The incident happened at around 9am on Thursday, March 28 at the One Stop shop on Oatland Lane in Leeds.
A spokesman for West Yorkshire Police said: "Two masked males armed with hammers attacked the security guards while they were carrying cash into the shop."
"The security guards fought off the suspects who left the scene in a black Volkswagen car.
"The car was later found abandoned and set on fire on Stoney Rock Grove, it is believed the suspects left that site in another vehicle."
One security guard suffered injuries to his arm during the attack and has been taken to hospital for treatment.
Police say his injuries are not described as life-threatening.
The force do not believe the suspects took any money and their investigations are ongoing.
Witnesses or anyone with information about either the incident or the vehicle being set on fire is asked to contact police on 101 quoting crime reference 13190160268.
For those who wish to remain anonymous, information can also be passed to the independent charity Crimestoppers on 0800 555111.