4 minute read
A REAL GEM
Looking for a stylish, boutique franchise? This growing New Zealand business could offer a sparkling opportunity.
By Sarah Stowe
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Buying a life-celebrating piece of jewellery is a significant event. Imagine a business that offers bespoke rings to suit any taste and any occasion – without a jaw-dropping price tag.
Well, that’s how Polished Diamonds founder Daniel Joines started the New Zealand-based business 15 years ago. Ready to pop the question to his longterm partner, Joines was frustrated at the lack of variety in engagement rings and set up to create a business delivering customised jewellery. He saw an opportunity to design and accurately size rings and gemstones and turned to computer aided design (CAD) for the tools to achieve this effectively and at reasonable costs.
Customers can choose from a portfolio of about 300 prototype ring designs held instore or bring their own inspiration to be translated into a bespoke ring. “There are endless design choices,” Joines points out. “We can bring up a design in a CAD model to see how it looks at the desk and while sitting there can add diamonds to the band, change the figure size, change the ring to rose gold, for instance.”
Joines is confident in the product. “It’s proportionally perfect, the world’s most accurate copy, and we can produce it at extremely good value.”
Polished Diamonds sources directly from diamond cutters so it has access to a diamond pool with a net value of about $7.5 billion without the commensurate financial overheads.
It avoids conflict diamonds by sourcing from BHP, from Rio Tinto, and the Russian state mining company.
“These large mining firms are listed on stock exchanges so dealing with diamond roughs by a corporate company ensures the diamonds are mined in a way that is ethical,” says Joines.
A local supply chain in New South Wales will cast, set and finish each gemstone ring and ship to stores across Australia.
The business also offers remodelling and resizing through its contractor jewellery workshop.
“We do a lot of resizing. We have a cool MRI scanning system, can put in a ring, produce a perfect digital imprint and ensure it’s the same.”
Plans to introduce an artificial intelligence tool are underway with an expected launch in autumn 2020.
WHAT FRANCHISEES NEED With the technical design skills already built in to the operation, franchisees don’t need to bring any practical design talent to the business. Rather they need sales and marketing abilities to develop a social media following, do their own marketing and develop their brand.
While the design and ordering process is high tech, the ambience of a Polished Diamonds outlet is far from minimal. Franchisees operate from a small design studio with a video screen, and a display cabinet and baroque mirror that set a luxurious tone.
What started out as a small retail concept in Christchurch, New Zealand, today operates online across 13 countries and has plans to expand its bricksand-mortar stores yet further.
Joines says “We’ve won best retail category at retail awards. The business works extremely well. We have a huge amount of intellectual property and know-how based in small Christchurch and we replicated that in the slightly bigger Auckland. Now we want to replicate that into slightly bigger cities, Sydney, Melbourne, Brisbane.”
The first foray into franchising was with an Auckland store less than a year ago. Now attention has turned to the Australian market with Joines seeking business-minded and marketing-savvy franchisees to run with the opportunity. Joines says the first Australian franchisee will have the national rights until further franchisees come on board. So if the launch franchise is based in Sydney, the franchisee can operate Australia-wide. If the second franchisee is Melbourne-based, they will take over the rights to Victoria from the Sydney franchisee.
Location matters a little, but this is essentially a destination business. Typically a CBD location in a mall environment done “in a classy way” is ideal, says Joines.
The $50,000 franchise fee covers legal documentation and training costs. “I want franchisees to feel really confident. And I’ll be there to support them. I’m not selling to anyone, I want someone with good business acumen and a spring in their step.” n
Zarraffa’s currently has almost 90 stores across Queensland, Northern NSW and WA. The predominantly franchised stores are made up of traditional shopping centre and strip mall locations, with a significant focus moving forward on opening convenient drive thru sites.
The company’s major markets include the Gold Coast, Brisbane, Western Australia and regional Queensland including Toowoomba, Sunshine Coast, Bundaberg, Hervey Bay, Rockhampton, Townsville and Cairns. A wide range of locations and opportunities are available across regional QLD, NSW, WA with potential for sites in VIC and New Zealand.
Zarraffa’s Coffee roasts and blends all of its coffee on a weekly basis, and delivers it fresh to all stores.
The national head office doubles as a warehouse roasting facility, producing awardwinning blends, and in late 2018 relocated to a $12.5 million, 4.5-hectare site, located in the heart of the Gold Coast / Brisbane corridor.
We are currently seeking Franchisees for these existing stores and new developments. Don’t miss your opportunity to be a part of this dynamic and rapidly growing organisation.
Whatever your background, a passion for coffee is what draws franchisees to our Aussie-owned business.
Join the growing network of almost 90 stores with opportunities now available in NSW, regional QLD and WA.
For more details, go to zarraffas.com/franchising
124 Distillery Road, Eagleby QLD 4207 07 5500 0800 07 5500 0900 franchise@zarraffas.com
