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J. Kay Swi
I am currently working on a college research paper
What was the total start up cost in order to open a used book store?
How much was the rent for the facility you use, and how much is it currently?
What are all your business expenses including past and present?
What is the monthly charge or payment to create and maintain an online store or website?
Explain the business you run?
What is your competition and how do they differ?
What is the economic, social, and legal documents, information, impact, and conditions to which you have to abide by, adapt to, and work in order for your business to properly function?
What is the demand for products you offer in your location, and how does this make your business successful?
What is a good description for your store, and the design of the facility? What made you choose this design and how do you think it helps you or make you stand out amongst your competitors?
Is there any other vital information that you think is relevant and/or you think I should know?
Answer
I am a former bookstore owner, a former university book buyer, and a former manager for Barnes and Noble and Books a Million.
In March of 2000, I opened a 6,500 sq ft. Book/Gift/Cafe, in a strip mall, in a small southern town, pop 8,500.
The start up cost was 50,000.00 (it was all I had).
Below is an itemized list of monthly expenditures.
Rent: $1,000.00
Utilities: 650.00
Phone: 150.00 (includes internet)
Salaries: 2,800.00
Licenses: 35.00
Advertising: 200.00
Fed Emp Tax: 900.00
St. Emp Tax: 60.00
Sales Tax: 2,400.00
Fed Income tax: NA
Inventory replacement 6,000.00
Gross Income: 31,000.00
The nearest comparable bookstore is 81 miles south. For this reason, I experienced a measure of success. There are factors that influence the money customers have to spend such as: 911, the high cost of gas, shipping charges, the presidential elections, etc.
I sold my business for a profit in 2006.
A business is like a baby. It has to be fed to grow, it has to be monitored continually, and it takes years before you see the success of the many hours of work you have invested.
I would be glad to answer any questions you have..
I am a former bookstore owner, a former university book buyer, and a former manager for Barnes and Noble and Books a Million.
In March of 2000, I opened a 6,500 sq ft. Book/Gift/Cafe, in a strip mall, in a small southern town, pop 8,500.
The start up cost was 50,000.00 (it was all I had).
Below is an itemized list of monthly expenditures.
Rent: $1,000.00
Utilities: 650.00
Phone: 150.00 (includes internet)
Salaries: 2,800.00
Licenses: 35.00
Advertising: 200.00
Fed Emp Tax: 900.00
St. Emp Tax: 60.00
Sales Tax: 2,400.00
Fed Income tax: NA
Inventory replacement 6,000.00
Gross Income: 31,000.00
The nearest comparable bookstore is 81 miles south. For this reason, I experienced a measure of success. There are factors that influence the money customers have to spend such as: 911, the high cost of gas, shipping charges, the presidential elections, etc.
I sold my business for a profit in 2006.
A business is like a baby. It has to be fed to grow, it has to be monitored continually, and it takes years before you see the success of the many hours of work you have invested.
I would be glad to answer any questions you have..
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