High Performing Turnkey Optometry Practice for Sale

New Mexico Optometry Practice for sale in Sandoval County, NM

High Performing Turnkey Optometry Practice for Sale

Price: $1,150,000

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.

Business Highlights

• 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

Listing Details

Revenue: $1,451,284

Cash Flow: $598,682

EBITDA: $464,282

FFE: $550,637

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.

Operation

Year Established: 2004

Employees: 7 FTE, 3 PTE

Managers: 1

Location

Security on Lease: 8000 or as negotiated

Lease Option: Yes

Monthly Rent: 8000

Type of Location: Commercial

Square Footage: 4500

Relocatable?: No

Facilities Information:

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.

Summary

Owner Qualifications:

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.

Competition:

The attractive facility, courteous and knowledgeable staff, and emphasis on medical optometry have established its position as one of the area’s market leaders.

Potential Growth:

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

New Mexico Optometry Practice for sale in Sandoval County, NM

Michael Greene

info@samgoldenberg.com
505-820-0163
Address:
126 E. De Vargas Street, Santa Fe NM 87501

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