Active Home Medical Supply
For many, COVID-19 was a time of personal reflection. For Stacey Fike, that reflection resulted in retiring from her big company job to buy a small business. She took two years to research her options, and when given the right opportunity, she seized it by expressing an interest in purchasing Active Home Medical Supply.
Stacey recognized the growth potential of the healthcare category, but was unsure of how to evaluate whether or not the purchase price was a good deal – much less how to finance and run the business. She reached out to the Michigan SBDC for counsel and was connected with Senior Business Consultant Harry Blecker, who reviewed and helped develop her business plan and cash flow projections. Business Growth Consultant Mike Gay assisted with strategic planning overview and valuation calculations.
Active Home Medical Supply is now both a physical storefront and an e-commerce store, offering home medical devices and supplies that are usually prescribed by a patient’s doctor: CPAP, diabetes, bath safety, diagnostics, ambulatory and mobility, incontinence and aids for daily living.
According to Stacey, the hard up-front work paid off. “In three years we’ve tripled revenue and are now up to 10 on staff. Of course revenue growth is a key measure of success, but there’s so much more. I used to dread going back to work after a week off, but now I can’t wait to go back.”