Local hardware and DIY shop

Local homeowners, landlords, tenants and tradespeople such as plumbers, builders and handymen who need items quickly.

Profit on the difference between what you pay suppliers and your shelf prices, plus extras like key cutting, cutting materials to size or local delivery.

• Good product knowledge and willingness to learn
• Stock control and ordering
• Friendly, helpful customer service

• Public liability and stock/contents insurance, plus employer's liability if you hire staff
• Business rates and lease terms, check what you would pay and whether small business rate relief could apply
• Rules on selling certain items such as knives, solvents, some chemicals and gas cylinders, check with your council and Trading Standards
• Tying up cash in stock that sells slowly, and competition from big DIY chains and online sellers

Startup costs are typically around £15,000 to £60,000, depending on the premises, lease terms and how much opening stock you buy. Stock that sells slowly can tie up cash, so plan your ordering carefully.

Monthly revenue is typically around £6,000 to £30,000, depending on location, range and how many local households and tradespeople you serve. This is revenue before costs such as rent, rates, stock and insurance.

Check what business rates and lease terms you would pay, and whether small business rate relief could apply. Also check rules on selling items such as knives, solvents, some chemicals and gas cylinders with your council and Trading Standards.