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
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.
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 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.
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
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.
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
Help You Need With Writing Your Business Plan that is broken down so that
anyone can do it.
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