I owned a quilt store. It closed in November 2009. I knew opening it would be a challenge, as the economy was really taking a dive. But I thought we could do it, as there were so many quilters in our area. My only big competition was Joanne's. There were other stores within a short drive, but I thought people would be loyal to the stores in our own town.
I found out that people, including me, love to shop at many stores instead of one. They are willing to drive great distances, especially if there is a great deal.
My shop was small, so I did not have a large inventory. I realize now I probably did not turn it over as fast as I should have. But we had great classes. We included classes for new to sewing and children/teens. We had a lot of traffic come in but they did not always buy. It was a nice social center, which I loved; but that did not pay the bills.
I am sorry I had to close it. I would have loved to try it longer. I now have a website and sell unique patterns and such. Plus I sell other peoples quilts.
I also do a couple of shows a year to allow enough income to purchase more patterns and notions. At those shows, I get to talk with several shop owners. I have yet to talk to one that makes money for themselves. They are working there for free, as I did.
I now live in a larger community of several quilt stores. Two of them just closed this past month. I was truly sorry to see them go. But the economy still not favorable to small shops and fabric pricing going up, up, up, I understand.
Those of you that have a shop and can keep it going, more power to you. I miss mine. But now I can sew on things that I did not have time to do before. All I sewed whiled my shop was open were samples. Often my staff did those for me.
I do favor supporting your local quilt store. Even if you go in and buy one cut of fabric a month. That will help their bottom line.