Here are 10 Simple Steps to Start your Bookstore Business:
1. Find the Right Place to set up your Bookstore business
See if people in your community are actually interested in buying used books.
Although a great location may not guarantee success, a bad location will almost always guarantee failure.
- Look out for the competitors in the area. Lesser the competition, easier is the sales.
- The best location combines visibility, affordability.
- Rent for a place can be as small as Rs 5,000 to Rs 5 lac depending upon the city, location and size of the Book Shop.
2. Get Necessary Licenses and Permits
There are certain legalities and formalities which must be fulfilled to make your Book Shop business legally acceptable.
- Select one of the main operating structures for your small business, such as a corporation, limited liability company, partnership or sole proprietorship.
3. Collect Right Set of Books
Find out what types of books people visiting your book store are likely to buy and read.
- For example, if your shop is in an area with a lot of young families, you should probably invest in kids’ books.
4. Furnish and Decorate your Book Store
Think like your customer.
- Invest in fancy shelves to hold all of your books.
- Buy a desk or table for billing section.
- Consider adding some seating where customers can check out books before buying or wait while their companions complete purchases.
5. Organize your Books well.
Make it easy for your customers to locate books they’ve come in search of.
- Organize your books according to their genre.
- Create sections like fiction, non-fiction, self-help, romance, horror, classics, kids and more.
- Then organize the books alphabetically by title or author.
6. Buyback Used Books and sell it to others
Create a buying program where customers can bring in their used books to sell.
- With this, your inventory increases while bringing more potential customers through the door.
- Used Book Stores are quite popular. Most people buy second-hand books.
7. Give your customers reason to buy from you
Convince your customers to buy from your book store by making it more of an experience.
Why should people come to your physical bookstore?
Customers might be willing to pay slightly more if they can also purchase coffee at a stand in front of your Bookstore cafe. Think about it!
8. Market your Book Store in your local community!
Think about how you want to advertise your Bookstore Business with local promotion.
- Word of mouth, local advertising and promotion are ways to drive traffic to your store.
- Advertise in print. Place an ad in the newspaper, distribute flyers around town during store launch.
- If possible, consider passing around a limited number of coupons to draw potential customers into the Book shop.
9. Advertise ONLINE!
It is important to realize that, consumers of this generation have huge buying potential. They are increasingly relying on the Internet for information.
- Firstly, utilize your Book shop’s website and social media platforms to market your bookshop business.
- Secondly, mark your store on Google Maps.
- Alongside, use Social media like Facebook to reach the growing online consumer population.
10. Adopt technology to manage your Bookstore business
Starting any business is the easiest part. Running it successfully efficient is the big deal.
- Firstly, know how to track down Books that you sell in your Book Store. Start using inventory management App that gets the done effortlessly.
- Managing small business in India single-handedly or with a bunch of people without any confusion is today’s biggest challenge. Consider a business accounting software like Vyapar to help you run the Bookstore, manage inventory and ease up accounting stuff.