How to Own a Fabric & Crafts Store
If your idea of the perfect place to shop for sewing and crafting supplies is small and intimate, bring back the era of the sewing emporium by owning a shop that appeals to the sensibilities of others who share your nostalgia. A small shop can pack a big economic wallop when you marry ambience and the right mix of supplies, so follow your dream and devotees will come, scissors, needles and pincushions in hand.
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Instructions
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Make imitation the sincerest form of flattery by investigating existing fabric and craft businesses to see how they've set up shop. Observe the ways small business owners maximize store space using walls, ceilings and vertical fixturing to display products attractively and efficiently. Apply for a business loan if you need cash to jump-start your store.
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Conceive a budget for your fabric and crafts store. Identify brands and products you wish to stock. Query sales representatives for help with best-selling merchandise, case pricing and minimum order buys to help you project start-up stocking costs.
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Prepare a financial statement covering your investment capability and the amount of cash you'll need to open your doors. Include items like rent, utilities, insurance, marketing, interior build-outs and office-related essentials, like a computer system interfaced with cash registers to record and track expenditures and receipts.
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Use a realtor to help you find shops in areas frequented by crafters: strip malls that appeal to stay-at-home moms, seniors and DIY aficionados. Strongly consider a location near a big box store that stocks fabric and crafting supplies; make it easy for crafters to comparison shop for supplies without having to travel far.
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Obtain the shortest lease possible on the store you choose. File for city and state licenses and permits required to open your fabric and crafts store. Oversee the interior remodeling of your store using a plan-O-gram to save time and effort. Direct the installation of wall and island display modules destined to accommodate fabric bolts, notions, trims, sewing machines and supplies.
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Follow trending research to prepare your store's craft aisles for a limited number of niches (e.g., knitting, art, scrapbooking, needlepoint, candy making, etc). Don't try to feature every craft under the sun or face a tracking nightmare with that much inventory. Additionally, you'll run the risk of too little walking room and cluttered shelves.
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Put your brand on your fabric and crafts store. Schedule workshops, lectures and crafting club meetings to provide customers opportunities to socialize while they work. Reserve space for worktables, for seminars and demonstrations. Stock supplies for your crafting events so participants don't go elsewhere for materials.
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Affiliate with nonprofits like The FabShopNet Retailers' Association, the Industrial Fabrics Association and other organizations devoted to helping small craft and sewing retailers like you build thriving businesses.
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Tips & Warnings
Make certain there are excellent sight lines between your cash register and your priciest merchandise to minimize shoplifting risks.
References
- Photo Credit indian fabrics image by Melissa Schalke from Fotolia.com
