Bedshed supplies quality bedding and bedroom furnishings across Australia and is one of the industry’s most recognisable brands. Bedshed currently operates a 43 store network, including 37 franchise stores, all of which are supported by a sophisticated e-commerce offering. The Bedshed brand was the first in the Homewares and Furniture category of the Australian Franchise Rating ScaleTM to be awarded a 5-star rating[1].
Bedshed continued to demonstrate resilience and strength in a challenging retail environment marked by softer foot traffic and tougher trading conditions. The network delivered business written sales exceeding $[150] million, representing a [6]% increase on FY23.
Combined operations, encompassing both franchisee and company-owned stores, generated a revenue increase to $[23.1] million compared to $21.1 million in FY23. EBIT for the year stood at $[4.4] million, a slight decrease from $4.8 million in FY23.
The franchising business demonstrated its continued strength with a revenue of $[6.8] million compared to $[6.5] million in FY23. The EBIT margin improved to 54%, resulting in an increased EBIT of $[3.2] million compared to $[2.7] million in FY23. This positive performance was underpinned by the establishment of two new Queensland franchises in Jindalee and Toowoomba, bringing the total network to 43 stores.
During the year, Bedshed strategically acquired two franchisee stores in Castle Hill and Alexandria, Sydney, expanding the Company-owned store network to six. This strategic move strengthens our presence in the important Sydney market and positions us for significant future growth.
The Bedshed network continues to demonstrate resilience, with promising prospects and new store openings solidifying its position in the Australian market. We remain focused on expanding the store network nationally where we are also underrepresented. This, combined with our unwavering commitment to quality, customer service, and value, positions Bedshed for continued growth and success in the years to come.
I extend my sincere gratitude to our dedicated teams and franchise partners whose commitment and efforts have been instrumental in navigating the challenges of the past year and achieving these positive outcomes. Together, we look forward to building upon this success and driving Bedshed’s growth in the dynamic market landscape ahead.
Gavin Culmsee, Bedshed General Manager
FRANdata Australia is the franchise industry’s number one source for objective information and analysis of Australian franchise systems. The outcome is a performance metric based on a star rating with 5 stars being the highest of ratings. This franchise star rating scale provides an independent and object tool to assist perspective franchisees, advisors and financial institutions make an independent evaluation of the franchise system.
In 2022 after months of interviews and information swapping, Bedshed achieved a 5 star rating making Bedshed the only franchise system in the bedding and home furnishing industry to achieve such a high rating.
