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Re: Need advise on opening a gift/lifestyle shop

CeylonArtjewles, post: 28267 wrote:

I would like to know the following information and will be very grateful for all the advise.

1. How much rent should i expect to pay?

This can vary from from anywhere $600 to $1500 a sqm, as I have clients bloth in Surry Hills & Paddington and rents are high

4. Does anyone know how much it costs to register a busines?

Richard is on the mark re costs, that tends to be the cost depending on struturer, we are accountants also and if clients setup via us and continue to use us we offer a rebate back on cost of ABN/GST Registration Costs

5 Public liability cover – will i need to get this? If so do you know how much it will cost?

You are best to contact an Insurance Broker on this, as a guide but you are looking at least $1800 a year

6 Does anyone think this kind of shop will do well or there is scope?
8. Does anyone have any suggestions on where the store should be located bearing “trendy” + foot traffic in mind?

Personally been very familiar with these locations and having personal knowledge of the market in these areas, I personally think you will be better off attending the Saturday Markets at Paddington, Monthly Markets in Surry Hills and possibly Sunday Markets at The Entertainment Quarter, this will allow you to see how the customers accept your goods and should it go well you can consider opening a retail store.

If you have any other questions please feel free to contact me.

All the Azim