Shop Owners !

[IceBoy]

Hi All,

I just fancy a change from office life and am thinking about running a shop !

Preference would be off-licence-general stores.

Could someone shed some light of what the profit margins are on general stores??

Thanks
IceBoy

PS. Not just thought of the change today but have been thinking for a while now.

[vex]

IMO a very tough business when your in compatition with the tescos and sainburys of the world.

Ideally you need either the only local general store shop for a good 5 / 10 miles or a niche market type store.

[roadsweeper]

vex said:

IMO a very tough business when your in compatition with the tescos and sainburys of the world.

Ideally you need either the only local general store shop for a good 5 / 10 miles or a niche market type store.

Agreed. Small shops can be successful but location and niche are critical.

The most successful shop in our village is a Health Food shop - it's the only shop that has expanded over the last few years. I think they've done well because they're in a relatively affluent area where demand for health products is high (people tend to be better educated as regards what is healthy and have the money to pay the higher prices) and they're in a good niche.

[IceBoy]

I totally agree with:

Niche
Location

I also believe that the two USP's (unique selling point/proposition) can be sucessful even if they are mutually exclusive.

IceBoy

[Mattt]

The Waitrose equivalent Corner shop?

Sounds a good idea actually, set up in an affluent area, sell decent beers (micro-brewey/guest ales stuff) & wines along with healthy (organic maybe) foods - obviously retaining cheaper lines for commoners!!

[furtive]

Lots of ££ to be made if you are prepared to work very very long hours 7 days a week and take no holidays ever.

[Mattt]

furtive said:

Lots of ££ to be made if you are prepared to work very very long hours 7 days a week and take no holidays ever.

A family friend used to have a series of convenience stores, the father died of a heart attack at an early age (lots of hard work & stress - 7 days weeks, long hours), he held on long enough in the hospital for his wife to arrive so he could pass on the business plan for the next few years, what to sell, what to buy. Certainly gave it his all!!

[POORCARDEALER]

I owned two health food shop at 21, it was a very profitable niche market then, everybody sells "health food" now, so I am sure the margins are not what they were, however I think a good deli type shop in the right area is a winner...........a guy I know owns an ice cream parlour and its made him very wealthy.