Opportunities
Vet Practice in Fairfield County – Absentee Owned
Sold
With a 39% profit margin in 2020!
Specifications
With a 39% profit margin in 2020, this absentee owned vet practice in Connecticut has been well-regarded in the community since 2015! Located in Fairfield County, the practice is an AAHA accredited clinic that serves small animal clients in their family-like atmosphere. The facility has two exam rooms, a reception area, prep area, and over $278,000 in assets to ensure the best possible care for their four-legged friends. The growing client base has contributed to the year-over-year expansion of this business, but the current staff is capable of accepting new clients without sacrificing high-quality care. The team currently consists of one part-time and one full-time veterinarian as well as two techs and two assistants. The absentee owner currently operates in an oversight capacity, making this an excellent opportunity to acquire a successful practice that is self-managed.
The 2,500 square foot space features two exam rooms, prep area, in-house lab, radiology, and kennel area. There is room to add additional veterinarians to the staff, increasing revenue, solidifying a wider client base, as well as it being an opportunity to extend operating hours, if desired. There are no hospital services on-site, but this clinic has partnered with local animal hospitals for emergency or complicated care cases. Growth could be found in expanding hours to accommodate evening clients or emergency services that do not rise to the level of hospital care.
Currently operating in an oversight capacity, the owner is not responsible for billable hours at this location. With a full-time manager in place, this practice is well-positioned to continue operations.
Some highlights of this business:
- Absentee ownership
- 39% profit margin
- Partnership with local animal hospitals
- An AAHA accredited clinic
2,500 sq. ft. with exam rooms, prep area, in-house lab, radiology, and kennel area
Business Highlights
- Revenue: $1,253,022
- Cash Flow: $485,643
- Year Established: 2015
- Location: Fairfield County, CT
- Client Base: Dogs, cats, hamsters and other small animals
- Services: Complete wellness exams, in house blood & urine services, dentistry, digital radiology, surgery, medications and small retail
- Lease: 2,500 sq. ft. at $5,000/ month: 2 exam rooms, radiology, lab, prep area, retail area, office, reception
- Reason for Selling: Divestment
- Employees: 8: 2 Vets, 1 Manager, 2 Vet Techs, 2 Vet Assistants, 1 Receptionist
- Hours: M-F: 8am-6pm, Sat: 8am-2pm
- Seller Training Period: 1 year
- Growth Opportunities: Hire more vets/vet techs to assist more clients, stay open later during the week and on weekends, expand emergency care
- Current Owner’s Responsibilities: Oversight – Not responsible for billable hours. Only visits once per month.
Financial Highlights
- List Price: $2,125,000
- Gross Sales:
- 2020 Annualized: $1,253,022
- 2019: $1,283,242
- Cash Flow:
- 2020 Annualized: $485,643
- 2019: $374,081
- Assets Included in Purchase*
- Equipment: $268,000: IDEXX computer, CR system, kennels, furniture, fixtures, digital radiology, laser
- Inventory: $10,000: Food, retail sales, medicine, supplies
*amounts may vary
Cash Flow Analysis
| Description of Financial Statement | P&L Statement Jan-Aug | Tax Return | Tax Return | Tax Return | Notes |
| 2020 | 2019 | 2018 | 2017 | ||
| GROSS SALES | $835,348 | $1,225,387 | $1,192,169 | $1,166,253 | |
| Annualized | $1,253,022 | ||||
| Net Income Shown on Financial Statement | $210,982 | $109,395 | $60,959 | $-4,370 | |
| ADDBACKS | |||||
| Compensation to Owner | $97,200 | $115,200 | $157,200 | $156,000 | |
| 11% Tax on total W2 Salaries | $0 | $12,672 | $17,292 | $17,160 | |
| Depreciation | $0 | $8,906 | $39,833 | $10,184 | |
| Interest | $0 | $17,896 | $19,255 | $18,634 | |
| Amortization | $0 | $24,072 | $24,072 | $24,072 | |
| Consulting Fee | $0 | $9,750 | $0 | $0 | |
| Non-Onward Going | $15,580 | $31,537 | $0 | $0 | Employee embezzlement |
| TOTAL ADDBACKS | $112,780 | $220,033 | $257,652 | $226,050 | |
| Seller's Cash Flow = Total Addbacks + Net Income | $323,762 | $329,428 | $318,611 | $221,680 | |
| Annualized | |||||
| Profit Margin | 38.76 % | 26.88 % | 26.73 % | 19.01 % |
- Consistent growth year-over-year!
Typical Clients and Services
Typical Clients:
- Pet owners with:
- Dogs
- Cats
- Pocket pets
Services:
- General care
- Evaluations
- In-house lab
- Dentistry
- Radiology
- Surgery
- Pharmacy
- Retail
Specific information regarding clients is available upon the receipt of a signed Non-Disclosure Agreement.
Employees
Total Employees: 8
- 1 FT Veterinarian
- 1 PT Veterinarian
- 1 Manager
- 2 Vet Techs
- 2 Vet Assistants
- 1 Receptionist
Growth Opportunities
- Hire more vets/vet techs to assist more clients
- Stay open later during the week and on weekends
- Expand emergency care
Print, sign and send to:
210 N 78th St. 2nd FloorOmaha, NE 68114
Or fax to:
f 402.939.0857