Tag: Business Plan

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So You’re Thinking Of Opening A Bookstore. #1

Today was it, final straw.  There was no way I could keep working at my current job.  After working 60-70 hours per week and working 6-7 hours a night in my dreams, it was time.  I was ready to be my own boss and live my dream of opening a bookstore.

Start with research!

Before you do anything go to the experts!

Join the American Booksellers Association as a provisional member so you can get vital information about opening a bookstore.  This is a mandatory investment for success.  Sure, you can google “how to open a bookstore” but I have yet to see all the vital info in one article.  The next 4 blog posts will take you through a very concise process that will give you a fighting chance to succeed.  You may even find out you aren’t quite ready for this project!

I actually looked for retail spaces and drove around to see what locations were available for my store.  Start to envision what your bookstore will be like.  Is there a niche you want to represent?  Children’s books, science fiction, romance books or just used books are some great ideas to explore.

Opening a bookstore - follow your heart book.

Buy a notebook and start writing down all the ideas for the bookstore.  Pay close attention to local news stories and local events.  Go to Pinterest and see what ideas you can get to complete your vision!  Look for Indie Bookstore groups on Facebook.

I actually got a little ahead of myself and bought some stuff BEFORE I did all my homework.  Don’t do what I did!  Follow along as I go through all the steps of preparing to open an Independent Bookstore. Step 2 will get you started.

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Are You Ready To Sell Books? #4

You have done the work and completed the analysis, are you ready to sell books?  Hopefully, you have decided to move ahead with your dream of an Indie Bookstore.  There are several innovative ideas on how to raise capital in the Paz material and on the ABA site.  Try them all!  Here is where that business plan software comes in handy! After you find your ideal location and ideal size store, you will need to work on design, fixtures, point of sale and inventory.  Additionally, you will need to decide on the bookstore name, what type of company you will be (e.g. Corporation, LLC, C-Corp, etc) and purchase an appropriate URL for your website.   Incfile.com is a reliable online service to help with this. There are several online tools to help you create a logo and order marketing materials.  I used Tailor Brands for the logo below, it is pretty simple, but the sky is the limit with their tools.  
Bookstore Logo
My logo.
  Again, I recommend you figure out how to attend the Paz and Associates workshop retreat so you can get some hands-on training and industry networking. Hopefully, you have determined the specific flavor of your store.  What niche are you going to fill in your neighborhood?  Will you operate a bookstore with a cafe?  Will you have new books and used books?  What kind of gifts will you carry?  Do you have resources to help you cultivate your inventory to match your vision?  These tasks are very important and critical to your success.  Join your regional Independent Bookseller Association and see what resources they can offer.  Find a mentor who can lead you through the process. If you have not done it already, get involved with your community.  Find the local chamber of commerce or business association and start networking. Keep up on the local news/events and start writing down ways to become involved.  This will be very helpful on your road to success.