Convenience Store for salePalmers Papers, 87 Bulford Road, Salisbury, Wiltshire, SP4 8HA
- Business for sale
- Established store in village centre
- Y/E 31/03/17: GP £146,799, ANP £79,615
- Core weekly sales over £10,000
- Potential to increase opening hours
- Extremely low rent of just £5,500 per year
- Energy Rating C
Palmers Papers offers many traditional newsagency services including a large and highly profitable newsround (c.500 papers per day), with an average weekly news bill of £4,800.
The store also sells a wide range of convenience, off licence and stationery products. The gross profit margin is in excess of 25% and the overall profitability of the store is excellent.
Durrington is a large village c.10 miles north of Salisbury in the county of Wiltshire.
Palmers Papers is extremely well placed in the heart of the village in a small shopping parade and has been established for over 30 years.
According to the 2011 census, the population of Durrington was 7,379 and this is likely to have increased due to the number of large housing developments in the immediate vicinity, as well as the anticipated influx of military personnel returning from Germany.
The lock-up store is well laid out with a wide range of shelving, display and refrigeration units. Beyond the retail sales area is a store room and toilet.
The store could benefit from modest updating and refreshing of the internal décor.
The vast majority of the fixtures and fittings are owned outright and will be included in the sale.The Opportunity
This highly profitable store represents an excellent opportunity for a new owner. It is currently trading independently and as such, there is considerable opportunity to increase trade by entering a supply agreement with one of the Symbol groups.
Retirement sale of a stable and established business.
Opportunity to increase trading hours to capitalise on early evening trade, especially as the store is located next to a takeaway.
The store is currently run by a husband and wife team with the assistance of newspaper delivery staff.
There are three part time staff (c.30 hours per week), giving rise to the opportunity for a new operator to further boost profitability if these hours were reduced. Alternatively, a new owner could enjoy a pleasant lifestyle if they keep the existing staff and the relatively short opening hours (the store currently closes at 6.30pm).
The business performance over the last three years shows a highly established and consistent business with excellent profitability.
The accounts for the year ending 31/03/17 show a turnover of £531,937 from core sales (core weekly sales of £10,229). The gross profit including commissions is £146,799 and the adjusted net profit is £79,615.
The business currently benefits from 100% business rates relief.Regulatory
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- Grateley (7.0 mi)
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