Handbag boutique shop

Local shoppers, gift buyers and visitors in shopping strips, centres or tourist areas.

You sell stock at retail prices above the wholesale cost. Profit depends on rent, stock turnover and how well you manage discounts and seasons.

• Buying stock that sells
• Retail display and customer service
• Managing budgets, rent and stock

• Read lease terms carefully, including bonds, rent reviews and length, and consider getting advice before signing
• Public liability and contents insurance are worth checking
• Workers compensation insurance is needed once you hire staff, so check your state scheme
• Check council rules on signage and shop fit-out
• Unsold stock can tie up cash, so start with a small range
• Avoid counterfeit designer goods, which can breach trade mark law

Startup costs are typically around $25,000 to $100,000, depending on your lease, shop fit-out and opening stock. These are estimates, so start with a small range and get quotes before you sign a lease.

Read lease terms carefully, including bonds, rent reviews and length, and consider getting advice before signing. Also check insurance, council rules on signage and fit-out, workers compensation once you hire staff, and avoid counterfeit designer goods.

Monthly revenue is typically around $6,000 to $30,000, depending on location, range and foot traffic. Expect at least about 35 hours a week. Unsold stock can tie up cash, so these estimates need careful budgeting.