Home audio and hi-fi shop

Music lovers, home theater buyers, vinyl collectors and households upgrading their sound, plus some local interior designers and builders.

Margin on products sold, plus fees for installation, setup visits and accessories like cables and stands. Repeat customers and referrals matter a lot.

• Good knowledge of audio gear
• Explaining technical things simply
• Customer service and sales
• Managing stock and suppliers

• Local business license and sales tax registration with your state, check with your city, county and state
• General liability insurance and coverage for stock against theft or damage
• Some brands set minimum order sizes or pricing rules for dealers, check the terms
• Online retailers compete on price, so plan how you will add value with demos and service
• Lease terms and noise limits for demo rooms

Startup costs are typically around $25,000 to $100,000, depending on the premises, how much stock you carry and how you fit out any demo space. Supplier terms and minimum orders can also affect your total.

Monthly revenue is typically estimated at around $6,000 to $30,000, depending on your stock, location and how well demos and service set you apart from online retailers. Expect to work around 40 hours a week at minimum.

Check your local business license and sales tax registration with your city, county and state. Check general liability insurance and stock coverage, brand dealer terms on minimum orders or pricing, and your lease terms and noise limits for demo rooms.