Business – Can I run a wool shop?

A lot has happened since my last post, the details of which I won’t go into. I’m back though, and in April you can expect a post nearly every day as I’ll be taking part in the A to Z blog challenge. Then in May I’ll be taking part again in the Knitting and Crochet Blog Week, so there’s a lot to look forward to!

I’m currently in the middle of making a big decision. A wool shop nearby is for sale, along with all its stock. It’s basically an entire established business for sale. We were driving past it when I noticed it for sale, and being curious I looked it up. It’s only £15,000 and has a turnover of £51,000 apparently. I don’t know any other details yet and I’m debating whether it’s worth asking. The idea of running my own wool shop is wonderful, if somewhat scary. I’ve also thought up so many ways I could improve on what’s there and increase the customer numbers. I have the people skills, I certainly have the interest and knowledge of the stock.

On the other hand, can I commit to it? I wouldn’t be able to afford staff at first so would have to be there all the time, and I imagine the amount of paperwork and stress involved would be huge. I also don’t have £15,000, which is another slight problem. The question is, are there more positives than negatives, and would the business continue to be profitable straight away?

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