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... Wilton London exceeds crowdfunding target to support its aim of becoming the UK’s number one eco household cleaning brand TestGorilla is a startup that's on a mission to help you identify the best candidates and make your hiring decisions faster, easier, and bias-free Major investment for her1, the digital health impact company that's dedicated entirely to female wellbeing... Major boost for the NI economy as nanotechnology consortium, Smart Nano NI awarded £42.4m by the Strength in Places Fund to support development of new technology for medical devices, communication and data storage.
As the pandemic may still have an impact on your business in the long term - here are a few things to consider... Need an organised process to manage the inventory in your startup? Here are a few of the key things to consider... Ntropy secures major investment to help with expansion of its team, support market growth and future product development.
Want to make your mark on your industry and elevate your business exposure? These tips will help you do just that... SKOOT, the only carbon negative green navigation app for drivers launches crowdfunding campaign to help drive its growth and offset vehicle carbon as lockdown eases
Need to make changes in your business? Karen Dunne-Squire, founder of Elation Experts shares tips and advice on how best to do just that
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.
.jpeg)
.jpg)
.jpeg)
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Smart Nano NI awarded £42.4m funding from UKRI 22nd Jul 2021 Major boost for the NI economy as nanotechnology consortium, Smart Nano NI awarded £42.4m by the Strength in Places Fund to support development of new technology for medical devices, communication and data storage.
- Ntropy Raises $3.2M for its innovative data platform 20th Jul 2021 Ntropy secures major investment to help with expansion of its team, support market growth and future product development.
- SKOOT plans to accelerate growth with new crowdfunding campaign 20th Jul 2021 SKOOT, the only carbon negative green navigation app for drivers launches crowdfunding campaign to help drive its growth and offset vehicle carbon as lockdown eases
- Collective Benefits raises £6m to help expand the safety net for independent workers 14th Jul 2021 Innovative insurtech Collective Benefits raises investment to support expansion plans and development of new products and services for independent workers
