What has not been mentioned here, owning-working a business takes a lot of physical energy and stamina.
Re location: There are 3 good quilt shops here, 2 in shopping centers, one a little off the beaten path, their thinking was/is they are a destination business. They are smaller, but no less busy then other shops.
As a former business owner, everything said above very important. During good times anything is easy, during a rough economy like now, every one struggles.
Good luck with your decision and dreams.