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  1. #1
    Shiny Thimble

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    Default Buying/starting a quilt store

    Hello Everyone!
    My name is Angel and I have an opportunity to purchase a quilt store from the original owners. They are retiring and I could purchase their client base and what is left of their inventory. This store is the only one in the area and it has a super client base. I am having a dilemna... do I purchase the client base and open a store or do I just open my quilt store and start from scratch?

  2. #2
    Missouri Star

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    Default Re: Buying/starting a quilt store

    By client base do you mean the suppliers? If it's already there I think I would keep them. That sounds like a lot of work to start over, unless you have contacts already. I have a shop here and the owner passed away. One of the long time employees bought it and kept everyone. I went in one day and didn't know. I started crying because she was such a nice lady.Maybe talk to them to get some input?



    Lorie

  3. #3
    The Guild President

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    Default Re: Buying/starting a quilt store

    Any business issues aside (e.g. Is it a profitable shop), is it the type of shop you want to run? I mean, if it is full of beige and lots of pink and blue florals, and you're style is more modern, will you have to change things over time to make it your own? Is the client base the type you hope to have, are the suppliers and any business contacts ones you'd want to keep?

    It sounds very exciting, I hope you'll come back and update us and join in here.

    We have a shop here that has fabrics I like, but staff I don't. And one just the opposite! It must be very hard to run a quilt shop just right when you have to blend your dreams for your shop with the local customers, but hopefully the two will mesh.

  4. #4
    Missouri Star

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    Default Re: Buying/starting a quilt store

    Not understanding what you mean by 'client base'. So you mean suppliers, or customers? I would guess it depends on the cost, and the bottom line of how much revenue they are currently generating, and do you think you can increase that? Tough questions all around.
    Blankets wrap you in warmth, quilts wrap you in love

    Marilyn......

  5. #5
    Missouri Star

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    Default Re: Buying/starting a quilt store

    I guess this confused me, ' I could purchase their client base'. Why are they selling too. Lackluster sales? Retiring?


    I was wondering where you live too. Here in Hawaii we have a ton of tourists that come and buy fabrics. The one I mentioned is almost half batik. It's very currant with that and and applique.
    Last edited by Hulamoon; November 12th, 2015 at 06:39 PM.



    Lorie

  6. #6
    Batting Beauty

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    Jul 2015
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    Default Re: Buying/starting a quilt store

    I agree with Stitchwishes "is it profitable" is #1. Smaller stores sometimes pay higher prices for products because they order smaller lots or order through third party vendors who buy the larger lot orders. I would advise having a bookkeeper or accountant look over their books before considering making an offer.

    Have you worked in or run a retail store before? If yes you probably know what to expect. If not, there is a lot to it that most customers never see. Just a few examples, store rent, lease agreements with the location landlord, insurance, alarm systems, nightly deposits, employee issues and more. Paperwork - daily and monthly reports, quarterly and year end taxes. My experience was that a good bookkeeper combined with a good point of sale system made retail life a lot nicer.
    Is it something you would enjoy enough to balance out parts you dislike? If it is profitable and you love what you are doing, well, to me that's a win. All that said, the store "could" be a great opportunity. But there is a lot to consider.
    Last edited by Irene221b; November 12th, 2015 at 07:16 PM.

  7. #7
    Missouri Star

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    Default Re: Buying/starting a quilt store

    client base = people that shop in the store.

    Now, other than emails/addresses of the people that they sell to, I'm not exactly sure how you can purchase a client base for a brick and mortar shop. They can't sell you people. If this is a big part of the purchase price I would be more likely to start from scratch. If they are an online store I can understand more about purchasing a client base.
    K is for Karen .....................Cremation - My last hope for a smokin' hot body.

    Before you speak,
    T - is it TRUE?
    H - is it HELPFUL?
    I - is it INSPIRING?
    N - is it NECESSARY?
    K - is it KIND?


    Check my User Notes.

  8. #8
    Missouri Star

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    Default Re: Buying/starting a quilt store

    Quote Originally Posted by K. McEuen View Post
    client base = people that shop in the store.

    Now, other than emails/addresses of the people that they sell to, I'm not exactly sure how you can purchase a client base for a brick and mortar shop. They can't sell you people. If this is a big part of the purchase price I would be more likely to start from scratch. If they are an online store I can understand more about purchasing a client base.
    It could be their mailing list.

  9. #9
    Missouri Star

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    Default Re: Buying/starting a quilt store

    Good luck.
    Blessed are the children of the piecemakers for they shall inherit the quilts!

  10. #10
    Shiny Thimble

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    Default Re: Buying/starting a quilt store

    Thanks everyone for the insights. Here is more information about the shop. The shop makes and $125,000 a year. The client base are the clients that they have in the shop should be emails and addresses. They would also help me with distributors and people to purchase fabrics from. Their point-of-sale system is awesome. It is designed for a quilt store. They have a bookkeeper that they employ that would be willing to stay on. Their staff is nice I have been in their store before. They're asking $350,000 for their store client base in inventory. Does this seem reasonable?

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