Summary
Canberra Workwear, amazing profits combined with a great name in two perfect locations, ticks all the boxes.
Potential
The Gungahlin store has experienced incredible growth in the last 3 years while the Belconnen store has increased turnover during some pretty trying times for retail. There are many more locations throughout Canberra that could support another store. The options are vast.
Reason for Sale
The owner has had this business for more than 20 years and now is the time to move onto life’s next adventure.
About the Business
Canberra Workwear is a fantastic Canberra success story. Starting out with the one store in Belconnen, the business has grown and developed greatly over the last 20+ years. A second store was opened in Gungahlin and both businesses are thriving.
Canberra Workwear offers a great range of products from Corporate wear, Industrial workwear & boots, Team wear and Hospitality industry clothing and shoes. On top of the retail range embroidery and screen printing services are also available.
With turnover nearing $2 million between the 2 stores, this is one extremely resilient business that has not only survived fires, COVID and lockdowns, but actually thrived.
An enormous advantage Canberra Workwear have is they are part of an exclusive buying group providing great discounts across a range of suppliers adding profits straight to the bottom line. The buying group also hold annual conferences in amazing locations such as Port Douglas, Tasmania, Fiji etc. The owner, along with other members, also went on a work trip to a trade fair in Germany, all tax deductible.
A business capable of not only surviving during the extreme adversity, we as a city have faced over the last four years, but actually thriving is remarkable. The latest wobble for small business has been interest rates, incredibly, the turnover for the first 6 months of the financial year has increased. This is an extremely resilient business.
What would it take to be the new owner of Canberra Workwear? $650,000 plus stock at value will secure this incredible opportunity. For more information, please call Andrew from Summit Business Brokers today on 0418 676 400.
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