Business Overview

Also called a “knitting store,” a yarn store sells supplies related to the knitting craft. Normally, they sell yarn balls, crochet hooks, knitting needles, patterns, knitting accessories, and crocheting accessories. Yarn stores can sometimes supply other crafts, giving buyers the materials they need for a number of hobbies.

Who is this business right for?

A yarn store should be owned by someone who truly enjoys knitting. Good yarn store owners like supplying knitting supplies at low prices. They also enjoy spreading the knitting craft with others. Normally, yarn store owners host retreats, giveaways, and fun activities for customers.

Yarn store owners should be people-oriented. They need to connect with customers, focus on developing relationships, and enjoy ongoing knitting projects.

What happens during a typical day at a yarn store?

A yarn store owner needs to stock the supplies needed by knitters. They also need to supply different project outlines, yarn designs, and other tools.

Yarn store owners normally host workshops, too. Others may create guilds or enthusiast groups. Normally, these groups promote a sense of community while boosting store sales. Knitting projects take time to complete, but customers can finish them quickly if a yarn store owner is a good teacher.

From an administrative standpoint, a yarn store owner needs to supply the store’s goods, conduct maintenance, pay the bills, market, and manage workers. Customers need to be pleased, and any guilds need to be taken care of.

What is the target market?

A yarn store’s return customers are crafting enthusiasts. The best customers are those who know what they’re looking for. A yarn store retains customers when those customers become part of a store’s “community.” Like small game shops and cafes, yarn stores succeed with the help of community efforts. It isn’t rare to see groups of knitting enthusiasts spend time in a yarn store. These customers will be your most lucrative customers, and they should be prioritized.

How does a yarn store make money?

A yarn store makes money by selling knitting supplies. They can also sell knitting books, guides, and other informative materials. Some yarn stores sell knitting enthusiast gifts, like mugs and t-shirts.

Yarn store owners can make money by growing a community. These communities can be charged for lessons, workshops, events, food, and trips. Yarn stores can also partner with nearby businesses, gaining community insight while striking deals.

What is the growth potential for a yarn store?

Any hobby supply store needs to balance self-sufficiency with growth potential. Because they’re often hole-in-the-wall type stores, they rely on local support to thrive. Larger yarn stores may want to expand their services. By offering general crafting supplies, a growing yarn store can compete in the national market.

For most yarn stores, however, becoming a go-to local choice is normally a goal. Unfortunately, a lot of local yarn store owners are forced out of business. To grow effectively, a yarn store owner needs to appeal to local communities while also having competitive prices. A good marketing strategy goes a long way.