Animal Hospital GR530 – West Central Kansas

This companion and exotic animal veterinary practice, located in the main business hub of a west-central Kansas community, provides a unique opportunity for a veterinarian that has a desire to take over a well-established practice that has been serving its community and the local exotic/zoo industry for more than 32 years. In addition to offering predominately small animal care, this practice also has the capacity and experience to serve large animal’s needs, as well as providing care and veterinary support to local zoo animals. This practice is the oldest continuously owned practice in the area and is the sole small animal veterinary hospital in the county. Services offered include: wellness exams, spay and neutering, emergency care, vaccinations, surgeries, dental care, radiology, micro chipping, boarding, and grooming. Services are offered Monday through Saturday with emergency visits accepted at virtually any time during the week, including weekends. The practice uses high quality, modern equipment including a gas anesthesia machine, laser therapy unit, digital x-ray, laser surgery unit, laser CBC Idexx & Idexx Chem - electrolyte thyroid equipment. The business and owner has an outstanding reputation with its 1,500 active clients who appreciate the efforts of this high quality progressive practice. The established group of loyal clientele, estimated by the owner to have a more than 95% retention rate, is another aspect that make this practice so desirable for a new owner and on average 120 new clients per year use the company’s services. The owner is looking at retiring in the near future and has expressed interest in remaining on board for up to 2 years to help in the transition of the practice. Staff employed at this practice includes; two full-time veterinarians (including the owner who is retiring), a full-time veterinary technician / assistant, a receptionist / front office person, two-part time groomers, and three part-time support / helpers. This practice operates its primary location out of a prime location in the middle of the business district of the town but also carries out additional contractual work in a separate satellite location (not owned by the owner). The real estate and facilities of the main location are owned by the current owner separately and are leased back to the business. Ideally this would transfer with the business through a purchase, lease-to-purchase, or lease arrangement. The 3,887 square foot building is separated into a waiting room with display area, two exam rooms, a pharmacy / laboratory area, a surgery room, a treatment area, an office, a large storage area and a grooming/boarding center. The sale would include all of the assets, equipment, supplies and a well-established client list. Historically this practice has displayed a solid financial performance and has a distinct opportunity for continued growth as revenue over the past 6 years has grown at a compound annual growth rate (CAGR) of 2.2%. Gross revenues have consistently been around $400K with current revenues around $420K in 2014. The current owner also sees a growth opportunity in a newly established, centralized Online Pharmacy as well as the grooming services provided by the practice. A good source of its revenue (± 15% - 20% of annual revenues) comes from a contract with the local zoo which the owner will help secure / transition to a new owner. This practice has operated around break-even / slightly cash flow positive as the owner’s personal philosophy is to invest in the employees and take very little out for themselves, thus operating profit / net income based on current operation is estimated to be ~ 2.5% (below industry averages). Annual discretionary cash flow earnings to a new owner, i.e. adjusted EBITDA, is estimated to be more than $100K (before any new owners remuneration), sufficient to service some debt financing.

 

If you are interested in any of these offers or would like more information about the program or process, please contact Denton Zeeman at 785-864-8863, dentonz@ku.edu, or redtire@ku.edu.

 

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