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Thread: Need Some sound Business Advice

  1. #1
    Member
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    In the area where I live we have a serious lack of Quilt shops. We have a really good one in Shreveport but that's an hour out of my way and the one in Bossier is no help really. When I was first starting on my wedding quilt I went there for help and all the lady was interested in was selling me a machine. We have tons of fabric shops which is good but seriously no quilt shops.
    I would love to open my own shop and I plan on writing a business plan to get the ball rolling. Can the ladies who own quilting and fabric businesses please give me some advice on what direction to go? And those that frequent quilt shops give some idea of what you would want in a shop?

  2. #2
    Super Member Ditter43's Avatar
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    I have no advice for you but GOOD LUCK!!!!

    Ditter

  3. #3
    Senior Member tkhooper's Avatar
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    If you have lots of fabric shops you might want to check with the owners of those that aren't franchises. See if they would be interested in renting you some of their space for a percentage of your profit. That way you could see if there was really any interest.

    It may be that the fabric shops are already fulfilling most of the needs of your quilting community.

  4. #4

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    I would highly recommend you do a complete history of the area and stop by the local quilt guilds to see if there is even a demand for another shop.

    I could give you a million suggestions but highly recommend that you start there.

    Best of Luck!

  5. #5
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    Contact Deb Luttrell at Stitchen Heaven in Quitman TX. She recently had a seminar for quilt shop owners. Quitman is about a 2 hour drive from you. Take 20 to Tyler and turn north toward Mineola, Quitman is the next town,.

  6. #6
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    With the way the economy is right now I would not try it to the extent that you are wanting to do. Owning a business is not the easiest thing in the world to do. Even in the best of times only a small percentage of the businesses make it past the 5 year mark.

    Like the poster stated, do a research of the market and see just if there is a need for a LQS. It will take more than a few customers a month to keep the operation going I can tell you that! Also how many fabric shops are there around you that already sell quilting supplies and fabrics?

    I am not trying to discourage you, trust me we need more independent shop owners and less corporate over seas influence in America. But I would start off small and go from there. Maybe working out of a room in your house on the side just to see..... Who knows if things work out you could have a huge corporation before you know it!!! :D :D :D

    But with the new health care plan being passed it is going to put a world of hurt on any small business owner. I will not be surprised if a lot of the LQS's and small businesses do not start shutting down within the next 2 to 4 years.

    Billy

  7. #7
    Power Poster BellaBoo's Avatar
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    I have been told by most quilt shop owners not to expect an income for the first few years but to break even is excellent. The first person you should talk to is a CPA.

  8. #8
    Super Member IrishNY's Avatar
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    Call your local Chamber of Commerce and ask them what kind of assistance they provide to potential small business owners about market analysis. If they can't help you, they should know who can.

  9. #9
    Super Member
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    the suggestions about checking with CPA, Chamber of Commerce, etc., are right on. If you're not a guild member, join, and use the knowledge in that group to gather data about what local problems are, what is missing, what folks like, etc.,..that type of information will direct you to specific things needed and wanted in your area. Stores in other parts of the country can tell you what works for them, but their local economy, size of community, interest in quilting, etc., will probably not all be the same as yours.

  10. #10
    Google Goddess craftybear's Avatar
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    I wish you good luck and please keep us posted!

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