Chesterton-HIGH PROFIT PRACTICE FOR SALE IN NW INDIANA/CHICAGOLAND AREA
Unique opportunity to own a lucrative nearly all-cash Chinese medicine and bodywork practice in the beautiful lakeside hamlet of Chesterton, Indiana. East Wind Acupuncture, the practice of Laura Zaranski and associates, is located within easy commuting distance of Chicago, but is worlds away from the hustle and bustle of the big city. With an open and health-conscious population and a decade of consistent return business, the opportunity to have an abundant practice and an exceptional quality of life is available from the moment you step in.
Imagine netting over $7,500 per month working less than 25 hours per week with up to a month off per year for vacation. No additional marketing necessary—the reputation of this practice keeps a steady flow of new patients streaming in. A long history in the community, years of records, and consistent patient flow mean you’ll continue to keep your costs predictable. Add more hours, add more practitioners, and/or accept insurance, and you have the chance to add even more success to an already prosperous practice.
Whether you are a practitioner who is just starting out or an established clinician with some years under your belt, East Wind Acupuncture offers you the chance to hit the ground running. Step into this rare, once-in-a-lifetime, turn-key opportunity to run the practice of your dreams in one of the most beautiful, tranquil areas in the country. Call or email us today, come by and spend some time with us, and be thriving in a couple of short months.
Nestled along the southern shores of Lake Michigan, Chesterton, Indiana, is a welcoming town that combines Midwestern hospitality with the allure of lakeside living. With a population of around 14,000 residents, Chesterton offers a warm and tight-knit community. What makes this town truly special is its proximity to the bustling metropolis of Chicago, just a short drive or train ride away. Residents and visitors enjoy the best of both worlds, with easy access to the world-class cultural, dining, and entertainment opportunities of the Windy City, while still savoring the charm and serenity of small-town life. Chesterton is also a hub for outdoor enthusiasts, offering hiking, biking, and beach activities along the scenic dunes of Lake Michigan. The annual Wizard of Oz Festival, European Market, and charming downtown area make Chesterton an inviting destination for all. Whether you’re strolling through downtown, exploring the dunes, or experiencing the arts and culture, Chesterton beckons with the promise of both tranquility and adventure.
The clinic is located in downtown Chesterton with easy access to the rail lines along Lake Michigan into Chicago and is close to a major highway that runs between Chicago and Detroit. The 2,800-squarefoot space has been a medical office for 20 years. It has three levels and includes a waiting/reception area, 9 treatment rooms, a back office, an exam room, a private practitioner office, ample storage space, a laundry room with a washing machine and 2 dryers, and a bathroom on each of the three floors. The office has its own private parking lot and a large (880-square-foot) garage. The office is modern and tastefully decorated, and the clinic maintains a close relationship with nearby health providers and the local community, from which it receives many referrals.
East Wind Acupuncture is a non-specialty practice, seeing everything from subclinical and acute orthopedic conditions to chronic issues that have not responded to other medical interventions. Current specialties include treatment of pain, digestive problems, women’s health issues, anxiety and stress, among other conditions.
The patient population has spanned from children to great grandparents and everyone in between. That said, the majority of the current patient load consists of women between the ages of 25 and 60. The current owner and her associates have been delivering more than 5,000 treatments per year for many years now. Nearly all patients pay in full at the time of service, the exception being that the clinic also serves some Veterans’ Administration patients.
Most patients are from communities within 30 miles of the office, though many come from as far as two hours away. Given the owner’s long history in the area, almost all patients are referred by other practitioners and word-of-mouth, while some come through the practice’s online presence. The current owner is happy to provide years of past calendars to prove consistent patient volume.
The current owner has been quite uncomplicated in the methods she uses to treat patients, primarily employing Zang-Fu and channel theory diagnosis and treatment methodologies. She uses Balance Method acupuncture techniques, gua sha, moxibustion, and prescribes herbal medicines as appropriate. She has practitioners who offer Thai massage, reiki, cranial sacral treatments, electrical stimulation, rapid release technique, and herbal consults. The clinic also has a large onsite herbal pharmacy with powders and pills, topicals, homeopathics and supplements.
Income and Expenses
The following income and expense summaries are derived from an average of income and adjusted* expenses from 2018-2022. Note that the current owner has limited patient contact hours three days per week and takes up to four weeks off per year.
Average gross yearly revenue (four years): $553,995 ($46,166/month)
Average adjusted* expenses: $462,631 yearly ($38,553/month)
*Adjusted expenses are the net expenses that a new owner would have to take on in order to run the business at the same level of revenue as the current owner.
Average $91,365 per year ($7,614/month)
Pricing and Terms
The price is based on a conservative professional valuation of $180,547 with an average yearly gross of $553,995 for the past several years. The owner’s motivation to sell in a timely fashion has allowed her to factor in a discount off the average gross for potential attrition and start-up costs on change of ownership. She expects the right person will retain her patients and transition smoothly, making this a great opportunity for the buyer.
The purchase will be structured as an asset purchase agreement and may be drawn up between buyer and seller (preferred) or by attorneys, at the discretion and by agreement of both parties.
Approval of the buyer is subject to a credit check, and loans from medical practice brokers, banks, or the Small Business Administration (SBA) may be available to finance the transaction depending on the buyer’s creditworthiness. The seller may also be willing to hold a loan for the right 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, Wellness Living Software for billing, scheduling, and automated appointment reminders, Facebook account, YouTube channel, Yelp account, and clinic-related financials.
The practice currently employs an office manager, a receptionist, an acupuncture assistant, a massage/cranial sacral therapist, and a Thai massage therapist. The massage therapists are all independent contractors, and the rest are W-2 employees. All may be willing to stay on with a new owner or help in the transition by mutual agreement.
The landlord is willing to transfer the lease or start a new one, and the current owner will facilitate interaction with the landlord in order to secure favorable lease terms.
The current owner’s goal is to surrender the practice by the end of 2023. She would be willing to stay on for a limited time to train a new owner in her techniques and to assist in the transition, if so desired by the new owner, at no additional cost.
Opportunities for Growth
While the current practice nets a healthy return, a motivated buyer could significantly increase their income upon acquisition through a number of simple changes.
- Work more hours. The current owner has limited patient contact hours three days per week, leaving plenty of room to work more hours in the clinic, which would obviously increase revenue.
- Add additional practitioners. In addition to or in lieu of working more hours, the practice could support at least one more provider during the times when the office is unoccupied. Renting out space to other allied practitioners would also bring in additional passive income.
- Consolidate employees. A motivated new owner could significantly reduce costs and increase net by reducing staff down to a receptionist and case manager.
- Accept insurance. East Wind is proud to be a low-maintenance, nearly all-cash practice. However, a new owner could increase revenue by accepting patients who have medical insurance that covers their treatments.
- Increase marketing. The practice does very little marketing outside of its web presence. There are file cabinets and databases 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 rarely 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 effort into creating an ongoing online presence. Blogging, upgrading the website, paid online marketing, and doing some email marketing all hold great potential to improve awareness of the clinic in order to generate more revenue.
- Sell more supplements. Offering a greater percentage of patients the option of herbs and supplements, including online ordering and drop-shipping, presents another opportunity for increased revenue.
Take advantage of this exceptional opportunity to run your own high-profit, low-maintenance clinic in a spectacular location. Call (219) 448-0941 or email [email protected] today.