Comments | lynnbodoni: Just call me a money-grubbing capitalist

lynnbodoni

Just call me a money-grubbing capitalist

Jul 26, 2004 23:29

Right now I'm in the process of buying a used book store. By this I mean that not only is the book store used, but it sells used books. My daughter has worked there for several years, and has become the assistant manager. The current owner inherited it from his late wife some years ago, and he's never really been interested in selling books. He ( Read more... )

Comments 21

ajollypyruvate July 26 2004, 21:34:59 UTC

Oof! That's a heck of a business to take on, I tell ya! Have you started reading up on pricing and such?

lynnbodoni July 26 2004, 21:41:23 UTC

The current manager is planning to stay on for another couple of years, and my daughter also knows the pricing plan. So I'll need to go to the shop and learn from them, but yeah, I think I can handle it.

ajollypyruvate July 26 2004, 21:48:25 UTC

Cool! Working for a bookstore has been a favourite job of mine for ~9 years (although I don't work on the floor.) How much longer until the deal is closed? Right after the current owner gets back or will it take longer?

lynnbodoni July 26 2004, 22:37:27 UTC

I don't know. I have to get the funding, which will take some time, and the owner has to, you know, put a PRICE on the store. He has no idea of what price he wants for it. He's been using the "shoebox" method of accounting. So I get to do a lot of number-plugging into various forms and formulas.

It's going to be a lot of hard work, but I really think that I can turn this store around and make it a great place to shop, as well as earning me some money. I don't expect to get rich from it, but who knows? Maybe I'll earn enough to live in the style to which I'd love to become accustomed.

skipmagic July 26 2004, 21:47:33 UTC

Holy Crap this is so cool. I think I love you a little.

I would love to own a bookstore--and one of these days I think I shall. But right now you're pretty damn cool for just going ahead and doing it.

lynnbodoni July 26 2004, 22:33:04 UTC

It's always been a dream of mine, but I've never really planned on doing it. It's just that it's my FAVORITE used book store, and I really like the manager (I've known her for years) and my daughter is working there, and the owner wants to sell. If I believed in God, I'd believe that this was a sign from Her.

skipmagic July 27 2004, 00:02:19 UTC

Excellent. I hope this works out well for you.

porcupinebarb July 26 2004, 21:51:54 UTC

Excellent. I am jealous.

skipmagic July 26 2004, 21:58:14 UTC

By the way: if you go ahead and buy the store, and then later decide to have an on-line presence (with, at the very least, a PayPal thingy), let us know. I'll support your business.

Again, how cool for you.

lynnbodoni July 26 2004, 22:30:30 UTC

Oh, the shop already has an online presence, and BELIEVE me, I plan to continue that. Over half the income is from online sales. I'm fairly sure that the shop takes PayPal.

skipmagic July 27 2004, 00:01:19 UTC

I'm comfortable with secure payments other than PayPal; but it sounds like they probably even have their inventory on-line. Nice.

Soo Cool! sheherazahde July 27 2004, 03:56:42 UTC

You go Girl!

I hope you get it. That does sound like a dream job.

Post the URl for your store when you get it.