Jewelry and watch repair shop

Walk-in customers, local people with heirloom pieces, and nearby retailers or jewelers who send work out.

Per-repair fees and small add-ons such as cleaning, batteries and straps. Walk-in traffic and quick turnaround drive repeat business and referrals.

• Bench jeweler skills such as soldering, sizing and stone setting
• Customer service and clear quoting
• Basic bookkeeping and record keeping
• Attention to security and trust

• Local business license, sales tax registration and certificate of occupancy: check with your city, county and state
• Insurance for customers' items in your care, plus property and theft cover (ask about a jewelers block policy)
• Security needs such as a safe, alarm and cameras, which insurers may require
• Fire and ventilation rules for torches and chemicals
• Rent and fit-out costs: test demand before signing a long lease
• Full watch repair needs specialized training and tools

Startup costs are typically around $15,000 to $60,000, depending on location, fit-out and equipment. Rent and fit-out costs matter, so test demand before signing a long lease.

Check your local business license, sales tax registration and certificate of occupancy with your city, county and state. Also check insurance for customers' items, property and theft cover, security requirements, and fire and ventilation rules.

Monthly revenue is typically around $5,000 to $20,000, depending on location, foot traffic and the repair services you offer. Full watch repair needs specialized training and tools, which affects what work you can take on.