Small jewellery shop with repairs and engraving

Local shoppers buying gifts, couples choosing engagement and wedding rings, and customers with items to repair or engrave.

Mark-up on jewellery and gifts sold, plus fees for repairs, resizing, batteries and engraving. Repairs and engraving can earn steady income between big sales.

• Customer service and gentle selling
• Knowing metals, stones and watches
• Careful stock buying and pricing
• Basic repair skills or a trusted bench jeweller to work with

• Insurance for stock, theft and customers' items left for repair (ask about jeweller's block cover) plus commercial general liability
• Rules on quality marks and describing gold, silver and platinum (check the federal Precious Metals Marking Act and the Competition Bureau's guidance)
• Municipal business licence, zoning and commercial lease terms, which differ by city
• GST/HST or provincial sales tax registration; rules differ by province, and Quebec has its own rules and French-language requirements
• Stock is a big upfront cost and sales peak around holidays, so plan your cash flow
• Security: safes, alarms, cameras and a clear policy for handling valuables

Estimates suggest startup costs typically around $30,000 to $150,000, depending on your lease, fit-out, security and how much stock you buy. Monthly revenue is typically estimated at around $7,000 to $35,000, depending on location, range and repair services.

Check the federal Precious Metals Marking Act and Competition Bureau guidance on describing gold, silver and platinum. Also check your municipal licence, zoning and lease terms, GST/HST or provincial sales tax registration, Quebec's French-language requirements, and insurance for stock and customers' items.

Useful skills include customer service, knowledge of metals, stones and watches, careful stock buying and pricing, and basic repair skills or a trusted bench jeweller. Estimates suggest at least about 35 hours a week, depending on opening hours.