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High Growth, Profitable Medical Supply Business For Sale

Vancouver Island, British Columbia
Asking Price:
$250K - $500K (CAD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$500K - $1M (CAD)
Cash Flow:
$250K - $500K (CAD)

This business has heart. For 16 years, this incorporated company has served the medical needs of the fast-growing aging 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 repeatedly 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, and 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 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 a few 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.

Property information

Real Estate:

Lease

Location:

The business is located in Canada's most desirable area to live, with a mild climate, beautiful natural surroundings, low crime, and many amenities. For many Canadians, this area is their retirement dream, so a business serving seniors is a perfect fit.

Premises Details:

Location has retail outlets in good-sized cities on Vancouver Island. Buildings are prominent and on high traffic roads with available parking. The properties are not included with the business but there is an option to purchase if desired.

Business Operation

Expansion Potential:

This business serves a growing demographic of elders, so there is potential for increasing the number of retail outlets in communities that are drawing retirees. At present , only 10 per cent of sales are national and placed through the website but this sales venue could be expanded.

Competition / Market:

There are three competing companies in the region selling similar equipment. Two have single retail outlets on the island. One has five outlets on the island.

Reasons for selling:

Changes in lifestyle, with one of the current partners moving on to different interests and the co-owner living remotely and not able to move.

Trading hours:

9 to 5 pm, Monday to Friday

Employees:
4
Years established:
16 years

Other Information

Support & training:

The new owner(s) will acquire an active business with potential for growth plus experienced staff able to operate with minimal supervision. Therefore, the owner will have the advantage of being actively involved in the business or not. One of the current owners will help with training during the transition.

Furniture / Fixtures value:
$75,000 (CAD) - included in the asking price
Inventory / Stock value:
$97,500 (CAD) - included in the asking price

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