Our Home Pharmacy
Craig Hyatt always wanted to own a business. After graduating with a pharmacy degree from Auburn University, he worked for CVS for 17 years before deciding to open an independent pharmacy. In 2010, he and his wife, Samantha, opened Our Home Pharmacy in Auburn.
In 2017 they contacted the Alabama SBDC at Auburn University to assist with an SBA loan to purchase the building that they had been leasing. By 2021, they had outgrown their existing space. They found a new location just down the road, less than a quarter of a mile away. The Hyatt’s again reached out to the SBDC to assist them in putting together a loan package to purchase and renovate the building for a pharmacy, coffee shop, and retail items. They moved into their new location in the fall of 2022.
Our Home Pharmacy’s greatest challenge is outside competition from insurance companies and employers in the area. Insurance companies force a substantial portion of their clients to use mail-order or retail stores that are owned by their corporations. Employees at these corporations usually cannot offer personalized attention to every customer. Our Home Pharmacy aims to provide each customer with individualized care, exceptional service, and reasonable prices.
Despite these hurdles, the pharmacy has become a significant employer in the area, hiring college students, college graduates, and those that have no desire to go to college. Due to insurance reimbursements, they have provided many medications to people below purchase price.
Our Home Pharmacy’s customer-focus and friendliness have aided in making repeat customers. They started with nothing; now they have 19 employees and provide pharmacy services for more than 4500 people.
Craig remarked, “Thank you for your help along the way and for this opportunity to share about what the SBDC has to offer small businesses.”