For Sale: Acupuncture Practice- Long Established, Profitable - North San Diego Coastal

Current Status: In Escrow     Posting #: 269945     Last Refreshed: 5/6/22    
One of San Diego county's longest-running acupuncture practices is for sale, situated in the beautiful California coastal community of Oceanside. North County Acupuncture, currently the acupuncture practice of Joseph Voss, LAC., is in Northern San Diego County, conveniently located a short 1.5 miles from the beach. It has operated successfully for nearly 25 years, and is still going strong, even through Covid.

Mr. Voss plans to retire out of state, and he seeks a new owner to take on the robust clientele, steady stream of new patients, dialed-in operations; privileged relationship with the VA, and special procedures for lightning-fast remittances from insurers. He is ready to transition and introduce the new owner to NCA's extensive clientele.

Mr. Voss has been bringing in over $220,000 per year; he works less than full-time and takes a month off annually for vacation.

Overhead costs are kept very low thanks to years of streamlining operations; efficient electronic systems, a strong reputation with the community, referring MDs, and the Veteran's Administration (VA).

Thanks to these relationships, new business is steady with minimal marketing effort and expenses. Add more hours, hire an associate and/or sublease some of the ample clinic space, and you can expand an already prosperous practice.

Whether you're just starting your career or an established clinician, North County Acupuncture offers you the chance to hit the ground running. Step into a successful, highly reputed practice in one of the country's most beautiful and desirable places to live and work.

The price is based on a conservative professional valuation of $263,000, with an average yearly gross of over $220,000 for the past several years.

-The owner's motivation to sell in a timely fashion has allowed him to generously factor in a discount off of the valued price for potential attrition and start-up costs on change of ownership. He expects the right person will retain his patients and transition smoothly, making this a great opportunity for the 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, the Unified Practice EHR and billing system, Office Ally electronic billing account, MailChimp mass email application, documented operational protocols and procedures, clinic-related financials, and an elaborate protocol for treating Bell's palsy as a sub-specialty.

-The highly sought-after business name has been trademarked for 20 years, and the trademark was recently renewed for another 5 years. This trademark would also be included in the sale.

-The clinic currently employs one part-time office manager, Mrs. Voss, wife of the current owner. She has developed extremely efficient operational protocols and procedures that enable efficiency, an excellent patient experience, low overhead costs and very rapid remittances from insurers and other payors. Mrs. Voss be willing to stay on and assist through the transition by mutual agreement.

-The landlord is willing to transfer the lease (which is happily below market at this time) and the current owner will facilitate interaction with the landlord in order to secure favorable lease terms.

Mr. Voss aims to transition the practice to a new owner in 2022. He would be willing to stay on for a period to introduce the new owner to patients and referring providers, as well as assist in the transition, 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.

*Expand hours of operation. Though the current owner has office hours 4 days per week, there is plenty of room to expand office hours, including to high demand weekend days, which would allow for more appointments and revenue.

*Add additional practitioners. In addition to or in lieu of working more hours, the practice could support multiple providers as contractors, associates or employees. These additional practitioners could be acupuncturists, massage therapists, estheticians (who would appreciate the running water and sink space in one of the treatment rooms), or other.

*Sublease space to gain passive income. A new owner can determine their office hours and sublet the space to allied practitioners when it is not being used. Given the desirability of the facility in terms of location, vibe, beauty and spaciousness, it could be a consistent source of passive income.

*Add treatment space. The practitioner's office could easily be converted to an additional treatment room, allowing more space for any of the above three additional revenue options.

*Do some marketing. The practice does very little marketing outside of its current web presence and cultivating referral relationships with allied professionals. There is a database 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 not 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. The current owner has been successful without putting too much ongoing effort into the practice's online presence. Blogging (to update the website with fresh content, a good SEO practice), paid online marketing and more frequent email marketing could all grow awareness of the clinic in order to generate more revenue.

*Grow the herbal medicine revenue stream. Furthering patient education on the benefits of herbal medicine could greatly increase the percentage of patients seeking herbal medicine and supplements.