Do you own/ run a bookshop

[Okki]

I've always wanted a bookshop and now my DC's are getting older I'm starting to wonder if I could do it.

Am I crazy?

I don't

It would probably be a nice hobby, albeit an expensive one.

You would probably be in a minority if you could actually run one as a profitable business though and earn more than NMW.

I know someone who owns a bookshop. Honestly, I think if you are to open any retail business, maybe it an online one. A good website, Amazon, ebay, instagram, etc. is the way to go. High street shops are really struggling and have been for years, nothing to do with COVID.

The friend I know who has a bookshop is happy and enjoys what she does, but I don't know how much of it is a 'hobby' compared to a proper source of income. She and her partner are certainly millionaires. They made money in property, I think, selling up abroad and moved back to the UK. They live in a massive manor house on about 200 acres. That's definitely not because she owns a bookshop. I suspect she could close up and it wouldn't make much difference to their incomes.

If you have the necessary funds available and are doing it for the general enjoyment, then all the best and enjoy, if you would prefer too make it a business to gain profit from, then I'd make sure to do a full detailed research and analysis before hand, eg market rates for business premises, your local competition if it's a brick and mortar shop premises, then also eBay there is world of books that sells them cheaply, you have the Amazon kindles selling books, if it's a common or popular title, chances are it's in a charity shop, ect

It’s a very low-income prospect, I’m afraid. Do you know anything about how book retail and publishing supply is set up?

I’d love to have a bookshop - I was very happy in my first job after college doing it, but the book retail landscape is very different now.

To be a successful indie bookshop, in my opinion you need to be in the right place (an active, thriving high street that supports indie businesses, probably in a relatively high-income area), have shit hot customer service and be prepared to market the ass off yourself online and on social media, do lots of events and be proactive about making connections with local schools, literary festivals, publishers and so on.

The margin for profit is really low. People see Amazon pricing and think that’s the baseline not the discount.

Independent bookshops have struggled to survive since the abolition of the net book agreement and arrival of Amazon.

When I was younger, my friend's family owned a well known bookstore that specialised in a particular genre in a touristy area. It is still going but it only survives because of its reputation and they have turned it into a cafe that also sells books and gone mostly online.

My favourite bookstore, Arthur Probsthain, that specialises in Asian and African books, has suffered the same fate, despite being opposite the British Museum. It's now a cafe come art gallery with a few books as a nod to its past. Their book business is mostly online with a store at SOAS.

But at least they are still in business, unlike a lot of less specialised bookshops.

If you are going to do it, I would probably look for a niche where paper books are still popular eg cookery, children's books, cheap out of copyright books, and run it in conjunction with another business that will bring people into the store and generate revenue.

I live in a tourist town that a has successful cut price bookbinding shop. It has all the sections a traditional bookshop has but low prices. It also sells cards, jigsaws, games
As pp said the other way to go is a cafe with a bookshop.
Another nearby market town has a large shop with a large area to books. They also sell toys, newspapers, stationery and gifts.
You need to be in a town with a thriving high street, preferably one where people come to from other areas and with very easy parking.

It doesn't have to be a cafe, there are plenty of other complementary businesses:

www.bloomberg.com/news/articles/2017-09-14/independent-bookstores-get-creative-to-thrive-in-the-age-of-amazon

It would also be worth considering buying an existing business that could be developed, if there any for sale. Either a bookstore or whatever side business you decide on.

Do you want to make money? I can only see bookshops disappearing tbh .

My first thought was also to have a cafe with a bookshop, cards and some board games or present type stuff etc.

Hmm. I do have ideas but think it will be totally impractical where we live 😞. Our high street is populated with charity shops, betting shops and empty shops.