Buy a Bookstore
Whether you’re considering opening a new bookstore or looking to buy an existing store, you’ll want to take a few things into consideration before making a purchase. First, the cost of buying inventory is one of the biggest challenges to running a successful bookstore. But you also have to be ready to handle growth and change.
In order to start a bookstore, you will need to have some knowledge of how the business works. This includes having knowledge of bookselling, accounting, and selling online. Depending on the type of bookstore you want to open, you may also want to take an apprenticeship or attend a book school.
Another obstacle to opening a bookstore is finding good employees. You’ll need employees who are knowledgeable and fit the atmosphere of the store. You’ll also need people who have good personalities. You may even have to outsource some aspects of your operation. If you’re looking to purchase an existing bookstore, you’ll want to talk to the owner to find out what he or she is looking for in employees.
Should I Buy a Bookstore?
If you’re looking to buy used books, the best places to buy them are eBay and ThriftBooks. You’ll also want to check out charity sales. These events can offer hundreds of titles at discounted prices. However, you’ll need to be able to box and ship the books.
You can also buy books from a wholesaler. Wholesalers take books from publishers and sell them to independent bookstores. The discounts are similar to those given to high volume bookstores. Depending on the publisher, you can receive a discount of between 50 and 60 percent of the list price. You may want to buy in bulk, though. Buying in bulk allows you to have a larger selection of books to sell.
You can also get used books from auctions. You’ll need to be careful, however, because there’s a good chance that some of the books you purchase will be damaged. Also, you might not be able to return the books you purchase. This can be a major hassle for your store.
In addition to a bookstore, you’ll also need to make sure you’re ready to host events. These events can be a great way to promote readership and build a community around your bookstore. However, you’ll need a team of people to run the events, and they can be expensive. Also, you’ll need sound equipment and tables. Many bookstores also need full-time employees.
The best advice for aspiring booksellers is to serve the community first. It’s a mantra you’ll want to keep in mind, as it’s something you want to build around.
Ultimately, the cost of buying inventory is the biggest hurdle to running a successful bookstore. However, you can get some help from publishers, who will usually refer you to a wholesaler. They’ll also give you tips on how to make your bookstore the best it can be. It’s also important to find an affordable location for your bookstore. Typically, you’ll want to make sure your rent and utilities are around $2,000 a month.