Exciting Venture..

[MINE!!]

Or maybe I should say.. I am about to get ready to embark on an exciting.... risk. I am going to open a used bookstore. Can you beleive that we do not have one here in a college town at ALL. I am going to start getting the business plan together and checking things out. I am soooo excited.. yet sooo nervous as well. I will never make a million books, but I WILL be able to spend my life around a room full of the aroma of old books.. I am so excited.... any advice?

 

[researcher]

Congrats!!! I too love books, and think you''re going to have a blast opening your own store. Just make sure you''re aware of all the financials, and the types of books students are most interested in buying used. Have you spoken with bookstore owners in other college towns?

I also wonder if you can get some "starter" books from a public library book sale. In my neighborhood the library has an annual book sale where you can buy a bag of books for a buck, and textbooks are $5. It''s great as many UCSD and SDSU students donate their books.

No matter what, enjoy yourself! It sounds like a ton of fun!!!

 

[Sundial]

Oh Mine how absolutely exciting for you!!! I am always impressed with those who are willing to take on the risk of running their own business. One of the first things they teach you in business school is "to find a need and fill it" and it sounds like that is what you are doing. As a former banker who made loans to business owners, just remember that as much as you may love what you are doing it is still a business and needs to be run like one. Good luck to you!

 

[MINE!!]

Thanks everyone. I have looked into Library sales and I am also contacting a few retiring profs. to see if they will sell me parts of their collections. I know I have alot of research to do beforehand... But I feel absolutley GIDDY!!

 

[flopkins]

ooooh it''s my dream to one day own a bookstore!!! best of luck!!

 

[LadyluvsLuxury]

Oh MINE I am so happy for you! I wish you much success in your new endeavor, it will definitely be a great and rewarding adventure!

 

[MelissaSue]

congrats MiNE!! Sounds like it will make you so happy. My daddy dreams of having his own business too. I know how big of an accomplishment it is!

I don''t think you are anywhere near my area, but around here a bunch of libraries are closing (county budget is in BIG TROUBLE!) and selling off their books cheap!! i can find out more for you if you want

 

[Tacori E-ring]

I started my own business almost three years ago. It is tough because there is more risks, hard to take vacations, pressure, but the benifits are huge. You make your own hours, get more money than if you worked for someone else, and are building a legacy of sorts. My business is much lower risk than yours but there supposed to be governmen loans and grants for minority businesses (that''s you!). Plus if your town doesn''t already have a bookstore you are filling a need which should help you get loans. Marketing is key, a solid business plan and and ideal location will get you far. Good luck! If you need any advice just PM me. It is actually pretty easy starting a business (registering names, Tax ID numbers...). I just suggest hiring as little help as you can get buy with and having a good CPA.

 

[movie zombie]

its a good kind of ''giddy'', Mine!

peace, movie zombie

 

[Garry H (Cut Nut)]

I had 1 more of several calls today from a late 20''s year old, who, when i employed him I knew would open his own business as soon as he could.

He has run his own subcontracting business after leaving me. He finished his apprenticeship with us for 3 years. he was restless and questioned everything he was asked to do. He rebelled at our beucracy.
Today he said, after asking about why the insurance company would not cover his labour as a cost of goods, that he now understood why he had to record the time taken on each and every job, so we could properly cost the jobs and sell them from one entity to another.

He is discovering that running a business is not just a matter of love and passion (which he oozes). to be successful you must also overcome the "technician" within.

Get and read this. if you can not do it then dont do it. http://www.amazon.com/exec/obidos/tg/detail/-/0887307280/ref=pd_sim_b_1/104-8499796-7324758?%5Fencoding=UTF8&v=glance
It is readily available in all book shops on Earth.

 

[Angel7]

I have no advice but I think that''s great! I wish you lots of luck and think it''s so exciting to be starting something new like that. I''ve always loved book stores.

Congrats and best of luck!

 

[Rube]

I love love love used book stores. Best of luck!!!

ETA: I can't believe a college town doesn't already have one!

 

[fire&ice]

I know someone who has a used bookstore in an airport - does well. That said, text books could only be part of your business. I buy a good deal of the books I read at yard sales & second hand shops. I buy art books & architecture books at used/rare bookstores. They get a lot of my money.

Their sources to buy are yard sales, auctions, church sales, school sales, Library sales, etc. If you buy right, your inventory can cost very little & your profit quite good. I think you should start a thread - who is your favorite author - to get an idea of who sells. Here are some of the authors I look for - Grisham, R.N. Patterson, James Patterson, J. & F. Kellerman, S. Baldaci, J.K. Rowling, etc.

Good luck.

 

[MINE!!]

WOW Eveyone... thanks so much for the input!!

Ladyluvsluxury~ Thanks.. I am so excited

MelissaSue~ I would love to get morw information of Library sales!! That would be awesome!! Thank you!!

Tacori~ Thanks so much!!! I am probably going to Pm you soon!

MZ~Thanks

Garry H (Cut Nut)~ Thanks for the advice.. I read the first pages online and I am planning to go over to B&N this afternoon and pick it up! Thanks for the info!!

Thanks Angel

Rube~ Thanks! I know, I think that it is crazy that there is not one here! My hubby has a fetish for college campuses.. we visit MANY of them.. and we ALWAYS frequent the used bookstores.. but there is not one here in this town... It is CRAZY!

Fire~ Thanks and that is a great idea as well! I will start a thread sometime this afternoon. I am going to try to stay away from used textbooks because we have 3 of those places in this town. However, we have no one that sells used reading books, acedemic books, rare or hard to find books.


Thanks Flopkins

Sundial~ Thanks for the advice! I am going to meet someone next week about starting a hard core business plan!


I started a business about 5 years ago. YOu probably have one of these in your area. I starting a monthly parenting publication for our area. We had a monthly distribution of about 9000 (keep in mind... our pop. here is only about 40000) (sans students) It ran very well for quite a while and I was always in the positive. I was bought out by the local newspaper in the end (but they do not do as good a job IMO!) I think that I just get the thrill of knowing that it can be done.. and that if I want to do it that much.. I will get it done in the most finacially and benefical way. I am so excited!

 

[mepearl53]

Lots of good advice. Have you thought about specialization? A bricks and clicks approach? I have quite a extensive collection of rare books on gems and jewelry dating to the 17th century. I used to buy them off mailing lists but now do it over the internet. As a business owner I do not have time to go out hunting for them and that is the beauty of the internet. I have also found over the 8 years I''ve been on the net it is best to find a special area and grow it. Businesses mutate so be ready to jump in where there is little representation.

 

[fire&ice]

Rare books are a nut of it''s own w/ very specialized knowledge. I guess what I am saying is that it''s not something you can start immediately.

That said, I buy a few used paperbacks - but I mostly look for the hardbacks. I pay anywhere between a dollar to $10.00 (for one I really want). The average I pay for hardback is about 5-6 dollars. I only buy for enjoyment. I don''t go after 1st eds, etc.

I don''t know if they are still in demand; but, decorators were buying up old musty books as decorative items for shelves.

If you start a thread include what used books people buy other than fav. authors. As Bill stated, he buys gem/jewelry books. I buy any books of interest to me regarding dog training, my genre of art, antiques, pottery & old jewelry, architecture for my husband. We also buy used CD''s, DVD''s & videos.