How to Start a Bookshop Business in Nigeria

Despite the proliferation of different reading mediums, books are still relevant. Owning a bookshop is challenging and you face lots of competition.

The stores success depends on the inventory, prices and location. Wholesale book dealers make lots of money selling to retailers. While small bookshops make marginal earnings and require regular restocking.

Types of Bookshops

There are generally two types of book stores. You have the terrestrial stores and online stores. Online stores have the eBooks format and print on demand books.

You also find books on auction sites, classified sites and eCommerce stores. Regular bookshops are bound by the demography and localized customer base.

Locate the Bookshop

Bookshops are generally found around in areas with high human traffic. Popular locations are universities, colleges, marketplaces and shopping malls.  Rent a shop in such a location adds bookshelves and display cabinets.

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Funding

Fund the business through personal savings or borrow from friends and family. You can take soft loans from micro finance banks or trade banks.

Bookshops make money from each sale by using a percentage system. Make sure the prices are reasonable and competitive.

Business Registration

It is not compulsory to register the bookshop. However registering as a sole proprietor is beneficial. Obtain a tax identification number and fire insurance cover. 

Inventory

Try to find a credible supplier for the books. Other ways are to import books from US with zero import duty or value added tax.

Find wholesalers online through a simple keyword search and get the books shipped to your location. You can offer to buy peoples used books at a low price. The main inventories are the note books, exercise books academic books and novels.

Try to stock stationary items such as mathematical sets, rulers, eraser, pencils, art paper and coloring material. Purchase a computer and software to manage inventory. Staff requirements are minimal and a small store is easily managed by an individual.

Marketing

Use traditional print medium, social media and yellow pages. You could build a website for your store and sell online. You can raise awareness with promotions, giveaways and community activities. Another way is to network with book clubs, lecturers and school authorities.