Headway UK Retail Workshop Way Ahead 2017 What to expect if you want to open a charity shop.   How to set up a shop, how much it will cost and what you can expect in income. How to get what you will need:- people, stock and procedures. Other opportunities to raise income from Retail Activities.

Expectations Challenging Retail environment Hard work You can make a loss as well as a profit HW UK shop net profit range from £11k to £50k Higher profits are from well established shops We only do Retail, it has to be managed

Choosing the Right Location Footfall Counts 500 people per hour Size 650-1000 sq ft Access Number of floors Parking/transport facilities High Street/Shopping Centre/Other Banking facilities

Costs Annual achievable sales 3.5 X Rent to realise a £10k Profit Rent £5k-£23K average £16K Set Up Costs £40-£45k Annual running costs £40-45K We have one or two at £9k then anything in between to £16k Increase costs have to increase turnover This is based on paying a full time manager and a 1 day deputy

New Shop Set Up Shop Fitters Signage Utilities Rates Relief Fixtures and Fittings Recruitment Stock Acquisition

Day to Day Management Stock Processing Cash Handling Policies and Procedures Managing the Business Managing the People Carol D bars hold 65 items process at least 100 per day, 1000 capacity is usual, take off everyday, record the information Have strict cash handling procedures bank daily

General Gift Aid Charity Retail Association New Goods E Bay Furniture Electricals Trading Company

Way Ahead 2017 Any Questions

Resources www.charityretail.org.uk www.knowhownonprofit.org www.hmrc.gov.uk/charities headofretail@headway.org.uk retail.areamanager.north@headway.org.uk