Local discount variety shop

Price-conscious families, students, retirees and anyone after everyday items at a low price.

You buy in bulk, add a markup and sell at low prices. Profit comes from steady foot traffic, quick stock turnover and keeping rent and wages under control.

• Spotting good-value stock
• Negotiating with suppliers
• Basic bookkeeping and stock control
• Customer service

• Lease terms, rent reviews and fit-out costs, so have a solicitor check the lease before signing
• Product safety rules for items like toys, electrical goods and children's products; check with the ACCC and your state fair trading body
• Thin margins mean slow-selling stock ties up cash quickly
• GST registration once turnover reaches the threshold, and check council requirements for signage and trading

Startup costs are typically estimated at around $25,000 to $100,000, depending on your opening stock, fit-out and lease terms. Have a solicitor check the lease before signing, as rent reviews and fit-out costs can add up.

Monthly revenue is typically estimated at around $15,000 to $60,000, depending on your location, range and foot traffic. This is revenue, not profit, and the estimate assumes at least about 40 hours a week.

Check product safety rules for items like toys, electrical goods and children's products with the ACCC and your state fair trading body. Also check GST registration once turnover reaches the threshold, and council requirements for signage and trading.