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.
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.
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