Surge in business doesn’t sway owner on sale move
AN increase in sales and a high demand for products hasn’t swayed Stanthorpe businessman Walter Mattarollo’s decision to sell his High St store.
In business for 32 years, Mr Mattarollo’s store Hot Copper has flourished in light of coronavirus restrictions, with the interest in heaters and barbecues growing weekly.
However, he said the business would remain on the market for any prospective buyers despite the greater attraction from customers.
“It is impressive (being in the industry), but it’s time for a change,” Mr Mattarollo said.
“I’m less confident now with (the virus) happening than before but I had a lady who was interested and only pulled out two weeks ago.”
While the recent surge in business had made the company look more desirable to buyers, Mr Mattarollo said there was significant uncertainty during March and April.
“It tapered off to about minus 20 per cent and that’s when I thought we were going to be in free fall because there was nothing to base it on,” he said.
“There was no reason to think it would pick up next month because it probably wouldn’t, but it did.
“There’s always room for improvement but considering what has happened, it’s been going really well.”
One of several businesses to hit the market, Mr Mattarollo believes the new ownership could fall into the hands of people looking to make a career switch.
“My biggest fear is when the government money runs out and everyone has to fend for themselves, that could potentially be a slow period,” he said.
“But (this business) might be a case of someone buying a job because they haven’t got one.”
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