IF YOU HAVE BEEN WAITING FOR A LIFESTYLE PRACTICE IN RICHMOND HILL THIS IS A WONDERFUL OPPORTUNITY!!
GREAT HYGIENE! CONSERVATIVE DENTISTRY! AND PLENTY OF UPSIDE POTENTIAL!
This is a good opportunity to buy a practice that will be that perfect work/life balance: good cash flow, negligible AR, 90% of the patients have insurance, and OVER 90% are on hygiene recall compliance!!! The practice refers out approximately 80 specialty cases per year!!
This centrally located practice in a very desirable area of Richmond Hill is within a retail/residential area with street-level access. The vendor currently works only 4-4.5 days per week, and the practice is only open 1 Friday per month. The practice has seen more than 950 patients in the past 12 months and has a very stable patient base. The owner’s conservative approach to dentistry also affords any buyer the opportunity to increase the level of specialty procedures being done in the practice as well as increase the hours.
This well-located and well-laid-out practice boasts approx. 1050 sq. ft. with 3 fully equipped operatories, a private office, a sterilization area, a lab area, Pan Area, and a staff room. The current lease runs until April 2025 and there is one 5-year renewal option in place. The landlord may insert a demo clause on renewal but that would still give you approximately 7 years to continue in its current location and look for a new location. The good news is that you have exclusivity in the building. Although the landlord has indicated they have no intentions of demolishing the building we have factored in a move in year 8 of ownership which impacts the value in the buyer’s favor.
Post-sale the owner is flexible for 12-24 months and would be willing to work either full or part-time. This will allow a new owner to step in and begin to develop relationships with the patients and staff and ensure a smooth, gradual transition.
Don’t delay if you think this checks all your boxes! We anticipate a strong demand for this practice. There will be an opportunity to book an appointment to visit this practice on Sunday, July 30th, 2023. Letters of Intent will be due no later than Wednesday, August 9th @ 5 pm. Please contact email@example.com to schedule a showing today. If you have any questions don’t hesitate to contact Neil by email at firstname.lastname@example.org or Bernie at email@example.com.