Dreaming of owning a small business is often the only step that many people take toward becoming an independent bookseller. When you get past that stage, the real work begins. Independent book sales is not a business that will make you wealthy; you usually make four cents on the dollar for each book sold--and that's before the bills are paid. Nevertheless, if you are still yearning to open your own store, then read on.
Instructions
1. Research all of the possibilities available to you. Your local Small Business Administration (SBA) has great resources to help you do your homework. They offer guides, and even experts in the business who are eager to help. Consult the American Bookseller's Association (ABA) as well. It is a group comprised of independent booksellers. Spend time in bookstores large and small to gather some ideas.
2. Pick a location and a niche. Several booksellers will tell you that to survive, you must have a great location--optimally one with heavy foot traffic--and a gimmick, something that makes your store stand out from the others in the area. You can choose to be a children's bookseller or concentrate on used and rare books. Textbooks are a great seller in college towns, while comic books may appeal to a commercial area thriving on skateboarders and D&D fans. Study your market to see what kind of people you have in the areas that you would like to open up shop.
3. Create a business plan. Go back to the SBA for this. A business plan helps you to organize your business and provides a great way to draw investors. Banks, venture capitalists, neighbors and friends will be more receptive of your ideas if they are arranged in a business plan. The process of creating the plan also forces you to think about and answer the hard questions that many small business owners neglect.
4. Secure funding. There are several avenues to take in obtaining funding. You can use your own money or borrow in the form of a small business loan. Venture capitalists will sometimes invest in start-up businesses. You can also turn to family and friends. Whatever way you decide to fund your bookstore, be sure to secure enough money to cover operations for at least the first year.
5. Fill your store. Decide on a layout and decor that fit your store's theme. The ABA has a Bookseller's Resource Directory that you can use to find book vendors. You can also ask other local sellers for their contacts. If you plan to have a coffee bar, make sure that it is thoroughly stocked before the store opens. Once you are ready, open the doors and invite the community in to experience your bookstore.
