There is just something special about being able to sit down with a good book. The words on a page change the environment into a rich wonderland of characters, mysteries, and adventure. Although the world is changing and books may not be known as they once were, there will always be a place for the community book store. Here are some pros and cons of opening a book store business.
Pros:
You get to sell something that people are passionate about.
Many people don’t like to read, but many people love a good book. Something that sits down and makes you keep turning pages deep into the night is completely satisfying for everyone. Once you own a book store, you can provide a true happiness by owning a retail environment that can do something that is quite rare.
Old books can be sold just as well as new books.
Enthusiastic readers will always look for a new adventure. Sometimes, what they are looking for comes from a new release. Sometimes, however, it will come from books that are several decades old but are still favoured by many people.
You don’t necessarily get stuck with inventory that won’t sell.
Most publishers have arrangements with book stores that will allow them to return unsold books that don’t move. This removes the need to purchase inventory on the risk that it may not move. Used book stores don’t have the same luxury, but they also tend to have a little more control over the inventory that gets brought in, so you’re still not stuck with books that are not sold.
Cons:
There’s high competition against online book stores.
E-commerce megastores like Amazon have ebooks for sale at a fraction of the cost of a traditional book. New releases can come in for less than what a paperback costs today at a discounted retail price. This will open up more books to more households, but it also means fewer people might be coming into your store to browse.
The inventory options are often difficult to expand upon.
The reason that many book stores are looking to add coffee shops, wine bars, and other service-related options is to encourage more readers to stop on in. You can’t really add much in the way of inventory when you are selling books. Certain coordinating items, like toys or stuffed animals, can work, but only on a limited basis. That fact ultimately limits your chances of achieving full profitability.
Check out these book stores in Australia.