Any business owner will tell you there are a lot of blood, sweat and tears that goes into running your own successful venture. Typically, you start small (perhaps just yourself), then slowly gain a few employees as you begin to turnover a nice little profit, and soon enough you’re thinking about expanding your empire.
While it’s not always so clear-cut, there are many Perth businesses that are thriving and making a name for themselves in today’s uncertain markets. We sat down with three high-flying Perth businesses, all at varying stages of their business cycle, to get their insights on what it takes to grow a successful business.
With chief executive officer Peter Macaulay
While some retailers are struggling to keep their doors open, Kitchen Warehouse continues to soar. Since first opening its doors in Perth in 1996, the speciality kitchen retailer has grown to seven stores in Perth and has spread nationwide.
Three years ago the family business merged their retail business with their online store Kitchenware Direct, to offer the most extensive range of kitchenware products in Australia. It was a proven catalyst for their national retail expansion, which is showing no signs of slowing down.
What is the best piece of advice you could give to a new business owner?
Understand your financials. Be confident that you have enough expertise, or outsource the expertise to ensure your cash flow is managed correctly.
As a retailer, how important is it to have a digital presence for the growth of your business?
Incredibly important – whether it's the basics of having a Facebook page or a full online store, every business must have a clear online strategy if they want to grow their business.
What’s next for Kitchen Warehouse?
Continue to deliver fantastic service, great prices and exciting products to our valued customers, whilst also continuing to roll out stores on the east coast. We have two stores in Queensland and one in Victoria opening in the next four months, which we are really excited about.