Formal wear boutique with a shopfront

Teens and parents buying for school formals, wedding guests, groomsmen and people dressing for events and work functions.

Mark-up on garments and accessories, plus extra income from hire, alterations and add-ons like shoes, jewellery and wraps. Sales peak around school formal and wedding seasons.

• Eye for style and fit
• Customer service and styling advice
• Buying and stock planning
• Basic bookkeeping

• Lease terms, rent and fit-out costs: check these before signing anything
• Public liability and contents or stock insurance
• Seasonal sales and unsold stock tied up after the season
• Consumer law rules on refunds and returns, check with your state consumer affairs body or the ACCC
• Workers compensation insurance and award wages once you hire staff
• GST registration once your turnover reaches the threshold

Estimates suggest startup costs typically around $30,000 to $120,000, depending on rent, fit-out and how much stock you buy. Check lease terms, rent and fit-out costs carefully before signing anything.

Monthly revenue is typically estimated around $10,000 to $50,000, depending on location, stock and season. Sales can be seasonal, and unsold stock may be tied up after the season, so plan your cash flow carefully.

Check lease terms, public liability and stock insurance, consumer law on refunds and returns with your state consumer affairs body or the ACCC, GST registration once turnover reaches the threshold, and workers compensation and award wages if you hire staff.