In order to purchase your fabric for resale, would you have enough volume to get discounts from the vendors? How about checking with your not-so-local LQS to see if you could work a deal with them since they are already established?
Check with your local guilds about vendoring there. I know with mine you have to be a member to have a table at the guild meeting.
We're not trying to throw cold water on your idea. Just making sure you have thought everything through.