Family fishing store looks a good catch
Norcross Fishing World which is for sale at 15 Railside Avenue, Henderson.
Norcross Fishing World a popular sports fishing gear retail store in Henderson, is being offered for sale as a going concern business within leased premises by Richard Ridler of Link business broking based in Ellerslie.
“This business which focuses on the sale of fishing products to recreational fishers was established in 1963 and has been at the current site for 40 years,” Ridler says. “The total asking price for the business is $395,000 made up of tangible assets of $30,000 including fit out that would be hard to replace; intangible assets of $165,000 which is small relative to the history and financial performance of the business; and stock estimated at $200,000 which will be actual good quality stock at cost at possession.”
Ridler says the vendor Robert Norcross also owns the building and will negotiate a new lease with the incoming owner on terms and conditions that are satisfactory to both parties. “The potential rent has been set at a fair market rate of $42,000 per annum and the vendor is happy to negotiate a period of rent rest i.e. zero increases,” Ridler says.
The business was launched in 1952 when Charlie Norcross, a keen sportsman, golfer and fisherman, opened a sports store in the main street of Henderson.
Within eight year Norcross had outgrown the original premises and moved the business around the corner to 15 Railside Ave into a new store three times the size. Around this time Anthony his brother joined the company. He was also a keen fisherman and later started a scuba diving section with tuition and sales.
Charlie’s son Robert joined the company after leaving school in 1972 and is the current owner and manager.
“Originally the business was a sports store and sold a range of other sporting goods. However, all businesses must adapt and change to the market to survive so Robert decided about 18 years ago to specialise in fishing tackle, bait and consumables,” Ridler says.
“The store was totally re-fitted in 2012 and changed into a dedicated fishing tackle shop with good customer parking at the back. Now Norcross Fishing World is the only dedicated fishing tackle store in West Auckland - no guns or camping equipment, only fishing gear.”
He says Norcross believes that to be the best in one area a business must focus on one core product and not become distracted with other sporting lines.
“Today 62 years since its birth, the company is strong, knowledgeable and competitively priced,” Ridler says.
Norcross says the business “is not rocket science” and “the technical stuff can be learnt”. However, it would ideally suit a person with a keen interest in fishing and outdoor pursuits who has a desire to be more involved in recreational sports.
Ridler says a new owner should have good sales skills as well as administration and management abilities and be aware of customer service requirements.
Norcross Fishing World (interior).The business focuses on the sale of fishing products to recreational fishers.
“The vendor is happy to train the new owner in all aspects of the business, including introductions to suppliers and is willing to stay around in a hand-over role during an agreed transition period,” he says.
The business is run by the owner with one full time and one part-time employee.
Current opening hours are Monday to Friday, 8.30 am to 5.30 pm; Saturdays 8.30 am to 4 pm
and Sundays from 10 am to 4 pm but the stores is opened for extended hours during summer months.
Ridler says 65 to 70 per cent of the products sold are consumables which return the best profit and the stock turns over quickly.
Daylight saving months from October to April are the busiest as the light is longer in the evenings and fishing hours are longer.
Customers are predominately male and range in their twenties to late fifties and the store has many long term and loyal customers who purchase frequently from the shop.
“Surf casting has a large following in the West where many beautiful and wild beaches,” Ridler says. “For over 50 years, Norcross has been known in Auckland as the specialist in surf casting and the store probably sells more surf casting gear than any other shop in Auckland. West Auckland has a large mix of Polynesian and Asian people who tend to prefer fishing from the beach and off the rocks, rather than from boats.”
Ridler says the point of difference that Norcross Fishing World with its competitors is its longevity in the market and giving exceptional service to customers.
“Expansion of the business could be generated by proactive marketing activities like email blasts to data base customers; newsletters with specials and information; updating and improving the website; promotion to local fishing clubs and setting up a Facebook page with local news, competitions and promotion of product.”
Ridler says Robert Norcross has worked actively in the business for over 40 years. “He would now like a change to pursue some other opportunities and ventures as he approaches retirement.”