Own a thriving all-cash acupuncture practice in Florida

• Home to 35 miles of the best beaches in America, St. Petersburg (pop. 260,000) is known for its beautiful clear waters and white fine sandy beaches. In fact, three beaches in St. Petersburg made it to the top of the TripAdvisor’s Best U.S. Beaches list.
• Nicknamed “The Sunshine City,” St. Pete holds the title of “most consecutive days with sunshine” at 768 days.
• While you might think living oceanside in this vibrant city would be expensive, housing expenses here are actually 29% lower than the national average and 7% lower than the Florida average.
• St. Petersburg also has exceptional schools, arts, nightlife, restaurants, and public safety.
• Smaller than neighboring Tampa (whose municipal area is over 3 million people, all accessible to the clinic), St. Petersburg provides residents with a good mixture of urban and suburban living.
• Some of the many benefits of living in Florida also include zero state income taxes, and a wider scope of practice for acupuncturists than in any other state.
• The clinic is located at one of the highest points in St. Pete, with easy access to all areas of the city.
• The 1,450 square foot office was built out to be a medical space in 2020. It includes a spacious reception/waiting area, 7 treatment rooms (with 6 adjustable tables and 1 recliner), a lounge/communal treatment area with 4 recliners, 2 large bathrooms, and a staff room with storage, a small refrigerator, and the day’s schedule on a white board.
• The space is ADA-compliant, with a ramp, two entrances, and plenty of parking.

• Achieve Acupuncture & Integrative Medicine is a non-specialty practice, seeing everything from subclinical and acute orthopedic conditions to chronic issues that have not responded to other medical interventions.
• Current specialties include the treatment of pain, women's health issues, cancer, autoimmune diseases, anxiety and stress, among other conditions.
• Over 5,000 treatments have been given since the clinic started just a few years ago. In that time, the patient population has spanned from children to great grandparents and everyone in between. That said, the great majority of patients are 50 and older.
• The current owner is seeing 40-50 patients per week, and reports that she often sees 70-80 per week.
• Most patients are on pre-paid treatment plans and continue to come in for maintenance on a consistent basis.
• All patients pay in full out of pocket – no insurance billing!
• Most patients are from communities within 10 miles of the office. Most patients are referred by other practitioners and word-of-mouth, while some come through the practice’s online presence.
• The current owner is happy to provide past calendars to prove consistent patient volume. 

• The current owner has been quite uncomplicated in the methods she uses to treat patients, primarily employing Zang-Fu and channel theory diagnosis and treatment methodologies.
• Given Florida’s wide scope of practice, she also uses Ozone Therapy, Matt Callison’s motor points, and dry needling (all of which may be easily taught to a new owner).
• A small number of patients are given herbal medicines and supplements.

The following income and expense summaries are derived from an average of income and adjusted* expenses from 2021-2022. Note that the practice opened in the Spring of 2020, and the current owner has office hours four days per week.

Income

Average gross yearly revenue (two years): $314,793 ($26,233/month)

Expenses

Average adjusted* expenses: $169,435 yearly ($14,120/month)

*Adjusted expenses are the net expenses that a new owner would have to take on in order to run the business at the same level of revenue as the current owner

Net Profit

Average $145,358 per year ($12,113/month)

• The price is based on a conservative professional valuation of $165,858 with an average yearly gross of $314,793 for the past two years.
• The owner’s motivation to sell in a timely fashion has allowed her to factor in a discount off the valued price for potential attrition and start-up costs on change of ownership. She expects the right person will retain her patients and transition smoothly, making this a great opportunity for the buyer.
• The purchase will be structured as an asset purchase agreement and may be drawn up between buyer and seller (preferred) or by attorneys, at the discretion and by agreement of both parties.
• Approval of the buyer is subject to a credit check, and loans from medical practice brokers, banks, or the Small Business Administration (SBA) may be available to finance the transaction depending on the buyer’s creditworthiness.
• The seller may be willing to hold a loan for the right buyer.
• Upon purchase, the new owner will receive all patient records and equipment in addition to any supplement inventory.
• The current owner will also transfer to the new owner all clinic-related intellectual property, including the clinic phone number, website, social media accounts (Facebook, Instagram, TikTok, and YouTube channel), as well as the Unified Practice EHR, scheduling, and charting system, MailChimp mass email system full of patient emails, and clinic-related financials..
• The clinic currently employs 3 part-time workers: one receptionist/office assistant who answers phones, manages scheduling, prints superbills, etc., and two medical assistants who help with many aspects of patient management. All are W-2 employees, all are cross-trained on one-another’s responsibilities, and all may be willing to stay on with a new owner or help in the transition by mutual agreement.
• The landlord is willing to transfer the lease and the current owner will facilitate interaction with the landlord in order to secure favorable lease terms.
• The current owner’s goal is to surrender the practice by the Summer of 2023. She would be willing to stay on for a limited time to train a new owner in her techniques and to assist in the transition, if so desired by the new owner, at no additional cost.

While the current practice nets a healthy return, a motivated buyer could significantly increase their income upon acquisition through a number of simple changes.

• Work more hours. The current owner sees patients only 15-20 hours per week, leaving plenty of room to work more hours in the clinic, which would obviously increase revenue.
• Add additional practitioners. In addition to or in lieu of working more hours, the practice could support at least one more provider during the times when the office is unoccupied.
• Consolidate employees. A motivated new owner could reduce costs by having only one medical assistant.
• Accept insurance. The current practice is proud to be a low-maintenance, all-cash clinic. However, a new owner could certainly attract a wider variety of patients by accepting and billing medical insurance.
• Do more marketing. There are file cabinets and databases full of patient information that could be used for marketing directly to current and former patients, but the clinic has been busy enough that these resources have rarely been leveraged. Doing any kind of additional marketing would create more opportunities for an increase in new patients and a return of pre-existing patients.
• Improve online presence. Blogging, upgrading the website, paid online marketing, and more social media all hold great potential to improve awareness of the clinic in order to generate more revenue.
• Sell more supplements and add more modalities. A small number of patients currently take a limited number of herbal medicines. Giving a greater percentage of patients the option of herbs and supplements offers another opportunity for increased revenue, as does the addition of microneedling and/or IV therapies.