Open an outlet shop on a local high street

Price-conscious shoppers, families, students and people on tight budgets who like a bargain.

You buy stock cheaply in job lots or from wholesalers and liquidators, then sell at a mark-up. Stock choice and rent costs decide your margins.

• Spotting good-value stock
• Negotiating with suppliers
• Customer service
• Basic bookkeeping and stock control

• Rent, business rates and utilities can be heavy, so check whether you qualify for any business rates relief
• Check product safety and labelling rules, especially for toys, electricals and cosmetics, as you are responsible for what you sell
• Surplus stock can be inconsistent, so avoid buying more than you can sell
• Check for fakes or counterfeit goods when buying from unfamiliar suppliers
• Public liability insurance and stock/contents insurance
• Check planning use class and lease terms before signing for premises

Startup costs are typically around £8,000 to £35,000, depending on your premises, shop fit-out, insurance and opening stock. These are estimates, so check rent, business rates and utilities for your own unit.

Monthly revenue is typically around £4,000 to £18,000, depending on your location, stock and pricing. The estimates assume at least about 35 hours a week. Revenue is not profit, so allow for rent, rates and stock costs.

Check product safety and labelling rules, especially for toys, electricals and cosmetics, and watch for counterfeit goods from unfamiliar suppliers. Also check business rates relief, planning use class, lease terms and your public liability and stock insurance.