Online second-hand instrument seller

Hobbyists, students, parents buying a first instrument and gigging musicians looking for good value gear.

You earn the margin between what you pay for an instrument and what you sell it for, plus small extras like strings, leads and cases.

• Knowing instruments and fair used prices
• Photography and clear online listings
• Negotiating with sellers
• Packing and posting fragile items

• Check whether you need council approval to run a business from home
• Check state rules for second-hand dealers, as some states require dealers to keep records or hold a licence
• Stolen goods risk: keep records of who you bought from and consider asking for ID
• Public liability and stock insurance, and check carrier insurance for fragile items
• Register for an ABN, and check when GST registration applies
• Tied-up cash in stock that may sell slowly

Estimates suggest startup costs are typically around $1,000 to $5,000, depending on how much stock you buy first, plus cleaning supplies, photography setup and packing materials. Stock can tie up cash if it sells slowly.

Monthly revenue is typically estimated at around $600 to $3,500, depending on the stock you buy, the prices you achieve and how quickly items sell. Many people start at around 8 hours a week.

Check whether you need council approval to run a business from home, and your state's rules for second-hand dealers, which may involve record keeping or a licence. Also check ABN and GST registration, insurance, and keep records of who you buy from.