Silk fabric and accessories shop on the high street

Dressmakers, bridal and costume designers, students, interior and craft customers, and local gift shoppers.

Fabric is sold by the metre and finished goods at a mark-up on cost. Workshops, made-to-order pieces or an online shop alongside can add extra income.

• Knowing silk types and care
• Customer service and advice
• Buying and stock control
• Basic bookkeeping

• Check lease terms, deposits, planning use class and business rates, as small business rate relief may be available
• Stock ties up a lot of money, and slow-selling colours and fabrics can be costly
• Describe fibre content accurately and check labelling rules for garments and accessories
• Public liability insurance, plus cover for stock, theft and fire
• Employer's liability insurance if you hire staff
• Check VAT registration, and customs and import VAT if you buy from overseas

Startup costs are typically around £15,000 to £60,000, depending on the premises, fit-out and how much silk and accessory stock you buy. Stock can tie up a lot of money, so test these estimates against your own plan.

Monthly revenue is typically around £4,000 to £16,000, depending on location, stock range and opening hours. This is revenue rather than profit, so rent, rates and stock costs come out of it. Plan for around 35 hours a week.

Check lease terms, deposits, planning use class and business rates, including whether small business rate relief is available. Also check fibre content descriptions, labelling rules for garments and accessories, public liability and stock insurance, and VAT registration.