Costco

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Be proud of your budgetary discipline

5:06AM | Monday, 13 May

This article first appeared on November 20th, 2012.   Recently, I managed to shock a few people over lunch by telling the tale of when I haggled with a salesperson over the price of a fare back from the airport.   “Sure, that young sales rep should have taken more personal responsibility. But haggling over the couple of dollars difference between a two-hour ticket and a SkyBus? Sorry to say, but that’s just being a scrooge,” they say.   A scrooge? As a kid, while other kids were busy watching He-Man, Old Taskmaster stuck up a bedroom wall poster of Scrooge McDuck. Hand drawn on reused paper too. Being called a scrooge is an honour!   Of course, long-time Taskmaster readers will know how much fun cost-cutting competitions at work can be. And who wants to pay for a vicuñacino when an instant coffee does the same job? Especially when that instant coffee comes in a bulk container you bought from CostCo.   Some people seek to persecute the financially prudent amongst us who are inclined towards saving over spending. “Miser. Cheapskate. Skinflint. Moneygrubber. Penny-pincher, Tightwad. Cheap,” they say.   What these spendthrifts need to understand is that when you’re building a business funded by someone else’s hard-earned savings, a little budgetary care doesn’t go astray.   If you succeed in doing what Instagram’s founders did earlier this year – sell a lean start-up with 13 staff to Facebook for $US1 billion – it’s you, rather than the big spenders, who’ll be laughing in the end.   So don’t be shy about cutting your costs or saving your money. Instead, show some (fiscally disciplined) pride!   Get it done – today!

Homegrown cookie franchise bites into global market

2:55AM | Tuesday, 26 February

Gourmet biscuit producer Byron Bay Cookies intends to go global with its franchising model, after establishing six Australian stores, and is looking for franchisees to fuel its expansion.

THE NEWS WRAP: Costco announces first Australian profit, major expansion plans

3:04AM | Friday, 15 March

The Australian arm of discount warehouse chain Costco has declared its first profit, along with $50 million from its US parent to finance an aggressive expansion plan.

Fresh wave of US franchises set sail for Australia

3:05AM | Friday, 15 March

A fresh wave of US franchisees will soon descend on Australian shores, including dining chain Denny’s, while an exercise machine created in the US has rolled out an Australian franchise program.

British fashion retailer Paul Smith sets up shop in Australia

11:02AM | Tuesday, 8 November

British fashion retailer Paul Smith is to establish its first Australian store in Melbourne, as international chains continue to make their mark on the local market.

Ikea opens new Melbourne store, here are 10 secrets to their success

9:49AM | Thursday, 8 September

Australia has been keen on welcoming the big-box retailers lately, and IKEA is the latest entry, with the company opening its second Melbourne location in the suburb of Springvale this morning.

Start-up retailers urged not to fret over Costco expansion

7:21AM | Thursday, 21 July

American retail giant Costco opens its third Australian store today but industry experts say small retailers shouldn’t worry, claiming some will actually benefit from the expansion.

Buy in bulk and save

11:11AM | Tuesday, 20 November

Everyone in business knows that buying more generally allows you to buy for less. But many start-ups lack the purchasing power (and the clout) to demand discounts by buying in bulk.

THE NEWS WRAP: Telstra looks to win back customers

12:10PM | Sunday, 5 December

An executive at retail giant Costco has accused Woolworths and Coles of attempting to slow its expansion in Australia.

Start-ups advised of Costco opportunity

12:00AM | Tuesday, 7 December

The early success of discount superstore Costco in Australia should inspire start-up retailers rather than intimidate them, according to a retail expert.

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