The business model continues to surprise even the Silver Chef directors. Firstly, the model demonstrated its robustness during the GFC when Silver Chef was able to grow its profits strongly. Something was right.
Then, they realised the model could translate to sectors other than Hospitality, hence the GoGetta brand. GoGetta got off to a flying start.
Next, they extended the reach into neighbouring New Zealand, which was soon producing profits. Australia was not the only place they could make money.
They overcame the setback which beset GoGetta a couple of years ago. This was an internal issue, not an issue with the market or with their model. The turnaround was remarkably rapid, giving the lie to the saying "There's usually more than one cockroach in the kitchen". Because there was only one, which they squashed comprehensively. And look at GoGetta now - 35% annualised growth ("farexceeding our expectations" according to the Directors) and unstoppable.
Everything is going smoothly with their Canadian expansion. The potential is enormous, given the lack of competition, and also the revelation that Canada is already profitable - despite the fact that it's initially generating only 1/3rd the contracts per staff employed that each of the more established Silver Chef, GoGetta and New Zealand divisions generate.
Success in Canada will be the final proof of the model's strength. Although no absolute guarantee, this sets it up perfectly for the Big Kahuna - with a market 10 times the size - the United States.
In my opinion, the sharemarket still doesn't understand Silver Chef.
