The national tile retailer will look to open an additional 65 stores across the country by 2022 to drive revenue from around $275 million annually to over $500 million.
Executive chairman Bob Beaumont, who is celebrating his 50th year running the business this month, is bullish on the company’s prospects despite what he described as a “levelling off” of the housing market in recent months.
“[Housing] is still probably a bit overcooked, and especially in Melbourne there’s a lot of builders who have 12-18 months worth of business in the pipeline…so it’s not going to slow down in terms of our business anytime soon,” he said.
Beaumont has yet to decide on which international markets the tile business will pursue, or whether it will master-franchise out international markets, but when asked where he thought the business would do well he singled out American and Asian markets.
“It will depend at the time what opportunities and partnerships are available to us…we’re very open to the US or Canada and we’re very open to some of the Asian countries too.”
Beaumont believes expanding the company’s Australian presence even further will be a launching pad for international markets, that will increasingly allow it to smooth out the cyclical nature of the housing market.
The business intends to leverage its franchise model to underpin the growth, and will look to open at least another 50 franchised locations over the next five years.
Founded in 1960 by Bob Beaumont’s father RJ Beaumont, the South-Australian founded business currently has 115 stores across the country and services both the retail and commercial sides of the market.
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