Benchmarks

Companies in this industry sell musical instruments and accessories. They may also sell music publications, recordings, and musical memorabilia.

As well as provide maintenance and repair services for musical instruments.

These tests do not apply to entertainment retailers.

Outreach of benchmarks

These benchmarks use information provided in fiscal 2016-17 tax returns and activity reports and are updated every year. This is the most recent data.

These benchmarks show ranges of business income and expenses that you can use to compare your performance against peers in your industry.

Starting key in difference

Typically, you should fall within the range of key metrics for your specific annual turnover.

Going beyond key benchmarks for your industry may indicate that there is room for improvement in your business.

It can also be helpful to check that you have reported all earnings and accounted for any trading stocks you may have used for your own personal use, as this may affect your results. Some companies may use the amounts we accept as estimates, check if they are available to you.

Key benchmark rangeAnnual turnover range
$65,000 – $275,000$275,001 – $750,000More than $750,000
Cost of sales/turnover43% – 60%55% – 65%62% – 69%
Average cost of sales52%60%66%
Total expenses/turnover71% – 82%84% – 90%90% – 95%
Average total expenses76%87%92%
Tax return – key benchmarks for 2016–17
Benchmark rangeAnnual turnover range
$65,000 – $275,000$275,001 – $750,000More than $750,000
Rent/turnover9% – 16%6% – 9%3% – 5%
Motor vehicle expenses/turnover3% – 5%1% – 2%0% – 1%
Tax return – other benchmarks for 2016–17