Profit means buy low and sell higher. Businesses sell things to CUSTOMERS, not to themselves.

There are two independent bookstores in my town which appear to thrive, and both have the same model. They buy (often with store credit at a slightly higher rate) used books, cds, and dvds from the public and resell at twice the buy price. There are ALWAYS people lined up at the TWO registers at one, and the other seems at least busy.

So, customer buys THE NEW BEST SELLER for $20 on January 1.

March 1, he brings it in and the store gives him $5.

March 2, customer buys ALMOST NEW BEST SELLER for $10.

June 1, customer 2 returns and sells RECENT BEST SELLER for $2.

July 1, customer 3 buys FORMER BEST SELLER for $4.

Everybody is happy. The store has made 100% in 2 months of holding inventory. I’ll bet the big box didn’t make $7 on the book.

The brilliance is that the customers set the inventory. Instead of trying to figure out what they want, actual buyers of goods bring you stuff actual they have already chosen.

Norah Roberts might not write books YOU like, but there are plenty of dollars chasing them. Lots of those dollars belong to people who would far rather buy 20 tattered ones for a dollar each than a shiny one for $20.

Treadwaters might give that model a try.

If you don’t want to pour money in the rat hole, you might have an exchange corner- let customers leave their books, to be resold and the price split.

Do all the accounting on the back flyleaf of each book, rip it out when the book is sold. Make the seller responsible for coming in to get payment. Hold each book for a maximum period, say a month, at which time it has to be retrieved, pitched, or moved to a dollar box for a week before discard.

This model works for antique malls. And on line for ebay and abe for that matter. You’re just the physical version thereof.

When I update my links, I’ll link to you if that’s alright.

Note from the Wicked Witch of Publishing ™: Smarter than smart.

I’ve been felled by the flu. No doubt something I picked up at New York International Gift Fair last week. Will post again as soon as the fever breaks!

I have managed to read Jetta Carleton’s The Moonflower Vine (published in 1962) while convalescing. I bought it based on an exchange between bloggers at another Web site. Maybe there is a copy somewhere in TreadWaters. If so, I’m handselling it.

There are some natural tie-ins to books ; calendars, dairies etc - however this is one trade where sales are actually falling for most manufacturing suppliers.

I consider myself independent because I am not a member of any buying association or group. I run “my ship” to suit myself and my core customers - who are extremely loyal : my business only takes stock firm sale and therefore I am a totally free-agent on stock range - sourcing from multiple wholesale and publisher accounts. Last Christmas I carried many titles which were not shelved in UK’s high street chains : I pay no attention to anybody but my own bank balance and my own eyes - that is what I consider to be independence. (Market traders in the UK have a saying - let your eyes be the judge, and your pocket be the guide)

All the above can appear arrogant and pompous : I consider it rather the lessons learnt from doing my money on too many occasions in the past !

To me, as a bookseller’s clerk, what we are selling is about the reading, not interior decoration, as anybody who’s ever seen the interior of my beloved Renaissance Books [main store] will attest. Do what you do best, and do it damned well.

The term “independent” I think has been mis-interpreted by a lot of people. It merely means, in my mind, “independent” from an established chain. No business is independent. That attitude is recipe for sure failure. You are dependent on the customers, your employees, vendors, community, store environment, etc. All of these factors mixed wisely contribute to a successful business, along with HARD WORK!!! : )

Thanks to all who took the time to post. The information is most valuable!

Note from the Wicked Witch of Publishing ™: Thanks for dropping by, Tom. I’ve just been to The New York International Gift Fair, looking for possible items to augment TreadWaters’ books, having been told that the mix should be 70% books/30% other complementary items. What a nightmare: 17 miles of exhibits. I’ll be posting shortly. The question is whether I will plunge ahead and keep the store or cut my losses in some sort of profitable way if I can. 

Grumpy Old Bookman: Tuesday Again: “Much debate at the Publishing Contrarian about the role and survival of independent bookshops. Essential reading if you’re running one, or thinking of it, or like to buy from them.”

Ebay Forums: The Future for Independent Bookstores

Library and Information Science News: The Publishing Contrarian and Independent Bookstores

Frank Wilson at The Philadelphia Inquirer: Attention Independent Bookstores

Brandy Wine Books: From Treading Water to Walking on It 

Times Emit: A Period of Transition

JacketFlap—Children’s Publishing Blog Reader: Viewing Blog

It’s sad, but I knew that when I went back, and I will, they may not be there.

Note from the Wicked Witch of Publishing ™: Lyn, why go back to either store?

Note from the Wicked Witch of Publishing ™: Hi, Tom! That’s right, you are on your book tour. Did I read that Halsey’s Typhoon is hovering at 19 on the New York Times Best Seller List? Did I? Yahooo. I remember a 16-city tour for one of my books. Exhausting. Lots of radio, TV, and local newspaper interviews, but NO bookstore signings at all. Why? No books arrived from the publisher in time for my appearances. [Don’t get me started!]

TreadWaters will have a closed-door, invitation-only book party for you (30-40% will buy) at 5:30PM, an open-door reception for the hoi polloi at 6:30PM (10-20% will buy), and a private dinner party for ten deep-pocketed people at 8PM ($125? each) at the Mayor’s house at 8PM. 

P.S. (How’m I doin’?)