Buy A Business specialist retail perth

Errol Du Boulay

Business Overview

This business is a Perth institution. The shop is recognised by those who appreciate quality products as being ‘the place to go’. As such it is a shopping destination that attracts people from a wide catchment area. It is certainly not dependent simply on passing trade. The store has a broad and loyal clientele and has remained dedicated to being a specialist retailer for twenty seven years. The owners have always resisted the temptation to dilute their core business and, over the years, this has proved to be the right decision.

The business model has always been based on specialisation, quality products, superior product knowledge, a long-standing reputation for service and the ability to source and embrace new trends and products within the niche market it serves.

The business was founded in the early 1980’s and has been run as a family business ever since. It was Perth’s first niche specialist business of its type in Perth. The shop has always been at its current premises but quickly outgrew them. Subsequently after 3 years the business expanded to take over the adjacent shop doubling its floor space. It has remained an institution in that location ever since.

Business Description & Operations

This business is a specialist retail store catering for a diverse range of customers who are enthusiastic or passionate about entertaining. Like most retail outlets operations involve ordering stock, displaying it in store, selling, providing advice to customers and the usual administrative duties such as accounts, salaries, stock taking, banking etc.

The business has always run under management with the owners overseeing purchasing and staffing. This has enabled the owners to increase or decrease involvement as they require. It has also given them the opportunity for extended periods of leave. Over the years the current owners have developed a great understanding of the products use cycle and have been able to take advantage of seasonal trends and tailoring purchases and volumes to specific events such as Mother’s Day, Father’s Day, Easter, and of course the Christmas trade.



Products & Pricing

The business has serviced its customers in Perth for 27 years and takes pride in its outstanding selection of and range of products which includes gadgets and outdoor entertaining products. The business is an authorised dealer for leading electrical brands.

Customers

The typical customer is quite sophisticated, well informed and well travelled. The vast majority are women who entertain, subscibe to food magazines and appreciate good quality. They are very loyal. There is a very broad age range from 25 to 80 and the customer base has become particularly intergenerational. They are grandparents and parents who are adventuous in their creative skills but also traditional in that they make things in a homely way. They are generally from the western suburbs, they have boats and holiday houses and regularly update their homes and household equipment.

A large proportion of the customer base is made up of mothers with young families. They are sophisticated with what they do but are also after products for their children, birthday ideas and things for school. Before Christmas customers from all over Perth visit the store.

The business has regular overseas, interstate and country customers as we've become more of an institution and a destination shopping experience rather than a place to 'just' buy a particular product.

Employment & Personnel

The business operates with two full time staff supplemented with three or four part time/casual employees. This provides maximum flexibility throughout the year and the covers the extremely busy Christmas period.

Owner’s Duties

The owners are responsible for wages and staff rostering plus overseeing purchases and looking out for new core products.

These duties currently occupy approximately 18 hours per week and could easily be incorporated within existing staff. Although no specialised knowledge is required, some experience of retailing and an interest in the products and craft would be useful.

Staff Levels

The business has 2 full time employees and 2 part time employees. Staff perform general shop duties including unpacking and displaying stock and, of course, making sales. Present staff have been extremely loyal but they could be replaced easily should they ever leave. The manager assists with purchasing and visual merchandising and is also responsible for the tills and banking but could be replaced with minimal training.


Key features over other businesses

"The above purchase price represents excellent value….
…. when comparing the features of this business with other businesses”

• LARGE PERCENTAGE OF C.O.D BUSINESS
At least 80% of business is cash based. The rest is on 7 day terms. This ensures excellent cash flow and minimises working capital.

• PROFIT BASED ON OWNERS WORKING ONLY 18 HOURS PER WEEK
The current owners’ involvement could be incorporated into the duties of existing staff.

• BUSINESS OPERATES UNDER MANAGEMENT
The business already operates successfully under management and there is no reason to change this format.

• NO SELLING REQUIRED
This is a very popular and well established retail outlet where most sales are simply self-propelled.

• PROFITS CAN BE PROVEN
The business has a complete set of verified accounts which clearly show its
profitability.

• LONG-ESTABLISHED REPEAT CLIENT BASE
The business has family-based customers who span three generations. It is not reliant on agencies or a few large clients, thus offering excellent stability.

• WELL TRAINED STAFF, EASILY REPLACEABLE
The business has enjoyed a outstanding employee loyalty with minimal turnaround of staff. Having said that, staff could be replaced easily and quickly with the minimum amount of on-the-job training.

• SECURE SUPPLY ARRANGEMENTS
The store has dealt with many of its suppliers for 27 years. It is an authorised dealer for a number of very popular brands. Over the years, the business has gained the respect and support of key suppliers.

• LONG ESTABLISHED REPEAT CLIENT BASE
Not reliant on agencies or large clients, reflects a lower than normal risk factor.

• PREMIUM LOCATION
The business is located in a ‘high street strip’ rather than a shopping centre and is therefore highly visible. This also means that the store is independent and not subject to centre opening times, exponential rent rises or refit requirements. Being in one of Perth’s wealthy suburbs is an additional bonus.

• BOATING SPECIALISTS
The business is recognised as the specialist in the supply of quality outdoor
products for boating enthusiasts.

General Business Details

Business Trading Hours

Monday – Wednesday: 9.00 am to 5.30 pm
Thursday: 9.00 am to 9.00 pm
Friday: 9.00 am to 5.30 pm
Saturday: 9.00 am to 5.00 pm
Sunday: Closed
Christmas trading hours are at the discretion of the owner and may