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Original poster

Would it be ridiculous to open a bookshop?

137 replies

GoneAndDoneItAgainAgain · 07/09/2020 11:40

To be perfectly honest, I don’t need money and I’m lucky enough not to actually need to work. I’m recently divorced and have 2 school age school.

I live in a lovely tourist town with a really eclectic mix of independently owned shops. I’ve always wanted to have a bookshop. Well, I’ve always liked the idea of sitting in a bookshop and it somehow being a career.

I could afford to rent a building and that has become free with rates and based on a very rough idea of quotes I could afford to get fixtures and stock it without needing to get a loan. I wouldn’t expect to actually make a profit from it but would ideally be able to cover the cost of employing someone a few days a week so I wouldn’t be doing it on my own. The building itself is an old sail loft that used to be my dads office so I think a lot of it is an emotional tie to the building. But it would make a fucking awesome bookshop and it’s right on the harbour so in the right place too.

Would this be daft? It’s something I’ve been dreaming of for years but it just seems ridiculous to open a bookshop because I want to sit in a bookshop and sell people books rather than actually make any money.

OP posts:
OneForTheRoadThen · 07/09/2020 14:16

OP I used to run a bookshop (although for a chain) and still work in the book industry. It would be incredibly difficult to compete with Amazon as an independent you just won't command the same discounts from publishers that Amazon and the chains can.

However, you could do well if you tailored your stock to your market and sold more than books e.g stationery, gifts, coffee shop etc, all of which are higher margin.

You'd be slightly crazy to in the current climate - every month I see more and more independents closing - but it could be a very enjoyable job.

BestIsWest · 07/09/2020 14:21

Maybe a combination of second hand and new - Look at Hay on Wye or Wigtown for ideas maybe.

LunaNorth · 07/09/2020 14:21

I’ve had two. Don’t do it if you want to get rich.

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Books
OneForTheRoadThen · 07/09/2020 14:22

Meant to add most of the more successful independents I see have really good events programmes and they are coming to depend on them more and more. You'd need to work quite hard to get and promote events and it could mean a lot of work after business hours. Feel free to PM if you want any info Smile

Bloodybridget · 07/09/2020 14:22

@GoneAndDoneItAgainAgain I love your idea, but maybe you could get some experience of the book trade beforehand? Would your friend let you spend a few months in her shop? I think you'd get off to a better start if you had some knowledge of ordering systems, who the good wholesalers are, negotiating discounts, effective displays, discouraging theft, etc. I was a bookseller for a long time, you learn on the job, but preferably not at your own expense!

DistinguishedCarrot · 07/09/2020 14:29

Books bought from publishers are often on a sale or return basis, i.e. if you return them you get a full refund.

The bookshops that I know (smallish chain of 3 or 4 shops) buys books at 44% of RRP, so that's the margin you have to play with in terms of price point.

Amazon and supermarkets obviously sell them at a cheaper price because they have reduced overheads and can make more money on a smaller margin because of the volume of products they sell. (I bought a book in Asda the other day - £16.99 RRP, £11.73 on Amazon, £9 in Asda, but still a profit of £1.52 per book, assuming they get the same 44% cost).

Depending on your market you may or may not have to reduce the price compared to the RRP. A upmarket area with lots of well off residents or visitors will pay RRP almost without batting an eyelid.

I like the idea of a link up with a local coffee shop, or just making it clear that people are welcome to bring in their coffee for a browse. If there's space you could have a few squishy sofas and coffee tables.

It you want decent book shop ogling, have a virtual wander around Daunt Books in Marylebone here Google Streetview. Perhaps one of the most beautiful book shops in the world!

Beware the length of the lease of the shop though. As a unestablished business, the landlord would probably require a personal guarantee on the lease, making you personally liable for any rent payments if you should end up closing the shop down.

(I agree with the health and safety nightmare comment re the ladders though - sorry - they should be for suitably ladder trained staff only!)

Original poster
GoneAndDoneItAgainAgain · 07/09/2020 14:31

Thanks onefortheroad.

I would like to stock secondhand books but don’t know much about them tbh, another thing to try and learn about.

bloodybridget that’s a really good idea, thanks. I’m sure she’d be happy for me to work there for a bit so it could work out well for both of us.

OP posts:
DistinguishedCarrot · 07/09/2020 14:32

Hmmm - my link doesn't work. Let's try this one - goo.gl/maps/FnePuuU1atAS1oKm8 and if it doesn't work I'm sure you can find it on google!

Original poster
GoneAndDoneItAgainAgain · 07/09/2020 14:34

distinguishedcarrit I love Daunt Books, it’s bloody beautiful in there.

The lease is for 18months but I haven’t looked into guarantees etc yet. I have enough to be able to pay for the initial 18 months, rates, fittings and an estimate of stock so not too much of an issue initially.

OP posts:
CountFosco · 07/09/2020 14:39

@Ffsseriously

I would say though amazon aren't as cheap for books as they were, so i think now might be a perfect time.
I'm so pissed off at Amazon for raising their prices during lockdown that I now download samples to my kindle, and if I like them I order the book from another bookshop. Blackwells are doing very well out of me at the moment!
CountFosco · 07/09/2020 14:40

Ha! And just as I wrote that I got a message from my local bookshop that a book has arrived for me Smile

ChickensMightFly · 07/09/2020 14:48

Wish there was a book shop near me which opened in the evenings for a book club get togethers. Would love that.
No idea if your dream would be a dream in reality, sorry, not very helpful. Smile

ChickensMightFly · 07/09/2020 14:49

If I have to order online, I use Hive as you nominate a local independent to receive a little 'commission' from the sale even though the price isn't higher - great idea.

BabyLlamaZen · 07/09/2020 14:53

If you have all the money in the world, yes! But as others have said, I'd get professional advice.

Could it start as a library? The times are odd with covid it would take a good while to set up anyway.

FilledSoda · 07/09/2020 15:15

There is someone so cozy and appealing about this idea , especially coming into the autumn for some reason.
It sounds as though you could afford the risk and if it isn't all you hoped for your only committed for the length of the lease .
I'd go for it op , life is short .

HollowTalk · 07/09/2020 15:53

Perhaps look up the company accounts for an independent bookshop you like?

LunaNorth · 07/09/2020 16:06

@FilledSoda

There is someone so cozy and appealing about this idea , especially coming into the autumn for some reason. It sounds as though you could afford the risk and if it isn't all you hoped for your only committed for the length of the lease . I'd go for it op , life is short .
It’s a lovely idea, but it can be very boring and disheartening on quiet days.

And I speak as someone who loves and adores books. You can have too much of a good thing - even sitting around reading all day.

AdoptedBumpkin · 07/09/2020 16:10

Go for it, if it's what you really want, and isn't going to cause financial crisis.

IdblowJonSnow · 07/09/2020 16:12

There is a local bookshop near me that does a fairly good trade. They also have a cafe (in non covid times) and do kids parties.
Go for it!

diplodocusinermine · 07/09/2020 16:22

This is fairly local to me - it's a lovely shop - they have an excellent children's section but I think the owner used to be a children's book editor. They also have a small cafe, sell cards and bits and pieces and have a small deli and homewares shop too, selling lovely French soap and beautiful wrapping paper and all sorts of bits and pieces.

They also do author events and book groups and are involved with local book festival.

www.mainstreetbooks.co.uk/

movingonup20 · 07/09/2020 16:30

I would love this - my dream is a second hand books with gift type bits, a cafe and in the evening it turns into a small venue for small folk/singer songwriter type acts. Anyone fancy it????

Fishfingersandwichplease · 07/09/2020 16:36

I love a book shop and would definitely visit you if l saw it! Think this is something you would regret if you don't give it a go!

ThunderSkies · 07/09/2020 16:38

Don’t cinemas make a good chunk of money on the food and drink? Most shops like this are quite niche in what they sell, and all have a coffe/ tea/ scone and brownie trade IME.

AmelieTaylor · 07/09/2020 18:04

Ok, so the lease is only 18 months, which is both good & bad news. Good in that you know you can quit after 18 months if you want, bad in that you could put a lot of money & effort into it and have no long term
lease!

I don't know about commercial leases in England, but I'd look at what I could get written into it to protect me, possibly only money spent on converting it to a decent retail space. (Honestly NO idea on that bit)

So, if you added up everything you'd need to spend in the 18 months, if you didn't sell a single thing, how would that money spent impact you?

Would it feel 'worth it' to have had the experience/fulfilled a dream?

Whatthebloodyell · 07/09/2020 18:17

Just another off piste idea, what about setting up a community library instead?

www.gov.uk/government/get-involved/take-part/create-a-community-library