Retail Zoo, the parent company of Boost Juice Bars, Boost International, Salsa’s Fresh Mex Grill and CIBO Espresso, continues to grow its retail footprint.
Stores numbers have increased to a total of 350 for all brands both in Australia and internationally, which is up from 282 in June 2012. In the last financial year from 1 July 2012 to 30 June 2013 alone, 58 stores were opened in the Retail Zoo network – 19 Boost Juice Bars, 28 Boost International, nine Salsa’s Fresh Mix Grill and two CIBO Espresso stores.
Retail Zoo CEO Scott Meneilly said the 2012/2013 financial year has been a year of strategic growth for the company.
“In the current environment, pressures change so the business needs to react to ensure momentum continues and we remain relevant to consumers,” he said.
“Retail Zoo has determined what works and how to support our franchise network to ensure our partners are profitable. We have a proven franchise platform, procedures and systems and our partners know it.”
Since the December 2012 acquisition of Adelaide’s espresso bar group CIBO Espresso, Retail Zoo’s network sales revenue has grown by 30 per cent, the annual turnover is now $221 million compared to $170 million this time last year. EBITDA in the last twelve months is around $17.6 million with bottom line growth of 24 per cent.
Meneilly said the business has ridden peaks and troughs in a challenging retail environment however overall, performed solidly.
“Retail Zoo has had five years of double digit EBITDA growth which we never take for granted. It’s our complete focus on continual improvement that keeps us grounded, hard-working and responsive,” he said.
As for how it’ll look for 2014? Optimistic, Meneilly said.
“While political unrest tends to bring uncertainty with it, we see the coming 12 months a time of growth for Retail Zoo. We’ve taken time to transition CIBO so we can expand into Melbourne, Sydney and Brisbane. Franchise enquiries are tracking nicely and we’re planning solid, conservative growth of the espresso bar concept. We plan to open one store per month for the next 12 months.”