Quilt shop is closing!! :(
#21
When the new LQS opened (about 3 years ago), I asked the ladies if they could stay open ;ater a couple nights a week. I said if they opened at noon on those days, they could stay open until 8 p.m. rather than being open 10 a.m. to 5 p.m. Their argument was that they had families (read husbands) that wanted them home at a reasonable hour in the evenings. I told them that I understood their reasoning, but if they were going to service their commuting customers, they needed to be open when we could come to the shop. Well, after 2-1/2 years, they have finally started staying open later on Thursday nights. They usually have a class scheduled for women who cannot take a daytime class.
I respect the fact that neither of the LQSs stay open on Sunday. That is a day set aside for worship and family. Hobby Lobby and Chik-Fil-A both also do not open on Sunday.
I respect the fact that neither of the LQSs stay open on Sunday. That is a day set aside for worship and family. Hobby Lobby and Chik-Fil-A both also do not open on Sunday.
#22
Banned
Join Date: Oct 2009
Location: Bikini Bottom
Posts: 5,652
*File for not only a tax number but make sure to be a LLC (then you become a wholesaler on shows....all you have to do is inquire)
Figure in at least 30K to start up a business and have enough money on hand to be able to run the business for a year without any income coming in. It would be best if you could run it out of a room in your house then you can deduct that from your taxes along with the new computer, sewing machines, cell phone, partial of your utilities, etc to be able to run the business.
You also have to pay yourself a salary and if you use a room in your home you can pay yourself for the use of the room. And if you offer delivery or go to shows you can either lease your car to the business or buy another one for it and that would be another deduction along with mileage.
Also make sure you find yourself a good accountant and a tax attorney!!!
Billy
#23
Power Poster
Join Date: Jun 2009
Location: Perth, Western Australia
Posts: 10,357
All great advice, and starting from home may well be the way to go. I have spent many years managing and working with small business owners, those who fared the best, put in the hours 24/7, live, eat, breath "the business". The ones who couldn't commit...well, some of them are no longer trading, and some separated and went back to working for someone else. It's a hard road, it can be done, but research, research, research!
#25
Another one bites the dust. I keep hearing of all these WalMarts closing their fabric departments, but my local Super WalMart has added fat quarters lately and still has a small but decent fabric selection. The fat quarters are really cute. I've used some of them as backing for my monogrammed baby burp cloths.
#26
Banned
Join Date: Oct 2009
Location: Bikini Bottom
Posts: 5,652
If I was you I would do it this way, buy up some stock that you think that would sell and start a word of mouth kinda thing about you having some fabric for sale. Do cash only and have a "Quilting Bee" ever so often and you could make a lot more money and have no overhead, less of a headache than it would be trying to run a business.
This might would be better because you would have more time to enjoy the hobby and network more.
Billy
This might would be better because you would have more time to enjoy the hobby and network more.
Billy
#27
Member
Join Date: Nov 2009
Posts: 65
We have a lady in town who also sells fabric from her home. She got her tax ID number and went to market and voila', she had a small business. She has expanded and now has a small shop with notions and stuff. But it is not a big money maker. She brings fabric to local quilt guilds and offers special shopping days through the year. She loves it.
Thread
Thread Starter
Forum
Replies
Last Post
NCquilter
Offline Events, Announcements, Discussions
6
08-13-2010 08:05 AM