Start a home-based watch repair bench

Individuals with watches they value, plus local jewellers and gift shops that outsource repairs.

A fixed price per repair or service, plus parts. Regular work from one or two jewellers can give steady income between private jobs.

• Steady hands and patience
• Fine detail work
• Learning watch movements through training
• Clear, honest customer communication

• Check whether your council needs approval for a home-based business
• Public liability insurance, and cover for customers' watches while in your care
• Valuable watches carry risk, so be clear about what you will and won't work on
• Keep careful records and receipts for each watch received and returned
• Check GST registration once your turnover reaches the threshold

Startup costs are typically estimated at around $800 to $4,000, depending on the tools, bench setup, training and insurance you choose. Costs rise if you want equipment for servicing mechanical movements.

Monthly revenue is typically estimated at around $400 to $2,500, depending on how many repairs you take on, your pricing and whether local jewellers send you work. It can start from around 8 hours a week.

Check whether your council needs approval for a home-based business. Check public liability insurance and cover for customers' watches in your care, keep careful records for each watch, and check GST registration once your turnover reaches the threshold.