When you are serious about going into business, find out what your state requires to set up a business. Do you need a state business tax i.d number? A county merchant sales tax number? Will you need to pay business personal property tax on you machines, templetes, rulers, patterns? These answers may decide for you if you can buy batting, and thread wholesale or if you will need to purchase at retail.
Here in Missouri, I am required to have a state tax i.d and a county license. But I can buy wholesale batting with my state tax number, so I go to a wholesale merchant to purchase batting, (Hobbs Bonded Fibers, in Waco, Tx) This way I can recoup my expense for the batting plus a profit because I sell at a price very close to the local stores as I don't want to be in competion with them over batting.
I also carry business insurance to protact me, my machines, inventory and customer quilts, etc.
When it comes to pricing, I try to price close to the going rate in my area. I don't want to be too low nor do I want to be too high, but I need to price to make a profit for my time, insurance , license, taxes, etc.
I do not take classes so I do not have to try to recoup my expense for these. I find that these classes get very expenses. I'm not saying they would not be worth it because the teachers are very skilled and willing to share their knowledge, but I quilt for people that probably will never enter a quilt in a large show, so I just don't spend the big bucks on classes.
I'm sure I'll think of something else. But I encourage to do your "homework", then jump in with both feet and enjoy the quilting process!!