BUSINESS OPPORTUNITY

TWO ESTABLISHED HARDWARE STORES

FAR NORTH QUEENSLAND, AUSTRALIA

Southside  is predominantly a retail store focusing on Do-it Yourself customers. It services the central and southern areas of Cairns and achieves a six percent above industry average  return on dollars per square meter.  The store markets approximately 10,000 different lines.  This unit netted over $128,000 on $1.3 Million in sales in FY ending 30 June 1998.  Southside has been operating and under the same ownership since 1989.  Gross profits have increased from 29 to 31.5 percent during that period.  Its market area  covers a significant part of the city of Cairns and the Torres Strait Islands, Fitzroy Island, Lizard Island, Karumba, Chillagoe, Gordonvale and Babinda.  There are four full time and two part time employees. The store is open seven days per week.  No lease at present, but a five year lease with five year option is available to a qualified buyer.   Assets to be transferred include: Fixtures and Equipment: $139,730;   Inventory (Stock) at cost: $250,000;  Shares in hardware Co-op:  $43,440.

Brinsmead is located about 6-1/2 kilometeters ( Approx. 4 miles) from the Southside store.  It is also retail oriented and occupies 340 square meters - Approx. 3,656 square feet - of demised premises in the Brinsmead Shopping Plaza at Jensen and Pease Streets in the community of Manoora.  

Servicing the central and northern portion of Cairns, Brinsmead has experienced a growth rate of 240% under its current ownership.  Turnover climbed from $520,000 in 1989 to 1.2 million in F.Y.1994-95.  However, due to the economics of the region, turnover has settled to 1 million per annum with gross profit at 39 percent.  This store markets over 8,000 different lines and netted $137,829 on sales of $922,813 in FY ending 30 June1998.  The  business began in 1983 and has been under the current ownership for nine years. Its market area covers a significant portion of the city of Cairns, Weipa, Kawanyama, Pormpurraw, Torres Strait Islands, Normanton, Mareeba, Mossman, Port Douglas, Edmonton and Mission Beach.  There are four full time employees and one part time. The store is open seven days a week.   Lease expired 28 February 1999; a five year option is available.  Assets to be transferred include:  Fixtures and equipment: $81,630; Stock (Inventory) at cost: 165,000; Shares in hardware Co-op $39,328.

ASKING $1,195,000 FOR BOTH BUSINESSES

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