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Hi all.
So as some of you know, I'm about to open an advanced Beauty Clinic where I live. The local I will be granted, (I have not written a contract yet) will be in a new citycentre they are building here in the city, about 1km away from the original centre. This will be the centre with commercial bussiness, banks and offices aswell as some stores. Furthermore it will be close to a parking and oposite a big avenue where there is alot of traffic.
The cost of this local is about 25k euros. Rent is about 1.2k euros per month.
Pros:
Alot of car flux
Parking
New, beautifull area and moden local.
Very high visibility
Cons:
New untested area
Construction of the whole area will finish 2021/2022 so there will be some restriction of movement for pedastrian
The idea was to go with this local however I got an offer yesterday. It is to buy an existing clinic that is not going well. The inside of the clinic is very nice, is located next to the buss stop of the biggest plaza in the city, so there are alot of movement outside. It is however locaded on the second floor of a resident building so clients need to write a code to enter building, then take the elevator or stairs to the second floor to find the clinic. The inside of the clinic is perfect, very nice and modern with 3 treatment rooms.
The reason the current owner is selling is that she has been burned out so she has not been able to maintain or grow the clinic for the last year. Example because the clinic is on the second floor, she has no vivibility from pedestrains outside. However, she has the ability to put up a big sign 2x1,5 meters outside the entrance to increase visibility bus she has not had the energy. Also she is not doing any advertisement online on social media but just have her webpage who is not that great and need a makeover.
So the potential is big I think.
She is asking 50k euros for the clinic but I'm sure I can get it for 25-30k. The turnover is about 50k a year with 20k of profit. However she does not do any treatment that generate real profit and the avarage of a normal clinic with more advanced treatments has a turnover of about 100-150k per person and 40k profit per year.
Further more she has a register of about 1.5k clients that we will get access to when we start to advertise. She will also stay for a few month to make the transver easier.
So aquisition of the clinic is 30k with 1.6k rent each month.
Pros:
Existing clinic with everything included (no expensive machines however)
Excisting clients and turnover, albeit quite small
Big potential for expanding
Locaded in the city plaza.
Potential for increased visibility and advertisement
Cons:
More expensive
The entrance is the biggest con since you have to enter a locked gate to a resident building, then rise one floor by stairs or elevator. If the clinic was on the first floor I would buy it in a heartbeat so this is the main disadvantage for me.
So the question is what clinic is the right one to buy/invest in? Both clincs has 3 rooms for treatments, locaded in good areas but the existing one has the problem with the entrance.
So as some of you know, I'm about to open an advanced Beauty Clinic where I live. The local I will be granted, (I have not written a contract yet) will be in a new citycentre they are building here in the city, about 1km away from the original centre. This will be the centre with commercial bussiness, banks and offices aswell as some stores. Furthermore it will be close to a parking and oposite a big avenue where there is alot of traffic.
The cost of this local is about 25k euros. Rent is about 1.2k euros per month.
Pros:
Alot of car flux
Parking
New, beautifull area and moden local.
Very high visibility
Cons:
New untested area
Construction of the whole area will finish 2021/2022 so there will be some restriction of movement for pedastrian
The idea was to go with this local however I got an offer yesterday. It is to buy an existing clinic that is not going well. The inside of the clinic is very nice, is located next to the buss stop of the biggest plaza in the city, so there are alot of movement outside. It is however locaded on the second floor of a resident building so clients need to write a code to enter building, then take the elevator or stairs to the second floor to find the clinic. The inside of the clinic is perfect, very nice and modern with 3 treatment rooms.
The reason the current owner is selling is that she has been burned out so she has not been able to maintain or grow the clinic for the last year. Example because the clinic is on the second floor, she has no vivibility from pedestrains outside. However, she has the ability to put up a big sign 2x1,5 meters outside the entrance to increase visibility bus she has not had the energy. Also she is not doing any advertisement online on social media but just have her webpage who is not that great and need a makeover.
So the potential is big I think.
She is asking 50k euros for the clinic but I'm sure I can get it for 25-30k. The turnover is about 50k a year with 20k of profit. However she does not do any treatment that generate real profit and the avarage of a normal clinic with more advanced treatments has a turnover of about 100-150k per person and 40k profit per year.
Further more she has a register of about 1.5k clients that we will get access to when we start to advertise. She will also stay for a few month to make the transver easier.
So aquisition of the clinic is 30k with 1.6k rent each month.
Pros:
Existing clinic with everything included (no expensive machines however)
Excisting clients and turnover, albeit quite small
Big potential for expanding
Locaded in the city plaza.
Potential for increased visibility and advertisement
Cons:
More expensive
The entrance is the biggest con since you have to enter a locked gate to a resident building, then rise one floor by stairs or elevator. If the clinic was on the first floor I would buy it in a heartbeat so this is the main disadvantage for me.
So the question is what clinic is the right one to buy/invest in? Both clincs has 3 rooms for treatments, locaded in good areas but the existing one has the problem with the entrance.
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