Amid rising interest rates and growing economic uncertainty, global franchise pool servicing brand, Poolwerx is offering Australians the opportunity to begin a new business venture by facilitating independent pool store acquisitions.
The matchmaker program involves facilitating conversations with existing or emerging franchise partners who take over the established bricks-and-mortar stores. While the program benefits independents looking to sell, it also offers opportunities to franchise partners to expand their current footprint or immediately progress from mobile operations to a retail offering.
Poolwerx CEO, Nic Brill expects this type of acquisition to become more popular as franchise partners seek immediate economic growth by taking over an established retail store.
“While Australia is experiencing turbulent economic conditions there is still an appetite for business growth and Poolwerx is seeing increasing interest for established retail opportunities with the support of the Poolwerx network,” he said.
“It’s a win-win for parties, with eager franchise partners transitioning into an established retail store with an existing clientele, while independents are afforded a smooth selling process all while maximising value.
“Franchising is often viewed as a recession-proof business model due to smaller outlets having the support of a large national or international network, with the pool and spa industry less volatile due to the nature of products not able to be ‘turned off’.”
Clarence Valley franchise owner, Shauna Brigden started with Poolwerx in June 2022 and after a successful retail pop up, Poolwerx helped facilitate an independent store acquisition that allowed for entry into retail.
“My husband and I started with Poolwerx as mobile-only after seeing how underserviced the Grafton area was. We decided to trial a pop up at the local shopping centre and due to such high demand, the temporary shop lasted five months and we knew we needed something more permanent,” she said.
“An independent store became available for sale which was attractive to us because it was well established with a great local reputation which kept foot traffic high and the existing clientele remained loyal. Within 10 months we had 110 regular monthly clients and a further 150 ad hoc clients per month, which is just phenomenal, we were so surprised and humbled by the response.”
One of Poolwerx’ longest serving franchise owners, Tim Oldfield said they will always try to acquire independent pool stores when the opportunity arises because it’s a better investment with faster returns, compared to opening a greenfield site.
“Taking over a competitor means you have immediate sales and immediate jumps to the bottom line, there’s no slow build up, so when you’re looking to invest $200,000, an acquisition is a better investment,” he said.
“But sometimes you need to open greenfield sites to fill a gap in the market which is why our footprint is a mix of both types which has created a solid network that services a really important area. Poolwerx found the leads and presented them to us and helped with the financial process but without their support the acquisition rollout would have been a lot more challenging.”