In the midst of COVID-19 people found solace in those things that would help their minds to wander. Anything that could give a person a chance to step away from reality for a minute, an hour, or maybe even a day became valued commodities. Many people dived back into the pages of a book.
Books are epic gateways to stories that captivate our minds, and keep us enthralled with every page turn. Books are an economical way of taking your mind of today’s worries, and many of the book stores across America help customers with reaching this unfettered state with each purchase. If you are an entrepreneur who seeks to open up a bookstore, here are a few tips for opening such an establishment.
1. Build a Good Business Plan
When establishing any sort of business, you want to first create a business plan. A business plan is a document that focuses on the goals of your new business and lays out the steps that you’ll take to reach those said goals. Like an outline, a business plan provides a person with a set direction to follow for the business they are creating. When you create a bookstore, it is helpful to have such a plan in place.
Let’s say you’re opening a Christian book store. You want to make sure your business plan includes your financial projections. As a part of your financial projections, be sure to focus here on the tax side of your business. It will help to hire a tax professional to answer any questions here that focus on deductibles, taxable income, tax strategy, traditional IRA’s, Roth IRA’s, RMD’s, tax cuts, a child tax credit the Cares Act, gross income, and capital gains.
You’ll want to ensure that you are staying on the up and up when it comes to handling the financial projections for your business plan. Sure focusing on such financial-related matters as tax burdens, child tax credits, tax benefits, Roth IRA’s, RMD’s, gross income, the Cares Act, and tax deductions can be a bit mind-numbing. Once you bring a tax professional to help complete this component of your business plan, you’ll be that much closer to opening your bestseller book store.
2. Have a Varied Selection of Books
After you figure out the tax strategies of your business plan, you want to figure out what your bookstore will actually specialize in selling. Following the example of opening a Christian bookstore, you want to make sure that you have books that speak to your clientele. Sure, the sign above your door might say “We sell bestseller Christian books” but, there is a variety of different material which falls under that umbrella. You have Harper Collins Christian bestsellers or Harper Collins Christian new releases which feature more current Christian fiction work by authors. On the other side, you might have customers who are just coming to your store to pick up a copy of the KJV Scripture Bible, a Brown leather soft King James study bible, an info NIRV adventure bible for a child, or maybe an info NIV life application study bible.
Christian books include a wide variety of different offerings in addition to bibles and books. These can include sale DVDs and even gift certificates which can be gifted to your loved ones. With gift certificates, a customer is giving someone else an opportunity to purchase a scripture notes Bible study notebook, info NKJV Abide Bible, NKJV study bibles, a set of Christian-themed Harper Collins kids books, African American study bibles, current bestsellers, holy water, brown leather sofa info NIV bibles, or church supplies. Having a variety of things to choose from is a good step to follow when opening up any type of bookstore in the future.
3. The Right Location
When you are building any new business in the United States, you want to also make sure you have chosen the right location. With a bookstore, you want to build your store in a location where people will come to shop. So, focus on a strip mall or even a standing mall where foot traffic stays steady. You don’t want to place your Christian bookstore in a place where you won’t be able to find customers for those Harper Collins Christian bestsellers, First Communion guides, audio cd-piano reflections, greeting cards, Spanish gifts, Jeremiah study bible, brown leather sofa Lucado encouraging word bible, Jesus Storybook Bible, bibles which focus on devotions or King James study bible’s that you have in stock.
4. A Knowledgeable Staff
Make sure that you hire a staff that is extremely knowledgeable about your product. Still using the example of a Christian bookstore, find staff members who have an understanding of the product which you are selling. Train them to be able to answer any questions about KJV Scripture Bibles, free shipping options on bibles, King James study bibes, info NKJV Abide Bible, greeting cards, audio cd-piano reflections, and current bestsellers sale DVDs.
If your staff is surrounded by first communion guides, online gift certificates, bibles that focus on devotions, a stock bible highlighting kit, bible scripture books, Lifeway Bible Studies, and info NIV life application study bibles they should be in the know about all of these items. Having staff that is well versed in the inventory of your store is a great way to ensure your bookstore’s success.