Internal Ref: RN 652
Summary
Specialised and destination retailer primarily focused on the Heavy Metal, Hard Rock, Classic Rock and Punk genres that has been operating since 1978. Online sales represent 60% of sales and growing.
Location Details
Retail store in Sydney plus online store
Potential
Huge growth potential from exports, extension of the product range, more involvement in festivals and fairs.
Good reputation in the industry can be leveraged to take on new and related products.
Buying trend for music and merchandise products will continue to shift from bricks and mortar to online and this business is well placed to take advantage.
Analytics-based targeted marketing strategies.
Expand social media footprint and marketing efforts.
Skills
A knowledge of the music industry is an added advantage although the business does have an experienced manager in place.
In addition online markting skills are important
Hours
Retail store is open 7 days per week
Lease
4 years
Employees
9
Reason for Sale
Retirement
About the Business
Specialised and destination retailer primarily focused on the Heavy Metal, Hard Rock, Classic Rock and Punk genres that has been operating since 1978.
There are three major product segments, which are Vinyl Records, Compact Discs and Band Merchandise. There is a Sydney store as well as an online store with significant Social Media engagement through Facebook and Instagram. There are 25,000 active customers on file who have purchased from the business in the last 12 months with many repeats. As a destination store, a significant amount of business comes from intrastate, interstate and overseas customers.
There has been sales growth in each of the past 16 years and sales for the current year to date are approx. 12% above the comparative sales figures in the previous year.
Several significant sales growth opportunities are yet to be realised, including export, product range expansion, festivals and fairs, etc. Excellent gross margins.
There are 8 Full Time Staff, including a Manager, and 3 Casual Employees. The store has been situated in the current location since September 2010.
History
This business has been operating since 1978 and is extremely well-known in the music industry.
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