Local musical instrument shop

Hobby players, parents buying for children, school and music teachers, and local bands and gigging musicians.

Margin on instruments and accessories, with steady repeat sales of low-cost items such as strings, reeds and sheet music. Extras like set-ups, repairs and rentals add regular income.

• Good knowledge of instruments and brands
• Customer service and friendly advice
• Stock buying and cash flow control
• Playing an instrument helps with credibility

• Rent, business rates and stock tie up a lot of cash, so check the numbers carefully before signing a lease
• Competition from big online retailers on price, so think about what you can offer in person, such as advice, lessons and repairs
• Check the planning use class and lease terms for the premises with your council
• Public liability and stock/contents insurance
• Consumer rights rules on returns and faulty goods for sales, especially if you also sell online
• Register as a sole trader or limited company, and check when VAT registration applies

Startup costs are typically around £15,000 to £60,000, depending on the premises and how much stock you buy. These are estimates. Rent, business rates and stock tie up a lot of cash, so check the numbers before signing a lease.

Monthly revenue is typically around £4,000 to £20,000, depending on your stock, location and extras such as repairs, set-ups or rentals. These are estimates. Competition from big online retailers on price is worth planning for.

Check the planning use class and lease terms with your council, and insurance such as public liability and stock cover. Also check consumer rights rules on returns and faulty goods, whether you register as a sole trader or limited company, and when VAT registration applies.