Ned Montarello is the executive chairman of Perth-based company ThinkSmart, which specialises in providing finance products for the B2B sector.
Montarello’s products are sold their electronics and computer retailers around the world, including JB Hi-Fi in Australia.
Given he doesn’t actually control the selling process, how does he help these distributors increase sales of his products?
“We’ve never traded more profitably than we have in the last two years. Last year was a record year and this year’s going to be a better year again.”
“From our perspective, what we can do is train and arm the salespeople in the retail outlets, support them very closely in terms of their marketing initiatives and their catalogues, because what the retailer obtains by utilising our product is an increased invoice price in sale.”
“An average cash sale in the UK for example, is something like £500 or £600, when they do it through our product, we call it SmartPlan over there, the average sale is £800 to £900. So it’s an extra 50% on invoice price plus they get a healthy margin back from us, plus they also attach an extra two or three items to the core sale of the laptop, etc.”
Read a full interview with Ned Montarello from ThinkSmart.