Business For Sale

Psychology Practice For Sale in Tampa Bay

Not Disclosed, FL

Asking Price: Annual Revenue:
$199,000 $377,027

Services: Medical, Dental

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RE: Psychology Practice For Sale in Tampa Bay Broker: David Kresge
Owner Financing is Available!
$19,900 down/$49,000 for 24 mos/Other Financing

Quick Facts

Asking Price: $199,000
Annual Revenue: $377,027
Net Profit: Not Disclosed
Cash Flow: $250,954
Total Debt: Not Disclosed
FF&E: $13,050
Real Estate: Not Disclosed
Year Established: 1987
Employees: 4
BBN Listing #: 82244955
Broker Reference #: 1001-14119

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Business Overview:

A seasoned, well established Psychology practice AND a Psychological testing practice (Two in One) with strong seasoned staff, well positioned in an influential community generating $377K in billings and a $250K Owners Benefit. The mix is Therapy Services 80% and Testing Services 20%. The Therapy Services billed 73% medicare and 27% general insurance in 2017. This practice is designed to provide flexibility to the family's needs. It's core focus is on effective cognitive behavioral, short term therapy with a mindfulness approach. The 2 doctor practice receives 75% Insurance/Private Pay and 25% Government payment with excellent accounting systems and collectively some 887 patients seen in the past 16 months. The therapy component has over 200 existing patients. With the strong referral resource that exists with the Testing component this opportunity offers a built in means to stabilize and grow as desired. They operate in a very professional setting within a class A office building. The Owners are willing to remain with the practice as employees for a period of time to maximize client retention.

They also have a robust online tele-therapy offering enabling patients to communicate frequently with their doctor. This is a two doctor opportunity for a team or a one doctor opportunity with the ability to hire a therapist as an employed associate.

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Property Features and Assets:

The practice is located in a 70K sf, Class A office building in an influential area on a major highway artery. The office space is 1,081 sq. ft. and began at this location in 2009. It is currently in the 4th year of their 5 year extension that expires June 30, 2019. The landlord is receptive to renegotiating the lease at market rates. Payments are currently $2,168.49 a month to include sales tax and includes 3 offices, a conference room and reception area. Parking allotment is 4:1 Pictures are available. Assets: $47,853

Market Competition and Expansion:

This practice enjoys the benefit of two highly trained, established and successful doctors who started in this market in 1987. This practice is scale-able. In the past, the Practice had two additional offices in the area with 10 therapist. It was scaled down to redirect time to the growth of the family before reigniting it to the level they enjoy today. There are revenue records dating back to the beginning. During the past 16 months the dual practices combined had some 887 patents events. The traditional cognitive behavioral practice enjoys some 200 patents in various stages of frequency. A typical day runs 8-4 with up to 11 sessions in a day within a 40 hour week. The remaining are within the behavioral testing practice which has higher volume and is a source for adding cases to the traditional practice. The cognitive behavior counseling approach that is predominantly testing has a strong referral resource and has produced up to 600 events that are then followed up with various recommendations. Growth is directly correlated to the therapist. The Seller has grown the practice to a total of 3 locations with 10 therapist in the past and contracted it to manage the growth of their children through the school years. The sellers are willing to provide a comfortable transition setting as they want to ensure that their patents are transitioned smoothly. Combined with a smooth introduction to the referral resources, the growth potential is up to the new owner but the limits are on their time. The current practice is turning away referrals due to time constraints.

Reason for Selling:

Sellers are relocating out of state.

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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