The business was founded in 2011 by the existing owners and is currently located in leased premises in an affluent area of North Cornwall.
The clinic is uniquely positioned in the local area to offer complementary health services in addition to conventional physiotherapy and thus provide a more holistic and complete service under one roof This approach has proved to be very popular and complementary health services now account for around 20% of revenues.
While Covid-19 has necessarily impacted revenue, it has also allowed the business to explore new distribution avenues, and it now delivers physiotherapy services, exercise classes and wellbeing workshops online via videoconferencing software.
The business has successfully developed relationships with both the NHS (supplying for the last 8 years) and other organisations including insurance companies and charities, which provide a consistent stream of clients. Overall the breakdown of source of clients is approximately:
• 30% NHS Clients
• 30% Clients supplied via insurance companies etc
• 40% private self-paying clients
The property is located in a central town location with a reception area and 3 treatment rooms, in addition to on-site parking. There is also a toilet, laundry area and kitchen accessed via a rear hallway. The premises is owned privately by the vendors and could continue to be leased by the physiotherapy business or is also available for purchase at market rate (estimated at c £150,000). Alternatively the business could be relocated within North Cornwall to a location more convenient to the new owners.
One owner (physiotherapist) works full-time while the other owner, providing some of the complementary health services, works 10-15 hours per week. Pre-Covid the business consistently generated sales of £110k to £120k, delivering earnings before owner drawings of c £60k to £65k. Assuming replacement costs of £15k for the part-time owner, the business currently delivers earnings for a single physiotherapist owner of c £45k to £50k. There remain significant opportunities for further growth, including better utilisation of the 3rd treatment room and further online services. The largest treatment room could also serve as a gym space to host small exercise classes including yoga, pilates, rehabilitation classes and personal training.
The guide price for 100% shares of the business is £75,000 to include a Balance Sheet with a positive net asset value. The vendors are flexible in terms of providing appropriate handover support.
The business is being marketed by www.sellmysmallbusiness.co.uk and enquiries should be directed to them. Please do not attempt to contact the vendor directly.
Is this business relocatable:
Yes
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