Thinking of selling fabric. Need your help.
#11
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Location: Western Wisconsin
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I think the it's too risky at the present time unless you are independently wealthy and can stand a loss in your liquid assets.
Many small businesses fail within the first three years because they don't have all the components in place -- a written plan, sufficient financing, ability to advertise, ability to manage, ability to control costs, quality control, etc.
Many small businesses fail within the first three years because they don't have all the components in place -- a written plan, sufficient financing, ability to advertise, ability to manage, ability to control costs, quality control, etc.
#12
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i've been thinking about selling fabric online and at local shows.
the main reason i'm thinking about it is because fabric prices are so high and i'd like to buy it wholesale for me to use and then sell some off to cover costs and make a few bucks (nothing major).
i think if you're looking to make serious money from selling fabric and quit your day job you might want to wait and see what happens over the next year or so before you jump in.
the main reason i'm thinking about it is because fabric prices are so high and i'd like to buy it wholesale for me to use and then sell some off to cover costs and make a few bucks (nothing major).
i think if you're looking to make serious money from selling fabric and quit your day job you might want to wait and see what happens over the next year or so before you jump in.
#13
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Join Date: Dec 2009
Location: Enid, OK
Posts: 8,273
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Originally Posted by fabric_fancy
i've been thinking about selling fabric online and at local shows.
the main reason i'm thinking about it is because fabric prices are so high and i'd like to buy it wholesale for me to use and then sell some off to cover costs and make a few bucks (nothing major).
i think if you're looking to make serious money from selling fabric and quit your day job you might want to wait and see what happens over the next year or so before you jump in.
the main reason i'm thinking about it is because fabric prices are so high and i'd like to buy it wholesale for me to use and then sell some off to cover costs and make a few bucks (nothing major).
i think if you're looking to make serious money from selling fabric and quit your day job you might want to wait and see what happens over the next year or so before you jump in.
then there is the biz/tax ID, filing the taxes, trust me, it sounds like fun...but it is a huge headache at the end of the day!
I am in the process of closing my online store and still have $40K in inventory to move some how!
#14
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Originally Posted by jaciqltznok
Originally Posted by fabric_fancy
i've been thinking about selling fabric online and at local shows.
the main reason i'm thinking about it is because fabric prices are so high and i'd like to buy it wholesale for me to use and then sell some off to cover costs and make a few bucks (nothing major).
i think if you're looking to make serious money from selling fabric and quit your day job you might want to wait and see what happens over the next year or so before you jump in.
the main reason i'm thinking about it is because fabric prices are so high and i'd like to buy it wholesale for me to use and then sell some off to cover costs and make a few bucks (nothing major).
i think if you're looking to make serious money from selling fabric and quit your day job you might want to wait and see what happens over the next year or so before you jump in.
then there is the biz/tax ID, filing the taxes, trust me, it sounds like fun...but it is a huge headache at the end of the day!
I am in the process of closing my online store and still have $40K in inventory to move some how!
the $4000 a year or so is not a problem for me.
i work full time as an artist and have the assets to support the that kind of out lay.
#15
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Personally, I think an online business is just too risky. There are so many things to consider:
Are you going to take credit cards? If so, you will need to figure in the fees you will be charged for transactions.
How much does your bank charge for a business account? How much will the bank charge for nsf checks and return charges?
Don't forget shipping charges to you as well as to the customer. Plus you will have shipping supplies to purchase. That can run a few dollars too.
How will you handle a customer that states they have not received their order? How will you handle returns?
Then, if you do give a few extra inches on each cut of fabric, it won't be long before you have given away a couple yards from each bolt of fabric.
And I'm sure there are many more things that need to be considered as well.
You really need to put a business plan together before doing something like this. Talk with some shop owners and ask them the pitfalls of the business. Ask how long it was before they had an actual profit from the business.
I can understand your discouragement with poorly cut fabric. When the fabric is being cut, if you see the fabric is uneven mention it to the person cutting the fabric. Fabric distorts being wrapped on the bolt. Most of the time I just order 1/4yd more than I need. I feel this will allow for shrink factor and squaring the fabric.
Are you going to take credit cards? If so, you will need to figure in the fees you will be charged for transactions.
How much does your bank charge for a business account? How much will the bank charge for nsf checks and return charges?
Don't forget shipping charges to you as well as to the customer. Plus you will have shipping supplies to purchase. That can run a few dollars too.
How will you handle a customer that states they have not received their order? How will you handle returns?
Then, if you do give a few extra inches on each cut of fabric, it won't be long before you have given away a couple yards from each bolt of fabric.
And I'm sure there are many more things that need to be considered as well.
You really need to put a business plan together before doing something like this. Talk with some shop owners and ask them the pitfalls of the business. Ask how long it was before they had an actual profit from the business.
I can understand your discouragement with poorly cut fabric. When the fabric is being cut, if you see the fabric is uneven mention it to the person cutting the fabric. Fabric distorts being wrapped on the bolt. Most of the time I just order 1/4yd more than I need. I feel this will allow for shrink factor and squaring the fabric.
#16
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The way people are right now they are looking for bargains, and the higher the cost the less you sell. I have started several businesses and kept my costs down by not over stocking things right away. Look around your area how is the economy and will you be able to compete if there is another store like yours. If you are looking at selling on line just have to say there are many online stores to compete with. I took a business classes that really helped me learn how things work there is so much that needs to be accounted for. Learn before you lip!
#17
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I have done market research, market surveys and written business plans for clients for many years--get some help before you jump in and lose $$$$.
If you want some help on research or a plan, send me a PM.....
If you want some help on research or a plan, send me a PM.....
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