Local yarn shop with classes

Hobby knitters and crocheters, beginners wanting to learn, and people buying gifts or supplies for a project.

Margin on yarn and tools sold, plus fees for classes, workshops and kits. Regulars buying for bigger projects drive steady sales.

• Knowing yarn types and knitting techniques
• Friendly, patient customer service
• Stock buying and basic bookkeeping

• Lease terms, rent and fit-out costs, check these carefully before signing
• Public liability and contents insurance
• Tying up cash in stock, start with a focused range
• GST registration once turnover reaches the threshold, check with the ATO
• Check local council rules on signage and use of the premises

Startup costs are typically around $25,000 to $80,000, depending on your premises, fit-out and how much yarn and stock you buy. These are estimates, so check rent and fit-out costs carefully before signing a lease.

Monthly revenue is typically around $6,000 to $25,000, depending on location, stock range and how many classes and groups you run. These are estimates of revenue, not profit, and the shop usually needs at least about 35 hours a week.

Check lease terms, rent and fit-out costs before signing, and arrange public liability and contents insurance. Ask your local council about signage and use of the premises, and check with the ATO about GST registration once turnover reaches the threshold.