Sydney Tools to add 40 stores in next five years
Sydney Tools has unveiled an aggressive national expansion strategy that will see its store network more than double in the next five years.
In a statement released this week, the industrial power tool wholesaler and retailer said it plans to open 40 new stores in every state and territory in the country over the next five years, targeting both capital city and regional locations.
This is in addition to the 30 stores the family business already operates along the Eastern Seaboard in NSW, Victoria, the ACT and Queensland.
The new stores will employ an additional 900 people, according to the retailer.
“We have a massive ‘runway’ ahead of us. Australia, like the US, has a large ‘tradie’ market so we’re confident with our expansion plan,” said Jason Bey, director of Sydney Tools.
“We have just finished implementing a range of new software systems which fits in with our program.”
Sydney Tools targets trade customers, and believes spending on infrastructure projects, particularly in NSW, Victoria and Queensland, will drive ongoing demand for its products.
The retailer stocks major brands, including Milwaukee, Makita, Dewalt, Hikoki, Festool, Paslode, Ramset, Husqvarna, Stanley, Fein, Unimig and Cigweld.
Sydney Tools also has a strong and growing online presence, though more than 94 per cent of revenue is generated through its bricks-and-mortar retail outlets.
“This is counter to most retailers. You can say we’re a bright spot in a struggling retail economy,” Bey said.
“In the trade tools business, customers like to come into the store and see the product first hand.”
Sydney Tools also has a fully-equipped workshop with 20 full-time technicians at its Sydney head office, and a further 15 technicians strategically located throughout the store network, who service products and facilitate warranty repairs.
“Our staff are trained to be the most experienced in the business and our customers can be confident of receiving the right advice,” Bey added.
“Their knowledge and commitment drive our success.”