"failed" businesses

[Praise Works]

I went to the IMQS in Spgfield, MO and met and visited w/the owner/manufacturer of one of the LA machine companies. I didn't have a machine yet, and was visiting ALL dealerships. One of my (naive) questions was, "Is quilting a passing phase and I'm jumping in at a good time and then it will pass?" He chuckled, and kindly replied that he came off the farm as a young man and started by working on machines in a factory setting. From there, he quilted some, and moved into design and manufacturing. He said in all those years (he's an older white-haired gentleman who sold his company a couple years (?) ago), he'd NEVER seen this business plateau.

When I talk to my banker, I "educate" him as to this industry. We're quiet, to the rest of the world. We just need to let them in on the hustle and bustle of what it is to be IN the industry. One sign of a healthy growing industry, is the response time of manufacturers to the law of supply and demand. It's phenomenal in the quilt world! Let a well-known longarmer "mention" an idea, and see how fast the manufacturers make it happen - threads, tools, bells and whistles on the machines!! You see this at IMQS from one short year to the next. . . evolving stuff, new stuff, on and on

Another consideration for a financial source, is to see the maintained value of these machines. Someone earlier mentioned - how many "used" ones appear on the market? (and for what reason? - in these forums, people mention all kinds of health reasons, life-has-changed, reasons - I have yet to see one saying their business has failed. And if it has - the "bottomline" might be lack of discipline, etc.) Bankers understand depreciation - and look how little there is on these machines! I have a used machine for sale (I'm UPDATING!! Yea!), and I've been told I can ask what I paid for it 4 years ago!! Financiers understand "turn around" - people on these forums are constantly updating - not getting out of the business.

I agree wholeheartedly with JudyL - be realistic. I've chosen to quilt for local people - not branching out on the net. BUT, it's because part of my "pay" is to meet quilters one-on-one. I consider each one a friend just waiting for me to get to meet!! Another big part of my pay is to see that first look on their face when they see it laid out before them as they come to pick it up. I can't imagine NOT getting in on that. So . . . my prices will stay within what my marketable area can maintain. No, I'm NOT getting rich.

[busybee]

I too have seen some differences in the last yr or so. I agree If you ask for improvements they try to bend back loops for you. As far as failer. Working hard and keeping with you business plan. It will have its ups and downs some times but, your the only person that can decide that if it is for you. Allot of work and sweat but the rewards of seeing the look is great and meeting other quilters and sharing a common likes and dislikes. And new ideas that the customers have to share will keep you new and pumped. And have fun.

Nita