I think a good quilt store should have at least 20 different books. They should include applique, bindings, a multi-purpose books on different quilt blocks, art quilts, books on using paintstiks, dyeing fabric among the many.
It should carry a variety of different needles and weights and colors of thread.
It should have several 'different' kinds of collections. I do not care for Amy Butler fabric, but there are a few stores who only carry that line. You need to be able to satisify all your cusotmers. Don't just buy what you like. I love Moda. I would say about 75% of what I own is Moda.
It should include patterns that cater to all different levels of skill. Beginner to Advanced quilter.
It should have the basic black (Kona is my choice) and as many whites, white on white and off whites are you have money and room for.
I love looking through the scrap bin. No scrap is too small. Package like colors together, sell for $$. (Also gives you a chance to move something that's been sitting too long.)
Notions: small very sharp pins. Used for applique, pinning bindings, etc. Markers that come out with water. Multiple colors (currently looking for one that can be seen on floral fabric). Fabric scissors; small and large. HST (Half Square Triangle) papers, batting (especially king size. Most quilts that I make are queen size. I always try to use the next size up and it's hard to find on hand.)
The store should have enough help that customer's don't have to wait over 10 minutes to check out. I've been in stores where the help is so busy chit chatting that I've put the items back and left. I love to spend money, but if I have to wait too long, I'll think twice. Then the sale is gone.
The owner needs to have interaction in the store and with the customers. You have to talk to them so you can keep up to date what the new fads are and what people want.
Beginner classes are helpful. It's fun to get with a bunch of quilters to quilt.
You need a website, blog and/or newsletter. This let's people know that your still there and what you have to offer. It's also important on your location. Parking is so important. I have a favorite LQS but the parking is downtown and so hard to find a spot to park.
I'm sure there's more I'll think of after I hit send, but these are my basics.
God will lead her.