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Yarn Shop Business, Getting Started

  • May 7, 2009
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This has been a dream of mine for years and for one reason or another it just never happened until January of 2009.  I live in a very small town, Elko, NV and the whole county just recently reached the 50,000 mark (just to give you an idea of how small). Now add to that the recent state of our economy, add one crazy girl (thats me) who does way too many crafts, and the one little surprise that gave me the opportunity to launch Hook, Yarn and Needles .  I never thought this would ever happen but thanks to a New age Shop, Enchanted Paper, who said to me...Why I will rent very cheaply to you my back room that is approx 100 sq ft so you can see if this is what you want to do AND to see if Elko can support a small shop.  Yes that is exactly why I just had to try it. 

Last week I moved 2 doors down into my very own 360 sq foot spot, I am terrified out of my mind but fairly certain that I am going to make this work.  I do want to share with all of you who may be thinking about opening a craft related shop how I am doing it and things that you should be aware of before you even get started.  Please keep in mind I do not know everything, I am smart enough to know that I don't.  I really just want to give you ideas on how you can maybe make this happen.  It would really help if you had just a little knowledge of bookkeeping, I happen to have quite an extensive background of it and if you don't, please don't let this stop you.  Depending on where you live there can be classes, some may be free, you want to get the basics.  Even if down the road you hire someone to do your books, in the beginning to save yourself some money and of course to keep your finger on your business, a little bookkeeping knowledge is worth learning and knowing. 

Different types of business must acquire certain license and taxes.  It is your job to find out what you need BEFORE you open your doors.  I can not stress this enough, although I was well aware of how much money I needed to get these things, surprisingly alot of people have no idea.  One really good place to start is your local Chamber of Commerce.  There you can find out all kinds of useful informations such as the location of all the offices that you will need to go to ie. Business License, State Business Licesnse, Power Company, Gas Company, etc.   If you made it thru all of that, the next thing I highly recommend is contacting the I R S  yes they do have a wonderful website with information that you will certainly find useful. 

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About the reviewer
Eva Owsian ()
Ranked #710
I just opened up a very small yarn shop in Elko, NV. As you can tell by my name I love to crochet and talk about it. I also Bead, Knit, Tat, Nalebinding, rug making, weave, and Rubber Stamps. I have 2 … more
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