Starting a quilting business will be no different that any start up business venture and simply having a good quilting machine and some fabric does not necessarily mean you are ready to go into business. Because running your own shop will mean that your work will contribute to your family’s finances, you need to make sure it has a chance from the outset. Before starting a quilting business, invest quality time to determine if there is even a market for your products. Check with other quilters or notion businesses to conclude how great the popularity of quilts is in your area.
If there is small amount of interest, but perhaps not enough to support the business full time, you could consider giving quilting classes to help pay the bills. Check with the quilt finishing business about how much work they have. Are they caught up or do they consistently run several months behind. If it is the latter, there may be a viable market in your area for starting a quilting business.
The Need for Quality Equipment
Take a good look at the equipment you own. Determine if it is going to last at least a year and try to determine if it will allow you to keep up with your projected demand. If not, what type of new machine will you need to purchase? Keep in mind that it should pay for itself within a year to order for it to be a viable purchase. Having all your equipment in good workable condition before starting a quilting business can make your entry into the market much more profitable.
If you plan on starting a quilting business out of your home, be sure to check the local zoning laws to see if it is allowed. Also check with your country auditor about a tax license and find out if you are required to have one. Most states require that sales of any kind will need to collect sales tax and then send it to the state throughout the year.
Additionally you will want to invest in marketing materials, such as business cards, brochures and a web site. This is how you can advertise your creations as well as keep several quilts to display in your business and at local shows. By joining quilting organizations, as well business organizations, you will be able to get the word out much more quickly, that you are starting a quilting business.