Originally Posted by
klswift
As with any business, start out with what the hard costs will be to set up (lease, furniture, deposits), then the costs to open (inventory, advertising), and then the monthly costs (rent, utilities, banking/credit card fees). This does not include salary. Since this is just a dream idea, what would you need to sell to cover these costs? And, we know that a LQS will not sell this much (why they are dying out!) what will you do to supplement this income? Best idea is classes or LA services. If you have a quilt class meeting one day a week with 4 - 6 students, it can generate $100 - $200 per week. Check with a local LA'r and see what they charge for their services (MSQC was charging penny per inch) and estimate how much a long armed quilot per week would generate. These would be your 3 sources of income. (And possibly add in a mail order element.) This is your base costs/incomes for the business. ( I had a brick and mortar for 29 years and now just do the online store - so much easier!)
Selling machines is also a valuable source. The shops that do the best are those where the owner also owns the building. Don't forget all the taxes some local some state and federal too.