Small jewellery shop with repairs

Local shoppers, gift buyers, engaged couples and people needing a treasured piece repaired.

Retail margin on jewellery and gifts, plus repair and resizing fees and occasional custom orders.

• Retail and customer service
• Knowledge of metals, stones and pricing
• Stock buying and cash flow management

• Stock is a big upfront cost and can sit unsold for months
• Check lease terms, rent reviews and council rules for signage and fit-out
• Insurance for stock, theft and public liability, and a secure display and safe
• Australian Consumer Law applies to refunds, repairs and accurate descriptions of metals and stones
• Check anti-money laundering and cash transaction reporting obligations for high-value sales with the relevant authorities
• Register for GST once turnover reaches the threshold

Startup costs are typically around $30,000 to $120,000, depending on your opening stock, lease and bond, fit-out, secure display and insurance. These are estimates, and stock can sit unsold for months, so plan your cash flow.

Monthly revenue is typically around $8,000 to $40,000, depending on your location, stock range, repair work and the pricing of your pieces. This is an estimate of revenue before stock, rent and wages.

Check lease terms, rent reviews and council rules for signage and fit-out. Also check insurance for stock, theft and public liability, Australian Consumer Law obligations, anti-money laundering and cash transaction reporting for high-value sales, and GST registration once turnover reaches the threshold.