Gold and jewellery buying shopfront

Local people selling jewellery for cash, plus refiners and wholesale buyers who pay you for the scrap metal. If you resell pieces, shoppers pay for those too.

You buy below the metal's current value and sell to refiners above your cost. You can also resell good-condition second-hand jewellery at a higher margin.

• Metal testing and valuing
• Negotiating fairly
• Record-keeping and compliance
• Shop security awareness

• Second-hand dealer or pawnbroker licences vary by state and territory, so check your state's rules
• Police record-keeping and holding periods for second-hand goods may apply, so check what your state requires
• Check whether AUSTRAC anti-money-laundering obligations apply to you
• Robbery risk and cash handling, so look at security and stock insurance
• Lease commitments and fit-out costs before you know your foot traffic
• Public liability insurance, and workers compensation insurance once you hire staff

Startup costs are typically estimated at around $25,000 to $80,000, depending on the lease, fit-out, security and your buying budget. Check lease commitments and fit-out costs before you know your foot traffic.

Monthly revenue is typically estimated at around $15,000 to $70,000, depending on foot traffic, the metal you buy and sell on, and any resale pieces. Treat these as estimates, with rent and security costs to cover.

Check second-hand dealer or pawnbroker licences for your state or territory, and police record-keeping and holding periods. Check whether AUSTRAC obligations apply, security and stock insurance, public liability insurance, and workers compensation once you hire staff.