FoodWorks has announced its current and forecasted plans to achieving ambitious targets in the next two to three years, with plans to launch new and/or redevelop three hundred stores within the network and introduce one hundred and fifty ‘new generation’ entrepreneurial retailers in the coming years.
According to the company, successful internal capital raising that exceeded targets of $10 million and its powerful entry into Western Australia, with the opening of twenty six stores, is evidence of an independent supermarkets revival.
FoodWorks has identified nine hundred potential new sites nationwide and plans to secure a significant number of these with purpose-built ‘perfect stores’ and fill them with ‘new generation’ retailers.
FoodWorks is striving to create the ‘perfect store’ by drawing on key attributes of past and current stores and conducting extensive research on its international peers, analysing the ideal design and store layout for particular demographics, geographics and store sizes.
The first of FoodWorks’ ‘perfect stores’ is currently being constructed in Casterton, regional Victoria, with the opening planned for March next year.
Another important growth initiative for the company is a new strategic focus marketing of the brand aimed at positioning FoodWorks at the top of consumers’ minds.
While FoodWorks is concentrating on growing nationally, increasing brand presence in New South Wales and Western Australia is a priority.