SOLD: Hearing Aid & Audiology Practice
- List Price: $900,000
- Sales: $901,146
- Adjusted Income: $335,972
- Down Payment: NA
- FFE Values: NA
- Inventory: NA
- R.E. Value: NA
- Location: Utah
Established as a family-centered audiology practice with a focus on customized, experienced care, this hearing aid service business offers a variety of services, including hearing evaluations and screenings, ear measurements, functional communication assessments and the full range of hearing aid services: orientation, fittings, service and repair.
The practice has been in business for almost a decade, with a database of over 5,000 that includes 1,750 active hearing aid users and approximately 125 patient visits per month. Sales are split almost in half between new and existing patients with an average selling price of $1,250. The top three product manufacturers account for 25 percent, 20 percent and 21 percent of sales.
The business employs two full-time audiologists, two full-time staff and two contract employees. The current owner is willing to commit to 6-12 months as a contractor during the transition.