Very Profitable Convenience Store - Newsagent & Off-Licence Run Under Management
Ref. AF173
Location Worcester City Centre
Asking Price £35,000
Business Profile
Established over 7 years ago this modern convenience store operates primarily as a newsagents and off-licence supplying a range of customers within the community it serves. A well located convenience store this business sells food, confectionary and general products, alcohol, newspapers and cigarettes etc. all of which bring a growing number of repeat customers into the store, on a regular basis.
The location of this business is superb and it brings in a constant stream of paying customers. The store is situated on a walking and driving commuting route, serving a college, residents and local businesses including the Worcester race course, cricket ground, hotel, and restaurants and bars. 70% of customers are regular customers and the remaining 30% as passing through (shopping on the high street, tourists, etc.). We are advised the business only utilises some 25% of the available space within the premises.
This has been an extremely profitable business with excellent turnover and profits to date. Figures for current year are down (see below for reasons) and it is offered at a very realistic price for a quick sale. . The business is now run under management and has generated excellent returns for the vendor.
This has been a very well-managed, easy to run business. With turnover historically averaging in excess £9,000 - per week , this represents an excellent opportunity to acquire a well located convenience store and off licence, that is solidly established within the local community.
Since July 2015 the vendor has put in place a manager to run things and this additional cost, as you would expect , has impacted sales and profitability for the current year, as has the poor weather.
Because the vendor is now not working in the business full time it has also started to get stock delivered but again this is incurring additional costs that would not necessarily be incurred by a new owner.
