CONVENIENCE STORES: THEY ARE STILL ON THE TOP OF THE SHOPPING LIST
CONVENIENCE STORES :
The convenience store has changed drastically in the last years as it’s n more the resilient sector people thought it was.
New researchers show the once called “Corner Shop” is actually one of the businesses impacting the local area the most, second only to Post Offices, which you often find also within them.
The Association of Convenience Stores (ACS) reported in their latest Local Shop Report that the total value of sales in the convenience sector exceeded £37bn for the 12 months to April 2016.
In the UK
there are over than 50,000 convenience shops, 70 %. Which independently owned and the remaining part is owned by corporate multiple operators.
The demand of convenience store is highly increasing. The demand is usually driven by potential sales and profits but other criteria are location, tenure, rent, accommodations above and lack of competition.
If you thinking about buying
a convenience store, you should also consider other criteria and not only the amount of the weekly sales. Consider also the profit and potential of the store.
In order to ascertain a purchase price, corporate retailers would assess the current sales. So they require rebranding the business in their future projections and what investment is.
Comparatively, the independent retailer would usually consider the current status of the business more than the future potential. In recent years, the convenience store leg of many supermarket chains has seen the biggest growth. Therefore in their overall business and therefore an appetite for more stores remains high throughout the UK.
Whether corporate or independent, the market remains strong for convenience stores of all different types. It just so happens to be stronger for ‘high sales’ resulting in a ‘higher sale price’.
If you are thinking about selling, just get in touch with us today for a free valuation.