By James Wells
Privately-owned Brisbane-based electrical retailer and Narta member, Bi-Rite Electrical, is continuing to offer Retravision stores central accounting after recently growing to 102 stores nationally.
Bi-Rite Electrical is one of three buying groups on the east coast of Australia that are likely to absorb the large majority of the Retravision stores as the business winds down in its present form on 31 March 2013.
Click here to sign up for our FREE daily newsletter
Follow Current.com.au on Twitter
According to Bi-Rite Electrical owner, Abdul Sacur, central accounting has helped secure approximately 30 former Retravision Southern stores who have joined his group since the business went into administration in May this year, at an average of five stores per month.
“We are the only retail buying group in Australia left offering central accounting. We understand how central accounting works and we know that Retravision stores prefer a buying group that offers central accounting,” Sacur told Current.com.au.
“The reason Bi-Rite Electrical can offer central accounting is because we have a very strong balance sheet and we are a profitable business that is financially sound with a diversified business portfolio supported across other verticals outside of the electrical retailing industry.
“The retailers who have joined our business are very happy with Bi-Rite Electrical. We have taken over roughly 30 stores since the collapse of Retravision Southern and we expect more to join us in the coming weeks and months,” he said.
One of the key differences, Sacur says, is the ability to provide flexibility for the retailers in terms of the way their stores are represented in their unique markets and communities.
“We allow the retailers the opportunity to brand their stores the way they want to — they can use their family name such as Cummings Bi-Rite Electrical — or they can use their location — it is completely up to them as it is their business operating within our buying structure,” he said.
“By having central accounting your back-end work is done at the head office, reducing the workload of our members significantly. Our point of sale is one the easiest and best in the market, known as SPAN, which works as an all-in-one store management system including invoicing, stock control and reporting.
“It is our preference, as well as suppliers’ preference that we remain with central accounting to get a better deal as it is only one account to service.”