Asheville, NC

Chiropractic office in the heart of downtown Asheville, walking distance to restaurants and cafes, fitness/yoga facilities, and many other small local businesses. 

For more Information Contact Dr. Foster
Dave@BackOfficeConsults.com or call/text 973-885-8078

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Practice Information

Date Established2004
Date Practice Acquired7/1/2012
At Current Location Since2004
Reason for SellingMoving closer to family
Does seller own or work out of another practiceNo
If YES how far away?-
Seller agrees to non-compete agreement?Yes
Type of practiceSolo
List techniques by %Combinations of Diversified (70%), Instrument Assisted (30%), Graston Technique (50%), SOT blocking (as needed), Thompson Drop (on occasion), Webster Technique (when patient is pregnant)
Associates? If yes how long?No
Independent Contractors? If yes how long?1 DC working 1-2 Wednesday mornings per month (semi-retired, previous owner of the practice) & 1 Massage Therapist working every other Saturday for 2-3 hours (since 2016)
Facility TypeFree Standing, Professional/Medical Building, Shared with 2 dentist offices (2 of the dentists are the owners of the building), and 1 psychiatrist

Office Description

Square Feet900 - 1,000
$/month and lease term$1,533/mo for 12 months
Renewable?Yes
Purchase Option?No
Utilities Included?Yes
Year Last RemodeledUpdated carpeting, paint, and restroom floor in 2014
Any loans or equipment leases on practice?Yes- ChiroTouch software
Anyone in practice involved in litigation past or present?No
Number of Adjustment Rooms1 - 2
Chairs in Waiting Room4
Drs. Office0 - 1 (currently using the smaller adjusting room as doctor's office)
Number of Seats in Work Area1
X-Ray RoomNo
Number of Rest Rooms1 (shared with office next door)
Parking TypeLot
Signage TypeSign in parking lot, not visible from road
X-Ray No
Number of Computers1
SoftwareChiroTouch
TherapiesGraston Technique, IFC & EMS, Myofascial Release, Heat, Ice
Therapies ValueGraston Tools = $ 2295.00, Hydrocollator = $295.00, IFC & EMS = $600

Practice Hours

MondayTuesdayWednesdayThursdayFridaySaturday
9 - 59 - 59 - 59 - 5--
General Description of Facility

The office is located on the 2nd floor in a 2 story building with 2 dentist offices on the lower level and 4 suites on the top level.  The building is located on a beautiful street in downtown Asheville with its own parking lot. It is in walking distance to restaurants and cafes, fitness/yoga facilities, and many other small local businesses. 

The chiropractic suite includes a reception area upon entering. There is a work station, file storage, and inventory shelf in this area. The waiting room is comfortable and welcoming with 4 chairs, a desk and chair, as well as some furniture pieces with storage. There are two rooms that can be used as treatment rooms. Currently we use one for treatment and the other as the doctor’s office, although there is an extra table in it. The main treatment room is through french doors. It has 3 large windows overlooking the street and gardens. There are 2 bookcases, a mini-fridge, hydrocollator, treatment cart with electrotherapy equipment, 3 chairs, and an antique chiropractic table. The second treatment room/doctor’s office is equipped with a desk and chair, a large filing cabinet, a drop table, and a storage cupboard.

The office also has a hallway with a water cooler and closet for storage. This hallway is shared with the neighboring suite and has a large restroom located off of it.

General Description of Surrounding Area and Patient Base

The office is located in downtown Asheville and is easily accessible from most areas of Buncombe and Henderson County.  Asheville is a lively town in the mountains of North Carolina with so much to offer. It is full of outdoor enthusiasts, artists, entrepreneurs and is a wonderful place to have a family. Small businesses thrive here. Many of the patients in this office own, have owned, or have worked for a small business themselves including; restaurants, galleries, breweries,  salons, web development companies, yoga centers, gyms, B&Bs, and more.  The largest employers in the area are HCA Health Care including Mission Hospital & Health Systems, Buncombe County school district and the service industry including The Biltmore Company with many hotels and restaurants.

Most patients that seek treatment at this practice are educated and have established careers; however we do see a wide range of patients from different socioeconomic backgrounds with careers ranging from maintenance workers, hospital technicians, servers, to teachers, brewers, nurses, stay-at-home moms and accountants, to aeronautical engineers, CFOs and CEOs.  The practice is wellness centered so we see a variety of people from babies to retirees, and many come to their appointments as couples or as a family.

Additional Information

The practice used to do health coaching as well. The DC that focused on that is the semi-retired independent contractor that the practice was previously purchased from. Also health coaching has decreased as the current owner focuses more on the musculoskeletal issues there is still a number of patients that purchase their vitamins and supplements through the practice. Income from the supplement sales will be included in the financial section of this report.

Personnel

Position/ResponsibilityFull Time/ Part TimeLengthSalary/ Comm
Front DeskPT (~20 hrs/wk)1+ year$12/ hr
Massage Therapist6 hrs/ month3 years$60/ massage
Independent Contractor- DC8 hrs/ month15 years30% of existing patients, 60% for new patients, 60% for Health Coaching

Financial Information

 As of the Present Year (01/01/19- 06/30/19)Previous Year (2018)2 Years Previous (2017)
Gross Services$74,879.21$172,162.83$189,315.44
Gross Collections$64,399.84$140,355.96$158,705.42
Expenses$49,181.77$115,085.91
Net Income$15,218.07$25,270.05

Patient Information

 As of the Present YearPrevious Year2 Years Previous
# of Patient Visits1,2642,5342,586
# of New Patients4710596

Patient Breakdown

Category %86% Cash, 11% Medicare, 3% Personal Injury
Source by %90% Referral, 10% Internet/Website
Number of Patient Files1,237
Active Patients362
Demographic Breakdown35% Male, 65% Female, 3% Pediatric

Agreement of Confidentiality

To contact seller, please sign and send the above Agreement of Confidentiality to Dr. David.

email: Dave@BackOfficeConsults.com

text: 973-885-8078

fax: 973-695-1650

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