Sale of furniture store Target is on the table
Furniture chain Target is seeking a new owner for its store in Wairau Valley, on Auckland’s North Shore.
The franchise operation has seven shops nationwide and is taking on the New Zealand furniture industry with its state-of-the-art distribution centre and tech-focussed systems.
Current owners of the Target Furniture North Shore shop have been in the business for 26 years and are wanting to retire.
With turnover of $5m and SDE (Sellers Discretionary Earnings) of $400,000, a new owner could take an already profitable business to the next level.
To assist with this, the owner has introduced new systems to lift business profits with better stock mangement and delivery, problem solving and staff training.
The Target support office is housed alongside its distribution centre at East Tamaki. Here, a
new owner for the North Shore store will receive guidance in all aspects of the business as well as ongoing support. In-house photography, advertising, management of the Target website, IT, staff training, human resources support and a dedicated retail general manager are also housed at this site.
As well as hands-on assistance from the support office, each franchisee is also supported by an extensive toolkit of in-house electronic and custom solutions. Help is only ever a phone call or an email away.
Sound, well-priced businesses of this strength rarely come onto the market and Target Furniture North Shore presents an exceptional opportunity for someone with an understanding of retail, sales and marketing.
With a strong cash flow it is expected a cash surplus of around $200,000 after the first month of trading will significantly reduce the actual working capital requirement.
Target Furniture North Shore employs 10 people, some of whom have worked in the business for more than 10 years.
Eight full-timers and two parttimers have the skills to keep the business operating with the current owner there about 50 per cent of the time.
Since its inception in New Zealand some 30 years ago, the Target brand has evolved and updated with world trends and now commands a strong place in the affordable, quality furniture market.
A dedicated team from the support office travels the world seeking the best quality, styles and pricing for the New Zealand market.
The Target range is largely exclusive and about 25 per cent is made in New Zealand.
Target Furniture is also completely New Zealand owned and operated. Heading up the franchise is second-generation retailer Rob Bielby, who has taken over from his father, Monty, who began selling furniture in some 40 years ago.