Vet Practice in Fairfield County – Absentee Owner
278k in assets and 39% profit margin!
This animal hospital has a 39% profit margin and $278,000 in assets! With excellent reviews from their many loyal customers, this Connecticut vet practice has been well-regarded in the community since their start in 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
- 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.
- List Price: $2,150,000
- 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|
|Tax Return||Tax Return||Tax Return||Notes|
|Net Income Shown on Financial Statement||$210,982||$109,395||$60,959||$-4,370|
|Compensation to Owner||$97,200||$115,200||$157,200||$156,000|
|11% Tax on total W2 Salaries||$0||$12,672||$17,292||$17,160|
|Non-Onward Going||$15,580||$31,537||$0||$0||Employee embezzlement|
|Seller's Cash Flow = Total Addbacks + Net Income||$323,762||$329,428||$318,611||$221,680|
|Profit Margin||38.76 %||26.88 %||26.73 %||19.01 %|
- Consistent growth year-over-year!
Typical Clients and Services
- Pet owners with:
- Pocket pets
- General care
- In-house lab
Specific information regarding clients is available upon the receipt of a signed Non-Disclosure Agreement.
Total Employees: 8
- 1 FT Veterinarian
- 1 PT Veterinarian
- 1 Manager
- 2 Vet Techs
- 2 Vet Assistants
- 1 Receptionist
- Hire more vets/vet techs to assist more clients
- Stay open later during the week and on weekends
- Expand emergency care
|Document Title / Description|
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