Local wool shop with knitting classes

Local knitters and crocheters, beginners wanting lessons, and gift buyers. Class attendees often become regular yarn customers.

Retail margin on yarn and accessories, plus class and workshop fees, kit sales and online orders.

• Strong knitting and crochet knowledge
• Customer service and teaching
• Buying stock and managing cash flow

• Lease terms, deposits and business rates, so read any agreement carefully
• Public liability and stock or contents insurance, and employer's liability if you hire staff
• Slow months, as sales often rise in autumn and winter and dip in summer
• Stock can sit unsold, so avoid over-buying on your first orders
• Check planning and use class rules for your chosen premises with your council

Startup costs are typically around £10,000 to £40,000, depending on the premises, fit-out and how much opening stock you buy. These are estimates, so avoid over-buying on your first orders.

Monthly revenue is typically around £3,000 to £12,000, depending on location, stock, class numbers and your web shop. These are estimates, and sales often rise in autumn and winter and dip in summer.

Read any lease carefully and check deposits and business rates. Check planning and use class rules for your chosen premises with your council, and arrange public liability and stock insurance, plus employer's liability if you hire staff.