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
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- Sodexo Live! And L Marks Seeking Startups and Scaleups for first ever North America Innovation Lab 5th Aug 2022 Sodexo Live! and L Marks open call for applications from innovative startups and scaleups to join their inaugural North America Innovation Lab.
- Innovative University-supported startups secure £500,000 in grant funding awards 4th Aug 2022 Startups founded by students and recent graduates from the University of Edinburgh secure SMART:SCOTLAND grants to help support their ambitious and innovative projects.
- Registrations Open for Inbound Investors 2022 2nd Aug 2022 Inbound Investors 2022 providing NI businesses with the opportunity to pitch directly to leading UK investors over the course of one day.
- Storyblok Launches New CMS Experience to Shape the Future of Digital Storytelling 1st Aug 2022 Enterprise CMS Storyblok launches Storyblok V2 in a bid to further empower teams to create and scale standout audience experiences.
