Something Crazy...

JFitchett92 · Jun 2, 2014

If this is in the wrong area, could someone please move it. Thanks.

Hey guys,

So I've had this totally crazy idea for the last few months. I want to open an independent bookstore. I know, insane right? In this economy? Come on. But regardless of this, I decided to do a little bit of research and it seems that there are still openings in the online market. I have plenty of places locally where I can get stock at a low price and I intend to resell the books at the lowest price possible, but I'm having difficulty finding out exactly what stock to sell.

I mean there's the obvious market for books that are out of print, and for first editions, but how else is one supposed to determine whether a book which is so many years old will sell? I know there are the obvious risks when buying a bulk amount of books, but I'm just trying to find a way to reduce this risk as much as possible.

Having looked online, there doesn't appear to be any connection between the books sellers are selling and their popularity. Nothing seems to jump out at me, no first editions, no out-of-prints etc. Just random books. Of course it's entirely possible that these random books sell on their own. After all, how many of you have bought a book on a whim just by reading the back cover?

Just wondering what everyone else's thoughts are on my idea? If someone has done this before, some insight would be great! Many thanks guys.

Maryn · Jun 2, 2014

I've never done this, but I know very slightly a man who makes some extra money doing this.

I see this guy at the nearby library's in-house book store, where they sell the better donations they don't want for their collection. One volunteer told me he comes in several times a week and buys what he thinks he can resell, five or ten books each time. I also see him at thrift stores, especially those in the middle- and upper-middle-class suburbs, where there appear to be many more readers.

I presume he's got an eye for what has potential. He clearly passes up last month's or last year's hot book, of which there are many copies, but he does buy popular fiction.

Is there a way you might identify sellers like this man at ebay or other online stores? I would think if you found a small number and watched what they offer and how quickly it sells over a period of several months, you might learn plenty.

Maryn, whose friend opened an independent book store and lost his wad on it

Kylabelle · Jun 2, 2014

Since everything else is on the internet, perhaps this is also: I immediately wonder if there is some kind of professional association of used booksellers, or the like, some place where people share their woes and successes and the like....

I dunno, maybe it's too competitive for that kind of thing to be viable but it might be out there, somewhere, on the wild wild web....

ap123 · Jun 2, 2014

One thing I would look into would be a very specific market. Not so small there're only 10 people who'd shop there, but definitely niche.

There was a great bookstore in my neighborhood that specialized in suspense/thrillers/mysteries. Big following, lots of mourning when it closed. I live in an area where commercial rents (actually, all rent) skyrocketed, and almost all of the small business owners have been driven out. That said, if you live in an area with more reasonable retail spaces, I could see this working.

thedark · Jun 2, 2014

I've worked in two, helped a friend start a third. The owner of the second one offered to sell it to me, and I almost did... I'm fairly well versed in the market and can walk you through how to make it successful, and what makes bookstores die a sad death.

But that's more than I can type on an iPad. If you are serious about this and want to chat, send me a PM and I'll share my phone number.

It's a beautiful thing, owning a bookstore. My friend (the third bookstore) nets between 4-8k a month, but she earns it, and most of that is online sales (like 2/3rds). It wasn't easy to set up, but... Totally worth it.

JFitchett92 · Jun 3, 2014

ap123 said:
One thing I would look into would be a very specific market. Not so small there're only 10 people who'd shop there, but definitely niche.

Well the original intention was to just focus on second-hand novels, with the store having a strong focus on community and public book recommendations visible for all to see. A place where someone can come in with an open-mind and a pocket full of change and leave with a bag full of great stories. There are a handful of bookshops local to me that specialise in military and historical books, so there is a little hole in the market for me over here.

thedark said:
It's a beautiful thing, owning a bookstore. My friend (the third bookstore) nets between 4-8k a month, but she earns it, and most of that is online sales (like 2/3rds). It wasn't easy to set up, but... Totally worth it.

What your friend is doing is what I like to see myself doing in 5-10 years time. With places like eBay and Amazon, online sales are definitely the way to go. My plan is to start as an online store, and then get the premises when I get more customers and I've enough money to self-sustain. Of course, this is years away.

I'd love to hear your advice, but the phone isn't too great for me. I'm out and about a lot of the time. If you could email me sometime, that would be great!

Thanks for the replies guys

Something Crazy...

JFitchett92

Maryn

Baaa!

Kylabelle

unaccounted for

ap123

Twitching

thedark

Weaving through the night.

JFitchett92