Setting up a Bookstore - What the Dickens?
by Startacus Admin
Setting up a Bookstore - What the Dickens?
As you have hopefully noticed, over recent weeks we have been writing articles discussing the ins-and-outs of setting up various businesses. So far, we have covered 
setting up: a B&B business, a photography business and a magazine business (to name just a few) and this week we are turning our attention to that most traditional of enterprises... the bookstore.
Already I can practically hear your cries of protest - “Why on earth would someone want to set up a bookstore? Don't they know that paper publishing is dying a slow and painful death at the hands of e-books?” Well, this simply isn't true - in fact, sales of paper books continue to hold steady despite the growth of the e-book. To explain why (rather fittingly) I direct you to to the words of Russell T.Davies in The Hitchhiker's Guide to the Galaxy:
“Maybe e-books are going to take over, one day, but not until those whiz kids in Silicon Valley invent a way to bend the corners, fold the spine, yellow the pages, add a coffee ring and allow a tablet to fall open at a favourite page.” Enough said!
Even so, the book market is still a hugely competitive business and it can prove an enormous challenge for independent booksellers who are coming up against the might of supermarkets, large chains and of course e-books, however with solid planning, excellent market research and a clear plan of action, a bookstore can still prove to be a lucrative and worthwhile venture. Here's a few things that you will need to consider...
Market Research
Ask yourself things like:
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What sort of bookstore do you want to open? Will you sell second-hand books, antiquarian books, new books or specialist books?
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Is there a market for this kind of bookstore in your area? Do you have any knowledge of the type of books that you will sell?
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Who will your main competitors be? What is their pricing like? How busy are they? What will your store be able to offer that theirs cannot?
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Where are you going to source your books from? If you are selling second-hand or antiquarian books will you have a reliable source or supplier?
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Do you plan to trade only from the shop or will you advertise and sell your books online? What websites will you be able to use to do this?
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Are there any other locations where you could also sell your books i.e. markets/trade fairs?
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Are there any grants or start-up business funds available where you live to support your venture
Continued on page 2... Participants in Catalyst’s Co-Founders programme offered opportunity to avail of a £10,000 proof of concept grant from Techstart to help validate their business idea. Atoa announces pre-seed funding for its solution to empower and improve cash flow for independent, small and mid-sized UK retail merchants. Pact launches its first £30M fund to back early-stage European tech startups using technology for economic inclusion, well-being and climate solutions. Paris-based startup Immortal Game uses blockchain technology to add a new dimension to the most played board game in the world. Co-Founders seeking people with innovative ideas and desire to create startups that could change the world for its 2023 programme. Marketers - want to turn shoppers into customers this Black Friday? Marietta Chatzidiakou, Senior Content Consultant at Digital Ethos shares some tips on how to do just that. Data from more than 500 companies reveals the core health of SaaS startups and assesses how European companies have performed relative to American counterparts. The lowdown on Symphony, the startup that'll give you a front row seat to enjoy the finest live performances by some of the most famous orchestras in the world... SeedLegals, the leading legal automation platform for startup funding steps into backing blockchain marketplace in carbon-neutral deal. The lowdown on Boxlist, the AI-powered social network aiming to be your new go-to place for discovering TV and film recommendations across all streaming services.
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- Catalyst and Techstart offering startup co-founders the chance to win £10k proof of concept grants 30th Nov 2022 Participants in Catalyst’s Co-Founders programme offered opportunity to avail of a £10,000 proof of concept grant from Techstart to help validate their business idea.
- UK fintech Atoa secures $2.2M pre-seed round as it kills Visa and Mastercard fees for businesses 24th Nov 2022 Atoa announces pre-seed funding for its solution to empower and improve cash flow for independent, small and mid-sized UK retail merchants.
- Female-led Pact Launches £30m Seed Fund 24th Nov 2022 Pact launches its first £30M fund to back early-stage European tech startups using technology for economic inclusion, well-being and climate solutions.
- Catalyst's Co-Founders programme opens for applications 23rd Nov 2022 Co-Founders seeking people with innovative ideas and desire to create startups that could change the world for its 2023 programme.
