Neighbourhood Electronics and Accessories Shop

Local households, students and shoppers who want to see products, get advice and buy the same day.

Retail margin on products sold in store and online, with higher margins usually on accessories and bundles than on big-name devices.

• Product knowledge and friendly advice
• Stock buying and inventory control
• Running a shop day to day

• Commercial lease terms, deposits and fit-out costs, read the lease carefully before signing
• Stock tied up in slow-moving items, and prices falling as models age
• Provincial electronics recycling fees and product safety or wireless certification requirements, check what applies to your products
• Register for GST/HST and check provincial sales tax rules, and check municipal business licence and signage rules
• Commercial general liability and contents or theft insurance, plus WCB/WSIB coverage if you hire staff
• Quebec has French-language requirements for signage and product information, check if you are there
• Competition from large chains and online sellers, so decide how you will stand out

Estimates put startup costs typically around $40,000 to $150,000, depending on your premises, fit-out, deposits and opening stock. Read the commercial lease carefully before you sign, as its terms affect your ongoing costs.

Monthly revenue is typically estimated at around $15,000 to $60,000, depending on location, range and pricing. Slow-moving stock, falling prices as models age and competition from large chains and online sellers can affect results.

Check product safety and wireless certification, provincial electronics recycling fees, GST/HST and provincial sales tax rules, and municipal business licence and signage rules. Also check insurance, WCB/WSIB coverage if you hire staff, and French-language requirements in Quebec.