Small jewellery shop with repairs and engraving

Locals buying gifts, engagement and wedding jewellery, and people needing repairs, batteries or engraving.

Margin on jewellery, watches and gifts, plus fees for repairs and engraving. Special occasions such as Christmas, Mother's Day and Valentine's Day bring the busiest trading.

• Customer service and selling
• An eye for products and pricing
• Basic repair or engraving skills, or a trusted bench jeweller to partner with

• Stock, theft and public liability insurance, and security such as a safe and cameras
• Australian Consumer Law: check the ACCC rules on describing metals, gemstones and warranties accurately
• If you buy second-hand or scrap jewellery, check your state's second-hand dealer rules
• Lease terms, rent increases and holding too much slow-moving stock
• Register for an ABN, and for GST once you reach the turnover threshold

Startup costs are typically around $25,000 to $90,000, depending on the premises, fit-out, security and how much stock you buy. These are estimates only, so get lease terms and supplier pricing before you commit.

Monthly revenue is typically around $8,000 to $40,000, depending on your location, product range and how much repair and engraving work you attract. That is revenue before stock, rent and wages, so treat it as an estimate only.

Check insurance for stock, theft and public liability, plus security such as a safe and cameras. Also check ACCC rules on describing metals, gemstones and warranties, your state's second-hand dealer rules if you buy second-hand jewellery, lease terms, and ABN and GST registration.