Saturday, June 24, 2017

Established Optometry Practice and Vision Care Center
(Healthcare/Medical, Optical Practices)

Central Ohio - Ohio, Clark

Seller Financing: No
Lender Pre-Qualified:
Listing ID: 82267
Office ID:
Status: Active

Listing Details

Listed Price: $179,900
Down Payment:
Total Sales: $278,075
SDE: $92,855
EBIT:
EBITDA:
FFE: Included?
Real Estate: Included?
Inventory: $50,000 Included? Yes
A/R: Included?
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Contact Information
Frank Nunziata
Jim Tharp Realty
Columbus 43235
Cell: 614 325-6206
Fax: 614 431-6450
Office: 740 965-1981
Email: rhifan@yahoo.com
www.jimtharprealty.com
Send Email To Agent
Reason for Sale:
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Owner Retiring.
Training:
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Seller to provide training to insure a smooth transition to a new owner.
Financing Terms:
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No Seller financing offered.

Operations

Year Established: 1981
Last Acquired: 1981
Form of Ownership: Corporation
Home Based: No
Relocatable: No
Type of Location: Stand-alone
Absentee Owner: No
Online:
Employees: Full Time: 1 / Part Time: 3
Managers: 1
Hours: Mon-Friday 9-5:30pm Thurs until 6:30pm, Closed Sat and Sunday.
Owner Hours:
Non-Owner Payroll:
Franchise Info: Independent not a franchise.

Location

Lease Expire: 1/1/2020
Option: Seller owns Building and will negotiate a lease with new Buyer.
Lease Terms: Present Total Rent $1,711 per month, $20,535 Annual.
Lease Security: $3,000
Monthly Rent: $1,711
Square Footage: 2100
Facilities:
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Standalone building approximately 2,100 sq ft. 3 Exam Rooms, Dispensary, Office, Sales Area. Total Rent only $$1,711 per month, $20,535 Annual.

Summary

Business Description:
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This long established practice (35 Years) is the sole Optometry practice and Vision Center in this Central Ohio town. The business is located in a standalone building in the center of town. The practice is well run, long established and has a solid loyal client base.

The practice is well-equipped and features 3 Exam Rooms, a Dispensary, Office, and a sales area which carries a wide assortment of stylish, well-known brands of frames and sunglasses.

The practice has one full time office manager (Licensed Optician) and one part time Sales person one of the owners is an Optician and the other is a Licensed Optometrist.

The Vision Center is open only 5 days per week (Mon-Fri) with the Retiring Optometrist currently seeing patients Only 3 days per week. Due to the lack of any local competition, it has a steady patient base which is reflected in a stable stream of revenue and income. Revenue can be increased with an Optometrist who can be available to see patients more than the current 3 days per week additionally opening on Saturday can further increase revenue.

The practice presently uses Office Mate practice management software and starting in 2016 Eyefinity for EHR as well as utilizing VSP.

Financial Basics:

Asking Price of $179,900
INCLUDES Frame Inventory Est: $50,000. Est as of 4/1/2016

Active Patients (Defined as receiving Eye Exams):
2015: 1,095, 2014: 1,044, 2013: 1,054

Revenue Breakdown:
2015: Total Revenue: $278,075
Retail: $205,548
Dr. Fees: $72,527

2015: Cash Flow (Profit) As an Optometrist: $92,855

This is a great opportunity for an associate OD to own their first practice or an existing OD/owner to add an additional location.
Historical Summary:
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Established in 1981 very consistent sales and profit year after year.
Owner Qualifications:
Competition:
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Only Optometry practice and Vision Center in this Central Ohio town.
Potential Growth:
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Revenue can be increased with an Optometrist who can be available to see patients more than the current 3 days per week additionally opening on Saturday can further increase revenue.

 

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