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Ten months ago, it was touted as a revolutionary new home theater concept. Silent investors in businesses related to lifestyle stores are now considering selling control of the store to the owner-operator or franchising the store to get a return on the initial investment. .
Meanwhile, Lifestyle Stores shareholders, who also own a share of the Theater at Home network of retail stores, are seeking new investors for their network of seven stores in high-volume luxury retailers.
Danny Assabgy (see below), CEO of Sydney-based Hudson Homes and Investment Company Equiti, told ChannelNews that one way to profit from the initial investment, believed to be over $5 million, is to own the rights. said to sell. From theater-at-home stores to owner-managers, lifestyle stores “carry inventory, program electronics, deliver and install.”
When ChannelNews revealed the store’s existence exclusively, Sydney’s Lifestyle Store CEO Vinod Christie said they expected to generate $30 million in annual sales, up to $104 million annually. I heard.
According to Assabgy the business, it currently has six stores and plans to open a seventh in Brisbane, with around 450 to 500 customers to date.
Insiders told ChannelNews that the average sales are between $18,000 and $20,000.
A “Join Our Brand” document sent by Assabgy to ChannelNews states that shop owners investing in the business “have access to design supply, installation marketing, home shows and exhibitions, websites, visual merchandising, social media, warehouse support, pre-programming. ” is claimed to be obtainable. , quality tests, research reports, showroom licenses, and world-class brands and technologies.”
There is no mention of upfront costs, how much the shopkeeper will have to pay, or whether the shopkeeper will have to pay some of the marketing costs going forward.
Theater At Home’s customer profile is described as “Mom and Dad” consumers seeking a better entertainment experience.
The business currently has Sonos for wireless speakers and soundbars, Klipsch for speaker partners, Onkyo and Yamaha for amplifiers, and Epson for projection. Initially, the business advertised his BenQ projector.
In addition to this, Control4 was chosen as the control partner. Observers claim that both lights and projectors will be controllable via Matter management systems from Samsung SmartThings, Google Home, Amazon and others by the end of this year. Alexa or Apple solutions.
By moving away from the Control 4 offering, you can further reduce your installation costs.
ChannelNews understands the business is already in talks with DC Strategy. DC Strategy describes itself as a “Strategic Franchise Consultant” with extensive experience in all aspects of franchising, including designing and creating new franchise offers as well as modifying existing ones for better fit. A new and evolving business strategy.
This is the same company that JB Hi-Fi and the previous The Good Guys management teamed up with when they acquired The Good Guys retail chain.
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