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Early bird catches the news business.

A long-established newsagent's with a good profit margin has come up for sale in a County Durham village.

Chipchase News in West Cornforth High Street, Ferryhill comes with a spacious four-bedroom family house and is ideal as a family-run venture.

It is on the main street with ample on-street parking to the front. There are several other shops and businesses close by as well as infant and junior schools.

The house in the mid-terrace has its own private entrance and hallway.

It has a spacious lounge and archway to a separate dining room plus a modern fitted kitchen to the rear.

On the first floor is a half landing with one double bedroom, a further landing with one single bedroom to the front, two double bedrooms to the rear and a bathroom with modern suite.

Both house and shop are fitted with alarms and there is an enclosed back yard with two outhouses.

The business has an average weekly turnover of pounds 4,000 and a newsbill of pounds 2,000, with a high gross profit margin of 22%.

It trades primarily as a newsagent's with additional sales of confectionery, greetings cards, toys and gifts, a small selection of convenience foods and household goods, tobacco, chilled drinks, stationery, crisps and ice cream.

The business has been under current ownership for just over a year and family commitments have reluctantly forced them to place the business on the market.

However, the newsagent's has been in existence for at least 30 years.

Trading hours are currently 5am to 5pm Monday, Tuesday, Thursday and Friday (one hour for lunch) and 5am to 12.30pm Wednesday, Saturday and Sunday.

It is run by a husband-and-wife team with the help of two part-time staff working 13 hours between them.

At present, the shop offers a typical but very well run newsagent business. However, an incoming operator may wish to look at the possibility of increasing hours and introducing new products.

It is also worth while noting that there is currently no National Lottery outlet in the village.

Chipchase News, High Street, West Cornforth, is for sale through Christie & Co at pounds 179,000 for the freehold. Tel (0191) 222-1740.
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Publication:The Journal (Newcastle, England)
Date:Apr 29, 2006
Words:364
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