Novelty and gag gift shop

Shoppers buying last-minute gifts, party-goers, parents, teens, office gift-givers and tourists in busy areas.

You buy stock wholesale and sell at a markup. Most sales come from low-priced impulse items, with bigger sales around gift seasons and events.

• Spotting fun products that sell
• Stock buying and budgeting
• Friendly customer service
• Eye-catching displays

• Commercial lease terms, including bond, rent reviews and fit-out costs, so get advice before signing
• Product safety rules for toys and novelty items, especially for children, and banned or mandatory-standard products (check the ACCC)
• Imported stock can be copied or branded merchandise, so check you are not selling counterfeit or unlicensed items
• Sales are seasonal, so plan cash flow for slow months
• Check whether GST registration is needed once turnover reaches the threshold

Startup costs are estimated at typically around $25,000 to $90,000, depending on your lease, bond, fit-out and opening stock. Get your own quotes and advice on commercial lease terms before you sign.

Estimates suggest monthly revenue of typically around $8,000 to $35,000, depending on location, foot traffic and stock range. Revenue is not profit. Sales are seasonal, so plan cash flow for slower months, with about 40 hours a week at least.

Check commercial lease terms, including bond, rent reviews and fit-out costs. Check product safety rules for toys and novelty items with the ACCC, and make sure you are not selling counterfeit or unlicensed branded items. Check GST registration too.