Metro Vancouver Optometry Practice - REF: MET-VAN
$640,000 CAD
Appraised price - practice: $644,518
Asking price - practice: $640,000
REF: MET-VAN
Available: 24/01/2025
Province: British Columbia
Type: Optometry Practice
Region: Greater Metro Vancouver
SQFT: 2,088 sq. ft.
Gross Rev: $729,421
Owner EBITDA: $303,915
Status: NEW
Welcome to our exclusive presentation of this profitable and long-established optometry practice in the Metro Vancouver Tri-City community. The Practice has a long history of reliable revenue and cash-flow. Originally established in 1988, the practice moved across the street to its present location in 1993. The practice is located on the main floor of a two-story professional building on a busy street running through the city. The practice is on a public bus route and there is ample parking for patients and staff.
The practice is owned by a husband and wife team who are looking to retire. The existing owners are willing to stay on as Associates if requested by the new owners.
This is a full scope practice with a heavy emphasis on clinical exams. There is an opportunity to increase Revenue and cash flow with increased focus on dispensing which currently accounts for approximately 31% of Total Gross Revenue using the Retail model. The Sell-through rate is estimated at 20% of comprehensive exams. The Owners currently consider the practice as being full and are not accepting new patients except for family members of existing patients.
You will benefit from a spacious and well maintained facility in a well established neighbourhood. The practice has a large frame gallery adjacent to the spacious Reception/Waiting Room. The facility includes 2 fully equipped exam lanes beyond the frame gallery with a third, roughed-in lane currently being used as an additional office. There is a visual fields room, a lab and a contact lens training room with pre-testing equipment located in the frame gallery. The practice has both a doctors’ and an Office Manager’s office, a staff lunch room back with a bathroom for patients and a second staff bathroom. The practice is wheelchair accessible.
Business Highlights
· Well established practice
· Dispensing accounts for approximately 31% of Gross Revenues on Retail Model
· 2023 EBITDA was 41.7% of Gross Revenue
· Facility lease has renewal option to 2033
· Opportunity to increase Revenue by adding evening hours, converting the extra office into a 3rd exam lane.
· Private and confidential practice viewings will be conducted by the Owners begin on Feb 10, 2025.
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.
