American adults spend an average of 20 minutes reading books daily. This number has been gradually increasing in recent years, especially since people are turning to books as a form of entertainment during the peak of the COVID-19 pandemic. With so much time spent at home, many are finding comfort in novels, nonfiction, and other types of reading material. As such, the publishing industry will continue to grow as more readers turn to books as their source of entertainment and learning.
Given these, are you thinking of opening a bookstore? Or maybe you’ve already taken the plunge and opened one, but you’re unsure how to keep it running smoothly. Here are five tips to help your bookstore business thrive:
Keep Your Shelves Stocked
Your customers will be looking for the latest bestsellers, so it’s important to ensure that you have a steady supply of new titles. You can do this by placing orders with your suppliers in advance, so you’re never caught without the latest release. Advanced ordering will also help you take advantage of special discounts and promotions publishers offer. Exploring these options will help you keep your shelves stocked without spending more than you need to.
Moreover, it’s important to give your customers more book options. This enables you to appeal to a broader range of customers and ultimately results in more sales. Many book types are available, including bundled novels, comic books, and puzzle books. But if you want to offer more books that challenge your customers’ logic and problem-solving, you can offer them more books on puzzles and games. You can get these books from Penny Publications, LLC, and other reputable publishers. Establishing connections with them will allow you to get the latest titles as soon as they’re released.
Promote Local Authors
Bookstores are a vital part of the literary community and play an important role in promoting local authors. When customers see books by their favorite authors on the shelves, it can inspire them to pick up a new book and try it. In addition, you can help to connect authors with their fans by hosting signing events and other meet-and-greet opportunities. This will also help boost your store’s profile and attract new customers. If you’re unsure where to find local authors, check out your state’s writers’ guild or your local library. By supporting local authors, bookstores can help to build a solid literary community and foster a love of reading in their customers.
Offer Discount Cards
Offering discount cards to your loyal customers is a great way to show them how much you appreciate their business. Not only will they save money on their purchase, but they’ll also be able to take advantage of exclusive offers and deals that are only available to cardholders. For example, you could offer a discount on items purchased during certain times of the day or week or a percentage off of the total purchase. Likewise, a discount card can help customers build up points with your store that can be redeemed for even more savings. These discount cards can be beneficial during slow periods, such as the summer months when people are more likely to travel or take vacations.
Get Involved in the Community
As a local bookstore, getting involved in the community is important. This can be done in many ways, such as sponsoring events or fundraisers and partnering with other local businesses. Getting involved will help you build relationships with other local businesses and individuals in the community, which can benefit your business in many ways. Local events offer a variety of opportunities and programs that can bring people together and promote a love of reading. By getting involved in the community, you can reach new customers and build relationships with existing ones. In addition, it enables you to support local organizations and causes that are important to your employees and customers. By being an active member of the community, you can make a positive difference in the lives of those who live and work there.
Keep Up with Trends in the Industry
The book industry is constantly changing, so it’s important to stay up-to-date on the latest trends. This can be done by following industry news sources, such as Publishers Weekly or Bookseller magazine. Staying informed will help you decide what changes to make in your own store, such as the trending genre for a particular demographic or what new book series are becoming popular.
Opening and maintaining a successful bookstore requires hard work and dedication, but it can be an enriching experience. With the right strategies, you can ensure that your store is profitable and enjoyable for you and your customers.