Local Convenience, Newsagents & Hardware Store in Devon

Beaworthy, Devon
REF: R08142

Asking Price:
£290,000
Annual Turnover:
£449,373
Annual Net Profit:
£86,378
REF: R08142
Photo of Local Convenience, Newsagents & Hardware Store in Devon
Photo of Local Convenience, Newsagents & Hardware Store in Devon
Photo of Local Convenience, Newsagents & Hardware Store in Devon
Photo of Local Convenience, Newsagents & Hardware Store in Devon

Overview

Tenure:
Leasehold
Established:
2001
  • Excellent Reputation
  • Huge growth potential
  • Spacious Premises
  • Equipment Included
  • Low Overheads

This is a unique opportunity to acquire a local convenience store, newsagents, and hardware shop, which is based in Beaworthy, Devon. The business has no local competition within a 6-mile radius and has a 5-star Trading Standards rating.

The business was originally established in 2001, with the current owner taking over in 2015. Under the present ownership, the business has experienced significant growth and has gained an excellent reputation and a loyal customer base in the local community.

The store prioritises offering their customers a wide selection of products and services, including various convenience goods, myHermes parcel shop, pastries, drinks ‘to go’, newspapers, alcohol, local produce, groceries, hardware goods, and much more.

Until March 2020, the hardware store was operating as a separate entity in the adjacent property. However, due to the outbreak of COVID-19, the owner decided to incorporate the hardware side of the business inside the main premises, which has proved highly successful. The store has now become a one-stop-shop for local residents and means they can shop within the community.

The business currently opens from 7:00 am to 17:30 pm on Monday to Saturday, with an early close on Wednesday at 14:30 pm. On Sundays, the business opens between 08.00 am to 12.00 pm. There is huge scope for the new owner to extend opening hours.

The premises are based in a village setting in a small parade of 5 units, with the store being 2 units combined. The store has free parking, no local competition, and high passing footfall. There is also a main road just nearby and a post office and pub situated on the same road.

Upon entry to the premises, you find yourself in a large sales area with shelving, fridges, and freezers, and a counter to the right. Behind the counter, there is a kitchen area, cloakroom, and toilet. To the back of the sales area, there are two storerooms and a delivery area.

The premises are rented on a 99-year lease, which finishes in 2089, for £750 a year.

All equipment will transfer over with the business sale, including the air conditioning unit, the EPOS till system, the CCTV system, the alarm system, the front window canopies, all new shelving, the new flooring, and much more.

The convenience store has a current stock value of £20k, whilst the hardware shop’s stock is worth around £6-8k.

This would be the ideal opportunity for a local resident, who knows the area.

There is huge potential for growth with this business, as there is a massive opportunity to increase advertising, grow the company’s social media presence, and extend the product range. There is also the option to expand the current opening hours and apply for a pavement license. Finally, it could be worth considering starting a newspaper round, offering home delivery for groceries, adding a Paypoint to the premises, and selling national lottery tickets.

Location

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  • Rural Location
  • Residential Location
  • Close to Local Businesses
  • High Footfall
  • Limited Competition

Property

Annual Rent
£750
Annual Rates
TBC
Lease Term (Years)
99
Lease Expiry (Years)
TBC
Accommodation Included
No
EPC Rating

Financial & More

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Company Accounts
XXXX
Trading Entity
XXXX
Management Structure
XXXX
Number of Employees
XXXX
Current Ownership
XXXX

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