Custom jewellery studio and repair shop

Couples ordering rings, people remodelling inherited jewellery, and shops or designers needing skilled bench work.

Design and making fees on custom commissions (materials plus labour), repair and resizing charges, and some ready-made pieces sold in the studio.

• Jewellery design and making
• Metalwork and stone setting
• Consultations and sales
• Basic bookkeeping

• Public liability, stock and theft insurance, and cover for customers' items; valuables are a target so check security requirements
• Lease terms and whether the premises are approved for your type of use
• Gold price changes affecting your costs, so quote with a short validity period
• Second-hand dealer rules and record keeping when buying scrap gold; check your state's requirements
• Accurate descriptions of metal purity and any hallmarks or stamps you use, to meet consumer law

Estimates suggest startup costs are typically around $10,000 to $40,000, depending on your premises, fit-out, bench equipment, metal and stone stock, and security. Shared retail space may sit towards the lower end.

Check insurance for liability, stock, theft and customers' items, plus security requirements. Check lease terms and approved use of the premises, your state's second-hand dealer rules for scrap gold, and consumer law on describing metal purity and hallmarks.

Estimates suggest monthly revenue is typically around $3,000 to $12,000, depending on the mix of bespoke commissions and repairs, and your location. Plan on at least about 25 hours a week. Gold price changes can affect your costs.