Leasehold Newsagents located in the Birmingham Jewellery Quarter. Established business. Genuine retirement sale. Retail area (1,000 SQ FT). Scope for longer hours.
Veritas Business Sales are delighted to offer for sale this established Newsagents which is located in The Birmingham Jewellery Quarter. The business has been established for over 100 years and has been in the careful hands of our clients since 2000. They are now offering the business for sale so that they can enjoy a well deserved retirement.
Since ownership they have continually invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner operated by a husband & wife team and comes with no staffing liabilities and for year ending 31st August 2021 posted an annual turnover of £301,733 net of vat with a GP of £61,304 (20.32%). They retail groceries, stationary, cold drinks, milk, sandwiches, confectionery, newspapers (counter sales only, bill £500 per week), magazines, greeting cards, hardware, medicines, toiletries, tobacco, vape products, beers, wines and spirits. Other services include a takeaway coffee machine, bus passes, The National Lottery (sales £2,500 weekly) and Payzone (sales £1,000 per week).
We believe that there is further potential to increase trade by expanding upon the current opening times, introducing newspaper deliveries, offering a parcel drop/collection services and by offering food on the go. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting shoppers. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this is one not to be missed.
