Chiropractic Practice for Sale, Winchester, UK

Excellent opportunity to purchase a well established chiropractic clinic with further potential in the desirable area of Winchester, UK

The clinic

Established in 1982, Winchester Chiropractic Clinic holds a very strong reputation in the area. The business has seen steady growth, both in terms of income and profitability and recent restructuring has further improved profitability.
The clinic supports a traditional approach towards chiropractic treatment, with treatment lasting 10-15 minutes. Practising a mainstream Diversified technique, it also has a good reputation for diagnosis, radiology and x-ray interpretation.

The practice comprises:

• 4 good sized treatment rooms
• Open-plan reception & large waiting area
• Kitchen and Toilet facilities
• X-ray facilities
• 2 external storage sheds
• 3 allocated parking spaces
• Use of a separate dark room
• Front desk software
• Detailed procedures manual/management system to systemise the patient visits/fees from all aspects
  

The financials

The turnover of this practice is in excess of £130,000 and net profit after expenses is approximately £60,000.

Previously, with the assistance of an Associate, turnover had reached almost £160,000, however, profits did not exceed £64,000 in this time.

The area

The clinic is in a historic commercial / residential area in the city centre. The street is mixed use commercial / residential with 2 dental clinics, 4 beauty clinics / salons as well as the Winchester Business Centre.  Parchment Street is also a regularly promoted destination for shopping and is featured in the Xmas lights. 

The clinic is situated on the ground floor with 3 designated parking spaces attached. It is in a strong position for accessibility and has ideal features, being offset from the street but with prominent signage.

The patients

The clinic sees approximately 70-80 patients per week, over a total of 33 working hours.

With a total of 625 new patients over the past two years, this is an average of almost 7 per week (based upon 46 working weeks).

As previously mentioned, the clinic has a very strong reputation and word-of-mouth referrals continue to be the best source of income.

The lease

The practice owner personally holds the freehold of the clinic and is offering an 8 year long lease. An annual rent of £15,500 is anticipated.

Marketing

Due to the clinic currently being marketed, the focus has been somewhat removed from the amount of marketing usually undertaken. Increasing effort in this area would almost certainly improve turnover.

The data from the management program which Winchester Chiropractic Clinic currently employs to record visits and fees is able to be utilised for marketing purposes.

Potential

Considering the size of the clinic in conjunction with the amount of hours currently worked, there is clearly sufficient physical capacity to allow for more chiropractic treatment. The clinic does not currently operate at weekends and accommodating Saturday morning sessions would also easily increase capacity.

To increase performance more substantially and to reduce reliance on the principal, an Associate could be employed.

There is also the potential to move to a more wellness-based approach.

Price

Guide price £140,000

Other information

The reason for sale is that the owner is emigrating

Interested?

Please contact the team at finance 4 chiropractors for more information

T: 01872 242800
E: support@finance4chiropractors.com