West Orillia Optometry Practice - REF. #1606
$850,000 CAD
Appraised price - practice: $871,519
Asking price - Real Estate: $850,000
REF#. : #1606
Available: 16/05/2024
Province: Ontario
Type: Optometry Practice
Region: Orillia
SQFT: 1,591 sq. ft.
Gross Rev: $1,047,225
Owner EBITDA: $504,016
Status: NEW
Welcome to our exclusive presentation of this profitable and long-established optometry practice in the beautiful City of Orillia. The Practice has a long history of reliable revenue and cash-flow. Originally established in 1992 as an optical store, the practice moved into its current, fully renovated premise in 2006 with an adjacent optometry practice. The current Owner worked in the adjacent practice and eventually purchased the optical store in 2015 and integrated the store and practice into a single business.
Orillia is in the heart of the Huronia cottage country, and the practice draws patients form a wide geographic area. Patients include residents of smaller communities surrounding Orillia and seasonal residents from the GTA. The practice is located in a major shopping centre just west of Highway 11 in a fast-growing neighbourhood of new middle-class, single-family homes. The area is a new major shopping district for Orillia with a Walmart and a Costco located close-by.
This is a full scope practice with a heavy emphasis on dispensing. Dispensing currently accounts for approximately 82% of Total Gross Revenue using the Retail model. The Sell-through rate is estimated at 60% of comprehensive exams.
You will benefit from a comfortable, modern facility in a rapidly growing neighbourhood. The practice is dominated by the frame gallery which occupies a majority of the practice’s floor space. The practice’s examination lane and a doctor’s office are located to the left of the dispensary. To the right is a pretesting room, lab, staff room and bathroom. The practice is fully wheelchair accessible.
The Owner is looking to retire to the GTA but is willing to stay on as an Associate during a transitional period. The Associate previously owned his own practice in a nearby community and is available to remain with the practice following a sale.
Business Highlights
· Dispensing accounts for approximately 82% of Gross Revenues on Retail Model
· 2023 EBITDA was 48.1% of Gross Revenue
· Strong facility lease
· Opportunity to increase Revenue by adding weekend hours
· Private and confidential practice viewings will begin on May 31, 2024.
· Well established practice.
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.
