Bargain Booze symbol group owner Conviviality is offering retailers up to £50,000 to convert their stores to either Bargain Booze or Select Convenience fascias.

The new ‘Switch, sell, strengthen’ financing scheme is aimed at retailers considering moving to a new fascia, those looking to sell up and existing Bargain Booze retailers looking to expand into a new site.

For switchers, the scheme offers up to £50,000 to make store improvements. For sellers, the company offers itself as a buyer.

For those looking to expand Conviviality will cover upfront and refit costs, with the upfront costs and 50% of the refit costs to be paid back by the retailer over an agreed time period. The company said it will buy back the store at the end of the payback period if the retailer wishes.

Those looking to expand will also be able to pick a site themselves or use Conviviality’s optimal location tracker.

“We know initial costs can be a key barrier to setting up or expanding a business, so we’re confident our new licence approach will help encourage more retailers to join our franchise,” said operations director John Pattison.

The news comes as the company announced a second round of share rewards for Bargain Booze retailers that meet its standards. In total 217 franchisees received shareholdings relative to the number of stores they own and the standards level achieved. One share in parent company Conviviality currently costs £4.15 and the minimum allocation is 1,000 shares, representing a gift of £4,150 to each recipient.