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... EISA Survey reveals how key growth businesses needing investment now may disappear within 12 months if Government fails to act Selfie Salon wants you to join the #selfiesalon movement to #stayhomesavelives by showing your support in taking a before-and-after beauty self-grooming picture! Coronavirus. How do you survive as a business owner with minimal or no business at all? Consider the following tips... Crowdcube launches campaign and calls on the government to take action to protect Britain's entrepreneurial future... A UK-based social enterprise Lanterne, has developed, and is soon to launch, Keep Your Distance, a free app that will help us observe social distancing. Bring! is a digital grocery tool that simplifies grocery shopping for you and anyone you are shopping for. In a bid to help brands during the current pandemic, the GreenJinn grocery app makes some rapid changes to its service Coronavirus & furloughing employees. Nichola Hailes of Payfit looks to answer some of the most frequently asked questions about the job retention scheme. For startups entering the food industry, here's why accurate labelling on ready-to-eat food products is important. Whether you’re looking to create a frugal startup, or it’s already up and running, here are 4 tips to reduce costs while keeping the work environment pleasant.
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.
.png)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Industry survey indicates impact of COVID19 on growth businesses needing investment 7th Apr 2020 EISA Survey reveals how key growth businesses needing investment now may disappear within 12 months if Government fails to act
- Save Our Startups campaign launched 5th Apr 2020 Crowdcube launches campaign and calls on the government to take action to protect Britain's entrepreneurial future...
- Cerebreon the Irish deep learning startup raises £1.5m in seed funding 31st Mar 2020 The insolvency technology startup secures funding to help support the UK's most vulnerable consumers to avoid bankruptcy
- Chivas Venture divides this year's $1m Venture Fund between 26 global Startups 23rd Mar 2020 In response to the COVID-19 pandemic, Chivas Divides its $1m No-Strings Venture Fund Between 26 Startups
