Neighbourhood discount variety store

Price-conscious families, students, newcomers setting up a home, seniors on fixed incomes and anyone needing a quick, cheap item.

You buy in bulk from wholesalers, importers and liquidation sources, then sell at a markup. Profit depends on fast-moving stock, low rent and keeping waste down.

• Buying and negotiating with suppliers
• Stock control and pricing
• Friendly customer service
• Basic bookkeeping

• Product safety rules for items like toys, cosmetics and children's goods, check Health Canada requirements before you buy stock
• Labelling rules for packaged goods, including bilingual labelling, and French-language requirements if you open in Quebec
• Municipal business licence, zoning and signage rules, check with your municipality
• Collecting GST/HST or provincial sales tax, check with the Canada Revenue Agency and your province
• Commercial general liability and contents insurance
• Seasonal swings, with winter holiday sales strong but slower months needing cash in reserve

Estimates suggest startup costs typically around $40,000 to $120,000, depending on the size of the unit, fit-out and how much opening stock you buy. Lease terms and stock choices affect where you land in that range.

Monthly revenue is typically estimated at around $15,000 to $60,000, depending on location, range and opening hours. Winter holiday sales can be strong, but slower months need cash in reserve.

Check Health Canada product safety requirements for items like toys and cosmetics, labelling rules including bilingual and Quebec French requirements, municipal licence, zoning and signage rules, GST/HST or provincial sales tax, and liability and contents insurance.