I want to open a bookstore
2007-01-07 01:19:39 · 5 answers · asked by happymommy 4 in Business & Finance ➔ Small Business
your question is much better than others, at least you know you want to open book store!
well, next question comes, where, what kind, how big, and if u have any experience.
you need to select location based on what kind of books you want to sale, new, used, adult, kids etc. it's always preferable to open in a mall but rent will kill you, while small strip mall has lack of traffic unless if you plan to place some ads/promotion in LOCAL news paper, school, church.
next question comes lease and financing. get as small lease with option to renew for several years. You need to stay at least two years to get your business going in full swing, prepare to make some loss for first 12 months. Have enough cash flow to cover rent, salary, bills. Getting a finance depends on your credit and experience on business, ask your banker for SBA loan. shop around for better deal and support.
you need at least one knowledgeable employee (could be you) and if you are the only person planning to run the business, think about having someone as backup, customers like to see store during business hours.
competition with big chain store may hurt you. you need to ask for help from local organizations who promotes 'shop local' or helps small retailers. have great communication, knowledge and customer skills. Try to remember frequent customer and call them by first name, they loves that personalize approach. Have a collection/source of rare books, that might help to bring customer in.
Good luck
2007-01-07 01:52:14 · answer #1 · answered by Ted 4 · 0⤊ 0⤋
Hey, I hope that this will help you out. I promise...this company is not a scam. I work for myself and from home. I do not sell, stock, pick-up or deliver anything. There is no paperwork, no record keeping, and no overhead. All I do is set up wholesale accounts for a catalog company. The starting cost is $29.All of your business info is included in that cost. This is a SOLID 20 year old, INC 500 company, with NO large investments, and NO RISK. And if you are not satisfied, you get ALL your money back within 90 days. This company is set apart from ALL other companies. In two short years my mom, who is a stay at home mom, is making very reliable, residual income. This is not a MLM, or I would not be involved in this myself. If you want more info, e-mail me enhancinglivesdaily@yahoo.com
2007-01-07 16:49:25 · answer #2 · answered by Luke 2 · 0⤊ 1⤋
According to the SBA, 80% of start up small businesses fail. Get the book Winning in Biz - the book and website give you the step-by-step hand-holding of the things to do and how to do them right-the first time. If you are looking for strategies that work, if you want an expert on your side - check it out.
2007-01-07 14:40:52 · answer #3 · answered by Ron San 2 · 0⤊ 0⤋
Go to http://www.score.org/ to find the nearest SCORE chapter. Contact them to arrange for a free one on one meeting with a SCORE counselor.
SCORE is a nonprofit organization. They provide a public service by offering small business advice and training. .
SCORE's 10,500 volunteers have more than 600 business skills. Volunteers share their wisdom and lessons learned in business. The volunteers are working/retired business owners, executives and corporate leaders.
2007-01-07 09:30:53 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Start looking for a location
Start looking for a whole seller http://www.wholesalecentral.com
Get a business license
Take an accounting class unless your already very detailed. Keep good records.
2007-01-07 09:37:50 · answer #5 · answered by Anonymous · 0⤊ 0⤋