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Book Store Business Plan


Book Store Business

If you have a love of learning and literature, you may have always dreamed of opening your own book store business.  Owning your own book store business is an excellent way to turn your passion into your livelihood and share your love of great books with the public.

It is true that mass market book stores like Borders and Barnes & Noble have made the book store business harder to enter.  Books have become more and more of a commodity, and it is often hard for an independent book store to compete on price alone.  However, there will always be a place for the small, eclectic book store business. 

Setting Your Book Store Apart

Doing your research and planning ahead can mean the difference between success and failure in the book store business.

When planning to open your own book store business, try to find a niche market that is not served by the big chain book stores.  If you have an interest in a specific genre of literature, you may want to tailor your book store business to that market niche. 

For instance, if you are a mystery fiction buff, you may want to open a book store business that specializes in all kinds of mystery fiction.  Perhaps you can sponsor special events at your book store business. 

A murder mystery weekend may be the perfect way to get the word out about your new book store business.  Setting your book store apart from the cookie cutter chain book store down the road can help make your book store business thrive even in a competitive, price driven market.

Special events are also a good way to drive customers to your book store business.  Book signings with popular authors are always a big draw.  Competition is often fierce for the hottest authors, however. 

You will have to be persistent to land that big draw for your book store business.  If there is a hot local author in your area, you may want to invite him or her to your book store for an afternoon of readings and book signings.

Location Is Important

Location is important for your book store business as well.  In some ways, the perfect book store will be determined by your location.  If you live in or near a major city, you may want to locate your book store business downtown on one of the trendy shopping streets. 

If you live in a university town, you may want to locate your book store business close enough to the university to be convenient to the student population.  Be sure to find the right location for your book store business.  You will want your book store to be convenient and easy to get to, with plenty of parking nearby.

Financing Your Book Store

Financing is another important consideration for your new book store business.  You will want to make sure you have enough cash to cover your startup costs.  You will need enough money to purchase your initial inventory, furnish your book store and pay your employees. 

You may want to apply for a small business loan or grant to get your book store business off the ground.  Make sure you overestimate the amount of cash you will need to start your book store business. 

Unexpected costs almost always arise when starting a new business.  It is much better to have too much cash on hand than to run out of cash before your book store business comes profitable.

Finding The Right Employees

You will also want to staff your book store business with friendly, knowledgeable employees.  The book store business is driven by customer service.  You will want your employees to be both helpful and friendly. 

It is a good idea to have employees who know a lot about the books you sell and willing to help your customers find the right books.  Having employees who can make informed recommendations to your customer base can set your book store business apart from the rest.

Creating A Detailed Business Plan

Creating a business plan will ultimately help your business with the direction you plan on taking it to.

It is vital to start planning your book store business by creating a detailed business plan.  Take some time, sit down and write up a business plan. 

Having such a plan is essential to tax planning, business startup and obtaining financial backing for your new business.

How To Write A Business Plan… Made Easy

Planning… Planning will help you to keep everything in proper perspective, because without a step by step business plan, there is no way you can keep your business running successfully.

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