Sue Matheis had a successful home-based business, making jackets and sweatshirts and selling them through a retailer and at shows mainly during the Christmas season. A customer asked Sue if she would make a specific patterned quilt for her and, since she had always liked quilts, she agreed to do so. Once other customers saw the quilt, she was asked to make more. Soon, the quilting business became Sues primary occupation and she decided to devote her efforts solely to it. She formed a new business, which she named Timeless Threads, and set a goal to make the business a substantial one.

However, Sue knew from her own experience that quilting by hand or with a regular sewing machine is very difficult, especially for a bed-sized quilt. To develop a significant quilting business, a long-arm quilting machine would be a must. This industrial sized machine makes quilting easier and faster, and insures that stitches go through all three layers of fabric and batting. However, these machines come at a very high price, so Sue realized that she would require financing to achieve her goal for Timeless Threads.

Sue came to Dayton SCORE to discuss her new business concept and get advice on how to obtain financing. She was given strong encouragement and instruction on how to develop a business plan. Sue immediately began working on her plan. She decided to focus her products not only on bed quilts, but also on quilted items such as wall hangings and table runners. Her marketing plan is to actively participate in the local area quilting guilds, to advertise in quilting publications, and to call on local stores that sell quilting supplies. To accommodate her long arm quilting machine Sue realized that would need to move the business from her home to a workshop, and she found a suitable location to rent in Centerville. Putting together the financial projections for her plan, however, was more of a challenge. She returned to Dayton SCORE and began working with counselor Tom Biegel. Tom helped Sue estimate future sales, expenses, and capital items. He then put the forecasts into an Excel spreadsheet and prepared cash flow and balance sheet projections.

Armed with a first rate business plan, Sue approached her bank, showed the lending officer her plan, and was told that she was "light years" ahead of most applicants. Within just a few days, the bank approved her loan request.

Sue has received her long arm quilting machine, has installed it in her Centerville workshop, and Timeless Threads is off and running. Sue states: "I am realizing my business goal, and owe much of the credit to Dayton SCORE. Thanks Tom for your invaluable help!"

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Timeless Threads

Company: Timeless Threads LLC

Location: OH

Formed: 2007

Phone: 937-