In a recent insightful interview with one of our customers, we spoke to Jessica Glass, Founder and Managing Director of Two Wheel Madness.
Two Wheel Madness (TWM) is Western Australia’s largest specialty gear and accessories retailer to the motorbike and scooter market. They recently opened an exciting new concept store located on an expansive 650 sqm warehouse site at Joondalup.
TWM sells a wide range of electric scooters, dirt bikes and helmets, boots, dirt bike gear, ramps, and more.
We asked Jessica to share some of the unique aspects of their concept, what inspired her to create TWM and how the Procuret relationship came into their picture.
“TWM was created to fill a massive gap in the motorcycle accessories market; it enables all kinds of avid customers to buy what they need when they need it. For us, the concept is a mix of a little bit of Mad combined with a little bit of Fun.
We are different from the status quo - we make the buying experience unique and welcoming for all customers. We have a motorbike track in-store and even let customers test scooters or bikes inside the store. Everyone that comes through our doors is recognised by the team - it’s all about providing exceptional customer service and giving customers a wide range to choose from.
We found that customers don’t always want to buy online; especially with passion items - they want to touch and try on. We stock a broad range of local and international brands, giving customers access to all products they need from one location. This means we purchase stock from wholesalers that provide the best products in the market. We don't just accept what is on offer from a single source - we seek new products that are popular with riders, and find ways to make it available.”
Setting up a new retail venture is a daunting prospect, regardless of the current economic climate and availability of goods.
Unlike many other retailers, TWM is open 7 days a week, including public holidays. “It never stops”, says Jessica. “After nearly two years of harsh lockdown and uncertainties, people are ready to move on. Parents are dropping in to buy last minute items or to upgrade - which is simply not possible from an ‘online only’ store.
Perth is a unique market with a high standard of living and healthy discretionary incomes. Western Australians have a love for outdoor activities. Dirt biking in particular is a sizable market in WA, driven by a growing base in amature participants. Road biking is a combination of professional and amature bikers, all customers looking for the latest range of accessories.
Despite remaining closed to the rest of Australia, WA’s economy is booming. Last year, the WA Government reported that ‘Since the start of the pandemic, WA's domestic economy has grown by 5.7 percent - around double the growth of the rest of the country. Consumption has been supported by surging retail trade, which has been growing at the fastest rates on record and is the strongest of any jurisdiction.’
“Unable to travel outside their borders, disposable income grew at a reasonably strong pace - contributing to TWM’s recent success," says Jessica. “We opened our store at the right time and customers are spending more now on leisure sports and hobbies."
To remain creative and innovative, TWM gets its supplies from 30 different suppliers. But it hasn't always been smooth sailing for them. “Our biggest challenge historically is getting access to supplies that our customers want, and that keeps them interested in wanting to come back. The US produces a lot of cool supplies but we found it hard to source them here given how far we are from their borders. So instead, we decided to source and manufacture our own supplies.”
The second biggest challenge many small business operators face is managing a healthy cash flow. A balance between cash reserves and a strong budget. Many businesses find themselves in this situation where they need to invest more to take advantage of growth opportunities.
Jessica explains that “Going down traditional lending options for working capital with a bank or finance company was not an easy exercise. There are complexities and delays that just did not suit our business. Customer service from traditional lenders can be hit and miss. If TWM needed to make a procurement decision on a Sunday, getting a response is unlikely - but getting that order in on that day can have a large impact on sales numbers for the next week.
What Procuret has done is taken the idea of providing extended cashflow and wrapped around what is essentially exceptional service. The level of service we got from day one just made such a huge difference for our business. It helped us get all the stock we needed before we opened. The flexibility given by the platform enabled us to transact at odd hours - it’s easy to use, easy to understand and easy to reconcile.
"We were introduced to Procuret through a purchase we made with an IT supplier, and have now used Procuret multiple times to pay invoices that are essential for our business. They have fundamentally changed our business.”
Finding the right partners to work with to deliver excellent customer experiences is key to a business’ success. It is as important to ensure you find the right balance between your cash reserves and spending on the essential products and services you need.