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:
-
What sort of bookstore do you want to open? Will you sell second-hand books, antiquarian books, new books or specialist books?
-
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?
-
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?
-
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?
-
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?
-
Are there any other locations where you could also sell your books i.e. markets/trade fairs?
-
Are there any grants or start-up business funds available where you live to support your venture
Continued on page 2... Startups focused on Connected Digital Mobility, including connected vehicles, autonomous travel, smart cities, future transport services, take note! The online marketplace where you can buy goods directly from independent retailers all in one place. With the aim of reaching 1 million classrooms and kitchen tables by 2021, EdTech startup Makematic have raised £1m to help brands connect with education through bitesize content. AI: Artificial Intelligence, currently the buzzwords about town betwixt the tech-savvy among us. So will robots become part of the family as our pets have? The startup that has created a biologically active food expiry label to help combat food waste... The startup that is "saving and improving human lives with artificial intelligence analytics for healthcare". KeepAppy, is a personal wellness app, designed to empower users to take control of their mental and physical wellbeing, and enable people to track all of the vitals that most impact an individual’s wellbeing. When employer and employee relationships breakdown. From managing a grievance process, to disciplinary processes, managing performance and protecting your business. Norwich based early stage startups and entrepreneurs take note - here's the lowdown on key startup support and help available where you live. Many startups fail before they have a chance to fully establish themselves. Here are seven mistakes those startups are likely to make and importantly, how to avoid them.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- IlluminationLAB to power energy focused startup innovation 5th Mar 2019 American Electric Power (AEP) has launched IlluminationLAB which will include a bootcamp, energy summit & 10-week proof of concept program to co-create innovative energy products and services.
- Startup World cup returns to Belfast for 2019 27th Feb 2019 The Startup World cup returns to Belfast for 2019 with the NI regionals held on 25 March and once again delivered by Belfast Global Shapers.
- Rolls Royce seek data driven tech solutions 27th Feb 2019 Business intelligence, AI and machine learning focused tech startups, take note! Rolls Royce are currently seeking a data driven tech proof-of-concept solution.
- Travel startup NAVA wins Travel Technology Europe Disrupt Award 2019 22nd Feb 2019 London-based disruptive tourism and travel startup NAVA, has been named the winner of the 2019 Travel Technology Europe Disrupt Award.
