Thinking about starting my own quilting related business
#41
Super Member
Join Date: Jan 2009
Location: Hattiesburg,MS 39402
Posts: 1,458
I am old enough to retire, but I get free health insurance with a $500 deduct, so that said I'm sticking here a lot longer than I figured when I was 50. I would stick to my job or maybe ask them to put you on part time and see if you like that. I have a quilting machine and do some quilting for the public, I have found that they, especially your friends want it for nothing. All I can tell you is to pray about it and let the Lord lead you in the right direction
#42
Super Member
Join Date: Mar 2011
Location: East Tennessee
Posts: 1,053
I think I would stay with my job and pay down my debt. During that time, I think I would do a little research; find out how many professional long-armers were working in my area and perhaps talk to some of them about whether they stay 100 percent committed. Sometimes, people are willing to "farm out" certain jobs if they are overbooked if they know someone is doing part time work and is good and reliable. You could also use the time to do some careful financial planning--how much do you need to earn. How much can the local market support as a charge rate (What's everyone else charging?) How many quilts a week would you need to finish to make your needed profit? Are you, and be honest with yourself, able to churn out that many quilts, week after week, month after month and do a top notch job on all of them? Whatever you decide to do, the very best of luck to you.
#43
Senior Member
Join Date: Mar 2011
Posts: 471
Make sure you are a very good quilter from the very beginning. One bad quilt will hurt your reputation for a long time. I started part time and it took me 2 years to go full time but my area is heavy with long-term quilters.
#44
Super Member
Join Date: May 2008
Location: Rocky Mountains
Posts: 1,866
I have been told it takes at least 1 year to start making a profit at a home business. Can you go that long without the additional income? It would be good if you could talk to someone that knows about home businesses and can help you make a business plan and cover all the things to think about.
#45
Super Member
Join Date: Oct 2010
Location: Saratoga, Arkansas
Posts: 1,909
Just want to say good luck in whatever you decide to do. I know exactly how you feel about wanting to leave a job. Like someone already said, maybe you could either change employers or change departments. Anyway hoping you can find contentment somewhere.
#46
There is a lady here in town who runs a quilt shop out of her garage(it is a very nice garage) on weekends and evenings while holding a regular job. I can't imagine she is overwhelmed with customers, but she has a steady stream of regulars. Maybe you could start out slow by giving classes at the local YWCA or senior center.
#47
Super Member
Join Date: Jul 2010
Location: Ohio
Posts: 2,148
One secret to having your own business is to find a "nitch" I know a lady who worked as a seamstress before she "officially" retired. After retirement she started making sateen jackets with colored stars on them that are the colors of the "fresh beat band" members. She is selling them on Etsy and thru a web site. They sell for $100+. Kids buy them to wear to the concerts. She made $70,000 last year. She found her "nitch". Good luck to you!!!!
#48
Super Member
Join Date: Jul 2010
Location: Massachusetts
Posts: 1,097
Everyone has valid and very good advised. I know I will be staying in my job, you are all right. Very very hard to give up a great salary, benefits and fairly secure job. But I am so disappointed in it. I have lost my sparkle for this job. Maybe it's just the weather and I will feel better when the warm sunny days are back, it might honestly be that and I should look into this aspect. But I think I will still do some research and even but an ad somewhere for quilt and rug repairs and see what happens. Even a few jobs once in a while will be some extra income and will make me feel better I think. Thanks everyone!
In the meantime, your plan about part-time work outside the regular job is good. It will not only let you see what working for others(as your own business) is like and may help you with the regular job boredom which hopefully, will pass.
It took quite a while for my boredom to pass. I tried some Zen thinking about being at work, left it all at the door each night and tried to put more of my energies and interest into my personal life. Sometimes your personal life can be the background to your working life. Try to reverse that.
Good luck.
Last edited by selm; 04-13-2013 at 06:20 AM.
#50
Hi! What a great goal but I agree with everyone to pay off debt first. My husband was able to retire early but I am still working and my love for what I do weans every year. We have just come up with a plan to pay off our mortgage by September 2015. By that time we will only have a home equity loan to pay off. No mortgage, no car payment & no credit card debt! Trying to build up our savings too. It is fun to have a goal that we are going to work on together & keep each other accountable for. I love your idea if trying things out part-time. Sounds solid. I hope in a few years to be able to just have a job with much, much less stress just for the health benefits. We live in a small ranch house that suits us fine & dropped the idea of buying a bigger & better house with more land b/c neither of us wanted to work until the age of 80. Quality of life is so important. Anyway, good luck with your side business & I wish you much success!!
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