Wool Shop

woolyclaire

Hello! I am currently thinking of opening a wool/craft shop around Virginia Co Cavan. Mainly because I have to travel an hour to my nearest one! Just wondering if anyone thinks this would be a good idea? Either a bricks and mortar shop or some sort of mobile wagon?
Thanks
Claire

looksee

Try and establish wholesale prices for yarn, and sundries, including transportation. Get an idea of rent, rates, insurance, fitting out, electricity, heating, etc for a small premises. Establish how much stock you would need to start, and cost. Then work out how much yarn etc you would have to sell per week to cover those costs, plus a wage for yourself. Look at the local population size, how many of them might be interested in knitting, crochet etc, and whether it is likely that they would purchase enough to meet those figures.

You say you have to travel an hour to buy wool, how often do you do that? Is it really that big a deal? Do you buy on-line? Would other people feel the same way - that is, would they occasionally travel to buy yarn, or would they buy on-line? Remember if you are doing research that most people will say 'oh yes, I think its a great idea' but that doesn't mean they would buy enough or sufficiently frequently to pay your rent!

It might just be possible that you could combine with someone else and have a coffee and craft shop, to bring people in. Whatever you decide to do you should look for a small business course and do the research properly, or you could waste a lot of money.

TreasureBin

All excellent advice from looksee.
I would also warn that just because there has been an upsurge in knitting/crochet over the last couple of years doesn't mean it will continue in popularity in the long-term so you're right to consider other crafts as well. And you'll probably need to add/drop types of crafts as they become more or less popular. It would be a good idea to hold classes/demos to encourage beginners or people who haven't crafted in a while.

You might like to start by selling online, to keep your overheads down, and see what the demand is like.

wmpdd3

I agree with look see about over heads and population.

I think the idea of a mobile van might have some merit, there are plenty knitting groups who may appreciate a seller coming to them especially if you could do demos.