Joy and Dave Gaynton have run the shop, in Uley, near Dursley, for more than 10 years but plan to retire next June.
The couple said they had already put the business on the market three years running, but failed to find a buyer.
Villagers have voted to set up a steering committee to look at the possibility of a community-run shop if a new owner cannot be found.
Parish councillor Janet Wood said it was fundamental to life in Uley.
"It's where we get all the village information, posters are put up and apart from buying goods, it's just a very important social centre," she said.
"It would be very difficult for people to manage [without it] and it's always the older people, the younger people, people without cars who take the hit."
Mrs Gaynton said: "I really wanted to sell it as an ongoing concern because it's a big part of Uley and as I've invested so much time and effort into it myself, it would be sad to see it go.
"My husband retires from teaching in a few years' time and my parents are getting older. My children have left the nest so it's time to move on for us."
Residents in a Gloucestershire village could take over their local post office store to save it from closure.