How To Open An Independent Bookstore - First Steps Toward Making Your Dream Come True

You may be envisioning long, cold winter days snugly ensconced in your shop reading and discussing the latest contemporary works with other book lovers, but the reality is that you will spend your days working - at the register checking out customers, in the back office at your computer staring at your accounting program, lifting, carrying, stocking. . . retail is hard work, and you may have less time to read than ever before. You may be able to hire employees to handle some of this, but then you'll be busy training and managing them.

There's a learning curve. If you've never had to understand how to set up payroll or file business taxes or pay sales taxes or schedule a staff these things may go slowly at first.

You'll need to allow yourself time to learn the retail side of the book business. If possible, work in retail, perhaps even in one of the large chain bookstores for a spell to see if you do indeed like this work, which often includes multitasking, interacting pleasantly with customers, and being on your feet all day!

Most new businesses, including indie bookshops, take about 3 years on average to turn a profit and many new business owners do not take a salary during this critical start-up time. Before signing a lease or incurring any other contractual costs, you will need a plan which covers how to meet expenses while you are building your bookstore business.

Do you have money set aside to invest in your new venture? Can you go without a salary for a while? If you have written a well thought out business plan, you may be able to get financing to cover your initial expenses, but remember, loans must be paid back on schedule, and become another monthly financial obligation that must be met.

If you plan to open an independent bookstore that will be a success, you must realistically consider what it will cost and decide if this is the right move for you.

The big boys of book selling, like Barnes & Noble or Borders here in the US, are reasons to really know your demographics and customer base, and to realistically consider the challenges involved in starting an independent bookstore business, but shouldn't scare you away from opening your own shop if this is your dream. Many independent bookstores do very well, and there are those who own independent bookshops who wouldn't trade their way of life for anything!

Along with considering the advice of organizations like the American Booksellers Association, it can be really helpful to make use of the experiences of others who have successfully opened independent bookstores of their own - and are loving it!

My favorite source for learning about the nitty-gritty of starting an independent book selling business by someone who has gathered tons of research and compiled it all into one useful guide is Starting A Bookstore.

Remember, there are exceptions to every rule! If your dream is big enough, you can open an independent bookstore!