Starting a quilt shop involves creating a business plan, securing startup funds, finding an appropriate location, hiring staff and ordering products. In addition, developing a marketing plan is key to the success of any small business such as a quilt shop.
A business plan for a quilt shop should focus on what specific products and services will be offered and how to attract customers. Part of this set-up stage includes registering the business name, applying for an employer identification number with the Internal Revenue Service and getting insurance. It is also necessary to acquire startup funds for the shop. Having a business plan in hand helps in soliciting investors and requesting small business loans from banks.
Finding the right location is key for a specialty shop like a quilt store. The location must be easily accessible with adequate parking. It must also be the right size for the business, especially if quilting lessons are going to be offered.
In staffing a quilt shop, it is a good idea to find quilters who will love working there and be knowledgeable about the craft. As an added incentive, potential employees can be offered discounts on quilting supplies. Ordering quilting supplies is one of the final steps before opening the store.
Marketing the quilt shop is key to its success. Social media can be used to make potential customers aware of the new store, and a website can allow the store to keep making sales even after hours. Tapping into the local quilting community is vital to any quilt store's success.