Thrive Acupuncture + Wellness
Rapid City, South Dakota
Own a lucrative, high-net Chinese medicine practice in gorgeous South Dakota!
Step into this rare, once-in-a-lifetime, turn-key opportunity to run the practice of your dreams. Call or email us today, come by and spend some time with us, and be thriving in a couple of short months!
Ready to leave the rat race?
Unique opportunity to own a lucrative, high-net practice, mostly-cash practice near the famous Black Hills of South Dakota.
Thrive Acupuncture and Wellness (Thrive), currently the acupuncture practice of Nic Krueger and Alan Suhr, is located in Rapid City.
South Dakota considers Chinese medicine an essential service during the COVID-19 outbreak, and the clinic has continued to succeed under special clean field and social distancing guidelines.
Imagine making $180,000 per year with two months off for vacation, with no state income tax! And no marketing necessary—the reputation of this practice keeps a steady flow of new patients streaming in.
Low overhead, years of records and consistent patient flow mean you’ll continue to keep your costs predictably low. Add more hours, hire an associate, sublease some of your space or accept insurance, and you have the chance to add even more success to an already prosperous practice.
Whether you are a practitioner who is just starting out, or an established clinician with some years under your belt, Thrive offers you the chance to hit the ground running. Step into this rare, once-in-a-lifetime, turn-key opportunity to run the practice of your dreams in one of the most historic, tranquil, and beautiful areas in the country. Call or email us today, come by and spend some time with us, and be thriving by the end of the summer.
Learn much more below.
- The Setting
- Patient Demographics
- Modalities Utilized
- Opportunities for Growth
- Rapid City is well known for its proximity to six national parks, including Mount Rushmore just 25 miles away.
- Located between the Badlands and the gorgeous Black Hills, this traffic-free city has a population of about 75,000, with an additional 125,000 or so in its outskirts.
- Visitors and locals alike are enthralled by a plethora of outdoor adventures and a charming and historic downtown.
- Options are plentiful for people who enjoy world-class outdoor activities like hiking, biking, fishing, kayaking, rock climbing, wildlife viewing and off-the-beaten-path exploration.
- Traipse through the national parks and see a variety of landscapes, including mountains, hills, canyons, valleys, creeks and lakes.
- In addition to prominent Native American arts and culture, Rapid City has become known for its culinary, winery and brewery scene as well as history tied to the original settlers.
- An uptick in job growth, low taxes and an abundance of college-educated residents has placed Rapid City as one of Forbes’ top 20 best cities to pursue a business or career.
- Cost of living is low, and the family-friendly vibe makes Rapid City a great place to call home.
- The clinic is one of only a handful in the area, and the closest to the center of town. It consists of a lobby/reception area; five treatment rooms; and a break room with small kitchen.
- Four of the five treatment rooms have big, beautiful windows.
- The landlord allows renting rooms individually, so you can feel free to expand or contract your practice as need be.
- Thrive is a non-specialty practice, seeing everything from subclinical and acute orthopedic conditions to chronic issues that have not responded to other medical interventions. That said, most patients tend to come in for issues related to pain, fertility, digestive disorders and anxiety.
- The patient population has spanned from infants to great grandparents and everyone in between.
- The majority of the current patient load consists of professionals between the ages of 35 and 65, and the clinic is 80% pay-at-time-of-service.
- Much of the remaining 20% are the veterans we serve through referrals from the Veteran’s Administration (VA).
- The current owner averages about 15 patient visits per 3-day week for the past two years, and 20-22 visits prior to that.
- Most patients are from communities within 25 miles of the office. However, Thrive also sees patients traveling from as far away as Nebraska and Wyoming--from communities that have no options other than western urgent care.
- Given the owners’ long history in the area, most patients are referred by word-of-mouth, while some come through the practice’s online presence, and a good number are consistently referred by local MDs, PAs, PTs and chiropractors.
- Both current owners were trained in standard acupuncture and traditional Chinese medical techniques. One also utilizes a combination of distal points and Tung-style acupuncture for orthopedic complaints, relying on classical theory for internal medicine treatments. The other owner integrates Chi Nei Tsang and Yin Tui Na with her fertility and digestive disorder clients while employing a very different and more modernized trigger point and anatomy-focused approach to pain and orthopedic patients.
- Patients are occasionally prescribed Chinese herbal medicines, and some receive supplements, vitamins and/or CBD products.
The following income and expense summaries are derived from an average of income and adjusted* expenses from 2017-2019.
- Average gross yearly revenue (3 years): $180,000+ ($15,000+/month)
- Average adjusted expenses: $69,359 yearly ($5,780/month)
*Adjusted expenses are the net expenses that a new owner would have to take on in order to run the business at the same level of revenue as the current owner. Thus, elective variable expenses such as continuing education, transportation, licenses and fees, etc. are removed from gross expenses to calculate adjusted expenses. Take-home pay for the owner is included in adjusted expenses at the same level the current owner is paid.
- Average $110,703 per year (~$9,225/month).
$97,500 $82,500 OBO.
- The price is based on a conservative professional valuation of almost $125,000, with an average yearly gross of about $180,000 for the past few years.
- The owners’ motivation to sell in a timely fashion has allowed them to generously factor in a discount of over 35% off of the valued price for potential attrition and start-up costs on change of ownership. They expect the right person will retain their patients and transition smoothly, making this a great opportunity for the buyer.
- The purchase will be structured as an asset purchase agreement and may be drawn up between buyer and seller (preferred) or by attorneys, at the discretion and by agreement of both parties.
- Approval of the buyer is subject to a credit check, and loans from medical practice brokers, banks, or the Small Business Administration (SBA) may be available to finance the transaction depending on the buyer’s creditworthiness.
- The seller may also be willing to hold the loan given a down payment from the buyer and a good credit history.
- Upon purchase, the new owner will receive all patient records and equipment, in addition to any supplement inventory.
- The current owner will also transfer to the new owner all clinic-related intellectual property, including the clinic phone number, website, claimed Yelp page, Facebook page, Office Ally EHR and billing system and clinic-related financials.
- The landlord is willing to transfer the lease and the current owner will facilitate interaction with the landlord in order to secure favorable lease terms.
- The current owners’ goal is to surrender the practice by the end of 2020. They would be willing to stay on for a limited time to train a new owner in their techniques and to assist in the transition, if so desired by the new owner, at no additional cost.
While the current practice nets a healthy return, a motivated buyer could significantly increase his or her income upon acquisition through a number of simple changes.
- Work more hours. The current owners spend a lot of their time playing outdoors. Though the current owners have office hours four days per week, there is plenty of room to work more hours in the clinic, which would obviously increase revenue.
- Add additional practitioners. The current practice rents space to a successful massage therapist. In addition to or in lieu of working more hours, the practice could easily support more providers as independent contractors or as employees during the times when one or more of the five available treatment rooms are unoccupied.
- Expand rooms. The landlord allows renting additional (or fewer) treatment rooms, allowing you to expand (or contract) your practice as needed.
- Accept insurance. The practice is proud to be a low-maintenance, mostly-cash practice. An enterprising new owner could certainly attract more business by accepting and billing more insurance.
- Do some marketing. The practice does very little marketing outside of its web presence. Existing patient information could be used for marketing directly to current and former patients, but the clinic has been busy enough that these resources have not been leveraged. Doing any kind of additional marketing would create more opportunities for an increase in new patients and a return of pre-existing patients.
- Improve online presence. The current owners have been successful without putting too much effort into creating an online presence. Blogging, improving the website, paid online marketing, and doing some email marketing all hold great potential to improve awareness of the clinic in order to generate more revenue.
- Sell more supplements. Only about 30% of patients currently take a limited smattering of herbal medicine. Giving a greater percentage of patients the option of supplements offers another opportunity for increased revenue.
Pictures of the office
The Alphabet District and Nob Hill sections of
Northwest Portland are the places to live if you’re seeking a true urban lifestyle. Young singles,
couples, and families choose this neighborhood for its wealth of shopping, restaurants, and
transportation options. Out of state transplants are particularly prevalent. Although formally
named the Alphabet District, this section of Portland is also known as Nob Hill after the famous
San Francisco neighborhood.
The northwest section of Portland was planned and developed by Captain John Heard Couch.
Couch was an accomplished seafarer who also started Oregon’s first newspaper, The Spectator.
Couch’s naval background led him to believe that the intersection of the Willamette and
Columbia Rivers would one day become a great commercial center, surpassing then-rival
Oregon City. Couch’s decision to found the Lovejoy-Pettygrove land site was a key milestone in
early Portland history. Couch is the one who laid out the streets of today’s Northwest Portland
with the letters of the alphabet into what we now know as the Alphabet District. The streets were
originally known as A Street, B Street, etc. from 1865 to 1891 when the streets were given their
current names. Fans of The Simpsons television show will recognize the names of several streets
in the Alphabet District like Flanders and Lovejoy. The main thoroughfare, Burnside, was
perhaps an inspiration for Oregon native Matt Groening’s Mr. Burns?
Northwest Portland contains much notable
architecture including the Temple Beth Israel, Trinity Cathedral, and family dwellings from
some of Portland’s earliest elite residents. There are a large number of apartments here; many
were built in the first half of the 20th century. Period details have remained largely intact on the
older buildings. This neighborhood has the highest population density in the city. Home styles
include many Victorians and luxury condos. There are fewer acres of parks here than other areas
of Portland, but this area is closest to one of the largest urban parks in the United States, Forest
Park. Proximity to the Oregon Zoo, the International Rose Test Garden, and the Japanese Garden
are also benefits of living in Nob Hill and the Alphabet District.
Northwest Heights is the neighborhood in the hills just above NW 23rd Street. This cluster of
houses is primarily owner-occupied (95%) and the public schools are exceptional. Home prices
have risen almost 60% over the last five years. The incline up to these homes is steep and streets
are narrow. No bus routes drive into these hills, so having a vehicle is essential.
The shopping districts along Northwest 23rd and Northwest 21st Streets are the most popular in
Portland. People from around town and in the suburbs flock here for and upscale shopping
outlets like Eclectic Home, Gilt, and Williams-Sonoma. Many of Portland’s independent high
fashion boutiques are located along NW 23rd.
Food & Drink
People from the city and suburbs flock to notable area restaurants like Papa Haydn St. Jack, and
Ataula. If you’re looking to grab a drink after work check out Muse Wine bar, Fireside,
and McMenamins Tavern & Pool are all great spots to catch up with friends and
coworkers. Ken’s Artisan Bakery is a can’t miss spot along NW 21st. (Monday’s popular pizza
night inspired Ken to open Ken’s Artisan Pizza on the eastside of Portland.) For dessert head on
over to the famous Salt & Straw for some ice cream, but be prepared to wait as there’s usually a
line. Within the neighborhood, but off the beaten path, those in the know visit Saint Cupcake for
delicious cupcakes and World Cup Coffee & Tea for outstanding coffee. Neighborhood markets
include Trader Joe’s, Zupan’s, and Whole Foods.
During spring and summer, sports fans flock to
Providence Park, just off Burnside, for Portland Timbers and Portland Thorns games. Theatre
lovers attend performances at Artist’s Repertory Theatre at SW 15th & Morrison. Cinema 21
shows art house and classic films like Singin’ in the Rain or this year’s Oscar Best Picture
Street parking in Northwest Portland is difficult, but not impossible. Off street parking is a
valuable commodity for both homes and condos. At Northwest 23rd and Irving, a developer has
proposed building an 87-spot parking garage. Chapman Elementary is rated as strong by the
Oregon Department of Education. West/East Sylvan Middle School and Lincoln High School are
also rated as exceptional. Multnomah County Library opened a branch at NW Thurman and NW
23rd in 2001. The library has many programs and materials for children including specialized
events for teens, toddlers, and pre-school students. The good news is that living in most of
Northwest Portland without a car is more than feasible. Public transportation to and from here is
fantastic. The Portland Street Car, MAX Light Rail, and several bus lines serve the
neighborhood. Getting to downtown Portland takes mere minutes. Driving to the Portland
International Airport clocks in between 20 and 30 minutes depending on time of day. The
neighborhood benefits from being relatively close to area freeways without the noise and hassle
of being too close for comfort.
Things to Do Outdoors in and Around
Here are some of the most popular active outings in the Portland area.
By: Brian Stevenson
Blanketed across the confluence of 2 majestic rivers and within an hour of both the Pacific Coast
and Cascade Mountains, Portland and its lush environs have something for nearly every lover of
Hardcore funhogs can snowboard and run whitewater on the same day almost any time of year
and still be back in the city for dinner. More contemplative types might prefer a hilly amble
through Portland’s urban, but seemingly boundless Forest Park. Anglers can drop a line for wild
salmon where the placid Willamette River runs beneath downtown bridges. There’s surfing at the
coast, kite-boarding on the Columbia, and miles of bicycling on non-vehicular paths. Rock
climbing, golf, skate parks, birding; you name it and you can find it somewhere in or close to
Here are some of the most popular active outings in the area.
1. Ski and Snowboard Mt. Hood in Winter and Summer
Timberline Lodge, Mt. Hood, Oregon
Iconic Mt. Hood stretches high above the surrounding hills east of the city. An hour or so in a car
or bus can get you to 1 of the giant volcano’s several alpine ski resorts.
Mt. Hood Meadows Resort has the edge on winter terrain. Timberline Lodge is the only place on
the mountain where you can still ride lifts to ski and snowboard in the heat of summer. Mt. Hood
Skibowl is the largest night skiing resort in the country. And, there are plenty of places to seek
out backcountry ski terrain for those qualified to do so. Visit fs.usda.gov/mthood for more
information on backcountry skiing (and other activities).
2. Kayak Downtown
See Portland’s skyline in relative solitude by kayaking the broad Willamette River through
downtown. Few large vessels ply the city center waterway; most ships and barges never venture
past the commercial ports downstream. Instead, you may share this section of river with a couple
of colorful Dragonboats (large paddle-powered race boats with Chinese-influenced serpent
designs) or an occasional sailboat. Rent kayaks from Portland Kayak Company or Alder Creek
(Alder Creek rents stand up paddle boards too). In summer, Portland Kayak Company runs
guided kayak tours a couple miles upstream from downtown where you might see great blue
herons, bald eagles or osprey in the Oaks Bottom Wildlife Refuge.
3. Hike Forest Park
You don’t need to leave town for a hike through shadowy, towering stands of Douglas fir,
hemlock and western red cedar trees. Portland’s nearly 5,200-acre Forest Park boasts more than
80 miles of trails, which are accessible from more than 2 dozen trailheads. Most of the trails are
interconnected via the park’s 30-plus mile sinuous Wildwood Trail. Skip out of trendy NW 23rd
Avenue, walk a few blocks west to the entrance of Lower Macleay Trail. Follow the shady trail
up crystal clear Balch Creek. You’ll never know you’re still in the city. Another option is the
Maple Trail, festooned with its namesake trees along with red alder, sword ferns, and Oregon
4. Visit “The Gorge”
As the last of the metro area disappears from your rear view mirror while driving east on
Interstate 84, you’ll be dwarfed on your right by the steep cliffs and promontories of the
Columbia River Gorge. Take exit 22, snake up the hill to the town of Corbett, then head east
(left) on the narrow Historic Columbia River Highway. The old 2-lane road provides access to
short trails which pass beneath multi-storied ribbons of free falling water and to arduous daylong
treks that reach sweeping vista points high above the river. If time is limited try the 2 1/2-mile
loop hike to misty Latourell and Upper Latourell Falls. A few miles farther east on the road will
get you to the trailhead for a hike up the scenic Wahkeena Trail to Devil’s Rest. You can marvel
at expansive Gorge views from several points along the trail. Contact US Forest Service officials
at the Columbia River Gorge National Scenic Area for information on routes and trail closures.
5. Run the White Salmon River
The dog days of summer send people searching for fun ways to cool off. Just an hour and 20
minutes east of Portland, southern Washington State's cool, spring-fed White Salmon river
provides relief in the form of snappy, adrenaline pumping rapids for rafters and kayakers. The
river rushes swiftly through a narrow and tight black lava canyon. There’s just enough sun in the
shady chasm to warm you up between the class III and IV rapids, which come one after another.
More intrepid paddlers can opt to run the frothing 10-foot-high Husum Falls. Wet Planet and
River Drifters offer commercially guided 1/2-day and full-day raft trips from April to October.
6. Bike Sauvie Island
Tim Jewett /TravelPortland.com
The gentle bucolic landscape of this island at the confluence of the Columbia and Willamette
rivers provides tranquility for road cyclists. Families and racewear clad peddlers flock to the
island on warmer days. A 12-mile long loop on the island’s south end is the most popular but
you can find greater solitude on the much longer Reeder Road loop. This route follows the
Columbia for quite a way. If it’s a clear day you’ll see the Cascade Mountains in the distance and
you may see eagles, osprey and other wildlife. If you’re driving to the isle from Portland, take
highway 30 west to the Sauvie Island Bridge. Pick up a parking permit, riding directions, and a
map from Cracker Barrel Grocery just north of the bridge on the island side. You can also get
parking permits and information from the Oregon Department of Fish and Wildlife.
4 Must-Try Portland Brunch Spots
Dishing up a lot more than just bacon and eggs.
By: Jeremy Pawlowski
Portland takes its brunch very seriously. Take a look at any restaurant on a Saturday or Sunday
morning and you’re bound to see a line of hungry people milling around the sidewalk out front.
Even the rain won’t stop diners from waiting to get a taste of the inventive dishes being served
up at the hotspots listed below.
This “restaurant” doesn’t even have it’s own building to call home, but on Saturday and Sunday
mornings Hunnymilk takes over a local Italian eatery and cooks up some of the best brunch in
town. Brandon and Alex, the minds behind Hunnymilk, cook up their ideas in a test kitchen and
then offer them to the public on the weekends. The concept is simple, for $20 you get one
beverage, one savory dish, and one sweet dish. The focus is on inventive takes on a few classics
along with imaginative new dishes you’ve probably never seen on a menu before. Crowd
favorites include crispy pork ribs served over cheesy grits, and the carrot cake waffles dipped in
Light, bright and playful is the best way to describe the atmosphere at what is quickly becoming
one of Portland’s hottest restaurants for brunch. Known for their locally- sourced,
Mediterranean-inspired, award-winning dinner menu they also offer the same in brunch form on
weekends. The flavors of the Pacific Northwest really get to shine at this restaurant as they focus
on vegetable-based dishes. In addition to their amazing food, they also offer up creative brunch
cocktails. The Eastern Maid for example is made with vodka, lemon, celery seed, hazelnut, rose
water, and yogurt. Tusk prides itself on only cooking with what’s in season so the vegetablecentric
dishes are constantly changing, meaning no two visits will ever be the same.
If you’re anything like me the closest you’ve ever come to Scandinavian food is the meatballs at
Ikea. So sitting down at Broder can be a bit intimidating. The menu is full of items that you can’t
pronounce, but this Swedish cafe has become a Portland staple, and for good reason. Pytt I
Panna, a Swedish hash, combines potatoes, soft baked eggs, peppers, onions and smoked trout to
create a delicious breakfast skillet like you’ve never had before. And make sure to try the
Aebleskivers, a small round Danish pancake that comes served with homemade lemon curd and
lingonberry jam. With food as delicious as Broder’s lines can get quite long here on the
weekends, but you can get right in on a weekday morning.
4. Hazel Room
Located in a 100-year-old house and adorned with antique furniture and art the Hazel Room is
sure to end up as one of your favorites before you even take a bite of their food. Make sure to
bring your appetite as you dig into to their slow-cooked pulled pork hash, biscuits smothered in
famous red gravy, and the deliciously sweet gluten-free coconut cardamom french toast. And
save some room for a slice of their homemade pie!
More Portland Food to Try
5 Delicious Donut Shops in Portland
Satisfy your sweet tooth in the Rose City.
Top Portland, Oregon Food Trucks
Take advantage of this rare opportunity to take over an amazing Chinese medicine practice in Rapid City, South Dakota. Fill out the contact form below, call (831) 239-5878, or click here to email us today.
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