Pezerinno Posted March 4, 2011 Share Posted March 4, 2011 Is this a stupid idea? Are newsagents dying out what with tesco metros on every corner? Keep in mind this is coming from an unskilled person so the potential of making say, £30k is a big incentive despite the ridiculous working hours needed. Link to comment Share on other sites More sharing options...
worzel Posted March 4, 2011 Share Posted March 4, 2011 Is this a stupid idea? Are newsagents dying out what with tesco metros on every corner? Keep in mind this is coming from an unskilled person so the potential of making say, £30k is a big incentive despite the ridiculous working hours needed. It would certainly be hard work. Location is crucial, not to close to a tesco express or similar. You are basically picking up trade for things that people forgot to buy from the supermarket. You should try and differentiate yourself by supplying local produce so you become a niche destination. Gotta be very careful about shop lifters, could cost you several hours profit very easily each time someone pinched a few things. You could also offer a parcel accepting service for people wanting to get things delivered that they'd ordered on the Internet. All in all it's a lot of work but must be possible to turn a profit or else there wouldn't be any of them left. Link to comment Share on other sites More sharing options...
Pezerinno Posted March 4, 2011 Author Share Posted March 4, 2011 Thanks for your reply. I think the greetings card market can be quite lucrative. Quite a few have living accommodation included as well which would save me at least £5k a year. Link to comment Share on other sites More sharing options...
Goat Posted March 4, 2011 Share Posted March 4, 2011 Is this a stupid idea? Are newsagents dying out what with tesco metros on every corner? Keep in mind this is coming from an unskilled person so the potential of making say, £30k is a big incentive despite the ridiculous working hours needed. TBH I think you'd be doing well to make 1/2 that. Working every hour for £15,000 p/a - no thanks. Link to comment Share on other sites More sharing options...
JoeDavola Posted March 4, 2011 Share Posted March 4, 2011 It will consume your life and won't pay well. Most of the newsagents where I used to live are closing down - they are nowhere near tescos and are beside three schools but are still closing down - the OAP's who used to frequent them are dying off and schoolkids don't call past because most of them get driven to school and back. Stay away would be my advice. Link to comment Share on other sites More sharing options...
Pezerinno Posted March 4, 2011 Author Share Posted March 4, 2011 TBH I think you'd be doing well to make 1/2 that. Working every hour for £15,000 p/a - no thanks. I think high 20s is obtainable going by the figures I've seen but I agree the hours are pretty horrendous (05:00-18:00). Link to comment Share on other sites More sharing options...
Pezerinno Posted March 4, 2011 Author Share Posted March 4, 2011 It will consume your life and won't pay well. Most of the newsagents where I used to live are closing down - they are nowhere near tescos and are beside three schools but are still closing down - the OAP's who used to frequent them are dying off and schoolkids don't call past because most of them get driven to school and back. Stay away would be my advice. Yes you're probably right! I wasn't really seriously considering it just musing... Link to comment Share on other sites More sharing options...
SarahBell Posted March 4, 2011 Share Posted March 4, 2011 One with energy key top up service should get regular custom but strong lager does not make nice clientele Link to comment Share on other sites More sharing options...
winkie Posted March 4, 2011 Share Posted March 4, 2011 Yes you're probably right! I wasn't really seriously considering it just musing... A newsagent I know were finding it hard but they diversified into lunch time food, they had a number of office blocks and other businesses near by so started to do sandwiches and rolls, made up fresh salads in containers with a folk, warm sausage rolls, Jamaican patties and samosas. Word got around and trade picked up...the food brought in people that then bought a newspaper, chocolate bar, packet of crisps and a drink....I think they had to change the license but it was quite straight forward because the only cooking was the microwave and a food warmer. Link to comment Share on other sites More sharing options...
Pezerinno Posted March 4, 2011 Author Share Posted March 4, 2011 A newsagent I know were finding it hard but they diversified into lunch time food, they had a number of office blocks and other businesses near by so started to do sandwiches and rolls, made up fresh salads in containers with a folk, warm sausage rolls, Jamaican patties and samosas. Word got around and trade picked up...the food brought in people that then bought a newspaper, chocolate bar, packet of crisps and a drink....I think they had to change the license but it was quite straight forward because the only cooking was the microwave and a food warmer. This is certainly interesting however in my case wouldn't really work that well due to the location of the store. As I say I wasn't looking at it seriously but I always value HPCers opinion especially on business/economic/financial matters. Link to comment Share on other sites More sharing options...
MrPin Posted March 4, 2011 Share Posted March 4, 2011 This is certainly interesting however in my case wouldn't really work that well due to the location of the store. As I say I wasn't looking at it seriously but I always value HPCers opinion especially on business/economic/financial matters. Father of a friend of mine ran a small newsagents/sandwich shop! When the local factories shut in the 80s he went bust! Risky business in my opinion! Link to comment Share on other sites More sharing options...
ken_ichikawa Posted March 4, 2011 Share Posted March 4, 2011 V risky. Last set of accounts I did was a newsagency, this was a while back 2 years maybe.... Anyway turn over was £360,000 which is quite typical for a news agency. Net profit was £16,000 split between husband and wife. They lost about £5000 worth of stock to theft every year... though it is a cash based business which means you can sell a lot of things for cash and simply not declare it. Link to comment Share on other sites More sharing options...
juvenal Posted March 4, 2011 Share Posted March 4, 2011 "Only two schoolchildren in the shop at any one time" Be warned. Link to comment Share on other sites More sharing options...
'Bart' Posted March 4, 2011 Share Posted March 4, 2011 Is this a stupid idea? Are newsagents dying out I don't think my local shopping area actually has a newsagent any more. If people want a paper they get it from the 7-11. Link to comment Share on other sites More sharing options...
Charlie The Tramp Returns Posted March 4, 2011 Share Posted March 4, 2011 Forget your dream it is false, Newsagents have been on the way out since the mid 80s. In one area which I knew well for 22 years there were 43 Newsagents, today that is down to six. Neil Hamilton sounded the death knell of the humble Newsagent in IIRC the early 90s. I spent 22 years of my life in the Newspaper Industry and can`t believe how they destroyed themselves. Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted March 4, 2011 Share Posted March 4, 2011 I spent 22 years of my life in the Newspaper Industry and can`t believe how they destroyed themselves. Where did you work Charlie? I worked briefly at NI. Link to comment Share on other sites More sharing options...
Charlie The Tramp Returns Posted March 4, 2011 Share Posted March 4, 2011 Where did you work Charlie? I worked briefly at NI. The London Evening Standard during the period when it was a great newspaper. Link to comment Share on other sites More sharing options...
profitofdoom Posted March 5, 2011 Share Posted March 5, 2011 It's like most small businesses that are being squeezed,it depends on the set up.I run a small car sales business with about 40 cars. Because I own the stock,have been trading off the same site since 1994 and put a lot of effort into solving customer's problems I scrape by.On average over the last five years I have earned the same as my wife who is a schoolteacher.However i work a six day week and have a couple of weeks a year off.I reckon that my hourly rate is around £12,which considering that I permanently have £200k of my own cash tied up isn't great. With the VAT rise I think that this year I will be lucky to make £25k.Were I stocking my site with the bank's money you could take £10k off that.Alternatively I could buy two BTL's and take 12k from those.I think that I am the last generation of genuine small businesses. Link to comment Share on other sites More sharing options...
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