12. Fidarsi Furniture
Founder: Neil Singh
Revenue: $2.2 million
Head Office: New South Wales
Determined to offer something new to the staid world of furniture retail, Neil Singh launched Fidarsi Furniture in 2008.
The business is online-only, allowing customers to completely custom-make their own pieces, down to the colour of the stitching.
The business was profitable after just 16 days, a feat achieved, Singh says, due to the elimination of overheads and supply chains usually involved in the delivery of designer furniture.
“By changing the way we did things produced different results,” says Singh. “Thinking outside the square became our mantra, which was cemented by an acute vision and an unwavering commitment.”
This thinking extending to its hefty social media output and round-the-clock customer support which, again, is a novelty for customers used to traditional furniture retailers.
Fidarsi’s Sydney-based website says that it offers an alternative to the “pretentious sales assistants, glossy catalogues and ridiculous price tags” of High Street stores.
The business, which took 10 months to make its first $1 million, was funded, Singh says, through “credit cards, savings and winnings from a night out at the casino.” Different indeed.