Perth-based entrepreneur Diane Bernarte adopted a different business model when she acquired a store in November 2005. Unlike her competitors, she operates an on-site kitchen, giving her greater independence and control on what she prepares and sells.
Key Points
- Australian Bureau of Statistics data shows food retailing turnover in Australia increased by about 11 per cent between 2020 and 2023, reaching approximately $168.5 billion in 2023, based on seasonally adjusted monthly figures.
- Bernarte and her husband pooled their personal savings to raise the initial capital of AUD 100,000 to acquire a physical store, which they named Lola’s Asian Grocery and Kitchen. Unforeseen expenses included security cameras, accounting services and insurance.
- In addition to making desserts such as taho, a sweetened silken tofu, Bernarte focuses on their core products: takeaway viands that customers can purchase and eat at home.
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This podcast is for general information only. For specific financial advice, you should consider seeking independent business, legal, financial, taxation or other advice to check how the information here relates to your unique circumstances.
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