Leather goods shop with repairs

Locals and shoppers looking for gifts or everyday items, commuters and office workers, and tourists in busy areas.

Retail margin on products sold, plus fees for repairs, engraving or personalising items such as wallets and belts.

• Choosing good stock that sells
• Customer service and selling
• Basic stock and cash management
• Hand sewing or repair skills (helpful, can be learned)

• Commercial lease terms, including length, rent reviews and make-good clauses, so get advice before signing
• Australian Consumer Law obligations on refunds, repairs and consumer guarantees
• Be careful describing items as 'genuine leather' or 'Australian made', and check ACCC guidance on these claims
• Public liability and contents insurance, and check whether your council needs approval for shop signage or fit-out
• A lot of money can be tied up in stock, and sales can be seasonal
• Register for an ABN, and check when you need to register for GST

Startup costs are typically around $25,000 to $80,000, depending on the shop's rent and fit-out, how much stock you buy, and any repair equipment. Treat this as an estimate, as a lot of money can be tied up in stock.

Monthly revenue is typically around $8,000 to $40,000, depending on your location, stock and trading hours, from about 35 hours a week. Sales can be seasonal, so plan your cash flow.

Check your commercial lease terms, including length, rent reviews and make-good clauses. Check Australian Consumer Law on refunds and guarantees, ACCC guidance on 'genuine leather' or 'Australian made' claims, council approval for signage or fit-out, insurance, and ABN and GST registration.