Ableworld will stick firmly to its steady growth strategy, opening around three to four large stores on retail parks in the next year, despite some of its competition expanding at a quicker rate.
That is according to managing director Mike Williams, who said that the company is performing well despite “stronger competition” entering the mobility market in the last 12 months.
Ableworld’s financial year ended in August and the retailer increased sales by more than 17% while like for like sales grew nearly 16%, in what was another record year for the company. The retailer did not disclose the exact sales figures.
The company saw similar increases across both its company-owned stores and franchises, including the Bournemouth business, which grew turnover by 23%.
Mr Williams said that Ableworld “achieved some great figures” despite “stronger competition coming into the marketplace”.
Once audited, the business expects profits to grow by similar or larger percentages than its sales.
Mr Williams said: “On top of some great performances by a number of both our own stores, the franchises and joint ventures we were very pleased that two new stores opened in the past twelve months, Christchurch in Dorset and our new company flagship store in Stafford.
“We are excited for the forthcoming year so watch this space for more large stores on retail parks.”
He added: “Between ourselves and franchises we are aiming to open at least another three to four stores in the coming twelve months and we intend to carry on being the leading mobility and stairlift retailer in the country.
“I know others are opening, sometimes at a slightly faster pace, however we intend to carry on with our model, which in the main, has around three times the space of our main competition, so presently we are retailing out of well over 100,000 square feet.”
Ableworld is currently upgrading its accounts, CRM and retail systems, having signed a £500,000 contract for a SAP system which will be introduced at the end of the year.
Mr Williams concluded: “Naturally none of this could be achieved without a great team both at our head office and out in the field.
“Hopefully people feel they have been rewarded well with a bonus structure that on average has paid out nearly 15% on top of salaries, in recognition of everyone’s hard work.”