EAST HILLS, N.Y., Sept. 26, 2011 /PRNewswire/ -- Endless opportunities for a veterinarian's office! The practice, currently thriving, has many opportunities to continue to grow and improve. There is an opportunity to raise prices, reduce labor expenses, advertise unique services and perform outreach to a changing community. Our client is ready to downsize and no longer wants to commute over three hours to the office each day.
The practice was established in 1991. It occupies 3,300 sq ft, pays $49,000 in rent per year and includes 4 parking spaces. There is an opportunity to negotiate the rent or purchase the mixed-use facility.
Sales in 2010 were $1,216,975. Sales continue to grow year over year, including 2011, and are higher by 20% since 2008. Discretionary cash flow has averaged 19% of sales or $212,000 over the past three years. Discretionary cash flow is calculated by adding back expenses that are not passed on to a new owner.
The Ideal Buyer
The ideal buyer can be 1) a veterinarian looking to acquire a practice or 2) a veterinarian looking to acquire growth by adding an additional office.
The Asking Price
For the asking price of $692,000 the ideal buyer receives 1) inventory, 2) assets, 3) the ability of those assets to produce cashflow and 4) goodwill. The inventory is valued at $48,000. The assets are valued at $193,000. And, goodwill is valued at $451,000. Additionally, the seller will finance 65% of the purchase price.
Communications & Inquires
All communications, inquiries and requests for information should be addressed to Gary Kane. Mr. Kane can be reached by phone at 855-chimera (244-6372) extension 801 or by email at [email protected].
About Chimera Strategies
Chimera Strategies is a full service business brokerage firm offering our clients' access to the best people, partners and processes for valuing, promoting and identifying qualified buyers in our industry. Our mission is to close a transaction as quickly as possible and at a price and terms that meet or exceed our client's expectations. Additional information about Chimera Strategies can be obtained by visiting our website at www.chimerastrategies.com.
SOURCE Chimera Strategies