If you decide to go for it, best of luck!!! It would be an exciting adventure if nothing else. And I love Mason’s ideas. You could make your shop something above the rest.
Hi Susan! Oh boy, this is my dream Big Time. I’m up in the Catskills in a tiny town… surrounded by sheep and alpaca farms and the nearest yarn store is one hour and half away. But we can’t afford it! You know esp if your husband travels a lot, it sounds like it would be ideal. I also live in Manhattan and I’ll tell you, the yarn shops that win over the others are these places that either have a few big tables and various events (readings), sock night, guys night… but esp the ones that are really full have a ta da coffee bar and serve cappucinos and deserts. Always full of people. (my husband recently got an expensive cappucino machine and said if we ever get the yarn shop he’ll make the coffees)
Well, good luck. I’d certainly go for it ha! And you never know, those yarn shop owners you feel are in competition with you might decided to move to Florida next winter!
Before I say any of this, Let me point out I have no business experience. This is just me brainstorming, as I would preliminarily do if I were in your position.
First off, I suggest having fudge if you’re going to have coffee and tea. Maybe some cookies or something, too. Its extra work to cook these items, though, but homemade cookies and fudge are awesome.
Have comfy chairs in addition to ladderbacks, and both coffee tables and regular tables. Ladderbacks are great for classes, but if I want to just hang out somewhere and knit and relax, I want to curl up in a comfy chair. If you don’t have space, obviously wouldn’t work, but if you have the space…
I would make a list of what goods and services are offered by the other shops in the area, and what their target consumers are. Then determine what niche(s) are left, and what items are base items that you should carry because everyone needs them (a selection of needles, etc.). Depending upon my relationship with the owners of the closest couple of shops, I might even stop over and discuss with them “I am considering opening a yarn shop, but I don’t want to be direct competition with you because that is bad for both of us,” and ask for advice, areas that there is demand for at other shops that perhaps you wouldn’t think of, which perhaps they don’t have the space or resources for. The nearest small yarn shops in my area (admittedly about 45 minutes apart) all seem to be on good terms with each other, and the one lady I would totally go talk about this with her.
One thing that I see missing in the yarn shops I’ve visited is an awareness of what’s “happening” online.
I would love to go to a shop and see the “hot” patterns actually made up so I can fondle them in person – and maybe try them on. Is everyone talking about the clapotis? Have someone in the shop knit one up in a luscious yarn, spread the word, and you will sell a ton of that yarn. Even if they are patterns that you don’t sell (like the Simple Knitted Bodice, for example), make one up in a yarn that is carried in the shop, maybe in a couple of sizes even … and people can try it on to determine what size to make, and see it made up in various yarns. Knit up things from the new books that are out, and you will sell the books, too.
I can think of only twice when I was in an LYS and saw a pattern that I had to make. And I bought the yarn and the pattern right then and there.
Yeah - it could not work out and then you’d be stuck with all that yarn :teehee: that you can write off as a business loss :teehee: