Fully describe the business's activities?
This medical practice specialises in Homeopathy and is based in the medical area of a large Garden Route town. Of the procedures carried out are Bio Puncture, Homeopathy, Colon Hydro Therapy, Iridology etc. Patients preparations are processed and posted or collected by patients.
How long has the business been established?
Practice originally started in 1988. Has changed hands before but the current practitioner has owned it since 2008.
How long has the owner had the business?
How does the business operate on a daily basis?
The Owner is supported by his wife in the role of Reception and Admin.
How are the clients attracted to the business?
There are many patients who have been with the practice a long while and obtain medical preparations on a regular basis. Some patients, (especially with gastro issues) are referred by other Practitioners. There are limited Practitioners who offer these medical procedures in this region.
What Advertising/Marketing is carried out?
7000+ patients are listed on the data base that has been built up over the years.
What competition exists?
Very little competition in this region.
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
As and when required.
How could the profitability of the business be improved?
There is an opportunity to further develop Preparations and regular mailings to patients.
What is the year on year trend?
Practice has substantial year on year growth. Turnover records since March 2014 are available.
What is the total staff complement?
The team comprise the Practitioner and his wife who handles Reception and Admin.
When does the current lease end?
Lease is currently on a month by month basis. A fixed term lease will be given by the landlord.
Is there an option of renewal & what period?
Yes, subject to negotiation. This practice is situated in the main medical part of town and is easy to locate with secure parking.
What is the annual escalation %?
What are the trading hours?
Monday to Friday 08-00 to 16-30 by appointment.
Do you require a licence?
Must be registered with the HPCSA
What lease deposit and/or other surety is required?
1 Months rental
Give an overview of the premises
Situated in the medical area of this large town, and a well maintained, clean and fully occupied building, with solar heating facilities. Premises offer 3 rooms with beds, dispensary and reception with waiting room. The whole of the practice is very homely and warm. Open plan reception area with rooms leading off, including dispensary where the formulations are processed. Sufficient storage cupboard space, with high extra high quality fittings supplied by the landlord and may be utilised by the tenant. The Hydro Therapy machine has its own hot water geyser. 3 allocated parking bays.
What are the main assets of the business?
As is required in such a practice, the assets comprise beds, furniture and fittings, as well as the required diagnostic and treatment equipment and a fully equipped dispensary. Colonoscopy equipment fully functional and a fixture within the practice. Data base of over 7000 patients also an asset of value.
Are any items not included in the sale?
There are items of equipment that this practitioner will not be leaving behind, and these will be pointed out to a prospective Buyer when visiting the premises. The required equipment will be dependent upon the type of treatments that the new Practitioner will focus on. The computer software is not included.
What is their overall condition?
All assets are maintained in very good condition.
How have they been valued ?
Owners second hand market value.
Are they presently insured?
Long established practice.... since 1996. Dispenser of medical preparations on an individual patient basis. Individualised preparations are a substantial and lucrative part of the practice revenue. Limited number Homeopaths in the region. Large patient data-base on record.
No obvious weaknesses.
Additional range of treatments can be introduced. More colonoscopy treatments for referral by local medical practitioners. The large data base offers focused communications to patients. Opportunities to produce own range of preparations and establish a personal brand.
No obvious threats known of.
What is the reason for the sale?
The Practitioner will be moving back to the Cape Peninsula where his family are domiciled and where he previously practiced too. He is now near retirement age and would rather relocate sooner than later. Owner has family and interests overseas and wishes to focus on those and reduce time spent in practice. A restraint of trade for the Garden Route region will be given.
Why is this a good business?
The opportunity exists for a qualified practitioner to take this practice to an even higher level. The practice allows for increased focus on range of treatments offered. The Seller has committed that at the time of sale he shall leave enough stock to produce R100,000 of preparations for the new Owner This will be inclusive of the raw ingredients packaging and labels.
What is the price plus stock and the profit?
The price is R950,000 and the approximate monthly profit is in the region of R54,000+ per month. At the time of sale, preparations, packaging with labels etc to the value of an exit price of around R100,000 will be included in the sale which assists the Buyer considerably with cash flow. The payback period based on current revenue generated is very attractive.
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