Tool repair and service shop

Tradespeople, building and maintenance firms, schools and colleges, hire companies and home users.

Repair and service fees, parts sold at a mark-up, and sometimes sharpening or small accessory sales. Account work with local firms can give regular volume.

• Electrical and mechanical repair
• Stock and parts management
• Customer service at the counter
• Pricing jobs fairly

• Rent, business rates and a lease: take advice before signing and check any break clauses
• Public liability insurance, plus cover for stock and customers' tools in your care
• Employer's liability insurance if you take on staff
• Electrical safety testing and training, and keeping records of work done
• Check rules on waste, such as old batteries and electrical items, and how to dispose of them
• Slow months, as trade work can rise and fall with the building season

Startup costs are typically around £6,000 to £30,000, depending on the unit, workshop equipment, testing gear and opening stock of spares. Check lease terms and break clauses before signing.

Monthly revenue is typically estimated at around £3,000 to £12,000, depending on location, trade accounts and the mix of repairs and spares. Trade work can rise and fall with the building season.

Check public liability insurance and cover for stock and customers' tools in your care, employer's liability if you hire staff, electrical safety testing and training, record keeping, and rules for disposing of old batteries and electrical waste.