Leather goods shop with repair counter

Local shoppers, gift buyers, commuters, tourists in visitor areas, and people with a favourite bag or belt they want fixed.

Profit on each item sold (you buy at trade price and add a mark-up), plus fees for repairs and small services. Gifts do best at busy times like Christmas and Father's Day.

• Good eye for quality and what sells
• Customer service and friendly selling
• Basic stock and cash management
• Simple leather repair (can be learned or outsourced)

• Lease terms, deposits and business rates, and whether any rates relief applies (check with your council)
• Public liability insurance, plus cover for stock and for customers' items left with you for repair
• Describe materials honestly: check the rules on labelling real leather versus imitation
• Stock is a big upfront cost and slow sellers tie up cash, so start with a small range
• Shops can be quiet outside peak seasons, so plan cash for slower months

Estimates suggest startup costs are typically around £12,000 to £50,000, depending on the premises, the fit-out and the amount of opening stock. Stock is a big upfront cost, so starting with a small range can help.

Estimated monthly revenue is typically around £3,000 to £15,000, depending on location, range and footfall. Shops can be quiet outside peak seasons, so plan cash for slower months. This is revenue, not profit.

Check your lease terms, deposits and business rates, and whether any rates relief applies with your council. Also check insurance covering stock and customers' repair items, and the rules on labelling real leather versus imitation.