Saturday, June 29, 2013

Advice Needed About Owning a Business

So I need you guys' help. My main goal career wise is to own a business of my own. In particular, I want to own a bookstore. This has been a dream for quite some time, and I intend to make it happen sometime in the future. I have done and am still doing a ton of research about owning a bookstore, so I have read a lot of the facts, statistics, and logistics of opening a small business. But what I do not have are first-hand accounts. This is where you guys come in. I need advice from people that have opened a business, know someone that has opened a business, or is just very knowledgeable about the process.

Some of the questions I have are as follows:

  • What was your experience opening your own business?
  • Would you recommend starting a business?
  • Are you familiar with owning a bookstore?
  • How did you fund the start-up costs?
  • Any advice on handling the legal issues?
  • How did you furnish your business?
  • How did you go about finding a place to lease?
  • What sort of marketing ploys did you use?
  • How did you get your inventory?

Also, I need some opinions on one other topic. Considering that the market for bookstores isn't at it's best due to the age of e-books, Amazon, and eBay. I need to ensure that a bookstore I opened appealed enough to the general public that they would want to come buy their books from a local shop versus online. So let's get hypothetical here. Say I was opening a bookstore near you, what kind of store would you want to see? Used vs. new? Would you want to have the option of hanging out and having a cup of coffee while you browse? Basically, what would lure you into a local bookstore to shop instead of shopping online? What would a bookstore need to have to entice you to come through it's doors?

The idea of opening a bookstore has been stewing in my mind for quite some time, but it is still a long way away from happening. I am definitely still in the researching/brainstorming phase of the project. I just really wanted to see what kind of advice you guys would be able to offer. Although this is a big dream of mine, I know it has to be something that is practical. Therefore, if you have advice to offer that could really put things into perspective for me, please share!


Lyndsey Mosley said...

By the way, if you'd rather message me directly, my email is

Krista Johnson said...

From a consumer standpoint.... Definitely with a coffee shop inside. One of my favorite things about weekend nights as a teenager was going to Barnes and Nobles to get coffee and look through books. Free WiFi is a must. Since I'm assuming it'd be a small venture at first, it'd be neat to host a monthly book club there. You'd get people in and they could buy the book of the month from you. Having an online presence, either just social media and a simple website or the ability for people to order things from your site and pick up in store would be good.

Lyndsey Mosley said...

Great ideas Krista! Thanks girl! I am on my way to check out your new blog!