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 range | Annual turnover range | ||
|---|---|---|---|
| $65,000 – $275,000 | $275,001 – $750,000 | More than $750,000 | |
| Cost of sales/turnover | 43% – 60% | 55% – 65% | 62% – 69% |
| Average cost of sales | 52% | 60% | 66% |
| Total expenses/turnover | 71% – 82% | 84% – 90% | 90% – 95% |
| Average total expenses | 76% | 87% | 92% |
| Benchmark range | Annual turnover range | ||
|---|---|---|---|
| $65,000 – $275,000 | $275,001 – $750,000 | More than $750,000 | |
| Rent/turnover | 9% – 16% | 6% – 9% | 3% – 5% |
| Motor vehicle expenses/turnover | 3% – 5% | 1% – 2% | 0% – 1% |