Opening a new business
I have staked out the town, know that there is a need for it, (not dog related) and am nervous. Basically starting a weaving/knitting/spinning store with all the accessories. Holding classes for all of these as well from locals that are better than i am. The town is a seasonal resort town. Winter and Summer lots and lots of rich Texans come up. plus then there are the locals that still live there whom i know some of still from the past. I just have no idea on where to go or what to do to get started. I am the type of person that needs a OKAY: Step1. Step 2 do this Step 3 do this step 4 go here step 5 buy this. etc. I already have one person interested in moving and helping in the business as well, and am praying and hoping my 'sister' in GA and her husband whom own and run a linnen mill and are wanting to retire would move there too. Any ideas on where to get started? As you know i am kind of limited with my back on things............... and funds........ but think that i can do it on what i have saved up. Small to start, nothing big..........pleanty of time to grow. Like where to buy yarns from, at a store owners price, not a customers'. I've found some nice brand new looms (floor) for what i consider a very decent price. I have thought of calling it The Shaggy Ewe...... It is just scary all the way around from all i'm going thru, also filing disability papers, dealing with thm trying to raise our house taxes when everything is selling here for 100000.00 LESS than what we paid...... (every one of us that bought that year they want to raise our taxes 11,500.00_so we are banding together to go to the assessor office). Then first court date for separation (which he still thinks is a divorce)on Thursday has me very nervous. I had to speak with him on some issues this past week and it just started the whole depression thing again. i know it will get better.................. but thanks for listening and if anyone has ideas on how to get startted please let me know. I downloaded the Starting a Business for Dummies on my Kindle last night, lol. Ali |
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I love the name Ali!  This sounds like a very cool idea! I have been a small business owner for many years, and I love the independence it allows, and the creative challenge as well. For many years I was involved (I was not the owner, or the main person running it, mind you) in a wonderful business called Color Creek Fiber Arts. We sold supplies, finished art, and offered classes in many forms of fiber art including dying, felting, surface design on fabric, etc. Except for your emphasis on spinning and weaving (which we did offer a bit of supplies for, but not much) were similar to what you describe. I can tell you that your 1st big challenge may be finding affordable space. Customers to a place like this want it to be in a good (safe) area, that is attractive and has easy access. THIS was our biggest stumbling block, and ultimate downfall, I'm afraid  We closed due to losing our location.You must have good insurance, especially if you are teaching...particularly if you offer kid's classes. Find a good accountant early on. Start your web site asap, and really advertise it. Ill have to think about what else might be of help...I'm kinda half asleep right now  |
| GREAT!! i athink i have th perfect building already............. going to go back and look again here soon. hadn't thought about the insurance thing. thanks for mentioning it! Gee maybe you'll move down with me!!!! lol |
| I love the name you've picked out. Good luck in your business venture! |
| You go! Best of luck with the business! Think positively and move forward! Good luck at the hearing. I hope you have a friend that can go with you. |
| I didn't know you knit! love the idea of getting focused on something new, the next phase of your life. I think, however, that a yarn store is extremely tough business with all of the competition from online stores with vast inventories and low prices. Having classes and a welcoming atmosphere is key. But it requires a huge downpayment in terms of space, time and inventory that could be sort of scary. If it were me, I would interview the women who own Shuttles, in Boulder, Mew Mews in Louisville, Lambspun in Fort Collins and Knit Knack in Arvada to learn from their experiences. I would also try to track down the woman who had the yarn store in Boulder that failed a few years ago (the Purl Knit Cafe) to learn what happened. And maybe also the person who owns The Knitter, an online-only store in Boulder. Might be worth apprenticing yourself to one of these local stores first to understand the business from the inside rather than hope that someone could tell you everything you need to know to get started. You could also post requesting help/mentoring on ravelry.com. Looking forward to hearing more about this. |
| If you are looking in NM.....there are many spinners and weavers in Albuquerque and north. Have you visited Village Wools in Albuquerque? There is also Las Aranas Spinners and Weavers Guild here. If you are looking around Ruidoso they are in a big economic slump right now. Fire last year didn't help downtown. Not sure those rich Texans are coming up like they used to. Even the casino is having trouble. Of course doesn't help the whole thing is about to burn unless we get moisture. The lost two homes in Mayhill to a fire but evacuated the whole town just in case the winds shifted. Still, when they get the snows, it is a lovely area all year round. |
| i know nothing about the business you are going into but owning my own business for over 28 years is alot of work and alot of pressure if the phone will ring.... it can be overwelming with sales tax ,fictious name insurence etc.. but it will be worth it in the long run.. talk to as many people as you can also sometimes they have in the county mentors who can help you out.. retired people who have been there ..make sure if you lease a building try and get yr. to yr.. my friend had to close his business and had a 3yr and now has to still pay rent with no income.. but i really think this would be great for you to focus on something new.. keep us posted. |
Ali wrote: GREAT!! i athink i have th perfect building already............. going to go back and look again here soon. hadn't thought about the insurance thing. thanks for mentioning it! Gee maybe you'll move down with me!!!! lol Thanks Ali, but I'm afraid I'm too much of an arctic-weather kind of girl!   The south would kill me dead!  Maybe once you get really going, I can come down and teach a class or two in needle-felting or silk-fusion! So...other random and misc thoughts... Look at felting, as well as spinning and weaving. Its VERY popular right now, and the same suppliers carry the materials. It is also quite kid-friendly, so if you want to offer kids classes, felting is a great place to start. On the topic of classes, think about your target demographic. It sounds like mostly well off retired women are your hoped-for group, but also consider: Disabled folk in search of art/physical therapy Home-school families Individual craftspeople who just need a space in which to do a project Parties (birthday, wedding/baby shower, etc) We did tons of these! The class has to be a quick (one day) project, of course, so I'm not sure it would work with your mediums(?) Val is exactly right about needing a "welcoming atmosphere" ! We did our best to make our place very comfortable and social. Again, as Val said, folks can get stuff over the internet very easily and cheaply these days, so what a real-world business has to offer, that the internet doesn't, is a fun, relaxing experience. |
| I'm not a knitter, but I work next to a knitting store and it's CRAZY how busy they are!!! They sell yarn and supplies, but they also have couches and serve tea. People of all ages just hangout, knit together and drink tea. They also have many classes and events.. http://twistedpdx.com/events/ Good luck! |
| I want to pattern mine like one in Ft. Collins called Lambspun. I will use some of my antiques in it, and my table opens wayyyyyyyy up to serve over 18 people. We always had Tuesday knitting group. There was a small resturant assoc. with the one in CO. and there is a small bakery opened in the town that could move into the adjacent old 7-11 building next door. But we are still looking at other sites. There is alot of interest in this from some of my friends that i have spoken with. From having local potters bring in their pottery, to baskets etc. There is nothing like this in the area at all. Classes from long time local knitters, crocheter's, weavers, for children learn to knit classes etc. It can be done, just gotta take baby steps... I thought of calling it The Shaggy Ewe, and yes the kids will go to work with me......... This is all still speculation at this point I cannot do anything at this point until this other 'mess' is taken care of. Oh the things I have found out this past 2 weeks are just amazing for how long this has been going on to things that he's doing that the Court papers have said he wsn't supposed to. I just know i'm finally done. It's still hard and devestating however to be told your not wanted or loved anymore. |
| We also have a knitting store that teaches, etc and its very busy. I would caution you however to check with your disability attorney as to what you can and cannot do and still collect the disability...I work in court so I am forever cautios of what they allow without losing your benefits. Its great to hear you are looking ahead. Divorce can be so devistating, mentally and financially. You WILL get through this. And one day you will look back and say, my ex husband did me the biggest favor of my life! trust me...Been there...You are on the way to recovery!!!! |
| Stop! My mother raised us running her own business. My sister owns a quilt shop, nephew owns a specialty aircraft business, brother has a aviation repair company. I have spent 22 years responsible for P&L in my departments and divisions. I'm working on opening my own dog related business. I had hoped to open this spring but after looking at the entire plan seriously, I postponed to the fall. The business will be my livelyhood which means there is no room to gamble. First thing, do not sign or commit to anything until the divorce is totally complete. If you are successful, he can come back on you with claims of participation even if it's something as simple as he thought of the name. Additionally you do not want to expend funds until they are legally yours. Been in this situation and the last thing you need once the business is up and running is to be attacked by ghost's from the past. Second, the current personal issue's lead to irrational and blind choices. Until you can think objectively and completely about the business, put it on the back burner. When the decks are clear of the husband issue, seriously start thinking about the business. If you have not owned or been responsible for a business you have a lot of research to do before thinking of where, when, or what. Do your market research!!! A tourist town is extremely difficult to base a successful business. Find a mentor, look to the SBA program SCORE. Make a realistic business plan (the most difficult thing you will ever do) that is based on the low income side. If at any time you need to approach a bank for funds you will need a sound plan. Make sure you plan to have at least one year of operating funds in the bank and ready to spend. You will need to have money for start up stock and replacement as it sells. Don't forget, you and the pup's need to eat and live so a salary has to be included in those costs. Know your overhead (operations, stock, utilities, taxes, rent, insurance, deposits, maintanence, web site, staff(and the extrodinary related expenses), bank and credit card services, etc, etc, etc) If you don't know your operation costs cold, you don't know how to price your services or products. Check the city expectations. You may save a great deal by moving your location just a few miles away. If your product/services are in demand, folks won't mind that little detour. Negotiate everything!!! What you save by negotiating goes back into your cash flow. This is just a tiny snapshot of the process. Jumping into a business without the process is a recipe for disaster financially and personally. Put the same thought process in the business as you would breeding your pups. Know everything about what/who you are getting involved with. Follow your gut and use your brain. Heart does not belong in your business choices other than deciding what market you will become part of. Never forget, it's all about cash flow! No cash, no business. Consider starting as an on-line business with a future opening of a storefront. Going brick and mortar creates an overhead few new businesses can support in the beginning. Oh, don't forget to vet the name. You don't want a legal battle over a name that is registered. |
| Ali, your plans for the knitting shop/classes sound wonderful. It sounds like a lot of hard work but with such potential. It also sounds like you are getting a lot of good advice here, so listen up, check out what you are and are not allowed to do re: disability, check with your divorce attorney re: timing so that there are no potential glitches there. Sheepdogma is right on. As for not being wanted or loved anymore: you most certainly are loved and wanted by those who count. |
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