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Practice Profile: Willing to Finance, Ready to Go

Posted by Betsy Krekling, ADA Advisor on 1/28/22 9:00 AM
Betsy Krekling, ADA Advisor

MountainPractice

Ready to buy? This seller is ready to retire – and willing to help finance your purchase! He’s even willing to help mentor you to succeed.

Operating since the 1950s, this profitable, 5-operatory, fee-for-service practice is one of the longest-established businesses in the community. It’s earned a great reputation – and with only one other practice in town, competition is limited.

We asked this seller what makes his practice and community a great place for a buyer. Read on for his responses:

What makes your practice unique? 
Ethics, compassion, longevity, and profitability. My family has provided healthcare at the same location since 1929. My grandfather was a physician in my office space and my father started the dental practice in mid-1950s and I arrived on the scene in 1986. I would say we are one of the top three oldest businesses in Martins Ferry, Ohio.

Fortunately, our reputation for treating our patients the “right way” has made the office an asset to the community. I am told we are one of the few dental practices that does not participate on any insurance panel, so we are really fee for service. I never wanted to work “for” an insurance company and I feel our longevity and reputation has afforded us that ability. 
While I do treat some Ohio Medicaid, I do so out of respect for my community and the population that resides here. Medicaid is about 30% of the practice. For a new owner, the practice cash flows easily and I would be willing to finance the right person/persons (perfect for husband and wife).

What do you like about your office space? 

Plenty of room with 5 ops and room to add more. The building is in great repair and equipment current and up to date. All new computers and HVAC. It is on the main street in Martins Ferry, one block from the local hospital. Easy access and easy parking outside the front door, with plenty of space for staff.

How would you describe your town and region? 
The office is located along the Ohio River, just off I-70. Pittsburgh is less than 1 hour and Columbus is 2 hours. The area is surrounded by rolling hills and a number of parks. 

People that live here say they are from the Ohio Valley, which encompasses a number of small towns. The nicer places to live are in Wheeling, WV (4 miles away) or St Clairsville, OH (8 miles). Oglebay Park is in Wheeling and is one of the largest city-owned parks in the United States. 

Throughout the region, there’s wonderful biking, running, hiking, and swimming. Music and cultural events abound, including many festivals all summer long.

And when you want to really leave, Pittsburgh International Airport is just 45 minutes from the office.

Which industries/employers are most prominent in your town/area? Are there any new investments in the area? 

Healthcare and education are the largest employers. Additionally, the gas and oil industry has become a dominant economic engine in the region. Martins Ferry is optimistic that a new $6 billion “cracker plant” will be built in the area (less than 10 miles) to revitalize the entire Ohio Valley. This plant is taking advantage of the largest oil reserve in the world and, when developed, will employ thousands of workers. As one industry executive said, the gas and oil industry in Southeastern Ohio is the biggest thing to hit Ohio since the plow.

What would you tell someone considering raising a family in your town? 

Low cost of living with many benefits. Many educational options both public and private. Very low crime. Ample healthcare. If you desire a night on the town, drive less than hour to Pittsburgh, which is a great city. No traffic to or from work. Oglebay Park has many opportunities for the family, swimming, skiing, ice skating, hiking, playgrounds, lakes, and zoo to name a few.

 

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Topics: practice profiles


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