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Busy Godfreys franchisee to settle in Cairns

Written by Janet Culpitt on 23/07/2014 9:54:00 AM 0 Comment
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As franchisee of two Godfreys stores in Townsville and Cairns, president of a franchisee group that sometimes meets in Melbourne, and father of four children under ten, three of whom live in Canberra, Michael Dunne’s lifestyle over the past few years has been somewhat chaotic.    

Frequent travel and the demands of running two businesses have taken their toll. But that’s all about to change. Michael recently sold his Townsville franchise – which under his management had become Godfreys’ top franchise in the country – to settle in Cairns and focus on family and developing his Cairns franchise.

Michael Dunne has been a Bartercard member for over a decade. He’s made good use of his membership during that time, reaching Platinum member status quite quickly, but admits his efforts had slackened a little over the past two years – life became increasingly hectic and numerous other matters demanded his attention. Now, with additional time on his hands and only one Godfreys store to run, he plans to increase the amount of trade the store does on Bartercard and make the most of his trade dollars to increase turnover and get the Godfreys name out in the region.

As the major Australian specialist retailer of vacuum cleaners and related products, Godfreys undertakes a significant amount of national advertising and is generally well known. However Michael says that the brand is less known in regional areas where he’s had to make some additional effort to build the Godfreys brand.

So how does a big brand retail franchisee use Bartercard?
Michael has used his Bartercard in a variety of ways, but almost always to help him generate cash business or conserve cash on regular business expenses.

His trade dollar purchases have included:
- Over $100,000 in bookkeeping fees
- Accommodation and meals during frequent business travel
- Leadership and sales training for staff
- $600-800 a week in stock transport over a 2-3 year period
- Ink cartridges
- Couriers
- Print and radio advertising

“Advertising paid for with trade dollars can increase cash sales by 10-15% during a          campaign.”

Michael has also found that offering excess stock on Bartercard is a great way of moving it quickly without the need to heavily discount, as often required to shift stock quickly in the cash market. Members are happy to spend trade dollars on quality products, making sales easier.

Incoming trade dollars are generated by products sales, with around 5% of the stores’ substantial turnover in trade dollars. Still, Michael can see more ways to use his trade dollars and plans to increase the level of Bartercard sales to around 10% as he now turns his focus to building the Godfreys brand in the Cairns region and increasing the store’s turnover.

Michael is looking forward to being able to settle in Cairns and cut the frequent travel out between the two stores. Not only does he find the Cairns lifestyle appealing, he knows he can put his Bartercard membership to even better use with such a large number of businesses on Bartercard in that region.

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Topics: Business Owner, Free up cash, Trade Dollars, Franchise, Franchisee Group, Increase Sales, Bartercard Member

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