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- How much local independent bookstores make on an average day
- Which cities were home to the most successful independent bookstores
- The biggest days of the year for bookstores
- The average week for bookstore sales
- How big is independent bookstore day?
- How to attract more customers to your bookstore
For the past several years, the last Saturday in April marks Independent Bookstore Day. It’s a day meant to honor and recognize the importance of small, local bookstores everywhere.
In spite of the growth of online retail giants and massive national chains, local and independent bookstores remain a staple of Main Streets across the country. Which made us wonder, how much do local and independent bookstores make? When are they busiest? And if you own or manage an independent bookstore, what can you do to compete in today’s increasingly digital world?
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To answer these questions and more, we analyzed transaction data at over 1,100 independent bookstores across the country for all of 2018. Let’s take a look at what we learned.
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How much do local independent bookstores make on an average day?
We first looked at the average day, throughout the year, for all independent bookstores across the country. We found that, on average, independent bookstores brought in $697 in revenue on a given day. The average location processed 14 transactions per day, with customers spending an average of $48.24 per transaction.
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We also took a look at which cities were home to independent bookstores that did particularly well. Durham, North Carolina topped the list of cities we analyzed, with bookstores in the college town bringing in 148% more than the national average.
Durham bookstores owed their success to consistently high foot traffic, processing an average of 48 transactions per day (at a below national average ticket price of $36.47 per transaction). In fact, of the top five cities on our list, all but one more than doubled the national average of 14 daily transactions. (Houston bookstores averaged 17 transactions per day, but bookworms in Space City spent an average of $70.84 per transaction, which was enough to skyrocket Houston up the charts).
Omaha, Nebraska was home to the busiest bookstores in our study, averaging 51 transactions per day. Enough to put Omaha in the top ten in spite of average per-transaction ticket falling 52% below the national average.
The city where people spent the most per-transaction? 1200 dpi usb scanner driver for windows 10. That’d be Washington, DC. Bookstores in the District saw shoppers spend a whopping $92 per transaction on average.
When looking at cities home to the bookstores that bring in the most total revenue each day, however, it’s clear that consistently high foot traffic is key.
What are the busiest days of the year for independent bookstores?
Next we looked at sales trends throughout the year to determine what times of the year independent bookstores did the most business. Total revenue for all bookstores was mostly consistent from week-to-week throughout the year, with 3 distinct exceptions.
Local bookstores start the year off with a boost in revenue during mid-January. Perhaps thanks to millions of Americans eager to make good on their New Year’s Resolutions to read more.
Revenue then falls to consistent levels until August, as back to school shopping season sees bookstores experiencing their busiest month of the year. Finally, bookstores close out the year on a high note with the Holiday shopping season bringing the second biggest spike in sales.
The top five single-biggest days of the year for independent bookstores also reflect these trends. Black Friday might be the time to buy hot new gadgets, but books are clearly a last-minute shopper’s go-to, as three of the top four days of the year all falling within a few days of Christmas.
Which days of the week do bookstores make the most money?
Looking at revenue performance over a given week shows that bookstores bring in consistent revenue throughout the week. Until Sundays, that is, when 54% of independent bookstores keep their doors closed for the day.
A closer look shows that bookstores process fewer transactions on weekdays, but at a higher average purchase price. Meanwhile, weekends saw heavier foot traffic but with lower average ticket prices. This suggests that the most dedicated bookworms, who buy more books or pricier prints, make up a bigger percentage of weekday purchases. Saturdays, on the other hand, are much more likely to see a greater variety of customers and purchase.
How big is Independent Bookstore Day for independent bookstores?
So what about Independent Bookstore Day? Does a day created to generate excitement and good will for our country’s independent bookstores result in big sales for local businesses?
The answer is, it depends.
At a national level, Independent Bookstore Day looks like just another average day, with local bookstores across the country experiencing just a 3% average bump in revenue vs. the average day.
But when we looked a state by state view of performance during last year’s Independent Book Store Day, it’s clear that some businesses did celebrate the day with big sales.
Kansas bookstores had the biggest Independent Bookstore Day, pulling in 151% more revenue on that day than on a typical day in the Sunflower State. But, as the chart above shows, 12 states had bookstores bring in 30% or more than the typical day during Independent Bookstore Day. This would suggest that local bookstores who go the extra mile to bring attention to Independent Bookstore Day can use the day to drive more customers in the door.
How to attract more customers to your independent bookstore
Looking at the performance of independent bookstores across the country and throughout the year shows that, contrary to popular opinion, the local independent bookstore is far from dead.
While big box and online book sellers still dominate the national landscape, independent bookstores have the ability to foster deep and personal loyalty from their customers. If you own or manage a local bookstore, it’s vital that you know as much as you can about the industry and your customers as possible. And a good marketing plan for your independent book store can make a huge difference in where your bookstore stacks up against the national average and your local competition alike.
Make sure you’re taking advantage of peak seasons like new years, back to school, and the holidays. Look for special events like Independent Bookstore Day that you can use to generate excitement about supporting a local bookseller. And, finally, try investigating a business insights software solution so you can get smarter about your customers and their impact on your business. Sign up for a free demo to see how Womply can help you stop guessing and start knowing exactly how your business stacks up to the competition.
Executive Summary
Introduction
Flyleaf Books is a start-up used bookstore in the Cleveland, Ohio area. It is the goal of the company management to acquire local market share in the used bookstore industry through low price, a dominant selection of products, a competitive variety of services including a buyback/trade program and hard to find book search, plus a relaxing, friendly environment that encourages browsing and reading.
Flyleaf Books is a start-up used bookstore in the Cleveland, Ohio area. It is the goal of the company management to acquire local market share in the used bookstore industry through low price, a dominant selection of products, a competitive variety of services including a buyback/trade program and hard to find book search, plus a relaxing, friendly environment that encourages browsing and reading.
Company
Flyleaf will be a limited liability corporation registered in the state of Ohio. The company will be jointly owned by Mr. James Vinck, a former head librarian of the Philadelphia City Library, and his wife Aracela.
Flyleaf will be a limited liability corporation registered in the state of Ohio. The company will be jointly owned by Mr. James Vinck, a former head librarian of the Philadelphia City Library, and his wife Aracela.
Mr. Vinck is establishing this firm as a growth-oriented endeavor in order to supplement his retirement, continue meeting people with similar interests, and to leave a viable business to his children. Flyleaf Books will be establishing its store in one of the busiest section of Brecksville, an outlying suburb of Cleveland. This area is well know for its upscale residents and high-quality establishments. Our facility is a former 8,000 square ft. furniture store which allows the company to stock a large amount of inventory.
Products/Services
Flyleaf Books will offer a wide range of book, magazine, and music selections. This includes just about every conceivable category including fiction, non-fiction, business, science, children's, hobbies, collecting, and other types of books. Our music selection will concentrate on CD's as these are the most popular and take up the least amount of floor space. In addition, we will be offering a competitive buy and trade service to assist in lowering our inventory acquisition costs and making our store more attractive to our customers. In addition, we offer a search and order service for customer seeking to find hard to get items. Flyleaf Books will have a relaxed 'reading room' type atmosphere that we will encourage through the placement of chairs, couches, etc.
Flyleaf Books will offer a wide range of book, magazine, and music selections. This includes just about every conceivable category including fiction, non-fiction, business, science, children's, hobbies, collecting, and other types of books. Our music selection will concentrate on CD's as these are the most popular and take up the least amount of floor space. In addition, we will be offering a competitive buy and trade service to assist in lowering our inventory acquisition costs and making our store more attractive to our customers. In addition, we offer a search and order service for customer seeking to find hard to get items. Flyleaf Books will have a relaxed 'reading room' type atmosphere that we will encourage through the placement of chairs, couches, etc.
![Bookstore inventory management software Bookstore inventory management software](/uploads/1/3/3/2/133280033/145969967.png)
Market
Our market is facing a decline in growth over the past two years. This is attributed to the overall weak economy. Book store industry sales rose only 3.6% for last year whereas overall U.S. retail sales grew by 4.3%. However, management believes that this may be an advantage to the used bookstore industry. As customers cut back on purchasing, used bookstores will look more attractive to customers who still wish to purchase books. Therefore, management believes this may be a good time to get into the industry and gain market share.
Our market is facing a decline in growth over the past two years. This is attributed to the overall weak economy. Book store industry sales rose only 3.6% for last year whereas overall U.S. retail sales grew by 4.3%. However, management believes that this may be an advantage to the used bookstore industry. As customers cut back on purchasing, used bookstores will look more attractive to customers who still wish to purchase books. Therefore, management believes this may be a good time to get into the industry and gain market share.
The bookstore industry as a whole is going through a large consolidation. Previously, the market was dominated by local, small stores and regional chains. With the advent of the 'superstore' as created by Barnes & Noble, the largest players in the market have been able to gather significant market share and drive many independent booksellers out of the market.
Amd radeon drivers linux. Where independent booksellers can still create a viable position for themselves within the market is in the used books segment. This segment generally does not attract big companies since the 'superstore' concept is much more difficult to replicate in a market with such low profit margins. This tends to favor the local independent bookseller in the used book market segment as long as they can acquire a sufficiently large enough facility to house an attractive inventory and compete with the national chains.
Financial Considerations
Our start-up expenses come to $178,000, which are single time fees associated with opening the store. These costs are financed by both private investors and SBA loans. Please note that we expect to be operating at a loss for the first couple of months before advertising begins to take effect and draw in customers. Flyleaf Books will be receiving periodic influxes of cash to cover operating expenses during the first two years as it strives toward sustainable profitability. Funding has been arranged through lending institutions and private investors already. We do not anticipate any cash flow problems during the next three years.
Our start-up expenses come to $178,000, which are single time fees associated with opening the store. These costs are financed by both private investors and SBA loans. Please note that we expect to be operating at a loss for the first couple of months before advertising begins to take effect and draw in customers. Flyleaf Books will be receiving periodic influxes of cash to cover operating expenses during the first two years as it strives toward sustainable profitability. Funding has been arranged through lending institutions and private investors already. We do not anticipate any cash flow problems during the next three years.
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![Bookstore Software For Independent Bookstores Bookstore Software For Independent Bookstores](/uploads/1/3/3/2/133280033/607608477.jpg)
1.1 Objectives
These are the goals for the next three years for Flyleaf Books:
- Achieve profitability by July Year 2.
- Earn approximately $200,000 in sales by Year 3.
- Pay owners a reasonable salary while running at a profit.
1.2 Keys to Success
In order to survive and expand, Flyleaf Books must keep the following issues in mind: Hack a day blog.
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- We must attain a high level of visibility through the media, billboards, and other advertising.
- We must establish rigid procedures for cost control and incentives for maintaining tight control in order to become THE low-cost leader in used books.
- In order to continually attract customers, we must be able to keep the maximum amount of inventory available and achieve a high level of customer service.
1.3 Mission
Flyleaf Book's mission is to provide used quality literature of all types at the lowest possible prices in the Cleveland, OH area. The company additionally seeks to provide a comfortable atmosphere for its clients that promotes browsing, relaxation, and an enjoyable environment to spend extend time in. Flyleaf's attraction to its customers will be our large selection of books, magazines, used CD's and our purchasing/buyback option, which lower our book acquisition costs and allows our customers to discard unwanted books/CD's in exchange for cash.