Independent guitar shop

Beginners and parents buying a first guitar, hobbyists, gigging musicians and local music teachers.

Margin on new and used instruments and accessories, plus fees for setups, repairs and lessons. Accessories and repairs bring steady repeat custom between bigger sales.

• Good knowledge of guitars and amps
• Playing well enough to demo instruments
• Pricing used gear fairly
• Customer service and buying and selling

• Stock is a big upfront cost and slow-moving items tie up cash, so start small
• Online retailers compete hard on price, so think about what you offer that they don't, such as setups and advice
• Business rates, shop insurance and public liability insurance, check what applies to your unit
• Check planning use class and lease terms before signing for a unit
• Buying used gear: keep records and be careful about stolen goods, check the rules on second-hand dealers
• Check consumer rights rules on returns and faults, especially for online sales

Startup costs are typically around £15,000 to £60,000, depending on the unit, stock levels, fit-out and insurance. Stock is a big upfront cost, so starting small helps avoid tying up cash in slow-moving items.

Things to check: business rates, shop and public liability insurance, planning use class and lease terms before signing, and rules on buying used gear, including keeping records and avoiding stolen goods. Also check consumer rights on returns and faults.

Monthly revenue is typically estimated at around £4,000 to £20,000, depending on stock, location and whether you add repairs and lessons. The estimate assumes a full-time commitment of at least about 40 hours a week.