Local independent hardware shop

Local households, renters and DIYers, plus tradies, landlords and small businesses who need something quickly and nearby.

You sell stock at a markup over wholesale cost. Extra income comes from services such as key cutting, gas bottle swaps and trade accounts for regular tradie customers.

• Product knowledge and happy to learn
• Stock control and ordering
• Friendly, patient customer service
• Basic bookkeeping

• Competition from large chains on price, so plan to compete on service, range and convenience
• Stock ties up a lot of cash, so check how much you need before opening
• Rules for selling dangerous goods such as gas bottles, solvents and some paints, check with your state's workplace safety regulator
• Council approval for the shop use and signage, and the terms of your lease
• Public liability, property and stock insurance, plus workers compensation once you hire staff
• Register for GST once turnover reaches the threshold, and check consumer law on refunds and product safety

Startup costs are typically estimated at around $80,000 to $300,000, depending on shop size, lease, fit-out and how much stock you buy. Stock ties up a lot of cash, so check how much you need before opening.

Monthly revenue is typically estimated at around $20,000 to $100,000, depending on location, range, pricing and local competition. This is revenue, not profit, and large chains may compete on price, so service and convenience matter.

Check rules for selling dangerous goods such as gas bottles, solvents and some paints with your state's workplace safety regulator. Also check council approval for shop use and signage, lease terms, insurance, workers compensation once you hire staff, GST registration and consumer law.