As we reflect on 2024 and look ahead to the upcoming year, I’d like to share a summary of our business performance and achievements over the past year. While we faced a slow start with lower-than-expected revenue, we successfully navigated through the first half of the year and finished strong, coming close to meeting both our annual revenue and profit targets. Despite encountering several challenges, we were able to overcome them and make significant progress.
Celebrating Key Wins from 2024
Key accomplishments include achieving our MNSHARP Certification, which underscores our commitment to maintaining a safe workplace and adhering to safety regulations and protocols. Additionally, we hosted a highly successful summit for our dealers, providing them with valuable training and insights on our equipment. We also introduced new labor tracking procedures, enhancing our ability to monitor costs more effectively. Our media and compound sales exceeded expectations, thanks in large part to our proactive customer outreach efforts. Furthermore, our sample processing lab experienced its busiest year to date.
Launching our 3-Year Strategic Plan
As we step into 2025, our goals are set even higher. This year marks the beginning of our 3-year Strategic Plan Initiative. Over the next three years, MFI aims to drive business growth by introducing new product offerings, leveraging our intellectual property, and utilizing our capabilities to expand market share in the tumbling industry. At the same time, we will continue to prioritize quality and customer service to strengthen our existing customer relationships and foster a dynamic work environment for our employee owners.
Key initiatives for 2025 include:
- Launching a Machine Refurbishment Program
- Expanding our footprint in the Dental Industry through our “Bringing Back Denta2000” campaign
- Broadening our international presence
Honoring 30 Years of Innovation
Additionally, 2025 marks a significant milestone as MFI celebrates 30 years in business. Stay tuned for our “30 for 30” LinkedIn posts, where we’ll highlight the history and evolution of MFI over the past three decades.
In closing, I would like to extend my deepest thanks to our customers, vendors, and – most importantly – our employees for their unwavering support, hard work, and dedication.
Best Regards,
Marci Theisen
MFI General Manager