The Deniliquin Mitre 10 is a mature retail business with considerable upside potential. The owners have focused on superior customer service and a product range to satisfy the local population, including trades and farmers.
The current owners have been quite entrepreneurial in the product offering. As an example, in one corner of the store is a bicycle sales and service section – not large, but servicing the town after the local bicycle store owner decided to retire and close his store. Similarly, the plant nursery section of the Mitre 10 is effectively a monopoly in the surrounding footprint and is constantly stocked with a very large range of quality plants to serve the town.
This business would be ideal for a ‘tree change’ entrepreneur. As a rural location for someone seeking to change out of the big city Deniliquin is perfect. The business provides an extremely good return for an owner/operator and the rural lifestyle is ready made – fishing and water sports on the Murray, wide open spaces, relaxed and friendly lifestyle.
Alternatively, for a farmer who is in a position to get off the land and move closer in, the business will return many times over for someone who knows the needs of the local farmers, as well as servicing the local town population.
The Deniliquin Mitre 10 could also operate most effectively under management. For an existing hardware store owner/operator (in another town or locality) this store could return handsomely under an effective manager. The staff are mostly long term and are extremely loyal to the store and the town, and under the right manager will continue to offer the service for which the store is renowned.
Given that the business is going so well, why is the owner selling now?
Unfortunately the existing owner/operator has some very serious health issues and is forced to retire.
What further opportunities are there for a new owner to grow this business?
The most obvious opportunity is an expansion of the store into landscaping supplies – bulk supply of sand, soil, mulch etc., and, space permitting, expansion of general building supplies (given the likelihood of an expansion of house building in the area in the next few years).
What’s the most interesting part of running Mitre 10 Deniliquin? What should a new owner expect?
The Deniliquin Mitre 10 is somewhat iconic as a retail store in Deniliquin, everyone goes there – for tools, for kitchen appliances, for BBQs, for outdoor furniture, for plants, for pool supplies, for paint, for nails, bolts and screws, and now for bicycles and repairs.
Given the hardware market the new owner can expect to be embraced by the Mitre 10 organization, with loads of support and goodwill. The Mitre 10 Group guards its stores and territory extremely closely. The organization will seek to make sure the Deniliquin store will even surpass the success the store has had to date
Thanks for your time Terry
Call Terry Friend on 0418 370 687 to discuss in more detail.
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