Considerations for a Used Bookstore

Some Background. Not only have I visited hundreds of used bookstores in many different countries but I had the pleasure of owning my own used bookshop for four years. I've since moved on to running a few high profile websites. There is no better way to understand the requirements of a successful shop than by sitting behind the counter for a couple of years.

If you are considering opening your own shop you need to think carefully about a couple of subjects that are rather hard to change once you've made the original commitment. Location, Shelving and Opening Hours are the three items I'll touch on today and I might add that these ideas cross most small retail outlets, not just bookshops.

As I know you've heard a hundred plus times, location is critical. The problem is that many used bookshops begin their lives with very low start-up capital. They also tend to look at ways to keep there operating cost minimal instead of looking at the big picture - revenue and cash flow. The idea of paying half as much in rent from leasing a nice little spot that is 'just around the corner' from the main foot traffic area is very appealing. But the lack of foot traffic means that your cash flow will take a big hit. By leasing a spot right on the corner of Main and Central you may be paying three times as much in rent but your cash flow will likely rise three and a half times. It's that half that keeps your business alive and gives you cash flow to expand your stock and give you a salary. In the less busy areas each sale will go to cover expenses and things will quickly get tough. Take it from me, wait fro that perfect spot, you won't regret it.

Shelving, another big decision that will impact the ambiance of your shop a great deal. Many used bookshop owners also think they are master carpenters. I've been in many shops that have home made shelving with unstained, unfinished wood. It's akin to having an unfinished basement; great if your brother is spending the night but if you really want to impress somebody you'll want it finished up nicely. I'll make a quick recommendation that is actually more cost effective than building your own, surprisingly durable and very attractive. The Ikeas Billy system. I used these in my shop and after four years they still looked like new. We have tons of positive feedback, they were quite easy to install and did not cost too much. Give them some consideration.

Lastly is the topic of bookstore opening hours. I've talked about that here before (see preceding link). The idea is that you do not want to give the impression of being a twenty four hour convenience store. You want to have people think that you are a specialty shop, like an exclusive jeweler. Once patrons get this impression it will be much easier to sell your items at an elevated price. It is much easier to sell one thirty dollar history book than it is to sell twelve pocket books. Go for the limited hours, perhaps think of closing Mondays and Tuesdays and only open from lunch time to six or seven. You're sales will not suffer and your family will be much happier having you around more often.

I hope these tips help you with some of your big decisions. Best of Luck.