PoolWerx predicts $350 million revenue by 2020
Pool and spa care network PoolWerx will be bringing in $350 million in revenue by 2020, CEO John O'Brien has predicted.
O'Brien said the 20 year old company's eight year plan is realistic given the company has grown almost tenfold in the last decade, from $7 million to nearly $70 million turnover.
“The past 20 years have been an absolute rollercoaster but we’ve always hit our targets and maintained solid growth,” he said. “For each twist and turn the business or the economy has taken, we’ve come out on top and the fact we have achieved 25 per cent compound growth since 2002 proves that.
“We are able to set such a large reach target for 2020 as the potential for the business is huge, as we’ve only tapped into about 20 percent of market potential to date."
The intended growth will increase the active franchises network to more than 300, O'Brien predicts. There are over 200 territories operating with more than 300 mobile vans and 70 retail hubs.
The diversified business model that also includes online retailing and business to business services has helped the network grow, but the multiunit retail operation will be a particular focus for the chain.
“Our goal is for all franchise partners to adopt our revolutionary Generation 4 franchise model – a multi retail store operation," said O'Brien.
“Our franchise partners in Brisbane Tony and Michelle Graham were one of the first to adopt this model and were recently recognised as the FCA Multi-unit Franchisee of the Year – Multi Unit after starting out as a man-in-a-van concept 10 years ago and growing to a multi-million dollar operation running four retail hubs and six mobile vans using a central warehouse.”
O'Brien said the company has continued to find new ways to market.
“We’ve relocated retail stores to neighbourhood shopping centres, introduced a hybrid online/offline e-store and we’re always exploring the pool after-care market for opportunities like offering certified pool fence inspections.
“The commercial sector is also a big opportunity for us, currently contributing over 25 percent of total turnover through business relationships in real estate and hospitality and providing insurance claim services, all of which we will continue to capitalise on over the next few years.”