of the practice is only $50k more than the average cost of a start-up practice…but here you get over 10,000 existing patient records, qualified and trained staff, office systems in place, custom build-out, equipment, and all the other head-aches taken care of. The practice grosses $430k in revenue with the owner OD working a very light 30 hour-a-week schedule with 4 weeks vacation. Work normal full-time hours and take less vacation, and watch the revenues climb above $700k. With appointments booked out, there is tons of potential for growth.
The office has an EMR system in place with 7 computers networked throughout the office. The office sits on the first floor of a mixed commercial/residential building that is also owned by the practice owner and available for purchase with the practice. A spacious 2,400 square foot layout includes 2 fully equipped exam lanes, pre-exam area, 2 restrooms, business office, break room, optical, and a cutting/edging/finishing lab. For a city practice, it’s rare to have designated off-street parking, which this practice has, as well as on-street and public parking nearby.
The owner OD sees 15-22 patients per day with about 4,400 refractions per year, indicating that there is currently significant underbilling. A practice operating at its volume of patients should be generating well over $800k in revenue and over $300k in owner discretionary income. Luckily, this is an easy problem to solve and, once resolved, you will have significantly increased the value of your investment as well as your daily income.
The owner OD is motivated to sell with the price discounted over $50k from the appraised fair market value. The owner will support in a seamless and successful transition.
Real estate is also available for sale at a discounted price. Take advantage of this rare opportunity to own real estate in the city and secure your long-term future while earning extra income on the side!
For more information please complete our Buyer Registration Form and sign and send this Confidentiality Agreement to erikf@visionarypracticegroup.com
