Australia small business news May 2023

Australia small business news May 2023

  1. SYDNEY RESTAURANT LITTLE VIET KITCHEN COLLAPSES INTO LIQUIDATION AFTER $21K ENERGY BILL DEBT #BizNews_Numbers #AhaAustralia.
    1. Those documents showed that the restaurant had failed to settle a debt of $21,034 to its energy provider Covau Energy, and the matter eventually landed in court
    2. Little Viet Kitchen has more than 1000 followers on social media and is located on the Manly esplanade, a short walk from Manly Corso, Manly Beach and the ferry wharf
    3. Little Viet Kitchen has been a registered business since 2019
    4. Also in March, an iconic popular bar and burger joint in Melbourne’s inner city, The Beer & Burger Bar, went into voluntary liquidation owing around $500,000 to 10 unsecured creditors.
    5. Earlier this month, national restaurant chain Sushi Bay also collapsed, with its last remaining Sydney, Darwin and Canberra branches ordered to shut down, amid allegations that workers had been underpaid $650,000 over a number of years
  2. NZ COMPANY EDUCATION PERFECT ACQUIRES AUSTRALIAN BUSINESS ESSENTIAL ASSESSMENT FOR $35M-$40M #BizNews_Numbers #AhaAustralia.
    1. On Tuesday, Andrew Spitty sold his company, Essential Assessment, to New Zealand business Education Perfect, in the range of between $35 million and $40 million
    2. Mr Spitty will continue to work with Education Perfect, who acquired his company, as will his 22 staff members
    3. Education Perfect is a kindergarten to Year 12 education technology provider with a presence in New Zealand and Australia
    4. The company’s assessment platform is used by more than 2000 primary schools in Australia
    5. Now, thanks to the acquisition of Essential Assessment, their base has expanded significantly, able to reach 4000 schools and more than a million students in the country
    6. Education Perfect has more than 200 staff based in New Zealand, Australia, Singapore, Dubai in the UAE and Toronto in Canada

  1. HOW TO MAKE MONEY: AUSSIES EARNING DOUBLE BY WORKING TWO FULL-TIME ROLES #BizNews_Numbers #AhaAustralia.
    1. Samuel works in IT management, and while his workload of “about 55 hours per week” might sound slightly higher than the average full time employee is logging, he’s actually working two full-time positions, without either of his employers being aware of the other
    2. Samuel’s situation (which sees him earning just shy of $250,000 per year) is a growing trend, according to HR software company Employment Hero’s 2022 Remote Work Report.
    3. The survey found more than half of knowledge workers surveyed across four regions have a secondary income stream — 51 per cent in Australia, 51 per cent in New Zealand, 56 per cent in Singapore and 66 per cent in Malaysia.
    4. Judging by the overemployed subreddit (and its ever-increasing 184,000 members), along with Overemployed.com – an online community offering advice, job-search templates and hacks for employees looking to take the plunge into overemployment, last year’s “great resignation” has given way to something more tantalising: a way for employees to make serious cash by double-dipping, all in the same 9-to-5 window the rest of us have.
    5. Of course, the risks involved in working two jobs at the same time are significant: credit reporting agency Equifax recently made headlines for using their own software to identify and then fire 24 employees with secret second jobs, not to mention the ramifications of getting caught
  2. MELBOURNE MATES BEDROOM START-UP ELITE ELEVEN RAKES IN $40M #BizNews_Numbers #AhaAustralia.
    1. Two best mates from Melbourne who started-up a business from their bedroom are on track to make a whopping $40 million this financial year.
    2. Their love for activewear saw them pour their childhood savings of $20,000 to launch their brand Elite Eleven around 2015.
    3. But Mr Martiniello said the “e-commerce gold rush” in 2016 really helped, while they also launched their first women’s range in 2018.
    4. Back in the day there used to trackpants from Factorie and Cotton On and they were OK quality and Nike were selling theirs for $130.
    5. “Our joggers, that was really tapered in the mid price range and we landed right in the middle at $60 and they started flying out the door like hot cakes
    6. But he said there have been plenty of “big disasters” since starting out on the brand aged 19 from questionable quality control when they first set out to ordering stock from overseas.
    7. Since the start of 2020, they have sold 65,000 trackpants, while popular colours are very “monotone especially in Melbourne” with the likes of black, greys and white, alongside earthly colours such khaki brown, slate and charcoal
    8. Business has also boomed as last year Elite Eleven revenue was $29 million and in 2021 it was $20 million.
  3. MELBOURNE LUNAR DRIVE-IN CINEMA SHUTS DOWN AFTER 67 YEARS AMID RISING LAND TAX #BizNews_Numbers #AhaAustralia.
    1. An iconic outdoor cinema has become the latest victim of cost of living pressures, and will close its doors after 67 years.
    2. An iconic outdoor cinema in Melbourne’s southeast has become the latest victim of cost of living, announcing that it will close its doors after 67 years
    3. When it first opened it 1956, it was one of the first drive-ins built in Australia
    4. Almost seven decades on and the theatre is still as popular as ever, welcoming 400,000 guests a year
    5. “July 9 will be the last night at Lunar Drive-in,” the company posted to Facebook
    6. Land tax on the venue has risen to a staggering $1000 per day, and is predicted to double in the next few years
    7. “Fifteen acres of land … that’s hard to justify when there’s no one here in the daytime and we only operate a few hours each night,” he told 7 News.
    8. But the schedule for June 9 reads: “Lunar Drive-in closes forever after tonight
    9. The final night will ring out with showings of Austin Powers: Goldmember and Indiana Jones & The Dial of Destiny, both at 7pm.
  4. BRISBANE FASHION BRAND KITTEN D’AMOUR MADE FAMOUS BY BRITNEY SPEARS MAKES $20M #BizNews_Numbers #AhaAustralia.
    1. The brand was started by a Brisbane woman and has attracted the likes of Lady Gaga, Pink and the Pussycat Dolls – raking in $20m a year.
    2. Instead, the Brisbane woman was inspired to create a fashion label by her great, great, great grandmother, who had created a brand called Kitten D’Amour in Paris in 1889.
    3. Back in the early 2000s, Ms Smith was working as buyer and designer for a national retailer travelling to places like Paris, London, New York and Los Angeles to suss out what was trending overseas.
    4. The 54-year-old said they opened their first store in 2003 in Surfers Paradise and “couldn’t keep up” with demand as the brand offered feminine and pretty styles at a time when cargo pants were hugely fashionable.
    5. In 2008, Ms Smith decided to change the brand’s name from Sex Kitten to her family legacy of Kitten D’Amour and now garments have also been seen on the likes of Lady Gaga, Pink and the Pussycat Dolls.
    6. She thinks the business was set up for success – with it now raking in $20 million annually – from working the retail floor as a teenager as well.
    7. ”They would literally walk around the store and they would be plucking off practically every garment we had – it was like Christmas times 10 in the middle of the year – and the reason they buy so much was it was not just for themselves but they are buying for their big family group, so it was fantastic,” she said.
    8. Often the vintage-inspired designs are made in extremely limited quantities such as only 300 of each garment.
    9. “What we do is we launch collections every three to four weeks and they are very limited in number and each collection has a theme and the last collection was peacocks and palaces – a beautiful print – and there was probably 20 designs in that collection,” she explained
  5. JACK DELOSA NET WORTH: HABITS KEY TO HIS BUSINESS SUCCESS #BizNews_Numbers #AhaAustralia.
    1. The entrepreneur behind a $100m fortune has revealed how he has kept his sanity and work-life balance while building his company
    2. “Going back 10 years, I was jumping out of planes; often we’d skydive with 100 clients in Melbourne on a Saturday and fly back to Sydney and jump out of a plane with 100 clients on Sunday,” he said.
    3. The sharp turn away from thrillseeking and toward self-care began when the entrepreneur woke up one day after 10 years in business and found he couldn’t get out of bed despite being young and healthy
    4. I started to integrate meditation into my days in 2016,” he said
    5. “I was going through a horrendously painful period in business in 2016; I had to do that to maintain my sanity
    6. There were periods when it faced the possibility of losing $900,000 a month and when it had to cut over 50 per cent of its staff in a short time period
    7. Despite his lifestyle change, Mr Delosa returned to the sky to promote his new book Elevate, jumping out of a plane at 5000km above Sydney.
    8. Though the rich-lister is only required to spend “90 minutes a fortnight” on his business, he said he chooses to dedicate “pretty much every waking minute on business of some sort”.
    9. “What we tend to do is just work more, work more, work more, work more, work more, and that leads to 60, 70 80, 90-hour weeks, and it’s just unsustainable.
    10. Demographer Bernard Salt has evaluated 1360 professions to find Australia’s best job – and prepare to be extremely surprised.
  6. AUSTRALIAN REAL WAGES: ABS DATA SHOWS WAGES ARE UP, BUT INFLATION STILL HIGHER #BizNews_Numbers #AhaAustralia.
    1. The Australian Bureau of Statistics has delivered some startling figures concerning wage growth over the last 12 months.
    2. According to the Australian Bureau of Statistics’ latest Wage Price Index report released on Wednesday, wages increased 3.7 per cent over the 12 months to the March quarter.
    3. But inflation, while declining, is at 7 per cent – well above the Reserve Bank’s goal of 2-3 per cent.
    4. “Measured over the past 12 months, workers have faced an average real wage cut of 3.3 per cent.”
    5. At least one economist believes the RBA board will again raise the official interest rate at its June 6 meeting.
    6. The ABS said wages were up 0.8 per cent compared to the previous quarter.
    7. The most significant industry contributors to wage growth were education and training at 1.5 per cent and professional, scientific and technical services at 0.9 per cent.
    8. “Public sector wages rose 0.9 per cent over the quarter
    9. “Annual growth increased from 2.5 per cent in the December quarter 2022, to 3.0 per cent in the March quarter 2023
    10. This is the highest annual growth since the March quarter of 2013.
    11. During the March 2023 quarter, 60 per cent of jobs reported a higher wage rise than the year prior – the highest proportion recorded since the figures began being collated in 2003.
    12. The ACT experienced the highest quarterly growth at 1.3 per cent and South Australia and Northern Territory the lowest at 0.6 per cent.
    13. Western Australia and Tasmania had the highest annual increase in wages at 4.1 per cent, while the Northern Territory recorded the lowest at 2.9 per cent.
  7. FOUR-DAY WORK WEEK: PERTH BUSINESS ESS SHIPPING TRIALS SHORT WORK WEEK #BizNews_Numbers #AhaAustralia.
    1. A federal parliamentary committee report released earlier this year backed plans for the alternative work structure, including support for the controversial 100:80:100 model of productivity.
    2. “So we want 100 per cent output for 80 per cent of the time but 100 per cent pay,” he told Nine News.
    3. The non-profit organisation proposed a six-month trial of the new work roster without any sacrifice to their 97 employees salaries
  8. INSTANT MANI CO. FOUNDER STEPHANIE PICONE’S MILLION DOLLAR IDEA FOR BUSINESS #BizNews_Numbers #AhaAustralia.
    1. The 36-year-old studied journalism and spent over a decade working in television, a rewarding career that she truly adored
    2. But at the end of 2019, the Gold Coast local was hit with a devastating blow: she was being made redundant.
    3. At the time, Queensland had just been plunged into their first lockdown due to the Covid-19 pandemic.
    4. in November 2020, which quickly brought in lots of sales from people eager to keep their nails looking beautiful during the pandemic
    5. From her $8,000 investment, her business is now worth six figures – with Stephanie confident they will hit seven figures at some point this year.
  9. GOLD COAST MUM’S IDEA SPARKS SAF ORGANICS BUSINESS MAKING $500K #BizNews_Numbers #AhaAustralia.
    1. A mum who had a “very boring” job working in finance prior to having kids, squirrelled away every $5 note she received to save up to launch a business that has raked in over $500,000 in the past year.
    2. The 35-year-old said it involved a lot of trial and error with the use of bicarb making it rough to apply at first, while the mould wouldn’t hold initially and the deodorant had to be kept in the fridge.
    3. “I collected $5 notes and sold items that we didn’t need around the house for $5 only and once I reached $1500 that was enough to buy myself a website and create it myself,” she said
    4. Ms Mimi-Ozalp said the $1500 allowed her to purchase 500 containers and labels for her deodorant, which she launched on social media in 2019.
    5. “All 500 bottles sold in the first month and I turned $1500 into $10,000 in just 30 days, then I sold 13,000 and 15,000 bottles and fast forward to four years on and two more kids later and my husband has now resigned from his job,” she added.
    6. When she sent the manufacturer her deodorant it included her hand written recipe but now Saf Organics has grown from one product to selling 23 items, she said.
    7. Every time I look at a $5 note I look at it differently, it’s not the littlest note, its done lots for us,” she noted.
    8. “After travelling Australia for 13 months and learning about the amazing native plants we have in our own country our skincare range was launched
    9. When we say vitamin C, people think of citrus but we have got a Kakadu plum that has over 100 times the vitamin C benefits with the highest concentration in the world so we included that in our serum,” she said
    10. Last financial year, the brand made $360,000 but is now on track to rack up more than $500,000 in sales, which Ms Mimi-Ozalp said has “blown” her away.
  10. TIKTOK: PASHA FEUDS WITH EATCLUB OVER ROADHOUSE 1-STAR REVIEW #BizNews_Numbers #AhaAustralia.
    1. Pavel “Pasha” Grozdov, who has more than 830,000 followers across his social media accounts where he has racked up millions of views with his humorous lifestyle and travel videos, has drawn the ire of Marco Pierre White-backed ordering start-up EatClub over the stoush.
    2. Grozdov used EatClub — a mobile app that allows businesses to fill up spare tables by offering last-minute discounts — to redeem a 20 per cent off deal at Roadhouse Restaurant Burgers & Ribs on March 4.
    3. But when he and a friend arrived at the trendy inner-city spot on Ultimo Road in Haymarket about 8pm, co-owner Samuel Ahn informed them that unfortunately the kitchen had broken down and the shop had to close.
    4. According to EatClub, the pair then used the app to redeem another 30 per cent off voucher at a venue in nearby Central Park.
    5. But Mr Ahn said “straight away, probably within one hour”, Grozdov left a one-star review on Roadhouse’s page using a friend’s account — which had the effect of lowering its average score from 4.9 to 4.8.
    6. “Back then we had [roughly 100 reviews] with 4.9 stars
    7. We have a lot of overseas guests in that Haymarket area, because of that one star it brought us to 4.8, it wasn’t good at all.”
    8. After Mr Ahn raised the issue with EatClub, a customer service representative for the app contacted Grozdov offering a $15 voucher to apologise and asked if he could remove the review.
    9. Instead, he wrote back that “$15 isn’t enough to cover for the bad experience we’ve had”
    10. “Can we please have $50 at the very least? $15 assumes that we will be using EatClub again and it is only enough to cover soft drinks,” he wrote.
    11. You have now called me twice and messaged me three times in the short span of 12 hours which is considered aggressive spam abuse.”
    12. Grozdov then shared a link to his TikTok and Instagram profiles, where he has 516,000 and 316,000 followers respectively
    13. According to his “rates card”, Grozdov charges up to $11,000 for one sponsored TikTok and Instagram Reel promoting a product.
    14. “The restaurant offered $15 compensation, but we did not feel this was enough given the whole experience was cancelled entirely after our arrival,” he said.
    15. “We asked to increase the offer by $35 but couldn’t come to an agreement
    16. Grozdov joined TikTok in 2020 and soon amassed millions of views on his videos
    17. “As a top emerging voice in the digital space, Pasha’s content reaches 56 million people monthly across Instagram, TikTok and YouTube
  11. INFLATION: ANZ’S SHAYNE ELLIOTT FEARS MORE BUSINESSES WILL COLLAPSE AS INTEREST RATES RISE #BizNews_Numbers #AhaAustralia.
    1. Despite the nation’s inflation rate dipping by 0.8 per cent from its December peak, ANZ chief executive Shayne Elliott believes financial strain on businesses will continue for some time.
    2. Deloitte’s March 2023 edition of the flagship Business Outlook report revealed the financial strain on households, a decrease in dwelling construction and a “shaky” global environment had negatively impacted the nation‘s predicted economic growth.
    3. Consequently, the advisory firm revised its expectations for the 2023 and 2024 calendar years to 1.5 per cent and 1.2 per cent respectively – the slowest outside the pandemic since the recession of the early 1990s, if reached.
    4. According to global think tank The Conference Board, the United States Leading Economic Index saw a 1.2 per cent decline in March – the lowest figure since November 2020.
    5. Construction company A1A Homes and its subsidiary A1A Commercial Builders have gone into administration.
  12. PERTH TRADIE’S FASHION IDEA CREATES BUSINESS CALLED SAFESTYLE THAT MAKES $1M A MONTH #BizNews_Numbers #AhaAustralia.
    1. The plumber left school in Year 11 – but a business that he started in his bedroom has boomed, and even saved people’s lives.
    2. Little did he know that this “light bulb” moment would lead to a business that started in his bedroom and now sells $1 million a month in product just online.
    3. He said his research quickly uncovered that nothing like it had been done worldwide, so he set out with lofty ambitions back in 2017 as he was keen “take on the giants of the safety industry”.
    4. The 29-year-old created basic sketches for the glasses in his bedroom which later led to 3D samples being created before seeking final approval from his tradie mates.
    5. The Perth man launched his business Safestyle in November 2018, having ordered a whopping 3000 glasses to take to market.
    6. “I ended up getting 900 pairs sent by air and I launched them on Instagram and Facebook and by word of mouth, and the remaining 2100 came on a sea container and by the time the sea container came I had already sold out of the first 900 and that’s when it started taking off.”
    7. The glasses are made of 100 per cent recycled poly carbonate which is shatter proof with no metal parts, and the business has now sold more than 500,000 pairs, he added.
    8. But Mr Lewis, who left school in Year 11 to complete a plumbing apprenticeship, said it hasn’t all been “easy sailing” creating a business from scratch.
    9. The former plumber now leads a team of 30 with Safestyle selling a pair of clear lenses for $29, while a polarised version goes for $65, which Mr Lewis said are awesome for the water and fishing.
    10. Safestyle sells its products directly to the biggest mining companies and is also stocked in 500 stores.
    11. “We are making $1 million a month through our online presence but there is also retail on top of that,” he said
  13. SYDNEY TIKTOKERS MAKE $500K FROM ART EXPERIENCE THE FLUID PROJECT #BizNews_Numbers #AhaAustralia.
    1. A boring date night has sparked an idea for a business which has seen a pair of friends rake in a whopping $500,000 in less than a year
    2. Friends Allen Fu and Fiona Wang, both 27, from Sydney, both independently realised that they had exhausted most of the fun date nights available in the NSW capital
    3. “We’re projecting $1 million in a full business trading year,” Mr Fu told news.com.au
    4. Called The Fluid Project, their business has taken off in Sydney and they’ve even sent do-it-yourself kits to 21 countries so far due to popular demand.
    5. “They could go up to $10,000, $20,000 for one artwork,” she told news.com.au
    6. Realising they were onto something, the pair pooled together an initial investment of $40,000.
    7. Within 24 hours they started the warehouse and three weeks later, they opened the doors of The Fluid Project to the public
    8. Their videos about The Fluid Project have garnered more than 23 million views
    9. Mr Fu has now founded a total of 10 businesses and said that The Fluid Project was by far the most expensive to get off the ground – but was proving lucrative very quickly
  14. MILKRUN WILL SHUT DOWN THIS WEEK AND HUNDREDS OF STAFF TO LOSE THEIR JOBS #BizNews_Numbers #AhaAustralia.
    1. Founder Dany Milham sent an email to the company’s 400 employees informing them the delivery company would be shutting up shop for good by the end of the week.
    2. Mr Milham blamed worsening economic conditions for the collapse of the once-great delivery company which raised $11m before launching in September 2021
    3. MilkRun became one of the fastest growing startups in the country in 2022 when it banked an impressive $75m funding round led by a US venture capital firm.
    4. The decision to close MilkRun comes months after 20 per cent of the workforce was let go in an attempt to revitalise the sluggish business
    5. The CEO reassured his 400 employees that there would be enough money to provide severance packages and pay suppliers.
    6. MilkRun was hailed as a revolutionary service when it launched in September 2021 as one of the first companies to offer ultrafast delivery.
    7. However, the company was forced to broaden its timeframe in 2022 amid rising costs.
    8. RIP to MILKRUN, the last bastion of ‘instant’ grocery delivery apps that were all the rage in early-2022.Just 15 months ago it raised $75 million in funding.Now it will be closed by end of week.More from @DavidAdams_AU ⬇ï¸https://t.co/djVojipC6z
    9. Ben Roberts-Smith has officially stepped down from his position at Channel 7 following a lengthy defamation battle with Nine newspapers.
  15. BONDI COUPLE’S WEIRD IDEA TURNS INTO CHIEF NUTRITION BUSINESS MAKING $3.5M #BizNews_Numbers #AhaAustralia.
    1. So if you are going to create a bar, you need artificial fillers or thickeners to stick it together, so a natural bar uses dried fruit or syrups and the problem is then you have a product that is 30 or 40 per cent sugar,” he told news.com.au
    2. This launched their side hustle Chief Nutrition in 2015 where they sold the bars in their gym, in health food stores and through a wholesaler.
    3. The 46-year-old said the business ticked along on the side without much time being put into it as they worked on other things and had two children, now aged four and one.
    4. Then in 2018, Mr Babet decided to go into the business full-time along with their wholesaler and they started out by distributing other health food products for cashflow.
    5. Then they offloaded that side of the business to focus on their own products full-time from January 2020.
    6. We found that more than 50 per cent of customers are female and the jerky segment is normally 80 per cent male-dominated
    7. The ads have been part of the key to their success with four million Aussies seeing one online in the past 12 months “which is quite huge for a little brand like us”, Mr Babet said.
    8. “A 40g bar contains 80g of beef, so it’s basically like having a small steak,” he said
    9. At first they were making just $5000 to $10,000 a month before it jumped to $40,000
    10. They then hit $83,000 in one month which Mr Babet said was a “game-changer” as it allowed them to scale up the business in terms of production, packaging and even the team.
    11. Within a year, the business was raking in $1 million for some months.
    12. Chief Nutrition is currently making over $3.5 million per year.
    13. Now, Mr Babet said they have their eyes set on becoming a global business – looking to the likes of Kind bars and Quest Nutrition, which have both been sold for over $1 billion.
    14. “Long-term it would mean [being] in the US, New Zealand, Singapore and the Middle East by exporting and we are expecting that to grow that in the next 12 months.”
    15. The company is targeting reaching $10 million in revenue next year too.
  16. GLEBE MARKETS REMAINS OPEN AS NEW COMPANY TAKES OVER #BizNews_Numbers #AhaAustralia.
    1. This picture is infuriating Sydneysiders, as a 30-year legacy could be brought toppling down, changing Saturday mornings forever.
    2. Sales have dropped considerably with reports of just 10 per cent of the usual foot traffic while vendors that rely on the markets for their income are in dire straits
    3. Stephen Choularton, the director of Organic Food Markets which is in charge of running the markets for the next 12 months, said the situation himself and the retailers have found themselves in is “unfair”.
    4. They usually got through 70 toilet rolls on market day
    5. Another stallholder, called Emily*, revealed that last year she made about $1000 every time she set up shop at Glebe Markets
    6. In comparison, last Saturday, she made just $30
    7. His revenue is down 90 per cent since the market changed hands
    8. During the first week the markets reopened, Jenny had to use tissues from her handbag when she needed to go to the bathroom during her 7.5 hour shift.
  17. SON TURNS FAMILY’S SYDNEY RESTAURANT MT LEWIS PIZZERIA INTO $1M SUCCESS USING TIKTOK #BizNews_Numbers #AhaAustralia.
    1. Desperate to make “ends meet”, his dad opened up a bakery 17 years ago called Mt Lewis Pizzeria in the suburb of Bankstown.
    2. The 26-year-old turned to TikTok to showcase the food and vibrant culture and he is known as the The Manoush Man on the social media site.
    3. A recent video got more than 200,000 views of him cooking and he said one viral video on the platform can have a “snowball” effect.
    4. “In the past 12 or 13 years there was steady growth but we would have stayed making that amount of money
    5. When we did this with social media it was a clear difference of about 250 per cent growth in one year and this year we are on track to double that,” he added.
  18. MELBOURNE TEEN MAKING $40 PER HOUR WITH INGENIOUS IDEA #BizNews_Numbers #AhaAustralia.
    1. A Melbourne teenager has responded to those telling him he’s too young to get a job with an ingenious idea that is now making him $40 per hour on the weekend.
    2. Thirteen-year-old Ben Adler from Brighton has started his own business painting street numbers on people’s property for $20 a pop.
    3. “I’ve always wanted to have my own business because my parents both do and a lot of my family members do,” Ben told 7NEWS.
    4. Ben said he works up to 20 hours on weekends, travelling almost 50 kilometres on his bike to get to his customers and back home again.
  19. ADELAIDE HAIR SALON PRODUCT COMPANY FOIL ME TAKES OFF, MAKES $4M #BizNews_Numbers #AhaAustralia.
    1. A happy accident has landed a South Australian couple in the millionaire’s club, raking in $4 million in revenue in a year thanks to a genius idea.
    2. “I had my little one with me, I needed some time to myself,” the 41-year-old recalled, speaking to news.com.au
    3. When her husband Iliano, 42, arrived, he saw foils in his wife’s hair which piqued his curiosity
    4. Foil Me raked in $4 million in revenue last year and is on track to hit $5 million at the end of the financial year in June
    5. “I went to eight salons twice a week, I would leave a whole packet, they were like 500 sheets,” she recalled
    6. But it wasn’t until she started working on the company’s Instagram with “dodgy” photography skills in 2014 that things really started to take off
    7. In 2018, they were hit with two pieces of bad news; they owed a massive debt to the Australian Taxation Office, and also their factor in China.
  20. BUDDY’S BAR IN NEWTOWN WHERE YOU POUR YOUR OWN BEER #BizNews_Numbers #AhaAustralia.
    1. From there, they head to the beverage wall to choose from more than 30 taps — with 12 more on the way — that currently offer 16 beers, six cocktails, five wines and a few non-alcoholic options
    2. We don’t get that situation of someone who’s come in at 10am, drank all day, and the night staff have no idea how many he’s had.”
    3. The flow rate is slowed by about 50 per cent, making for a gentler and less foamy pour
    4. You can try 10 drinks in one night without having any more than you’re comfortable with.”
    5. Earlier this year, sustainable farmer Jacob Wolki opened the country’s first self-service butcher, which stays open 24/7 without any staff.
    6. The Albury-based storefront is open 24-hours a day, 365 days a year without anyone to man it – and yet has never had an issue with theft or shrinkage.
    7. “This is open 24/7, 365 days, and all of this meat we grow on our regenerative farm 10 kilometres up the road.”
  21. VICTORIAN FURNITURE COMPANY MCPHAILS GOES FROM BRINK OF CLOSURE TO MAKING $22M #BizNews_Numbers #AhaAustralia.
    1. An Australian family business that had seen two brothers mortgage both their houses and borrow $500,000 was in “so much debt” that they nearly shut it down to go and work on farms.
    2. Started in the 1960s, McPhails is a Victorian-based furniture business that was founded by Keith McPhail, a fourth-generation farmer.
    3. Later he added in new furniture and ran McPhails until he sadly died of cancer at the age of 50.
    4. In one week, we went from zero turnover and the next week we did $200,000.”
    5. Little did the dad realise that the move would be a game-changer for the family business that they had nearly lost in 2020.
    6. But the boom on Facebook saw McPhails bring its staff back in to “run the phones” and takings grew to around 180,000 to $250,000 a month turnover, which meant the business was breaking even.
    7. “Then it was $250,000 to $300,000 – and we were losing every month prior to Covid,” he said
    8. “Then in April of the first Covid year we made $750,000, May was $750,000 and then it dropped down as we ran out of stock.
    9. “So when it went off, we ordered 100 containers of supplies – everyone was saying be careful don’t order too much, it will fall in a heap, as we normally have 10 containers on order.
    10. “But in July it went off again and we hit our first $1 million and then went to $1.3 million for the month and eventually got to $2 million about a year after.”
    11. It means the brothers went from making a loss to a turnover of $22 million a year in just 24 months.
    12. The 32-year-old also introduced a $59 flat delivery fee – a move he is convinced spurred the business on
    13. The company now fills a truck with $45,000 worth of furniture to drive as far as Mildura, Adelaide or Cairns.
    14. They also had to buy up trucks, going from one to 10 in the space of a year, to keep up with demand.
    15. “We ordered ahead of the game – it was going gangbusters – and we were the only ones that had stock and people were taking delivery straight away whereas Harvey Norman was a 25-week wait.
    16. Online sales are still booming, bringing in $400,000 a month for the business, he added.
    17. “After lockdowns finished, people would bring iPads to the shop and come up and buy $15,000 worth of stuff
    18. Someone from Newcastle went to the Australian Open, caught the train to Wangaratta, caught a taxi to the store, spent $10,000, went to the pub for lunch and then caught the train back to Melbourne later in the afternoon.
    19. “People have also flown from Adelaide to Melbourne, hired car and spent $20,000 and then went back to Adelaide that night.”
    20. Taylor, who has a double degree in commerce and law, said the company spends a whopping $100,000 on Facebook advertising a month but in January it reached 2.5 million people.

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