Profitable audiology practice ready for new owner

Knoxville, TN
Knox County


Asking Price: Annual Revenue:
$550,000 $721,469

Services: Medical, Dental


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RE: Profitable audiology practice ready for new owner Broker: Drew Rutherford
Owner Financing is Available!
$50,000.00

Quick Facts

Asking Price: $550,000
Annual Revenue: $721,469
Net Profit: Not Disclosed
Cash Flow: $341,163
Total Debt: Not Disclosed
FF&E: $85,000
Real Estate: Not Disclosed
Year Established: 2008
Employees: 5
BBN Listing #: 202854611
Broker Reference #: 5182-969716

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Business Overview:

This East Tennessee audiology practice offers a range of hearing exams and hearing aids, as well as a robust online fulfillment business. Founded in 2007, this practice has steadily grown to its current level through shrewd adaptation to the market. The owners added online sales of hearing aid batteries and parts, and that now represents a significant portion of the business. Additionally, the practice has seen an uptick in hearing exams and hearing aid fittings from third party contracts. The practice continues to see traditional referrals as well. In 2019, the business experienced its best-ever profit, and is poised to continue this performance under its new owner.

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Property Features and Assets:

Founded in 2007, this practice has steadily grown to its current level through shrewd adaptation to the market. The owners added online sales of hearing aid batteries and parts, and that now represents a significant portion of the business. Additionally, the practice has seen an uptick in VA and Medicare hearing exams. In 2019, the business experienced its best-ever profit, and is poised to continue this performance under its new owner. The 1,480 square-foot facility includes a waiting room, front office and checkout room, as well as two testing rooms, a hearing aid lab, hearing aid fitting room and storage room.

Market Competition and Expansion:

There are several audiology practices in the city, but not many in the community this practice resides. Potential Growth: Expand online offerings, sell over-the-counter hearing aids, hire additional audiologists, expand VA/Medicare exams, market to external community

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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