December 16, 2010: After 44 years in the photo industry, eminent Wollongong-based retailers Jens and Kari Madsen (Madsens Cameras and Imaging) are retiring.
While energy levels and enthusiasm are never in short supply at Madsens, ill-health has been the deciding factor in the couple bowing out and putting the business on the market.
‘We are aware that it is a tough market place for a photo business,’ writes Jens, ‘But we also know that our business model is very different to others in the industry.’
Madsens has a thriving business supplying schools and government in addition to a loyal local customer base.
Among other distinguishing features, the business has developed a lucrative niche supplying those hard-to-find (and high-margin) accessories sought after by photo enthusiasts and professionals.
‘Our preference would be to sell the business in it’s entirety. Alternatively our account sales to schools and government bodies would be an easy add-on to an existing business needing or wanting to expand.
‘Our account customers are prompt payers with 99 percent paying within 30 days,’ he added.
The business consists of retail sales to clients from a large part of NSW and interstate, and account sales mostly to government institutions in all states and territories of Australia, supported by a dedicated academic catalogue, email lists to all Australian schools, and other valuable customer data.
Best of luck in 2011 and beyond, Jens and Kari!