Villagers plan to save their only shop by buying it themselves.
They are forming a community group to run the Old Village Stores and sub-post office at Slinfold, near Horsham, on a non-profit-making basis.
They became concerned their only shop could go when owner Bennie Bridgland put it up for sale because she planned to retire to Scotland.
Dewar Donnithorn-Tait, chairman of a village committee set up to form Slinfold Village Enterprises, said: "Villagers are very worried about losing their only shop.
"We have a lot of young mums without cars and elderly people who live in sheltered accommodation - they all need a local shop. The post office is used by many of the 1,700 villagers and by people from surrounding areas.
"We are concerned someone might buy the shop with the intention of turning it into a house or they might open a shop but then move on, leaving us in the same position we are in now."
The committee plans to raise £150,000 by applying for grants from the Post Office, Horsham District Council and the Countryside Agency.
It will also sell single shares for £20 to anyone in the village who wants to be part of the scheme, giving them a right to vote on how the shop is run.
Mr Donnithorn-Tait said: "The shares will raise some of the money we need but the main reason for issuing them is to get the people involved."
Mrs Bridgland, who has run the shop for 21 years, said a few people had viewed the premises but she had not received any offers yet.
She said: "I bought the shop when it was derelict and built it up. It would have been sad to leave and close the door of an empty shop. I'm thrilled by the prospect of villagers buying it."
Slinfold Village Enterprise will be set up as an industrial provident society.
The committee needs to find a postmaster or postmistress by mid March.
Mr Donnithorn-Tait said: "We would then consider selling other products and local produce villagers would want to buy."
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