Your Book Store Business Plan Success Model

Are you opening a book store? or for financing one?  These are actually two different types of business plans, and both are very legitimate.  So let's take a look at them.

Opening The Doors Of Your New Book Store

With the onslaught of bad news about the book store business these past few years, you have chosen a challenging field.  But I must confess, if I weren't here on the web, I would probably be in a book store.  I just love them, as do armies of other people.

The key for your business plan for your bookstore is to find your niche.  I know a mystery bookstore that does extremely well, and a computer bookstore that also does exceptionally well, and even a gardening bookstore that thrives.  There are art focused book stores, and geographically oriented bookstores (e.g., Pages of New York).   And lots of antique book stores and children's book stores (yeah!).

Bookstores are like friends -- they stick with you for a long time.  And that is the relationship that you need to develop with your customers.  A general purpose bookstore is going to find it tough going.

Start Up Right Now.  The workbook for small business success.  Work through everything you need to know before opening your business with this start up business plan.  Spreadsheets. Worksheets.  Everything for you to pencil in, just for yourself.  Get your ducks in a row, and success will follow!

It is real hard competing against a huge general book source, like Amazon or Barnes & Noble.  They are just too huge.  It is, however, that huge-ness that is their biggest liability.  They are so immense that books just get lost in them.  As a small focused bookstore, your strength lies in your ability to feature smaller houses, lesser known writers, and sometimes esoteric topics.

I do know a couple of smaller general bookstores that do very nicely.  They have both taken the idea of the in house coffee bar and expanded on it, adding a whole little cafe for breakfast and lunch.  With books all around, it is just a splendid atmosphere.  BUT they each have strong sections on local history, gardening, authors, etc.

Whatever your book store does to differentiate your business, be sure to promote in well as  you look for financing with your business plan.  Don't assume the banker will know what you are up to -- he won't.  So spell it out and explain why you are doing it.  Give examples of other similar bookstores in adjacent counties.  Clearly demonstrate that you've done your homework on this point.

A Book Store Business Plan That Expands Beyond The Doors

No matter how wide your doors swing open, you are only reaching a tiny portion of your potential market on site with a brick and mortar only book store business plan.  There is an immense world wide web out there, just waiting for your web site.  And, no, your website won't even remotely resemble that of Amazon.  Yours will be quite unique, focusing on your style, your topics, your books.

Let's do a "for instance".  Suppose your book shop will feature cook books.  How can you expand that on the web to make bundles of money?  Believe me, this is a lot easier than you think.  The web host I use, HostGator, has a whole slew of ready made templates you can use, and it is just about as easy as typing.

One of the big issues in ecommerce is making money.  Book related websites have a lot of options for generating income from a website, such as:

ADSENSE ADS.  You see that block of advertising at the top of this page?  Those are AdSense ads.  Whenever someone clicks on one of those ads, I earn some money.  Usually not much money, but it adds up.  Cooking topics are not typically high paying keywords for AdSense, so this probably would not be my first choice for your website.

COOK BOOKS.  All kinds.  Sell books from your shop of course.  Also become an Amazon affiliate and sell their books on your website.  They don't pay a lot, but people trust them, so it is usually a good affiliate relationship.  And the visitors to your website will trust your recommendations because they know you to be an  expert in your field.

EBOOKS.  Write your own ebooks and sell them.  Maybe ebooks on how to create special dishes, or how to arrange parties, or where to find unique ingredients.  You can also accept ebooks from other authors, either charging per month to have their book listed or keeping a commission each time it sells.  This type of store is easy to set up.

UNIQUE INGREDIENTS.  Sell those unique ingredients yourself.

COOKING PARAPHERNALIA.  Aprons.  Cookware.  Utensils.  All kinds of neat cooking stuff.  You can find this via an affiliate relationship, or making some yourself, or having a local artisan make some.

There is lots more you could showcase on your online site.  Plan for your business to incorporate this type of promotion and you will way ahead of your competitors.  You are an expert in your field -- let that show through on your website.

When Your Book Store Business Plan Is For Financing

Because of your industry, it may not be easy finding a banker who can work with you on financing your book store business plan.  You are looking for a banker who understands brick and mortar businesses AND one who understands online businesses.  If that bank offers SBA guaranteed loans, that is even better.  That is a tough combination.  Once you find this banker, treat her like a queen.  Even if her bank isn't able to help, she will know who to refer you to.

Write A Great Business Plan  Step by step, with all the information you need to present to your banker.  Three components: (1) the workbook, (2) spreadsheets, and (3) the template.  Even sample business plans are included.

Create a  business plan that demonstrates your creativity and business savvy, one with color and life.  Put up at least a few pages of your website so they can see what it will look like and how it will enhance your business.

Your business plan will focus on your previous successes in the book world and the retail world, and if you have prior online successes that is a real bonus.  Writing your business plan will probably be a lot easier than imagine.

Also, to help you on your way, do check out some of the articles listed below.

And here are some of the comments we've received from book people:

Janice and Stanley (Allentown, PA)
We both were nearly retirement, but we didn't want to retire, nor in truth could we afford to.  So we opened a small Christian book store.  Ironically, we are only two doors away from one of the Jewish book stores in the area, and we all trade notes over early morning coffee at the cafe bookstore at the corner.  What a great, great way to live.  Thank you for all your help.

Paul (Pueblo, CO)
I know there's an abundance of antique bookstores and used books, but ours is going to be so different.  We are focusing on sports related books, original editions.  I don't think we would have gotten any funding at all if it hadn't been for our website, like you suggested.  Having an international presence does make all the difference.

Tina Wagner (Maine)
I went to work for a campus book store in New Jersey for two years to learn the ropes, and I've learned so much more on my own that I think I can teach them a thing or two.  The e-book revolution is really changing everything.

Carla Ross (Kansas)
I was a children's librarian for over 20 years and dreamed for years of opening my own bookstore.  I wanted toys, and coffee for parents, and a comfortable environment, like in the movie "You've Got Mail".  Fortunately our little town doesn't attract the big stores, so I opened up a small bookshop about three years ago.  Now I am going for my first loan, so I can open up a second store about 20 miles away.  What a joy this journey has been.

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