Local ironmongery and hardware shop

Local builders, joiners, maintenance workers, landlords and home owners with repair or renovation jobs.

You buy from wholesalers and manufacturers and sell at a mark-up. Loose fixings sold by weight or quantity earn higher margins. Trade accounts bring repeat orders.

• Product knowledge of fixings and fittings
• Customer service and giving clear advice
• Stock control and ordering
• Basic bookkeeping

• Stock is the biggest cost, so start with fast-moving lines and expand once you see what sells
• Business rates, lease terms and whether the unit's planning use suits retail; check with the landlord and your council
• Public liability and stock and contents insurance, plus employer's liability if you hire
• Rules on selling knives and some chemicals or paints, including age limits and storage; check with Trading Standards and your council
• Competition from big DIY chains and online sellers, so build your edge on advice, range and trade service
• Fire safety and safe storage for heavy metal stock

Estimates typically put startup costs at around £25,000 to £80,000, depending on premises, fit-out and range. Stock is the biggest cost, so start with fast-moving lines and expand once you see what sells.

Monthly revenue is typically estimated at around £8,000 to £40,000, depending on location, range and how much trade custom you win. That is revenue before stock, rent, rates and other costs. Competition from big DIY chains and online sellers is worth planning for.

Check business rates, lease terms and whether the unit's planning use suits retail with the landlord and council. Also check insurance, rules on selling knives and some chemicals or paints with Trading Standards, plus fire safety and safe storage for heavy stock.