The home services industry is booming despite the impacts of COVID, and this is never more evident than at Poolwerx, Australia’s largest pool and spa maintenance brand who recently announced its most successful financial results of its 29-year history.
Despite the testing retail environment, turnover was 10 percent above forecast for FY21, with Poolwerx’ 128 retail stores performing exceptionally well, recording a sales uplift of 10 percent year on year. Overall, the business saw 10 percent growth year on year with a total of 5 new retail stores opening across NSW, WA, and QLD and a further 5 independent stores acquired under the Poolwerx brand.
The strong FY21 results reflect a surge of Australians investing in their own backyards whilst affected by the pandemic, generating a home servicing industry boom. Poolwerx Chief Operating Officer, Nic Brill said the COVID-fuelled growth in-home services had seen the brand’s recession-resilient franchise model thrive.
“With people spending more time at home than ever before, we saw our client’s priorities shift towards investing in their homes and backyards,” Mr. Brill said. “The broader pool industry were the recipients of this home cocooning trend throughout 2020 and into 2021, and it’s great to see our network of small family businesses generate incredible results and come out on top in these uncertain times. Our brand and what we stand for – maintaining healthy pools for families and friends to create lifelong backyard memories – is really resonating with clients in the current climate.
“Our franchise partners exceeded their planned budgets for the financial year, a testament to both their dedication and commitment to the increased demands from new and existing clients.
“Our diversified approach and business model, working across retail and servicing, provides partners with multiple revenue streams versus a single stream income franchise option.
“This diversified approach creates opportunities for our partners to build a business that suits their needs – from a single van operator all the way through to multi-store empires, we’re here to facilitate and support the journey they want to take.” Mr Brill said.
Getting into small business or franchising offers a chance for a secure future and helps Australians regain control of their livelihoods. Having survived five economic recessions, Poolwerx has proved time and time again that this is an opportunity to dive into.