Your 'selling radius' may be 60 miles, however, how many quilters or wanna be quilters are in that area? In a rural community, there may be lots of open space in your target area. I would see if you could do a marketing survey of guilds (and possibly churches & schools) to see if folks would like a quilt shop. Ask questions like 'if you are a non-quilter, would you like to learn?'(to see if you have a base for offering classes), 'any other craft materials you would like to purchase locally' (to see if you need to diversify).
As far as turning the business over in the future, a very well established quilt shop in our area closed because she retired & could not find anyone to take over the business.