Sydney based iconic brand furniture retailer with 30 years of successful trading.New Listing.

Sydney based iconic brand furniture retailer with 30 years of successful trading

• This famous Sydney-based furniture retailer has been successfully trading for over 30 years. With two large retail outlets across Western Sydney and one on the Central Coast of NSW, the turnover for the last 4 years was between $21 and $27 million.
• By offering value and service in the bottom to middle end of the furniture market, this well-known business has popular appeal. Equally important, the business has continued to develop over more than three decades by adapting to market conditions and seizing opportunities.
• Over the last 20 years this business has been a member in a buying group of six members with more than 50 retail stores across Australia and New Zealand. Together this group has formidable buying power, outstripping any of its competitors and resulting in higher margins and greater profits.
• By strategically investing an estimated $30 million in advertising, primarily television, consolidated with metropolitan and local press, radio and catalogue distribution, the business has built up an iconic brand status throughout the state of NSW.
• There are several strategies to grow this business from its rock solid base. The business currently services approximately 20% of the Sydney metropolitan market, limited by the number of stores. With a further 4-5 new stores; a saturation reach into the market could be achieved, laying ground for further expansion into NSW where the brand recognition is equally substantial.
• The present, in-house computer system is tailored to the business and coordinates the business from the point of sale to ordering from suppliers, to following up orders and sending SMS notices to customers. The accounting system used is MYOB Premier and with further expenditure on the system, customers could shop online to further increase turnover.
• There are two key staff members in place that are highly competent and would be willing to assist over a transition period. As well, there is staff with comprehensive knowledge of the business who come highly recommended in the financial and buying responsibilities and staff management.
• This business sale represents a rare opportunity to continue to grow the legacy and success of this blue chip investment with high net profit and is a highly regarded Sydney-based institution.

Code NB10-018

Asking price: $15 Million + SAV + Freehold Optional