Antiques shop or shared unit

Local shoppers, tourists, collectors, interior designers and other dealers.

The margin on each item sold, plus extras such as restoration, valuations or commission sales for others, after rent, rates and other running costs.

• Knowledge of antiques and how to value them
• Buying well and pricing fairly
• Display and merchandising
• Customer service and negotiating

• Lease terms, rent reviews and business rates, check whether you qualify for any rate relief
• Shop insurance covering stock, public liability and theft
• Fakes and misdescribed items, so check provenance and be honest about condition
• Rules on ivory and other restricted materials, check the current UK law
• Rules on second-hand goods and anti-money-laundering checks for cash dealers, check what applies to you
• Slow stock turnover can tie up your money, so keep a close eye on cash

Startup costs are typically around £3,000 to £15,000, depending on whether you rent a shared space or a whole shop, plus your stock and fit-out. These are estimates, so compare your own rent and stock costs.

Monthly revenue is typically around £1,000 to £5,000, depending on your location, stock and pricing. This is an estimate, and the idea assumes at least about 20 hours a week. Slow stock turnover can tie up your money.

Check lease terms, rent reviews and business rates, including any rate relief. Check shop insurance for stock, public liability and theft, rules on ivory and restricted materials, and second-hand goods and anti-money-laundering rules for cash dealers.