09 Mar High Performing Turnkey Optometry Practice for Sale
Location: Albuquerque & Central New Mexico, New Mexico
Industry: Health & Wellness, Optometry Practice
Listing ID: N214
Serving the greater Albuquerque metropolitan area, this family-oriented optometry practice has established its position as a market leader and proven its resilience. An executive or optometrist owner will step into a business that outperforms industry standards and has everything in place to accelerate their career.
With a focus on providing quality eyecare, this optometry practice delivers a sophisticated level of service, including treatments for dry eye, age related macular degeneration, and other eyecare conditions related to diabetes, prolonged screen time, and age-specific needs. Exclusive relationships with top eyewear brands provide customers with an array of choices for quality frames, lenses, and contacts.
Dominating its services areas, the business operates out of an attractive, custom-built 4-lane facility fully equipped with the complete complement of advanced optometric tech. A highly-trained staff is in place. Internal systems, ongoing staff customer service and sales training, and a focus on business efficiency drive sales and profitability. A second, non-owner Doctor of Optometry is now in place and seeing patients, making this a prime opportunity for optometrist or executive owner.
• 2021’s numbers are on track to outperform 2020 by double digits
• Gross Revenue, Cash Flow and EBITDA (pre-tax profit) are based on the 12-month rolling income statement ending August 31, 2021.
• EBITDA assumes two doctors of optometry are working in the practice. Based on the pro forma provided by the Seller, the EBITDA for one, non-optometrist owner, the EBITDA would be around $271,000.
• 2020 Sales dipped only 1% and discretionary earnings grew 10% over 2020, despite the business being effectively closed to non-emergency exams for about two months
• Sales per Employee exceed the standard for the U.S. optometry industry
• Seller’s Discretionary Earnings outperform the industry’s benchmark
• Net revenue per patient exam has steadily climbed, allowing the practice to maximize revenue
• Serving one of Albuquerque MSA’s fastest-growing areas
• Customer database numbering over 20,000 patients
• Strong and active referral network
• Strong cost controls help maximize profitability
• Fully integrated practice management software helps drive efficiency and deliver a superior customer experience
• Revenue is a mix of approximately 50% private pay and 50% insurance pay
• Insurance reimbursement is handled internally with claims filed daily, laser focus on accuracy, and re-billing handled efficiently and effectively
• Approximately 70% of Accounts Receivables are collected within 30 days
• Over $480,000-worth of investments in optometric technology frees the next owners from having to make any major capital investments for the foreseeable future
Cash Flow: $598,682
Inventory: $55,000 (Included in Price)
Real Estate: (Not Included in Price)
Lender Pre-Qualified?: Yes
Reason For Sale:
Seller will retire.
Training & Support:
The Seller will work with the new owner to ensure a successful and smooth hand-off. Precise terms and conditions to be negotiated.
Year Established: 2004
Employees: 7 FTE, 3 PTE
Security on Lease: 8000 or as negotiated
Lease Option: Yes
Monthly Rent: 8000
Type of Location: Commercial
Square Footage: 4500
Elegantly-appointed facility with a strong street presence offering easy accessibility to all parts of Albuquerque, Rio Rancho, Placitas, Corrales, and the surrounding neighborhoods and tribal communities.
This is an ideal opportunity for a new or experienced optometrist who wants to leap frog their career. For an optometrist who already has an established business, this business can be acquired with 100% financing.
The attractive facility, courteous and knowledgeable staff, and emphasis on medical optometry have established its position as one of the area’s market leaders.
New owners will enjoy organic growth as the area continues to attract families, workers, and retirees. Demand is robust enough and the spatial amenities sufficient to merit bringing on an associate OD to service more patients and fast-track its revenue growth. Due to the area’s climate, increase in screen time, and an aging population, the demand for the business’ services will continue to grow