Albany’s busy Bedpost is for sale
The Bedpost store for sale at 260 Oteha Valley Rd, Albany.
The Bedpost store at 260 Oteha Valley Road, Albany, is for sale through Nick Stevens of Link Business Broking Ltd for an asking price of $395,000.
Stevens says the figure is made up of tangible assets of $70,000, intangible assets of $215,000 and stock valued at $110,000.
He says the busy retail operation is positioned to take advantage of a fast-growing Albany Basin and “would suit someone who wants to drive a business with significant potential.
“Over the last 20 years Bedpost has assisted thousands of New Zealanders to find beds and mattresses which are both well priced and of high quality,” says Stevens.
“This company supports New Zealand bedding manufacturers, offering a comprehensive collection of Kiwi-made bedroom furniture, in addition to beds and mattresses.
“Its range of bed brands includes Sleepmaker, Sealy Posturepedic, Design Mobel, East West, Simmons Beautyrest, True Comfort, Tempur and many more.”
Stevens says Bedpost has wide public acceptance and brand recognition — as illustrated by an odd incident involving the All Blacks several years ago. Following their Bledisloe Cup victory in 2010 — and for reasons which are still not exactly clear—The All Blacks bust into a rendition of the well-known Bedpost jingle.
“Heaven knows why, but as they downed a few beers in celebration in their dressing room, one of the songs they sang began with the catchy lines: ‘No, you don’t buy a bed every day’ . . . and concluded with the well-known final line, ‘You can sleep on it!’
“To me this incident — captured on Youtube — really does illustrate how much the Bedpost brand has become part of the Kiwi culture.”
But it’s not that hard to work out why Bedpost has become so popular, according to Stevens. “Bedpost aims to ensure each new bed has the comfort and support which buyers need for a good, healthy sleep every night. This company really is focused on providing its customers unmatched value for money on top brand beds.
“It delivers the latest in mattress design and technology at affordable prices and, since everyone enjoys a good night’s rest, that gives Bedpost the widest possible catchment and probably customer loyalty too.”
Stevens says the store at 260 Oteha Valley Rd was established in 2010 — the same year the All Blacks decided to sing their Bedpost song.
A new lease is in place for six years, plus rights of renewal for a further six years, he says. Rent reviews are every three years and the current annual rent paid $19,7110,
The store is now run by its owner who works 48-hours a week — seven of which are dedicated to accounts management and paying wages — plus a part time staff of three people. The store continues to show growth and is up 18 per cent in the 2016 year, compared to 2015. Opening hours are: Monday to Friday, 9am to 5.30 pm; Saturday, 9am to 5pm; Sunday, 10am to 5pm.
A new Bedpost franchisee will receive a term of 15 years. Ongoing fees are 7.5 per cent, made up of 3 per cent royalties and 4.5 per cent marketing fees.
“These marketing costs help to enable an impressive national strategy. Marketing covers print, web-based, social media, television advertising, blogs, magazines and home shows,” Stevens says.