Dick Smith has been reborn from its unfortunately stale ashes and petty sales as a completely online store. The website and brand name were bought by Ruslan Kogan the owner of the other online retailer, rightfully named Kogan.
A mass email has notified all persons whoever signed up or bought from Dick Smith since inception, enticing them to shop again at the familiar yellow website, but rather it exists as a Dick Smith themed Kogan website if you have been to the Kogan website you will know what I mean. All things considered, Kogan is betting a lot on the Dick Smith brand, while sales could boost peoples confidence in the new site it begs the question is it all worth it.
Kogan will sell Kogan branded items on Dick Smith, like LCDs, Phones & other accessories. If there is something popular out at the moment, you can bet Kogan has a clone of it for sale at 80% price difference. While Kogan items are the same quality as the original Dick Smith branded electronics, in today’s age more sales of a Kogan item might mean a new version with improvements, so there is that.
The price paid for the brand is top secret but it is doubtful to be a particularly high amount, technically speaking most of the value came from a huge database, the customer details, and the dot com. The Dick Smith website can still generate a lot of visitors and items will sell if the site ranks well in Google Searches.
But what this to do with accounting systems, well it like we have mentioned before in our blogs the JobsPlus software has the same story as Dick Smith. However, the person affected by the demise of JobsPlus are the customers stuck with a program that does not work or could crash at any time. The issue is that you have a database that without JobsPlus is worthless.
If you are trying to sell your business you need to be able to show and give the new owners your database, prove to them that your business is making money. At the end of the day, it is all about money, your data is worth a lot, but if you are unable to access it then its dead weight.
However there is always some way to extract the data, and in the past few months, we have been doing exactly that, moving local WA businesses off JobsPlus and into a real ERP Accounting & Jobbing system, from where their data is easily accessible and supported by large software developers.