Established Wellness Centre | Lower North Shore, Sydney (All staff remaining)
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About this business for saleEstablished Wellness Centre | Lower North Shore, Sydney (All staff remaining)
Owner is a qualified osteopath and has bought this practice into existence a few years ago with the transition of her pts from over the last 17 yrs into this North Shore location. With 3x osteopaths, 3 Chinese traditional medicine and herbalists, 2 massage therapists and 2 reception staff working there, this practice is renown for women’s health acupuncture for pregnancy and IVF support.
Currently all of the 4x Tx rms are used but not maximized so still opportunities to add practitioners or to increase the time of the current practitioners on a Sat and a Mon + Wed to further grow this booming practice.
Whilst the clinic is only 3 years old, the database is effectively 14 years old. Pt demographics are a mix of acute and chronic pain patients, sports injuries, IVF and pregnancy patients. There is year-on-year growth at this quality practice which has purposefully been created as a business that would one day be sold as a business as opposed to a job for a solo practitioner.
All systems and processes are set up and in place. The business could be owned and operated by a non-practicing clinical however, there is still scope within the current opening hours for the buyer to add value.
The fit-out is all top quality & was new just 4 yrs ago.
The floor space is 78 metres squared with rent being only $2500 per month. or $30K pa.
Included in this rent is complimentary use of the on-site gym for all of the staff and consultants at the practice.
Because the patients have to be buzzed in by the onsite reception downstairs, it is a very safe place for people to work.
The initial costs to fit out the practice included double glazing of the windows and additional insulation of the walls and ceilings to make the treatment rooms a quiet and relaxing space. All the hard work is done, the owner will remain long term. Other contractors have established pt bases so will remain after settlement too if required. The sale price for this practice is in recognition of the goodwill remaining intact with no changes visible to the public as all practitioners will remain working there under the new manager. With 2000 active pts in the data base, year-on-year growth, premium location in a well-regarded suburb, this owner charges her patients more than other practitioners in the same field as a reflection of the quality provided and the high socio-economic pt demographics.
The new owner
If the buyer is an osteo that is wanting to practice within the business; this would be an ideal solution! Alternatively, if the new owner wanted to play a role in the practice it could be that of front office/practice manager. Knowledge of Xero would be advantageous. If the buyer chooses to keep the 2x job-share reception in place and leave all as it is, that’s fine too.
The owner wants to remain practicing at this location doing 2 days a week for the next 4-5 yrs with her assistant, who can help maximize the no# of pts she can see each of these two days.
Last year's gross billings were around the $500K mark and the business is listed at $375K. The practice has no debt. YTD current owner personally generated $152,728 so the business is not solely dependent in this practitioner by any means. Her personal expenses put through the business including a cleaner, mobile, rego fees, insurance etc for past fin year totals just over $12,000 per year. Also her assistant is her expense the clinic pays currently which is $840 per week so allowing for 4 weeks holiday just over $40,000 per year. Add backs will equal $52,000 added back in to current profit figures. So asking price of $375,000 is about 3.5 times which is about right.
The lease is a 5x5 yr option and they are into the 4th yr of the lease so 1 yr on this lease and another option of 5 yrs avail.
To enquire on this business visit www.linkbusiness.com.au/NSW08197 and click on "enquire now"
For full details contact Sally Stuart on firstname.lastname@example.org or on 0437 082 045.
Note: The purchaser to make his/her own investigations and enquiries in relation to the business and not to rely upon warranty or statement made by the vendor or by anyone on his/her behalf.