Starting My Own Yarn Store?

Dear bloggers!

For several years I have been toying with the notion of starting my own yarn and craft store in my area. I’ll confess I don’t have money for such a thing unfortunately. Starting up any business costs a lot of money but especially a craft store! $1000s of dollars! $10,000-$30,000 because of all the expensive inventory and renting a space and decorating that space. It’s just a lot to think about !

So I need your advice! Should I attempt it? I don’t have money like a said but what do you think of a gofundme.com page? Go fund me helps people start up businesses or projects,hospital bills, funerals, anything!

I need help and ideas, advice,anything! So tell me what you think!

Advertisements

4 thoughts on “Starting My Own Yarn Store?

  1. I would start off by contacting the yarn companies and check with them on the stock etc. Some you need to buy so much in order to be able to sell and some then suggest you need to them buy again within so many months. Start off small, I’ve been thinking about doing an online store as it seems to be easier as a store you need to look at your local market and check out the competition, plus business rates then taxes. Though you can always set up a business plan and get advice from a bank and they can assist you at least with what to do etc. If this is your dream then you should really do your research and planning. Social media is a big thing and you will also need to consider marketing. If you wanted to sell yarn then I would choose a brand and sell a range from that brand. Don’t forget the nifty things crocheters and knitters need, hooks, needles, scissors stitch markers. These are all good little things to have and sell as well because they are essential. You do need a business plan as you will need to figure out how much you plan to turn over, what you will need to borrow and how you will pay it back. Who your target buyers will be, how can you stand out from other stores? Wool warehouse have competitive prices and ship all over and do well as an online business. How will you advertise? Website? Local paper ad etc it’s a big step as you don’t want to fail at something that is your dream… perhaps you could take class as well about starting a business and marketing etc. Sorry for the long comment, I wish you the best!

    Liked by 1 person

    • Dear Rebbeca, thank you so much for your advice! I have written down a list of all the things you suggested so I can start tackling them haha. I have started on a business plan and research. I don’t want to have a huge debt hanging over my head when I start my business so I’m thinking of starting a page on gofundme.com ! That might be an idea for your online yarn shop too! Please let me know if you have any more ideas and let me know how you get on with your shop! My family doesn’t think I can do this but I just know I can! This area is perfect for it! I have my eye on a store front already!! I want to rent at first not buy. Your encouragement means a lot . Thanks again! ~Crafty Lady ( Mary)

      Liked by 1 person

      • No problem! Glad I could help šŸ™‚ a gofundme sounds good I think I’ll look into it. Don’t let anyone in your family think you can’t do it. You can it just takes time and it will be such an exciting adventure. Keep us posted I’ll make sure to follow your blog to keep track haha have a good weekend x

        Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s