Potentially Life Changing decision - looking for input
So ... yesterday I headed over to my favorite yarn store in Centreville. And ... it's for sale.
As far as I know, they're not going out of business. The owners are in the midst of personal difficulties, and I think they're looking to sell it and avoid the legal issues that may come between them.
I haven't called about it ... yet ... but I spent the rest of yesterday seriously thinking about it. I love knitting and textiles. It has been a vague dream of mine to own my own store that has knitting/craft supplies, books and maybe serves tea.
Here are the drawbacks - and why I haven't made the call yet.
*I don't have the capital - I/we would have to borrow a substantial amount of money to make this happen.
*I don't have a business degree, and I've never run a business. I know there would be a steep learning curve. To my advantage, the staff there wishes to continue working there and they're brilliant women
*It would completely alter my life. I would no longer be on call - but I would have a business that needs to run *every* day.
*It's not around the corner from my home. It's about 35 minutes from me - but not a hard drive.
*I know the economy isn't stable, but I believe it will improve. The shop is in a great place with lots of foot traffic and visibility and surrounded by lots of necessary businesses (a market across the street, restuarants, Starbucks, etc)
The very idea frightens me - but it's exciting too. I'm a quick learner, I think I could make this work, but honestly I have no idea of all the things involved. So, I'm looking to you, the LJ brain trust for suggestions and potential advice. Especially those that own a small business (or a large one).
Comments are unscreened.
As far as I know, they're not going out of business. The owners are in the midst of personal difficulties, and I think they're looking to sell it and avoid the legal issues that may come between them.
I haven't called about it ... yet ... but I spent the rest of yesterday seriously thinking about it. I love knitting and textiles. It has been a vague dream of mine to own my own store that has knitting/craft supplies, books and maybe serves tea.
Here are the drawbacks - and why I haven't made the call yet.
*I don't have the capital - I/we would have to borrow a substantial amount of money to make this happen.
*I don't have a business degree, and I've never run a business. I know there would be a steep learning curve. To my advantage, the staff there wishes to continue working there and they're brilliant women
*It would completely alter my life. I would no longer be on call - but I would have a business that needs to run *every* day.
*It's not around the corner from my home. It's about 35 minutes from me - but not a hard drive.
*I know the economy isn't stable, but I believe it will improve. The shop is in a great place with lots of foot traffic and visibility and surrounded by lots of necessary businesses (a market across the street, restuarants, Starbucks, etc)
The very idea frightens me - but it's exciting too. I'm a quick learner, I think I could make this work, but honestly I have no idea of all the things involved. So, I'm looking to you, the LJ brain trust for suggestions and potential advice. Especially those that own a small business (or a large one).
Comments are unscreened.