A quilt shop startup business is not for everyone. But, if you love to quilt and you are willing to learn the basics of starting and running a business, it might be just the thing for you!
Starting a small business can be tricky, but if you know exactly what to do and how to do it, you can easily turn a quilting hobby into a profitable business, that you really enjoy.
A quilting shop is a real business, and, as such, you’ll need to understand how a small business works.
In addition to having good knowledge of quilting and experience at making quilts and other quilted projects yourself, you’ll need to acquire good business skills to assure that your business will prosper and grow.
You can take the time to read about starting small businesses yourself, or you can learn from someone else who has had experience at starting and running a successful quilting shop business.
Your time is worth money. Time spent learning is time that could be spent earning…
Ideally your quilt shop will be located on a busy street, with good display windows to draw customers into your shop.
Tips to Start in Business
If you’ve never started a business before, starting your own quilting shop business can be a daunting task. And, if you’ve read the statistics about small business failures, you might be afraid to take the plunge.
But, I have good news for you! You don’t have to do all the research and learn how to dozens of new things on your own.
I found a guide that has compiled all the information (and even the forms) that you’ll need, to get your quilt shop started on the right foot. And it’s written for someone who has never started a business before.
You’ll need to know these things. After all, you’re not just starting a business. You’re building a community of quilters who will become your loyal customers and friends.
And you want to be in business, for a long, long time!
If you have the space, you might offer your customers’ quilts for sale, on consignment.
Your Quilt Shop Startup Business
Having started and run several businesses, I found the startup guide to be extremely helpful. Some of the topics that it covers are:
Business Start-up Funding - People start businesses, to MAKE money. And, unfortunately most people don’t have a lot of extra money lying around, that they can use to start a business.
Of course, you can borrow money to get started. But there’s a right way and a wrong way to go about this. There are tricks to doing this right.
The Quilt Shop Startup Business guide will help you understand what you need to do to be considered a serious business person, who will be a good risk. And where you can find the money to get started…
Location - You may be thinking of starting small, using your home, at first. This may or may not be a good idea. You’ll learn what to look for in a location, and some important things that you should check on—before you sign a lease…
Legalities - Should you have a corporation, or not? You’ll learn about the different business entities, and the advantages and disadvantages of each.
Insurance - As boring as this topic is, you do need to consider whether you will need one or more of the different kinds of business insurances. You’ll learn about each, and the reasons for each kind.
You will need to purchase a variety of fabrics and supplies for your quilt shop.
Since the Quilt Shop Start-up Business Guide is industry specific, you’ll be getting insider info on the quilt shop business, not just general information on starting any small business.
Quilting Supplies - You will need to have a full selection of quilting patterns, fabrics and supplies on hand. The guide will help you decide exactly what you’ll need, so that you are not understocked—or you don’t spend too much on supplies, blowing your budget.
You’ll learn exactly what items you’ll need, for your quilt shop startup business. You’ll also learn how much to budget for your starting inventory.
Marketing Advice - Since selling is your business, you will need to know exactly what the demographics of your customers are, and what kind of marketing brings them in. You’ll get some great ideas on how to do this, in the guide. It will save you tons of boring research time.
Sources of Supplies - One thing that I found, in the retail business, you need to know where to buy your products. Should you go to distributors or straight to the manufacturers? There are advantages and disadvantages to either approach, and you’ll learn what they are.
Quilting Classes - If you’ve never done this before, you will need to learn how to set up classes, and how to keep people coming for more. Classes for quilting will be one of your chief sources for revenue. And they become a social event for many of your customers, ensuring that you build your quilting community.
If you love quilting, and you’re willing to make the effort to set up your own quilt shop, this could be a major income source for your family. A quilt shop startup business can be lots of fun, and, if you do it right, it can be quite profitable.