It is impossible to quote an exact figure for startup costs since they will depend greatly on your location, the size of your shop, the products you sell and whether you rent your premises or buy a freehold.
The cost of buying freehold premises varies in much the same way as house prices vary throughout the country. For example, on Chester high street, renting 800 square foot premises will cost around £22,000 a year. Go to Manchester city centre, though, and a space the same size could cost you upwards of £100,000.
Once you have the premises you will need to fit out the shop. This means installing display shelves and cabinets for the gifts and cards, some of which may need to be lockable if you are selling expensive items. You will also need a counter, a cashtill, and a credit card swipe machine.
And, of course, you need something to sell. As a new business, suppliers will rarely give you credit, so initially all stock will have to be paid for up front. This could cost between £20,000 to £35,000 depending on the size of your shop and the type of items you sell. Finally you will need some working capital to keep you and your business going until sales start to take off.
When you add it all up, therefore, you are looking at a starting figure of at least £50,000, which could rise into the hundreds of thousands if you decide to buy a freehold business in an expensive area.