Norwich Convenience Store for Sale: 18-Year History, £50K Leasehold, £278K Annual Turnover
Norwich, Norfolk
- Status
FOR SALE
- Date Submitted:
11/05/23
- Advert ID
512989
- Leasehold: £50,000 (Stock at valuation)
- Turnover: £278,248 (£5,351 Per week)
- Net Profit: On request
Key Features
- Small Business
- Prime Location
- Fully Fitted
- High Turnover
Business Details
Edwards Convenience store for sale in Norwich
A successful convenience store is currently for sale in Norwich, Norfolk. The business has a solid history, having been established for 18 years, and has been under my ownership for the past 2 years. The leasehold price is set at £50,000, with a current annual turnover of £278,248. The asking price is negotiable, providing flexibility for interested buyers.
The store is situated in a prime location, close to a main road, making it easily accessible to customers. There is little to no local competition in the area, allowing the convenience store to attract a steady flow of patrons. The sale of the business includes all fixtures and fittings, and the shop has been recently refurbished, creating a pleasant and welcoming environment.
Unfortunately, due to a change in family circumstances and sudden bereavement, the decision to sell the store was made. The store currently operates from 6 am to 7 pm, with the option to extend opening hours until 10 pm. The business employs two staff members who assist with daily operations.
There is significant potential for growth and expansion, particularly with the option to partner with popular delivery services such as Deliveroo and UberEats. Although there were plans to forge these partnerships, they could not be implemented due to the unexpected change in circumstances. To aid with a smooth transition, we are prepared to offer training opportunities to the new owners, ensuring they are equipped with the knowledge and skills required for continued success.
Currently, the store generates £1,650 per week from newspaper and newsagent sales alone. With the acquisition of an alcohol license, the store can likely generate an additional £7,000 per week in revenue. This opportunity is perfect for those seeking to own and grow a small business.
For complete details about this exciting venture, please do not hesitate to contact me.
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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