Small menswear shop

Local men buying for work, weddings and events, plus partners shopping for gifts.

You sell stock at a markup over wholesale cost. Extra income can come from suit packages, accessories like ties and belts, and alterations passed on to a tailor.

• Knowledge of fit, fabrics and style
• Customer service and selling
• Buying and stock control
• Managing a budget and rent

• Commercial leases can be long and costly, so get advice before signing
• Public liability and shop contents insurance are worth checking, and workers compensation once you hire staff
• Check with your local council about shop signage and fit-out approvals
• Check when you need to register for GST
• Fashion changes and unsold stock can hurt cash flow, so buy cautiously and plan sales

As an estimate, startup costs are typically around $30,000 to $120,000, depending on rent and fit-out, opening stock and signage. Monthly revenue is typically around $8,000 to $40,000, depending on location, range and how well you sell.

Check commercial lease terms, as leases can be long and costly, so get advice before signing. Also check public liability and contents insurance, workers compensation once you hire, council approvals for signage and fit-out, and when you need to register for GST.

Estimates suggest at least around 40 hours a week. Useful skills include knowledge of fit, fabrics and style, customer service, buying and stock control, and budgeting. Buy cautiously, since unsold stock can hurt cash flow.