Starting a Needlework Retail Business
Cross-stitching, embroidery, knitting, needle felting, sewing and quilting are all types of needlework, a hobby that is enjoyed by many people around the world. To create needlework crafts, one must have the proper supplies. While some crafters purchase the items they need from general craft stores, others prefer niche needlework retailers because they often sell a wider variety of supplies and patterns. If you are interested in needlework and looking to start a business, opening a retail store specializing in needlework supplies may be the ideal venture.
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Instructions
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Develop a business plan for your needlework store. Include analysis of your competitors, their strengths and weaknesses, the amount of money you will need to launch your store, your operating costs for the next three years and what will differentiate your needlework supply business from other craft retailers.
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Name your needlework business and get the permits and licenses required in your city to start a retail operation. This may include a fictitious name certificate, employer identification number, state tax identification number or resale permit. Your local small business development center will be able to let you know exactly what is needed.
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Secure a venue to sell your needlework supplies. You can open a physical storefront or an e-commerce retail outlet. Selling on the Internet is the cheapest way to start a needlework retail business; you can expand to a brick-and-mortar location once your business becomes established.
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Find a space to store your needlework inventory, if you will not be opening a brick-and-mortar store. A spare closet or commercial storage facility that is clean and free of pets, sunlight, odors and dust would work well.
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Open wholesale accounts with needlework supply distributors, such as Yarn Tree, and purchase inventory, or supplies to make your own embroidery and needlework kits. You will likely be required to provide proof of being in business.
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Promote your needlework retail store. Buy ads and post on popular needlework and crafting forums, blogs and websites. Host needlecraft workshops in your town, sponsor an artisan craft fair or competition, distribute exclusive coupons and discounts to local crafting clubs or advertise in crafting and DIY magazines.
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- Photo Credit Blue and coral quilt block background image by Bluebird from Fotolia.com
