Antioch Family Chiropractic
Unique opportunity to own a lucrative chiropractic practice near Chicago & Milwaukee
Step into this rare, once-in-a-lifetime, turn-key opportunity to run the practice of your dreams. Call or email us today, come by and spend some time with us, and be thriving in a few short months!
Antioch Family Chiropractic (AFC), currently the chiropractic practice of Joan Johnson, is located equidistant between Milwaukee and Chicago near the shore of Lake Michigan. With an active and health-conscious population and consistent return business, the opportunity to have an abundant practice drawing from two major metropolitan areas is available from the moment you step in.
Imagine living where city dwellers come to relax, while making $250,000+ per year, with abundant time off every week and up to three weeks of vacation. No marketing necessary—the reputation of this practice keeps a steady flow of new patients streaming in. Nearly 25 years in the area has earned this practice consistent patient flow and the opportunity to build on a well-established business.
Add more hours, hire an associate, and/or sell supplements, and you have the chance to add even more success to an already prosperous practice.
Whether you are a practitioner who is just starting out, or an established clinician with some years under your belt, AFC offers you the chance to hit the ground running. Step into this rare, once-in-a-lifetime, turn-key opportunity to run the practice of your dreams in a small town with all the amenities of the cities to the north and south. Call or email us today, come by and spend some time with us, and be thriving in a few short weeks.
Learn much more below.
- The Setting
- Patient Demographics
- Modalities Utilized
- Opportunities for Growth
- Office Photos
- The village of Antioch is well-located near Lake Michigan between Chicago an hour to the south, and Milwaukee an hour north.
- With approximately fifteen thousand residents, Antioch is known for its exceptional public schools, low crime rate, and access to amenities.
- As the northern terminus of Metra’s commuter rail line direct to Chicago, public transportation is easy and abundant, and four major highways in and around town attract patients from the greater metropolitan areas of both Milwaukee and Chicago.
- The 1,500 square foot clinic sits just off Main Street near popular community shopping areas.
- It consists of a waiting/reception area; a practitioner’s office with an adjusting table; two additional treatment rooms; two massage rooms; a break room with a refrigerator, microwave, and toaster; and a bathroom.
- A basement in the building is currently used for laundry and storage, and the clinic has an abundance of free parking.
- The space is modern and tastefully decorated, and the clinic maintains a close relationship with nearby health providers and the local community, from which it receives most of its referrals.
- The current owner of the practice also owns the well-appointed and renovated building (which she would like to sell as part of the practice sale, if possible).
- AFC is a non-specialty practice, where we see everything from subclinical and acute orthopedic conditions to chronic issues that have not responded to other medical interventions.
- Our patient population spans from children to great grandparents, and everyone in between.
- We average 80-125 patients per week and have close to 6,000 active patient files., both for chiropractic and massage.
- At least 70% of our patients continue to come in for maintenance on a consistent basis.
- Approximately 30% of patients pay cash and 70% have insurance, worker’s compensation, or personal injury claims.
- Most of our patients are from communities within 20 miles of our office.
- A majority of our patients are referred by word-of-mouth: friends, family members, allied health professionals, and insurance companies.
- Our web presence draws new patients as well.
- The current owner is happy to provide years of past calendars to prove consistent patient volume.
- While trained in standard chiropractic techniques, we use a diversified technique that includes roller tables, electric stimulation, Flexion-Distraction, as well as some acupuncture.
- Our two massage therapists do Swedish, sports massage, cupping, lymphatic drainage, and hot stone therapies.
- Many patients are also given supplements to aid in their health goals, though supplements and products have not been a huge emphasis in our practice.
The following income and expense summaries are derived from an average of income and adjusted expenses from YE2015-2017. Note that Dr. Johnson works about 36 hours per week and takes up to 3 weeks off per year.
- Average gross yearly revenue (3 years): $254,700+ ($21,000+/mo.
- Average adjusted expenses*: ~$153,500 yearly ($12,799/mo)
*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.
- Average $101,000+/year ($12,215/month) – About 40% of revenue is profit after expenses.
- $149,950 OBO. Our price is based on a conservative professional valuation of more than $160,000, with an average yearly gross of over $250,000 for the past several years.
- Our motivation to sell in a timely fashion has allowed us to generously factor in a discount relative to our valuation to account for potential attrition and start-up costs on change of ownership. We expect the right person will retain our 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.
- Upon purchase, the new owner will receive all patient records and office furniture and equipment.
- The current owner will also transfer to the new owner all clinic-related intellectual property, including the clinic phone number, website, Lytec billing and electronic medical records software, and clinic-related financials.
- Current employees include an amazing office manager and two massage therapists (all W-2 employees). All have worked at the clinic for years and are fantastic assets that may be willing to stay on with the new owner by mutual agreement.
- The current owner of the business also owns the building and is motivated to sell it together with the practice.
- The current owner’s goal is to surrender the practice by the spring of 2019. She would be willing to stay on for a limited time 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. We are barely keeping up with our current demand from new patients requesting appointments, almost all of whom find out about us through word-of-mouth. Working more hours and/or opening on weekends would obviously increase revenue.
- Add additional practitioners. In addition to or in lieu of working more hours, the practice could easily support at least one more provider.
- Sell supplements and/or other products. While some patients are given specific supplements, exposing a greater number of patients to the option of supplements or other products offers another opportunity for significantly increased revenue.
- Do some marketing. Given our decades of practice in town, we do almost zero marketing outside of our web presence. We have a database full of patient information that could be used for marketing directly to current and former patients, but we have been busy enough that we haven’t been using it. 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. The current owner has been extraordinarily successful without putting a lot of effort into creating an online presence. Blogging, improving the website, paid online marketing, and doing some email marketing all hold great potential to improve awareness of the clinic in order to generate more revenue.
Some select photos of our beautiful office...
Take advantage of this exceptional opportunity to run your own high-profit, low-maintenance, chiropractic practice located close to two great cities. Fill out the contact form below, call (847) 220-2096, or email [email protected] today.
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