So... Opening up a yarn store...

As you may have seen in my previous post, I put up a survey about opening a yarn store.

I have been given lots of advice, lots that I appreciate very much so, and some that are pretty much a given, such as "Do you realise it's really difficult maintain a business?" Uhhh, yes, I do. :D

It's interesting seeing all the results from the survey... Such as a lot of the knitters (and some of my friends) are more Coffee drinkers than Tea drinkers, majority of people will by 8/10ply yarn and Sock yarn, and the majority of you would like to see more Indie Australian products, followed by international yarns that are not readily available here in Sydney (in person that is, online is very very easy to obtain).

So my next step is to look into how I'm going to get all the products, figure out my calculations as to how much I need to sell and how much rent I can afford. The places I look at are getting a little wee expensive, which then requires me to go further away from the city. However there are so many people wanting it here, there, and everywhere around Sydney suburbia that it will be difficult to please everyone!

A friend of mine lives next to My Little Cupcake, and he told me that first it started up as an internet business back in 2002. Only a couple of years ago did it have a shop front, and it's not really near anywhere, it's smack bang in the middle of the lower North Shore suburbia. But apparently due to word of mouth, awesome publicity with SMH (has had write ups in their food/home section) and internet exposure that they're getting lots of business from mothers driving their kids after school having a cupcake for afternoon tea, and the many wedding/baptism/birthday/other major life event orders that happens over weekends. No matter where you are, as long as you have a well presented, friendly shop front (every time I'm there I always look into their store at their pretty pretty tea cups and home decor) and just awesome products, people will travel. Or order online. :D

I also read in the comments section in my survey someone suggesting (I don't know who, because you don't really leave your details behind) that I should start online and see how that goes, and slowly work on getting a shop front. Seeing as it worked for My Little Cupcake, maybe I should do the same.

I've been trying to get a job with Morris and Sons so I could get first (or second) hand experience in ordering and what people like buying and just how a yarn store is run. However, due to conflicting timetabling with my current job teaching piano, I believe it seems to be hindering my process in getting a job there (I've been knocked back 3 times already)... I'm with my current teaching job until at least the end of the year, and I don't know whether to continue next year (as it pays fairly well for the amount of hours I have with them) or to try again with Morris and Sons saying I can work full time and commit for at least a year or two (as I need to save money in order to start a business).

So it seems to me, seeing as a) I don't have enough money saved to start a business, and b) it seems hard for me to get a job in the yarn retail industry, I might try my hand at doing it at home. Last year I tried with the markets, but I think this time around I need to save a bit more money and find a product that no other online store in Australia has, and maybe make a presence in some of the markets such as Glebe (again).

For now though, folks, I shall be holding off any grand plans of opening a cafe/yarn store anytime soon. Thanks heaps for your help/contribution with the survey, as it's given me a bit more insight as to what the demands are like at the moment. Who knows, maybe I might be able to find an investor who's willing to fund my quirky plan and hopefully I'll be able to set this thing up as soon as next year. But for now, it still remains as a business plan...

One can only dream, right?