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BJs Wholesale Club – A Prominent Chain of Warehouse Club for Membership Only in the US
BJs Wholesale Club Inc. is one of largest warehouse club chains offering exclusive membership to its customers across the US. It occupies the#3 across the nation and #1 position in the New England by operating its centers across 205 locations with a vast membership of over 9 million members. About three-fourth of its sales across 15 US states is majorly dependent on food items including fresh, frozen and canned items.
Furthermore, the remaining part of its sale comes from variety of general merchandise such as housewares, apparel, small appliances, office equipment as well as gas. Targeting majorly on retain customers instead of small businesses, the company is still seeking ideal location to expand its reach across different nations and become the #1 wholesale club chain in the world.
Its financial status
Being a private sector company today, BJs no longer displays its annual sales publicly. However, as of 2011, the company operated as a public sector entity registering itself on #1,847 in the list of Global 2000 companies according to the renowned Forbes magazine. Furthermore, it also occupies the 718th position in terms of sales as per the Forbes list.
The then market capital of the company as estimated by the Forbes was $2.7 Billion. However, at present, the company occupies a profitable position in the market. According to the financial report of third quarter 2016, as displayed by Supermarket news, the overall revenue of the company as estimated on September 30 2016 is $98.53 million.
Furthermore, the company’s gross profit amounts to $52.58 Million. Although the net income shows a depreciation in this quarter to $-5.51 million, the company aims at increasing its sales by the next quarter. The major credit to its progressive growth over the years goes to its extensive team of over 25,000 employees comprising both part-time as well as full-time workers.
The origin story
The company initiated its operation with a discounted departmental store at Zayre, Massachusetts in the year 1984 deriving its name with the initials of Mervyn Weich’s daughter, Beverly Jean Weich, who is the president of the company. In the year 1987, Weich resigned from his position and John Levy took over the charge.
The formation of TJX companies took place in the year 1988 with the selling of Zayre Corporation to Ames, a renowned discount chain. Immediately after its formation, the company spun off its warehouse division including BJs in the year 1989 for the formation of Waban Inc.
Furthermore, BJs Wholesale Club Inc. became an independent entity in the year 1997, when Waban Inc. spun the company off and renaming itself as HomeBase Inc. A big turnover came into the company’s operation in the year 2011 when it acquired two of the renowned private firms namely – CVC Capital Partners and Leonard Green & Partners. In the year 2014, Leonard Green & Partners became the wholes-sole owner of the company.
How it functions?
Having its widespread presence across more than 213 locations, BJs Wholesale Club Inc. is eagerly looking forward to expand its reach globally by opening its various store chains with its capital rate ranging between 6.5% and 7.50%. It is seeking for suitable properties on lease to open its corporate owned or franchise outlets. The investors who are willing to make handsome profit from its business need to make a minimum investment of $5M to $10M.
Furthermore, as per the corporate lease agreement of the company, the minimum lease term may vary from 15 to 20 years. However, depending on your further interest of continuing business with the company, they can also extend its term by 20 to 40 years. Not only this, the company also promises an increment of 10% in the rent of your property after every 5 years.
BJs Wholesale Club Properties For Sale Across the United States :
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