Orillia Optometry Practice - REF. #1573
$1,900,000 CAD
Appraised price - practice: $1,894,955
Asking price - practice: $1,900,000
REF#. : #1573
Available: 08/01/2024
Province: Ontario
Type: Optometry Practice
Region: Orillia
SQFT: ~3,700 sq ft main, ~1,400 sq ft lower floor
Gross Rev: $2,274,787
Owner EBITDA: $979,266
Status: SOLD
Welcome to MBC’s exclusive presentation of this remarkable optometry practice in the City of Orillia. The practice is in a mixed-use middle class neighbourhood which includes light retail, residential homes and small multi-unit rental buildings. The practice the only tenant in a stand-alone building owned by the current practice Owner. The building is also available for sale to qualified buyers. The Owner is looking to pursue other interests and is willing to stay on as an Associate for at least 5 years.
Originally established 50 years ago, the practice was purchased by the current Owner in 2001 and moved into its current, fully renovated premise in 2017. The 2017 renovation included new floors, lighting, walls, ceiling, new furnace, electrical service and computer network.
This is a full scope practice. In addition to dispensing of eyewear and contact lenses, the practice has minor specialties in myopia management, dry eye management, vision therapy and concussion management.
The practice has 2 full time Associates plus the Owner who practices 3 days a week. The practice currently operates from Monday to Friday with evening hours 3 nights a week. Dispensing currently accounts for approximately 67% of Total Gross Revenue using the Retail model. The Sell-through rate is estimated at 40% to 45%.
The Practice has a long history of reliable revenue and cash-flow. Approximately 80 to 100 new patients visit the practice each month. The Recall program is robust and managed through the practice’s management software program. Patients are encouraged to pre-book their next appointment at the end of each visit.
You will benefit from a comfortable, modern and spacious facility in a well established neighbourhood. The premise is well designed with a spacious dispensary is located next to the waiting area. The pre-testing area has its own waiting area with 3 exam lanes, a fully equipped lab, special testing room, a contact lens area, doctor’s office and file room. The basement has the vision therapy room and a staff bathroom. The practice is fully wheelchair accessible.
Business Highlights
· 80 to 100 new patients per month, on average
· Long standing practice
· Dispensing accounts for approximately 67% of Gross Revenues on Retail Model
· One owner is willing to stay on for up to 5 years.
· Opportunity to increase Revenue by adding weekend hours
· Opportunity to buy the building
· Private and confidential practice viewings will begin on January 27, 2024.
The full appraisal package is ready and will be sent to interested parties who sign a Confidentiality Agreement.
To discuss this practice in greater detail, and to book your private and confidential appointment to view this great opportunity, please contact Irv Handler at 647-286-5839 or irv@mbcbrokerage.ca.
