Our next shop

Part of our medium term plans are to open more charity shops to increase fundraising.

Charity shops can deliver healthy levels of income but depend on many factors including location, overheads, recruiting a good manager, access to donated stock, recruiting a dedicated team of volunteers and so on.

But, there is also a risk. The terms need to be sufficient for the charity to exit if things do not work. There is inevitably start up costs that can run in to a low four figure sum (though this depends on the condition and size of the leased property).

We are pleased to have concluded our search for a second shop and have agreed through the agent some major points for a lease subject to a contract. Hopefully this can be resolved quickly over the next few weeks so that we can open our second shop before the end of May.

As a charity becomes established the income from voluntary donations and legacies increases. As a new charity these sources of income are not as common and therefore those incomes classed as Activities for Generating Fund in the SORP are paramount.

Our first charity shop has delivered an excellent return to the charity and we will use a model similar to our Kidderminster shop as we open branches in the future.