Inventory Management Tips for Small Bookstores
Running a bookstore means low profit margins and catering to your area’s
audience or finding a niche. It means working hard as a small business
and knowing how to find the right book for a particular person. One of
the most important parts of owning and running a bookstore is proper
inventory management. Knowing when to rotate out books, which genre to
buy, and what non-book items you should sell in the store can make or
break a local bookstore.
Plan to Move Inventory
First, know that you will have to unload, receive, unbox, and shelve books yourself, even if you have employees. Save your back and buy a lightweight aluminum hand truck and stack boxes on it. This will save your back in the long run and save time when switching out inventory. You will want to rotate out books and displays to keep the store looking fresh, especially if customers only drop by a few times each year. Be sure to plan for seasonal buying, as well, moving more inventory in during the winter, when people are more likely to buy longer novels, gifts, or whatever was on their New Year’s resolution list.
New and Used
As a local bookstore, it’s wise to diversify. Offering both new and used inventory opens up opportunities to compete with Amazon. Book enthusiasts love looking through old books to see what they can find, sometimes finding something that piques their interest that may not still be in print. This also helps keep your inventory fresh, with an exciting array of books beyond new releases for people to dig in to. They offer a chance to find something that passed under the radar when it was published but is still a fun read.
Impulse Buys
Your inventory should not just be limited to books. Offer impulse buys, such as journals, bookmarks, candy, stationery, mugs, t-shirts, pens, and other office supplies, especially near the cash register. Customers will be more likely to grab something on their way to checking out, adding additional profit per customer. If possible, add a café element to your store. Whether it’s just a corner where customers can buy a cup of coffee or a fully-fledged café with baristas and pastries, this can add a different type of inventory that improves profits. Food and cafés generally have a higher profit-per-square-foot than the rest of the bookstore. If you’re not able to do either of these, talk to nearby café owners about joint promotional events, like inviting an author for a reading or offering coupons when a customer visits both locations.
Hire the Right Staff
Finally, you need to hire the right staff. What does this have to do with inventory? The right staff knows, generally, what books are offered in the store. More importantly, they know how to find the right book for the customer and how to make recommendations that will land a sale. Plus, they can help out with moving inventory. This is where the hand trucks come back in: Employees need to be efficient in packing, moving, and unpacking inventory, but not at the cost of back strain.
About Magline
Magliner hand trucks are legendary. The Magline brand is one of the most well-known and trusted in the material handling industry. Many people call any hand truck a “Magliner” regardless of the actual brand, but there is no substitute for the quality and durability of the real thing. With more than 70 years of experience, Magline continues to produce the most reliable material handling equipment. Besides their famous hand truck, they produce a variety of specialized equipment such as the stair climbing cart, walk behind forklift, and u boat cart. For bigger jobs you can use motorized versions of many of their products.
To find Magliner products for your bookstore, visit Magliner.com
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| Hand Truck |
Plan to Move Inventory
First, know that you will have to unload, receive, unbox, and shelve books yourself, even if you have employees. Save your back and buy a lightweight aluminum hand truck and stack boxes on it. This will save your back in the long run and save time when switching out inventory. You will want to rotate out books and displays to keep the store looking fresh, especially if customers only drop by a few times each year. Be sure to plan for seasonal buying, as well, moving more inventory in during the winter, when people are more likely to buy longer novels, gifts, or whatever was on their New Year’s resolution list.
New and Used
As a local bookstore, it’s wise to diversify. Offering both new and used inventory opens up opportunities to compete with Amazon. Book enthusiasts love looking through old books to see what they can find, sometimes finding something that piques their interest that may not still be in print. This also helps keep your inventory fresh, with an exciting array of books beyond new releases for people to dig in to. They offer a chance to find something that passed under the radar when it was published but is still a fun read.
Impulse Buys
Your inventory should not just be limited to books. Offer impulse buys, such as journals, bookmarks, candy, stationery, mugs, t-shirts, pens, and other office supplies, especially near the cash register. Customers will be more likely to grab something on their way to checking out, adding additional profit per customer. If possible, add a café element to your store. Whether it’s just a corner where customers can buy a cup of coffee or a fully-fledged café with baristas and pastries, this can add a different type of inventory that improves profits. Food and cafés generally have a higher profit-per-square-foot than the rest of the bookstore. If you’re not able to do either of these, talk to nearby café owners about joint promotional events, like inviting an author for a reading or offering coupons when a customer visits both locations.
Hire the Right Staff
Finally, you need to hire the right staff. What does this have to do with inventory? The right staff knows, generally, what books are offered in the store. More importantly, they know how to find the right book for the customer and how to make recommendations that will land a sale. Plus, they can help out with moving inventory. This is where the hand trucks come back in: Employees need to be efficient in packing, moving, and unpacking inventory, but not at the cost of back strain.
About Magline
Magliner hand trucks are legendary. The Magline brand is one of the most well-known and trusted in the material handling industry. Many people call any hand truck a “Magliner” regardless of the actual brand, but there is no substitute for the quality and durability of the real thing. With more than 70 years of experience, Magline continues to produce the most reliable material handling equipment. Besides their famous hand truck, they produce a variety of specialized equipment such as the stair climbing cart, walk behind forklift, and u boat cart. For bigger jobs you can use motorized versions of many of their products.
To find Magliner products for your bookstore, visit Magliner.com
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