Second-hand music shop

Local musicians, students, parents, school music programs and people trading up or clearing out old gear.

Margin on resold instruments, plus accessory sales, small setup or restringing fees and part-exchange deals that bring in more stock.

• Strong knowledge of instruments and their value
• Customer service and negotiation
• Basic repairs and setups
• Stock and cash management

• Commercial lease terms and council zoning or signage approval, so check with your local council
• Check state second-hand dealer rules, which may include licensing and record keeping
• Stolen goods risk: keep clear records of sellers and ID
• Public liability, contents and theft insurance, and workers compensation once you hire
• Register for an ABN, and check when GST registration applies
• Slow-moving stock and rent can strain cash flow, so budget for quiet months

Estimates suggest startup costs are typically around $15,000 to $60,000, depending on your opening stock, lease deposit, fit-out and insurance. Slow-moving stock and rent can strain cash flow, so budget for quiet months.

Monthly revenue is typically estimated at around $6,000 to $30,000, depending on your location, stock quality and trade-in volume. That is revenue before rent and stock costs. Expect to work at least 35 hours a week.

Check your commercial lease terms, council zoning and signage approval, and your state's second-hand dealer rules, which may include licensing and record keeping. Keep clear seller records and ID, and check insurance, ABN and GST registration.