Audiology Clinic with 56% Profit Margin
With long-existing nursing home and veteran contracts!
With long-existing nursing home and veteran contracts, this audiology clinic has had over 200+ clients in the last five years! Since the inception of the company in 1993, they have seen close to 1,000 different patients. The clinic saw a 56% profit margin in 2020, with two different offices in West Point and Fremont, Nebraska. This company provides audiology and hearing aid services for all ages including comprehensive hearing evaluations, hearing aid consultations and fittings, and special diagnostic tests. The current owner is the audiologist, providing all patient services. Alongside the owner is one full-time employee, the office manager, who handles all communication with patients, dedicates reports, troubleshoots, and recommends hearing items for patients, and works with insurance companies for claim submissions. They serve up to a 100-mile radius of West Point, with the audiologist/owner traveling a few times a week to provide services in nursing homes and to veterans.
The West Point location is a 1,000 square feet stand-alone building specifically built for a medical clinic and is owned by the owner. The office is open Monday through Friday from 9:00am-5:00pm by appointment and walk-in. The Fremont location is a single 10x12 foot office in a shared office building with the current lease is being $300/month and is by appointment only.
This audiology clinic is not tied to a physician or private practitioner, which gives the company freedom to be its own private practice and see clients as they wish. Some areas for growth include moving away from paper charting and expand on marketing as well as telehealth, nursing home, and pediatric services. At the purchase price of $475,000, a 10% down payment of $47,500 returns $89,320 in the first year after debt payments, which is a 188% return on investment.
- Revenue: $232,285
- Cash Flow: $150,572
- Year Established: 1993
- Location: West Point and Fremont, Nebraska
- Service Area: 100-mile radius of West Point
- Number of Clients: 200+ individuals of all ages, existing contracts with nursing homes and veterans
- Services: Audiological—hearing evaluations, hearing aid consultations and fittings, special diagnostic tests
- Employees: Owner + 1 FT Office Manager
- Reason for Selling: Retirement Planning
- Seller Training Period: Negotiable
This company has two locations. The main office is a 1,000 square feet stand-alone building specifically built for a medical clinic and is owned by the owner. The office is open Monday through Friday from 9:00am-5:00pm by appointment and walk-in. This space includes the following:
- Waiting room
- 4 exam rooms
- Kitchen area
- Reception area
- 2 bathrooms that are wheelchair accessible
The second location is a single 10x12 foot office in a shared office building. The current lease is $300/month. This office is open by appointment only Monday through Friday from 9:00am-5:00pm.
This company is skilled in the areas of childhood hearing loss, adult diagnostic procedures, hearing aid selection and provision, assistive listening technology, listening skills related to learning disabilities, and development of effective communication skills.
- Comprehensive hearing evaluations
- Hearing aid prescription and fitting of the full range of hearing aids, including cutting-edge digital technology
- Diagnostic tests
- Custom-fit musicians monitors and hearing protection
- Counseling and rehabilitation for patients and their families
- Assistive listening devices for telephone, television, and public areas
- Evaluation and treatment for tinnitus
- Swim molds, ear molds, and noise protectors
- Industrial hearing conservation services
- Battery sales
- List Price: $475,000
- Cash Flow
- 2020: $107,562
- 2019: $150,572
- 2018: $107,064
- Assets: $49,229
- FF&E: $49,229—Office equipment, furniture, macro view video otoscope, etc.
- Intangible: Strong client relationships and word of mouth & constant and strong contracts/relationship with nursing homes and veterans
Cash Flow Analysis
|Description of Financial Statement||P&L Statement|
|Tax Return||Tax Return||Tax Return||Notes|
|Net Income Shown on Financial Statement||$121,173||$163,472||$112,817||$79,632|
|Dues & Subscriptions||$1,800||$1,800||$1,800||$1,800|
|Seller's Cash Flow = Total Addbacks + Net Income||$107,562||$150,572||$107,064||$63,811|
|Profit Margin||56.29 %||64.82 %||54.60 %||44.09 %|
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