Interested in small bookstore business ideas? If YES, here is how to open a bookshop with no money and no experience. How much does it cost to start up?
Are you an entrepreneur with passion for books? Do you intend turning your passion into a business that will start making money for you? Have you been considering the thought of starting a bookstore? If yes, then you are thinking the right way.
In this post, I intend showing you how you can turn your love for books into a lucrative business that will continue to make money for you for a life time. Starting a bookstore gives you the opportunity to educate yourself with the books you will be buying and still put those books for sale after consuming them.
If looking at it from a business side, it is a wise decision to make. Because you don’t only get to buy the books and read, but sell them at a higher price than you bought them. You gain knowledge from the book and also make profit from selling them too.
Won’t you like such a business idea? I bet yes!
Here are six steps that will guide you into starting a bookshop in your city or community and ensure you achieve success in the business.
It is business-wise that before venturing into any business, the entrepreneur should conduct a research on the business idea. Talk to other bookstore business owners and study the retail market in your city or community, specifically booksellers or publishers for pricing information.
Know the type of books to sell by focusing on niche books such as business, personal finance, motivational, relationship, or genres, and also decide whether you wish to sell used books or new books or both.
After conducting your research, use the information you have gather to structure and decide on how best it will be.
Having a business plan is a must for starting a bookstore cafe. A business plan is like road map that will be your guide on how you intend running your business. A business plan is a proposal stating your goals and why you think those goals are achievable.
Aside that, if you will be needing finance in starting your bookstore outfit, the possibility of investors or financial institutions granting you loan will depend on you putting together a solid business plan for them.
A good business plan must have an executive summary which is just an overview of the propose business and should be just one page. It should also highlight a solid marketing and operational plan.
Your target market should be stated and other important note like cost of operation, number of employees etc.
A suitable location is one factor that determine the success of any business. Finding a rental space is very important for running a successful bookstore. Look for a large store with plenty windows and a large space for shelving and thereby ensuring your customer can comfortably walk into your store and have a room to move around without obstruction.
Don’t focus on the building itself just make sure you locate your bookstore investment in a busy area such as business or shopping district
It is not compulsory that you must start a bookstore center with your own capital. If you really love to start a bookstore but you don’t have the capital, this is where your business plan also become useful in getting loan from investors and financial institutions.
Conclude on the capital needed to start the business and create a plan on how you intend getting the money and also have it in mind that you must invest into the business, it shows you will not default on your loan.
Create a budget that will cover each expense you will incur from salary to rent, and for purchasing the books.
After all is set and down, it is now left for you to start ordering books from suppliers or publisher or distributor and start shelving them. Be sure to include books that will be welcoming to a wide audience, if you are running a used bookstore look for deals on book collections online, contact local libraries wanting to get rid of old books and show interest to buy them.
If you don’t advertise your business nobody will know if your business exists and why they should patronize your bookshop. Take advantage of social media to spread the word about your bookstore.
You must make sure your surrounding community know about your bookstore, then consider using fliers to get college students at local campus near you interested to visit your bookstore.
It can be challenging to start a business and compete with bigger retailers but following this few steps will teach you how to start a successful bookstore.