PoolWerx founder and CEO, John O’Brien, says consumer confidence is high and the dry times are over for the Australian pool industry, after unveiling six new stores in as many months.
The company reported a revenue increase of eight per cent in the six months to January, on track to exceed $75 million in sales, while O’Brien said retail sales were up 12 per cent, excluding the impact of the recent store openings.
“It’s the best first half we’ve had in a decade,” O’Brien said.
“The pool and spa care industry has almost fully recovered from the double decline; low spending in the wake of the GFC and water restrictions during drought years.”
While demand for items such as pool chemicals remained steady, O’Brien said the revival in purchases such as solar heating, pool blankets, and energy saving pool equipment contributed substantially to the spike in sales.
“We had to work hard for these discretionary purchases in the past but pool owners are investing again.
“Technology has also improved dramatically, with the latest energy saving pool equipment in high demand as electricity prices continue to rise. Innovation in such technology has been one of the most exciting evolutions we’ve witnessed in years.
“Pool owners are also seeing pool upgrades as adding value to their property again, with our research indicating 40 per cent plan to do so this year. This shows a vast shift in consumer spending in the sector compared to two years ago.”
PoolWerx opened six retail outlets nationally over the past six months, with four more stores expected to open before the financial year end. More than 20 new franchise partners have also joined PoolWerx in the same period taking total franchise numbers to 225.
O’Brien said he was confident the pool network could reach 350 stores and 1000 mobile vans by 2020.
“We’ve identified opportunities for 350 franchise territories – each with at least one retail store and multiple vans.”
O’Brien said improved business confidence and positive year on year results had attracted fresh interest in his franchise.
