Paying for your machine

[AnnHenry]

I\'d like to know how long it took you to earn what you spent on your machine / as in the "break even" point? Most of the LA\'er\'s I have talked to tell me three years, but I think most of them have full-time jobs outside the home.

Thanks bunches.

[nora123]

Hello,

Ok I will start. I bought my millennium used for 12,500.00. It went to APQS and was completely gone through and then sent to me. That was last march. To date I have made enough to pay back about a third of that. I borrowed the money from myself really and DH. I keep a large balance in my business checking to cover thread, batting ect. I had magnetic car signs made and that was my best ever advertisizing dollar. I had business cards made. I have purchased the circle lord and many templates. But those were an investment in my business. I guess what I can tell you is this. Think of this as a business that will probably take you a few years to get off the ground realisticly. I still have my other job. I hope to be just LA ing by next year. I hope this helps. I had the same question and did not receive very accurate info off the dvds the different company\'s will send you for free. I would do it all again in a heart beat. I love my machine and I love quilting. I cannot go one day without stitching something together.

Sincerely,

Nora

Millennium

Washougal WA

[Bonnie]

In all actuality.....if I had totally waited for my machine to pay for itself and I had purchased a more expensive machine like a Millie...I would still after 9 years be waiting for it to be paid for.

My ULT II was only $5000 in 1997, and I was able to pay back hubby for the machine in 5 years....keep in mind that if you are running a business that you have other expenses that also pile up and there is always something else that needs a payment, so 100% of your quilting isn\'t always returned to the quilting machine. This goes for even if you have the machine in your house. You have to somehow pay for your extra electricity and general wear and tear on the house just like a office.

Now you must keep also in mind that this was me and what I was able to get out of the area that I was in at the time. Each person is going to have a different story....each quilter will have a different situation of how many quilts they get each month or in some cases that should be measured by how many quilts they get in a years time...

How much research have you done in your area....what can you expect with time and practice to have come into your house....have you contacts with a guild or are you just going to go around with samplers and market your wears with all the LQS....

Just a bit of food for thought.

[mrsbishwit]

I agree with Bonnie, every situation would be different based on whether or not you went with new and all the bells and whistles/ top of the line including compuquilter or if you bought a used basic model machine then figure in your area and if there is a demand for more long armers or if the area is already over satruated with them.

Now a days with the potential customer\'s disposable income getting smaller do to current situations with the morgage crucnh and the other rising costs that is driving the cost of living up but not the average income the number of customers that once drove this business is starting to back off in a lot of areas that once was booming take that into consideration that the once unafordable long arm machine is now more affordable for some (just like the high end sewing machines were once out of reach for some have saturated the market and is in more homes than before).

It would be hard to guess how long it would take to pay it off. But a way to give you an idea is to take the past 3-4 months worth of your info and project using your own info and data. If you had very few customers in the past than chances are it is going to take you longer than you originally thought it would however if you have the customers beating down your door than you are in pretty good shape and could assume for now that is that it may continue allowing you to pay it off sooner.

One thing I learned in this business is there are no gaurentees and you are better off to buy these machines out right without having to financed them that is if you don\'t want to risk loosing them in the lean months or years.

[chickenscratch]

Okay, maybe I\'m way different. but I bought my machine used for $6000, borrowed the money from my in laws and just now got it paid off; not with quilting money, but money borrowed from other bills and accounts.

[Mary Beth]

I bought my Millie - new - 4 years ago has it been that long Maybe 3 1/2 years ago...any who...DH and I made payments because I worked a full-time job, not because business was so good. Business is steady now, machine is still not paid off, but getting much closer. Don\'t fall for the line "they" give you, "You can pay your machine off in one year", that is not typical. That is for the very, very gifted quilter. Maybe you are one of them and you can pay your machine off in a year. I have not met one person who has done that. Sometimes it can be a real struggle. I have seen very good quilters that are ready to give it up because it is a difficult business to build. I have seen people post message here that are in tears because they are struggling to make payments. It is not easy.

Saying all of that, I will say this. If you are diligent. If you have connections. If you have done your homework and know there is a need for quilters in your area. If you feel you can build a good customer base and keep it. If you have a talent for quilting and take to it like a duck takes to water, then you are onto something and should go after it like gang busters.

Good luck it is an exciting field. Lots of really great people, some of the best I have ever known.

[ffq-lar]

Well said Mary Beth!!! Absolutely on the button.

The wonderful info you initially get says you can pay that machine off in a year--all it takes is 2 queen-size tops a week. Well.... sure you can.

But all of us are here for a reason--we love it! Best decision I ever made, next to acquiring my DH, of course.

If I put aside every penny I have earned in three years, I still would be short of paying off my Millie. But look at it this way--I may be a couple thousand behind, but I have a machine I could re-sell for about $12,000 even though I hope I would never need to sell my baby! So I guess the break-even point would happen when what you owe on the machine is equal to what you could re-sell it for. And with the low depreciation on these machines, break-even could be in the first year!!!

Good luck and Happy New Year!

[Gator]

When you\'re thinking about how long it takes to pay the machine off, don\'t forget to include the money you would have spent to have "your" quilts sent out for someone else to quilt for you. I make a quilt every month or two, if I had to have someone else quilt them, you\'re talking the price of a payment or two.

[MarieBrewer]

I have been quilting for people for about 1 1/2 years. Considering my stash of fabric, thread, stencils, CL, etc., I\'m not close to the break even point. My DH was kind enough to buy the machine so I don\'t have interest charges. The only good $ comes from pantos. Before I got my machine, I talked to a lady at the QS and she said she paid for her machine in 1 year. I can see that-she\'s well connected. I knew I wouldn\'t do that, but it does take more time than I thought. I think the 3 year point sounds more reasonable. Even so, I really enjoy it and am glad I have the machine. I think I\'d like to have my own studio building on our property but there I go again putting myself into a bigger hole.

[victoriasews]

I earned enough to pay my Millie off in 14 months. Notice I said EARNED enough, but I have invested in a Circle Lord, DVD\'s, rulers, books, and some pantographs. I also had worked in a quilt shop for 3 years using my boss\'s machine so I had a strong customer base, and when I left the shop after my husband bought me my machine, many of them came with me.

There are half a dozen talented, very sweet long-armers in my area, so I invest extensively in classes, DVD\'s, and the latest techiniques to keep fresh. I visit webshots, check the chat sites, visit shows, and enter in local contests to keep my work out there. I also take time to love every minute of it, quilting some of my own stuff, enjoying guilds, and spending time with quilting friends.

[Katydids]

I bought my machine new the end of May \'05. I started taking customer quilts in June. As of this date, I have EARNED enough to pay for it, but like all the others have said, there are alot of other expenses. I WILL have it paid off this year.

I don\'t get alot of support from the LQS\'. 2 of them have their own in house machines. I do have a pretty good customer base, though, and am hoping to really network and expand that this year. Have big plans for the future

[pigletaz]

I don\'t want to be the only real "downer" here but, here is my little story. Last summer I was finally ready to take the plunge into long arm quilting. My parents paid for my machine as my husband and I were having marital problems and he was not supportive of my career path of quilting for a living. Since then, our marriage has ended and my once well-thought out business plan has collapsed because I need income now, not in 3-5 years (I was a stay at home mom for 8 1/2 years). There are several very talented LAers in my area and they are fairly busy. I have contacted every quilt shop in the valley and they are innundated with other LAer services. I even offered to do shop samples for free, but no luck there either. In the four months I had my machine, I had 2 paying customers totalling about $180 in profit. I just listed my dear machine under "used machines" on this chat. Hopefully, some dear soul will take the machine off my hands.

My home is for sale in this dismal housing market. Fortunately, I will make a profit on the house once it is finally sold. And since it is a buyers market it will make it much easier to buy another home which I can afford easily.

Long story short, please do your homework and be realistic about how many customers you can possibly attract and how long it will take you to cultivate repeat business. I love the people at APQS and they have been nothing but helpful. But please rely on your own experience and talk frankly with LQS\'s in your area.

After my machine sells, I still plan to lurk here to keep my spririts and inspiration going. Take care.

[Stagecl]

Renee makes a good point and I agree with her that it is a business that sometimes takes time to build a customer base...if you need income now you may be out of luck. It has taken me about 2 1/2 years to build a substantial customer base. I have been quilting for 4 1/2 years. I paid my Millie off in 2 years. I also add a CQ to the Millie and bought a Liberty...it will take about 1 1/2 years to pay them off (I am almost there ).

What has happened in our area is the influx of new LAer\'s and of course they want business too. Some of the LAer\'s in the area have seen a decrease in business because of all the new quilters. We have a LA group here in Richmond. There are 22 members all with machines or mid-size machines...and the number is growing. Yes, the market here will have too many people...yes, I am thankful that my machines are almost paid off.

What it gets down to is what is happening in your area, what you charge for your services and how quickly you develop a customer base.

I hope all turns out well for you, Renee. I\'ll keep you in my thoughts and prayers.

[Hollyrw]

I will probably never "break even" with my quilting but that\'s okay. I bought my Millie for me, making some money with her is just a bonus. Since I do have a business, I can deduct supplies, depreciate the machine and stuff like that. I let the accountant handle it. LOL I can understand and appreciate how difficult it is to make a living at it, especially if one is working a regular job as well.

[Mary Beth]

Very true Hollyrw. It has to be a passion and not a way to make a living. If you are a quilt maker who had a driving desire to take it to the next level, go for it. However, I have a customer who has been a piecer for several years. She has 3 machine quilters, me being one, she brings me 4 quilts each time I call her to tell her that her quilts are ready to pick up. Now, if she does that to all 3 of us, she is one busy lady. She has told me not to worry about running out of quilts, she has more then I could possibly do in a lifetime (job security). A local LA\'er gave classes so she could rent out her machine to anyone who had completed the classes. My custome tried it and hated it (yippee) and said she was leaving the quilting to us, she would do the fun stuff. That is how some people look at it I\'m sure. But for me, being a part of some small piece of history...that is the really great stuff. So I push in my business because my husband is a worry wart....but I do it for the love of quilting...not because there is money to be made.

In my opinion you need a gimick to make it a business. Come up with an unusual technique or tool or both...then you are onto something.

[mrsbishwit]

I got into the business 3 years ago, when the housing market was on the rise and DH and I were able to refinance our house to use some of our equity to buy my Liberty so my machine is bought and paid for (no chance of ever loosing what I already own). DH wanted me to get the a Millie but I wanted to make sure that I wasn\'t bitting off more than I could chew and I also wanted to have some extra money to spend on patterns and supplies so the Liberty was a good fit for me at the time. I was lucky, at the time my LQS just opened in the area and there wasn\'t a lot of LAmers for hire that advertised there. I marketed myself and my skills with pantos and built a pretty good customer base. But this past year I was thinking that I would want to expand to a Millie and a compuquilter but would have had to actually take a loan out for it and make payments on it, fortunately for me I wasn\'t able to get the loan. Soon there after the area got saturated with about 3 times more Long Armers in my area than there were just months before...some were trying to get a business going where others were just trying to save $ by doing their own quilts vs sending them out to have them done. Either way business has slowed WAY DOWN in the past few months and new customers are slim to none. If it weren\'t for my original customer base I would not have any quilts in house at all right now.

So I have redone my website and eliminated the services and products that I have offered in the past to focus on the bread and butter "pantos" in hopes to boost sales and cut my over head. If this does not work then my once very profitable business falls to the declining economy and the rising cost of living.

If someone would ask me if this was a good business to get into for 2008 I would tell no and tell them it would be a long shot to build a business at this time and that they should wait a couple of years to see if the market improves any before investing in such a risky business adventure. However if they were only interested in buying one of these machines for their own enjoyment and could afford it without any financial drain then I would tell them go for it, and fun with it.

[chickenscratch]

Joann, you make some excellent points; and I believe that the more affordable the mid arm and LA machines get, the more it will hurt business. More people will be able to buy a machine and do their own quilts.

Isn\'t this the way it was with computers 10 years ago, they were so expensive and hard to operate that not many people had them. Now they are so cheap and easy to use, almost everybody has one.

[QuiltSnob]

Hi All,

I bought my machine last year and I never expected it to pay for itself. I keep my full time job and quilt on the side. I am lucky since my best friend and I bought the machine (Milli) together. I understand you can have it pay for itself but I am much to lazy to work that hard on others quilts. I do them just for me. I do love creating the quilts from start to finish. Happy Quilting to all!

[yeoldeforest]

I have 5-year loans for both my CQ and Milli and my goal is cover the loan payments since my first job does not cover this additional expense. I also work a full-time job, so quilting is done on weekends.

So far I have been able to cover the loan payments but it is difficult not to keep buying the additional supplies that a long armer needs...batting and thread can get you fast!

I\'ve also lost my weekends to a part-time business but I hope when my "toy" is paid for, it will be worth it.

I can\'t imagine trying to make a living at this sport.

[JenMcManus]

I was lucky to be able to buy my Millie outright in October of last year. My dad died in a motorcycle accident the previous year and left me a bit of money. I did one responsible thing (put a new roof on the house), and one fun thing. Guess what that was? So, my Millie is paid for and I still have enough for startup expenses. A tough price to pay, but Dad would be proud to know I was starting my own business.

Jen

[RitaR]

This is my second long arm,, first real one.. I bought the old DM just to do my own quilts. Since I donate almost all of them, I just couldn\'t afford to send them out, and couldn\'t physically manhandle them thru the dsm.

With Penny, I already have offers of jobs from the guild and members there, and a few others who are learning to quilt. I\'m hoping to educate them to flat borders, ccnipped threads on the back, pressing seams open or to one side depending on the pattern, etc.

I\'d love to be able to quilt enough and well enough to pay for the beauty, but doubt I will manage that, when I will have my own quilts to be put in line. I\'m hoping for at least two of my own per month, one of which I will keep and the other to donate.

Sometimes a purchase doesn\'t make much bookkeeping sense but in peace of mind and lack of tension and frustrations, it more than pays for itself.

The last is the way Penny will pay for herself and I hope some extras..

Jen, is the Flying Lady still there?

RitaR

[quiltmonkey]

Jen,

I am sad to learn that your dad died in such a tragic way. What a wonderful way to honor your dad\'s memory with those two purchases (a roof and a longarm) -- I am sure he is smiling down on you from heaven knowing his girl is warm and dry, and happily quilting away on her new toy.

Me, myself, I have been wanting a longarm since 2003/2004, so I started saving my pennies and stashed away cash. I really bought this thing for me and my personal enjoyment and creativity. However, if I can make a little bit of $$ to help pay expenses and do a little business quilting for others that is great, too.

I just got the longarm middle of last year 2007, I have a full time salaried job so that is paying my bills. I am still learning and discovering, and the word is starting to get out that I will do quilting for others but I am not counting on that to pay my bills. I am taking baby steps and one day at a time and having fun. We shall see what the future holds!!

[Susanri]

I too went the way of a used machine from apqs that I could afford to pay out right. so there are no pressures or nightmares. the little i do make I put back into batting thread pantos and other fun stuff like dvd s lessons and books.

PLEASE read a "Referal of a lifetime" by blanchard

[JudyL]

I haven\'t read all the replies so what I\'m going to say may have already been said. Already having an established business, there have been many years I could easily have paid for a new Millennium with my profits but if I were just starting out, without a customer base, it would be difficult to pay off the Millennium in one or two years. I\'m sure it can be done and so much depends on your area, the prices customers are willing to pay and how much time you want to spend quilting.

One thing I encourage new quilters to consider is the cost of doing your own quilting. I either couldn\'t or wouldn\'t pay any of you, even though you\'re all fantastic quilters, to do all my tops. I make a lot of quilts and some of them I quilt to death.

Owning my own Millennium is worth a whole lot to me! Not only can I quilt for others and make money, but I can do anything I want to with my own quilts so that I\'m able to enter them in shows and use them as show and tell when I\'m teaching.

I hope all of you who are struggling to get new customers have more than you can possible handle during 2008!

[JenMcManus]

RitaR,

No, the restaurant closed several years ago. I have only read about it.

Jen