Buying a Medical Clinic Business in Florida

Buying a Medical Clinic Business in Florida

Buying a Medical Clinic Business in Florida

Medical Clinics in Florida
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Buying a Medical Clinic Business in Florida

Buying a medical clinic business in Florida can be a great way to take ownership of a successful business in Florida and tap into the positive demographics, population growth, median household income and other trends benefitting Florida small business owners today. 

Selling a Medical Clinic Business in Florida

If you are the owner of a successful medical clinic business in Florida, now could be a great time to take advantage of these trends and the rising demand among U.S. and international buyers for great businesses for sale in Florida that are established, profitable, and resistant to external pressures like recessions, global pandemics and online retailers. 

The Health Care Industry in Florida

Florida is home to more than 46,000 healthcare companies dedicated to serving the needs of the state’s growing and aging population. Foreign entrepreneurs looking to tap into this growing industry can choose from a wide variety of medical services delivered to patients either in-home or at a retail location near one of Florida’s 750 hospitals.

“Florida healthcare companies cater to the state’s growing and aging population”

Both licensed physicians and non-physicians can purchase medical clinics in Florida depending on the type of patient services offered. Licensed physicians can also purchase existing medical practices in areas like dentistry, pediatrics and obstetrics. Assisted Living Facilities (ALF) and in-home care providers are another niche opportunity to purchase an existing business that caters to Florida’s booming senior population.

The Role of Medical Clinics in Florida 

The health care industry plays an enormous role in the state economy of Florida, especially given the high percentage of residents approaching or beyond retirement age. As health care costs continue to rise in the United States at an astronomical rate, millions of Florida residents turn to medical clinics for primary care services, specialty care treatments, and preventive care solutions that promote wellness and longevity.

“Florida residents look to medical clinics for specialty and preventive care.”

Many medical clinics in Florida perform a wide range of minor surgery, clinical testing and diagnostic services in conjunction with primary care physicians and private health insurance companies that recommend these clinics through established referral networks. Many of these clinics have licensed physicians in-house and offer a wide variety of services like acupuncture, chiropractic, dermatology, general surgery, oncology, podiatry and radiology among others.

“Florida medical clinics offer a wide range of surgery, testing and diagnostic services”

Florida is also home to a growing number of health and wellness clinics that promote non-traditional and holistic therapies for mind and body. Many cosmetic and anti-aging medical spas in Florida cater to wealthy residents in coastal regions with non-invasive procedures such as Botox, facial fillers and other aesthetic facial and skin treatments.

“Florida medical clinics offer a wide range of surgery, testing and diagnostic services”

The legalization of medical marijuana in Florida in 2019 has also led to an increase in the number of clinics and dispensaries statewide that receive patients and sell a wide range of products containing hemp-derived CBD oil to treat arthritis, anxiety and insomnia. As of January 1, 2020, the State of Florida began more closely regulating the sale of CBD products for both people and pets in Florida.

Skills needed to Operate a Medical Clinic Business in Florida 

As in all states, the medical industry in Florida is highly competitive, and owners of the most successful medical clinics in Florida have many years of experience and hundreds of satisfied customers who depend on these local clinics for their surgical, testing, diagnostic, pain management and holistic wellness services.

“Florida medical clinics provide surgical, testing, diagnostic, pain management and holistic wellness services”

Ideally, a future owner of a medical clinic business in Florida would already have several years experience as an employee or owner/operator of a medical-related business in their home state or home country.

Many owners of established medical clinics in Florida will only consider selling their business to a buyer who has a proven track record of experience in the medical industry or a related segment of the health care industry, either as an employee or an owner/operator of the business. 

Best Cities For Buying a Medical Clinic Business in Florida 

Once you’ve decided to purchase a medical clinic business in Florida, it’s time to choose the location where you want to acquire a successful business. Several factors should be taken into consideration including a variety of demographic and quality of life metrics that will impact both your Florida medical clinic and the customers you serve. 

Florida’s population of 23 million is spread throughout the state’s 67 counties, but the largest clusters of high net worth households paying top dollar for health care services are concentrated in the southern half of the state along a ring of 14 coastal counties on the Atlantic Ocean and the Gulf of Mexico. This “golden horseshoe” of Florida demographics encompasses the 25 Wealthiest Zip Codes in Florida based on Average Gross Income.

“This 14-county coastal region is the Golden Horseshoe of Florida demographics.”

This 14-county coastal region extends from Tampa/St.Petersburg on the Gulf side, south to Naples/FortMyers and down to the Florida Keys, east to Miami/Fort Lauderdale and extends north through the coastal communities of Boca Raton, Palm Beach, Jupiter, Port Saint Lucie and Vero Beach. 

Median Asking Price of a Medical Clinic Business in Florida

Once you have decided to pursue the acquisition of an existing medical clinic in Florida and narrowed your list of desired cities and markets in the Sunshine State, it is important to get a better understanding of how much it will cost to purchase the existing Florida medical clinic either with cash or some combination of cash and financing, either through an SBA loan or seller financing if available. 

According to the Florida database of businesses for sale, the median asking price for a medical clinic in Florida is $800,000 for existing businesses generating over $400,000 in annual revenue and over $150,000 in annual cash flow.

“The median asking price of a profitable Florida medical clinic business is $800,000”

The range of asking prices for Florida medical clinics for sale extends from $285,000 on the low end to $9,300,000 on the high end for Florida medical clinics generating over $400,000 in annual revenue and over $150,000 in annual cash flow.

Median Annual Revenue of Medical Clinics in Florida 

With a talented medical team, solid referral network, strong reputation in the community and an established clientele, medical clinics in Florida can be great revenue generators for both current and future owners. According to the statewide database of businesses for sale in Florida, the median annual revenue for Florida medical clinics is $1,000,000 for existing businesses generating over $400,000 in annual revenue and over $150,000 in annual cash flow.

“The median annual revenue of a Florida medical clinic business is $1,000,000”

The range of annual revenue for Florida medical clinics extends from $400,000 on the low end to $3,100,000 on the high end for Florida medical clinics generating over $400,000 in annual revenue and over $150,000 in annual cash flow.

Median Cash Flow of Medical Clinics in Florida 

Established and well managed medical clinics in Florida can produce significant cash flow benefitting both the current owner and future owners of these businesses.

“The median annual cash flow of a Florida medical clinic business is $305,000”

According to the official database of businesses for sale in Florida, the median cash flow for a medical clinic in Florida is $305,000. As such, medical clinics for sale in Florida enjoy a median cash flow of 30% of annual revenues.  ($305,000 / $1,000,000 = 30%)

The range of annual cash flow for medical clinics for sale in Florida extends from $160,000 on the low end to $2,500,000 on the high end for Florida medical clinics generating over $400,000 in annual revenue and over $150,000 in annual cash flow.

“The median payback period for a Florida medical clinic is 2.6 years.”

Based on these same numbers, the ratio of median cash flow to asking price for existing Florida medical clinics for sale is 38% ($305,000 / $800,000) which translates into a median payback period of 2.6 years.

Additional Research for Buying a Medical Clinic Business in Florida

If you are interested in performing additional due diligence on the medical clinic industry in Florida, our resource page has an excellent collection of links to industry groups and associations for the most popular small business sectors in Florida. You can also request more information about buying a medical clinic business in Florida using the contact form below. 

Additional Information for Selling a Medical Clinic Business in Florida

As the company that sells more businesses than anyone else in the world, Sunbelt offers a variety of resources for Florida medical clinic owners contemplating the sale of their business. You can request these free white papers on our resource page. And if you would like to schedule an initial consultation regarding your business and potential valuation, please use the contact form below. 

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