Note 2 - Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Note 2 - Significant Accounting Policies (Tables) [Line Items]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

BASIC	2014		2013		2012
Net income	$	7,706,921	$	7,265,717	$	5,596,070
Weighted average common shares outstanding		10,203,063		10,176,492		10,157,395
Earnings per share – basic	$	0.76	$	0.71	$	0.55
DILUTED
Net income	$	7,706,921	$	7,265,717	$	5,596,070
Weighted average common shares outstanding		10,203,063		10,176,492		10,157,395
Effect of restricted stock awards and assumed exercise of stock options		38,058		39,946		17,951
Weighted average common shares outstanding, assuming dilution		10,241,121		10,216,438		10,175,346
Earnings per share - diluted	$	0.75	$	0.71	$	0.55
Outstanding options and restricted stock awards excluded as anti-dilutive		-		-		-

Schedule of Goodwill [Table Text Block]

	Leather Factory			Tandy Leather		Total
Balance, December 31, 2012	$	607,319		$	383,406	$	990,725
Acquisitions and adjustments		-			-		-
Foreign exchange gain/loss		(8,740	)		-		(8,740	)
Impairments		-			-		-
Balance, December 31, 2013	$	598,579		$	383,406	$	981,985
Acquisitions and adjustments		-			-		-
Foreign exchange gain/loss		(10,199	)		-		(10,199	)
Impairments		-			-		-
Balance, December 31, 2014	$	588,380		$	383,406	$	971,786

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	As of December 31, 2014
	Gross		Accumulated Amortization		Net
Trademarks, Copyrights	$	544,369	$	518,426	$	25,943
Non-Compete Agreements		178,882		146,799		32,083
	$	723,251	$	665,225	$	58,026

	As of December 31, 2013
	Gross		Accumulated Amortization		Net
Trademarks, Copyrights	$	544,369	$	487,891	$	56,478
Non-Compete Agreements		181,216		134,466		46,750
	$	725,585	$	622,357	$	103,228

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

	Leather Factory		Tandy Leather		Total
2015	$	108	$	40,302	$	40,410
2016		108		5,667		5,775
2017		90		1,000		1,090
2018		-		750		750
2019		-		-		-

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Weighted Average Exercise Price		# of shares			Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding, January 1, 2012	$	4.40		115,600
Granted		5.27		12,000
Cancelled		-		-
Exercised		3.50		(6,000	)
Outstanding, December 31, 2012	$	4.53		121,600			4.83	$	206,760
Exercisable, December 31, 2012	$	4.53		121,600			4.83	$	206,760
Outstanding, January 1, 2013	$	4.53		121,600
Granted		6.87		12,000
Cancelled		-		-
Exercised		4.23		(49,000	)
Outstanding, December 31, 2013	$	5.04		84,600			7.22	$	104,656
Exercisable, December 31, 2013	$	5.04		84,600			7.22	$	104,656
Outstanding, January 1, 2014	$	5.04		84,600
Granted		-		-
Cancelled		-		-
Exercised		4.32		(12,200	)
Outstanding, December 31, 2014	$	5.16		72,400			6.17	$	89,840
Exercisable, December 31, 2014	$	5.16		72,400			6.17	$	89,840

Schedule of Share-based Compensation, Activity [Table Text Block]

	2014					2013					2012
				Weighted					Weighted					Weighted
				Average					Average					Average
	Option			Exercise		Option			Exercise		Option			Exercise
	Shares			Price		Shares			Price		Shares			Price
Outstanding at January 1		84,600		$	5.04		121,600		$	4.53		115,600		$	4.40
Granted		-			-		12,000			6.87		12,000			5.27
Forfeited or expired		-			-		-			-		-			-
Exchanged		-			-		-			-		-			-
Exercised		(12,200	)		4.32		(49,000	)		4.23		(6,000	)		3.50
Outstanding at December 31		72,400		$	5.16		84,600		$	5.04		121,600		$	4.53
Exercisable at end of year		72,400		$	5.16		84,600		$	5.04		121,600		$	4.53
Weighted-average fair value of options granted during year		n/a				$	0.97				$	0.83

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2014	2013			2012
Volatility	n/a		19.1	%		21.4	%
Expected option life	n/a		3			3
Interest rate (risk free)	n/a		0.80	%		0.875	%
Dividends	n/a		None			None

Schedule of Unvested Restricted Stock Units Roll Forward [Table Text Block]

	Shares		Grant Fair Value
Balance, January 1, 2014		-		-
Granted		34,601	$	8.96
Forfeited		-		-
Vested		-		-
Balance, December 31, 2014		34,601	$	8.96

Employee Stock Option [Member]

Note 2 - Significant Accounting Policies (Tables) [Line Items]

Schedule of Share-based Compensation, Activity [Table Text Block]

	2014		2013		2012
Weighted average grant-date fair value of stock options granted		n/a	$	0.97	$	0.83
Total fair value of stock options vested		n/a	$	11,686	$	10,000
Total intrinsic value of stock options exercised	$	14,816	$	113,790	$	9,572