It is done!

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It is done!

New postby Pudge99 on Thu Jan 17, 2013 10:11 pm

No turning back now! I put a deposit down to hold the location. Got a lot to do and a month to get it done!!!
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Re: It is done!

New postby Mom of Six on Fri Jan 18, 2013 4:16 am

Good Luck!
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Re: It is done!

New postby SmilieFace on Fri Jan 18, 2013 5:31 am

Exciting! Good luck and good speed!
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Re: It is done!

New postby LeapFrog Libby on Fri Jan 18, 2013 10:25 am

Way to go, friend ! !
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Re: It is done!

New postby MartySews2 on Fri Jan 18, 2013 4:12 pm

Yay!!! Now, Gina, create a FB page to advertise your new business.
Marty ;)
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Re: It is done!

New postby missfleecy on Fri Jan 18, 2013 5:16 pm

Congratulations! How many square feet is it? Does it come with racks and shelving or do you need to buy all that?

My sister and her husband owned a 1,200 square foot (40 x 30) stationary store in her small town until they retired a couple years ago. I helped with their books for many years. They made a decent living (around $60,000 a year after expenses) with most things marked up 50% to 100% and a bit under a half million dollars (retail value) of inventory in the store at any time. If your business loan is even for $100,000 you should do well too! Good luck!

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Re: It is done!

New postby pinecone on Fri Jan 18, 2013 6:51 pm

wishing you all the best in your new venture.

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Re: It is done!

New postby temom on Fri Jan 18, 2013 9:01 pm

Congratulations, Gina!
How very exciting. Good luck, and be sure to keep us posted!
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Re: It is done!

New postby Pudge99 on Fri Jan 18, 2013 11:47 pm

Just under 500 sq ft, but will become just under 2000 within the next year or two. So the property and my business will grow together. I will be renting which is ideal for me right now. The owners acquired the building and are doing some major renovations returning it to it's former glory. The outside of the building has so much character, I can't wait to show you pictures. The small size allows me to get started with a smaller investment in inventory for which I am grateful. I have always said that the services and classes are where I want to focus and grow so this is good.
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Re: It is done!

New postby missfleecy on Sat Jan 19, 2013 12:31 am

That size will be perfect for starting out! There is nothing worse than a giant store with a bunch of empty space and shelves wth not enough inventory--that makes people think you're failing and they'll be reluctant to buy. You should be able to fill 500 square feet, and at that size you should expect to do $9,000 in gross sales a month (around $300 a day) once you start getting customers. So as long as you mark up the fabric enough, and your rent isn't too high, things should be good. (Around here 500 square feet of retail space would be $3,000/month, which cuts quite deep into $9,000, but from the sound of it I bet you got yourself an even better deal than that!)

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