Small gift shop in your local shopping strip

Locals buying birthday, wedding and baby gifts, plus tourists and visitors looking for something to take home.

You buy stock wholesale and sell at a markup. Cards and small items bring steady sales, while peaks like Christmas and Mother's Day lift income.

• Picking products that sell
• Friendly customer service
• Stock control and basic bookkeeping

• Lease terms, rent reviews and fit-out costs, ideally get advice before signing a commercial lease
• Public liability and contents insurance, plus an ABN and GST registration once you reach the turnover threshold
• Slow seasons and unsold stock tying up cash, so plan your cash flow
• Check labelling and safety rules for certain products, such as children's items and candles, with the ACCC or your state fair trading body

Startup costs are typically estimated at around $25,000 to $90,000, depending on your location, lease, fit-out and opening stock. Get advice before signing a commercial lease, as rent reviews and fit-out costs can change the total.

Monthly revenue is typically estimated at around $6,000 to $30,000, depending on your location, product range and foot traffic. Revenue is not profit, and slow seasons and unsold stock can tie up cash. Allow at least about 35 hours a week.

Check lease terms, rent reviews and fit-out costs, ideally with advice before signing. You'll need public liability and contents insurance, an ABN, and GST registration once you reach the turnover threshold. Also check labelling and safety rules for items like children's products and candles with the ACCC or your state fair trading body.