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Melbourne, Australia

Snooze committed to expansion with new vendor finance assistance

Australian Franchise News – 11-07-12


As bedding retailer Snooze continues to report strong year-on-year results, the company today announced plans to offer approved prospective franchise partners the option of receiving vendor finance. This offering would allow new franchise partners the opportunity to acquire a store through direct finance from Snooze, rather than a bank or other conventional lender.

Snooze Managing Director, Simon Beaty said he believed the new offering would open the doors to prospective buyers who had previously been turned away from the big banks.

“At Snooze we’re so confident in our business model that we’re prepared give anyone interested in becoming a Snooze franchise partner a fair go”.

Snooze has bucked the trend of the current retail slump and is showing strong signs of meeting its objective of growing its 73-strong store network to 100 over the next three years.

Simon continued, “With an aggressive growth strategy firmly in place and with proven results amidst some of the toughest retail conditions in history, franchise partners can be confident they’re investing in a business model that’s both profitable, and tried and tested”.

Successful applicants of vendor finance will receive initial and ongoing training, be kept up-to-speed with the latest industry standards and trends, ensuring they’re well equipped to meet the needs of their local market.

Snooze also hosts regular meetings, forums and conferences for franchise partners to network with colleagues and learn more about the business, guaranteeing franchise partners are aware of company news, able to speak directly with the senior management team, and be the first to view new products and technologies from suppliers.

Snooze aims to extend its current offering into new markets in Tasmania, and the Northern Territory as well as additional stores in regional New South Wales, metro Sydney, Western Australia and metro Brisbane.