Business Overview

This highly profitable and immensely popular quilting retail and service business caters to quilting, sewing and embroidery hobbyists and professionals across Central Virginia and nationally. Quilter’s Corner has recently been recognized as one of the top 10 quilt shops in North America by the Fall 2021 Better Homes and Gardens Quilt Sampler magazine. In addition to selling all types of quilting, sewing and embroidery supplies and equipment, this business conducts many onsite classes, training workshops and events throughout the year. Many quilters rely upon this shop for education, consulting and specialized services in creating their complex projects. The business is an Authorized Dealer and Service Center for the Brother brand machines. Diversification of products and services has really helped this business thrive! It has a well-established presence online and through various social media channels. For over 20 years, quilters in Central Virginia have called this community-oriented shop their home!

Business History

Quilter’s Corner was founded in 1998 and has been under its current ownership since 2011.  In 2016 the store was moved to it’s current larger venue in the Sycamore Square shopping center to accommodate its significant growth.

Markets and Customers

Quilter’s Corner caters to quilting, embroidery and sewing hobbyists of all skill levels.  As a one-stop shop for all supplies, equipment, services, and classes, it has become the go-to place for all things textile-related.  It maintains a loyal Facebook, You Tube and Instagram presence. Quilter’s Corner primarily serves Central Virginia but does have an online shop presence which has increased its reach nationwide.  There is ample opportunity to expand upon this. It is actively engaged in the community hosting charity quilting groups and community yard sales.

Facilities

The stand-alone building is a leased 7700 SF retail facility located in Sycamore Square in a busy commercial district.  Large, bright, and attractive retail space upfront, open area for classes and workshops in back, with a dedicated area for longarm services.  Rear of building includes administrative office, machine service area, storage, delivery area, and team break room.  Unfinished walk-up attic is accessible but is currently not used.

Team members

Quilter’s Corner has 3 salaried, 14 part-time team members and several contracted teachers.

Team structure includes: Owner, Manager, Team Lead, Customer Sales Associates, Longarm Coordinator, Education Coordinator, Receiving Associate, Website Associate, Brother Technician, Brother Machine Sales Specialist, Brother Machine Educator, Class Instructors.

Current Ownership and Structure

  • Years Owned: 10+
  • Stockholders: Tiffany Sherman, 50%; Gerry Sherman, 50%                                   
  • Form of Organization: Limited Liability Company (LLC)
  • Date of Incorporation: May 2, 2011
  • Business Year End: December 31st
  • Type of Statements: Compiled
  • Accounting Basis:  Accrual
  • Primary SIC Code: 5949
  • NA Industry Class (NAICS): 451130

Highlights

  • Stellar reputation in the quilting community.  Active member of several industry organizations and online forums.
  • Twice designated one of the top 10 quilting shops in North America by Better Homes and Gardens Quilt Sampler Magazine, Fall 2008 and most recently, Fall 2021.
  • Proven longevity – active business in Sycamore Square for more than 20 years.
  • Quadrupled yearly sales since purchase.
  • Loyal, regular customer base.
  • Diverse product and service offerings for sewing, quilting and embroidery.
  • Robust online shop with offerings in each department. Utilized by customers nationwide!
  • Knowledgeable team members and teaching staff, passionate about creativity and quilting.
  • Only Authorized Brother Machine Dealer and Service Center in the Richmond metro area.
  • Exceptionally well-suited facility in a colonial-style shopping center.
  • Provider of longarm quilting with 2 industrial machines for a large customer base.
  • Supports Guiding Eyes for the Blind. Currently hosting it’s 4th German Shepherd puppy-in-training.
  • Chosen as one of ten shops nationwide to host the 2017 Kaffe Fassett/Brandon Mabley Book Tour. Conducted (2) 1-day workshops and critiques.
  • Workshop host to international artist, Danny Amazonas in 2019. Conducted (3) 2-day workshops with attendees from around the world.
  • Maintained customer engagement throughout the pandemic with regular Facebook Live broadcasts.
  • Kept the business operating and the team employed for the entirety of the pandemic, created masks for the community, expanded online product offerings and conducted curbside services.

Owner Function

The current owner manages the day-to-day operations of the business including the following activities:

  • Marketing and Advertising – press releases, cross marketing with other Square merchants, involvement in community and online organizations, newsletters, social media, website updates
  • Leader of the Strategy Team (ST)
  • Merchandising – assessing/calculating customer needs and purchasing appropriately (ST)
  • Displays – organizing store and merchandise in a pleasing manner (Manager)
  • Inventory – continual reconciling of POS inventory with existing inventory
  • Budgeting – utilizing OTB or other systems to stay within budget (ST)
  • Samples/Kits – coordinating kits and creating relevant store samples
  • Longarm – edge-to-edge longarming
  • Hiring – advertising, interviewing and assessing team-members for the sales floor and other positions
  • Evaluations – periodic one-on-one with team-members
  • Work Schedule – creating the monthly schedule
  • Training – coordinate and facilitate ongoing training for sales and service (Manager)
  • Brother Machine Dealership – conduct dealership according to contract and maintain relationship with district representative; Oversee Brother Service Center
  • Retail Sales
  • Yearly Events/Sales Planning
  • Class Schedule and Coordination – includes maintaining shop-teacher relationships, upkeep and production of class calendar (EC)
  • Teaching classes and workshops
  • Accounting functions (bills, deposits, payroll)
  • Vendor acquisition and management
  • Process Online Sales
  • Create in-store Signage

(ST) = Strategy Team (EC) = Education Coordinator

Business Terms

The price of Quilter’s Corner will be calculated using a multiple of earnings plus the cost of inventory at the time of purchase. An independent broker has provided a comparative market analysis and official valuation for the business.

Interested in knowing more about owning this shop?

We have two forms for you to fill out and send to Tiffany at quilters.corner.va@gmail.com .

NDA and FINANCIAL STATEMENT