Sold. Lifestyle Express Convenience Store For Sale Newsagent & Off-licence

Lifestyle Express Convenience Store for sale
Very Profitable Convenience Store Newsagent & OffLicence Run Under Management
Ref. AF173
Location Worcester City Centre
Asking Price OIRO GBP21,000 plus stock at valuation
Established over 7 years ago this modern convenience store operates primarily as a newsagents and offlicence 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 wellmanaged, easy to run business. With turnover historically averaging in excess GBP9,000 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

Expansion Potential
The current market for this business is well established and will remain so into the future. There are many new developments in the area with a new hotel nearby, a new college university campus being built all of which will feed this business. It is also on a commuting route so with more development comes more footfall. These are all great markets to tap into.

The shop itself has spare capacity (as already mentioned we are advised the shop currently utilises just 25% of the available space) and there is room inside that can be expanded into, or used to house a complimentary business or service (e.g. post office).

Market / Competition / Non-Competition Agreements
Due to its high profile location and growing reputation the business does not feel the need to do any traditional forms of advertising. It does have a Facebook page and Google Page and occasionally uses this social media to market its wares.