This business has heart. For 16 years, this incorporated company has served the medical needs of the fast-growing senior demographic on Vancouver Island with products and product maintenance. Well-established, with two large retail showrooms, the company has built an enviable reputation for customized service that cares for the client.
In 2018, the business recorded $737,000 in sales and a gross profit of $452,000, with a net benefit to the passive owner in excess of $130,000. The business has recorded consistent sales over the past four years.
One unique aspect of this business is the opportunity to make substantial improvements in people’s lives. The business provides personal support and care products that help maintain independence, so individuals remain in their homes longer while enjoying a higher quality of life. Because of this commitment to care, clients return year after year as their needs change, or additional support services are required as they age, or alternate services and equipment is required.
This business is perfectly positioned to serve the specified demographic already living on the island and the tsunami of retiring baby boomers projected to settle on Vancouver Island in the next two decades.
Advertising for the business is intelligently targeted. Online the business is promoted via Google advertising, a monthly blog, a website, and a newsletter featuring information of interest to the target demographic.
One of the company’s most successful advertising venues to showcase the products and give the clients hands-on experience of how the products can improve their lives. The company also displays their products at events targeted to baby-boomer-age adult children; at home shows; and in displays at local fairs.
There are only three other companies in this sector that serve an overall island population of just under 800,000 as of 2018. Of those, approximately one-quarter – an estimated 198,874 as of 2019 - fall in the target demographic. Additional clients are those in need medical support equipment or consumable products when recovering from surgery, an injury, an illness, or living with a disability or chronic illness.
Although this generation can be computer savvy, they appreciate personalized service and human contact. This business is poised to provide that, with retail outlets within two hours’ driving distance of most island residents. The preference for in-person service is seen in current sales: at present 90 per cent of sales are in-person and 10 per cent are via the website.
The new owner(s) will acquire an active business with potential for growth plus experienced staff able to operate with minimal supervision. The sale includes $175,000 in assets (FF&E and Inventory). The current owner will assist with senior management training during the transition.
Lifestyle is another advantage. At present, the business is active in two waterfront communities. Both boast Canada’s best climate, beautiful scenery, good schools, substantial community amenities/retail outlets and recreational options.
For more information on this opportunity, contact Michael Naprawa.