Start a local luggage and travel goods shop

Local shoppers, families heading on holiday, students and business travellers who want to see a bag before buying.

You sell stock at a markup over wholesale prices. Accessories and add-ons can lift the average sale, and some shops offer simple repairs.

• Retail and customer service
• Stock buying and ordering
• Managing a budget and a lease

• Commercial leases can be a big commitment, so get advice from a solicitor before signing
• Public liability insurance and cover for stock against theft and damage
• Check whether your council needs approvals for shop signage or fit-out
• If you hire staff, check workers compensation, award wages and super obligations
• Stock ties up cash and sales peak around holiday seasons, so plan your cash flow
• Check GST registration requirements and Australian Consumer Law obligations on refunds and repairs

Estimates suggest startup costs are typically around $25,000 to $100,000, depending on the premises, the fit-out and how much stock you buy. Stock ties up cash, so plan your budget around your opening range and your lease.

Monthly revenue is typically estimated at around $8,000 to $40,000, depending on location, product range and the time of year. Sales tend to peak around holiday seasons, so plan your cash flow. Revenue is not the same as profit.

Check the commercial lease with a solicitor, public liability and stock insurance, council approvals for signage or fit-out, GST registration, and Australian Consumer Law duties on refunds and repairs. If you hire staff, check workers compensation, award wages and super.