Precision tool and die workshop

Local manufacturers, plastics and metal fabricators, product designers and engineering firms that need custom tooling or one-off parts.

Quoted price per job or tool, based on machine hours and materials. Repeat maintenance and rework from the same customers adds steadier income.

• Toolmaking or machining trade background
• CAD/CAM programming
• Reading engineering drawings and working to tight tolerances
• Quoting and managing jobs

• Public liability and product liability insurance, and workers compensation once you hire
• Workplace health and safety duties for machinery, check with your state's WHS regulator
• Council zoning for industrial use, noise and coolant or waste oil disposal rules
• Check whether your trade qualifications are needed for the work you plan to offer
• Dependence on one or two big customers, and slow payment terms

Startup costs are typically estimated at around $80,000 to $250,000, depending on the CNC mills, lathe and finishing equipment you buy, and the industrial unit you rent. New versus second-hand machinery can change the figure considerably.

Monthly revenue is typically estimated at around $15,000 to $60,000, depending on your machines, the mix of mould, die and jig work, and how many customers you serve. The estimate assumes roughly 40 hours a week.

Things to check include public liability and product liability insurance, workers compensation once you hire, workplace health and safety duties for machinery with your state regulator, council zoning, noise and waste oil disposal rules, and whether trade qualifications are needed.