So, on occasion I’ve had folks express their concern about the way we handle our Trade Credit. I realize that many of the stores in the area will allow only trade credit to go towards Half of the total purchase amount. From a business standpoint this does seem like it would make sense because then the store always receives cash from a sale. However, our Booklover’s Bookstore in Fort Collins was never ran that way.
When we bought Booklover’s, a person’s trade credit was good for the entire purchase amount. Naturally, trade credit isn’t usable towards new books or non-books items (things that we have to pay cash to bring into the store), but used books are brought in on trade so they can go out on trade.
I think it was during the first month of being open, in August, that I’d had a number of people express their serious concern over our trade credit policy. This was prior to me having a blog or even seriously considering starting one. I did however write a response to these concerns that I’d never posted anywhere except to show my boyfriend. So here is my response that I had written and is still more than applicable to today…
~~~~~~~
Although my family and I have had our noses in the book business for a number of years now, we still weren’t quite sure what to expect when we opened up the second store. When my family purchased Booklover’s Used Bookstore it had already been up and going for 4 years so it had an established clientele and more folks were still finding it every day. For the new store, we realized that we would have to start from scratch and do our best to let people know about us, where we were, and how we do business.
For my part, I’ve tried to contact local businesses, attend what networking events that I can make it to, but mostly… I focus on being myself, welcoming people to the store, and trying to find the right book for the right person. I suppose that my main focus is on the customer service aspect. I trust that my family’s store has been doing well not *just* because of how they handle the numbers and shelves of books, but because of the quality of service we’ve always tried to uphold.
I will be the first to admit, that our trade policy does seem like it would be something that would crumble beneath it’s own weight. I remember asking my Mom how it was that we managed to stay afloat when customers could use all of their trade credit towards a purchase (and very often do). Somehow it just seemed counter-intuitive to “good business” practices. At this point in time, I was let in on the secret…
She doesn’t know either.
Neither of us are business majors nor have we ever taken even a single business class (guess I forgot to take those at CSU…), so making projections based on numbers and whatnot just isn’t our forte. What we do know, is books and how to enjoy what we do. To be quite honest, and perhaps a little cliche, if I can make someone’s day better just by them stopping by the store–then I feel that I’ve done my job. Whether it means that they’ve bought a book from me or not.
Many a time I’ve offered to hold books for someone–after they’ve just found the store, chosen a handful of books, and let me know that they have ones to bring in. That way, I can hold the books they found until they bring in the books for trade and then purchase their new finds. Perhaps it would make more “business sense” for me to cash in on a first-time sale, but… I’d still rather offer to do everything I can to help out my customers. If I didn’t offer to hold the books, I would feel that I were trying to ‘cheat’ them.
I guess what I’m really trying to get to in a round-about sort of way… is that I know many people have expressed their concern to me that our trade policy just won’t hold up to actual business practices. They very kindly don’t want to see us go under and I really, Really appreciate that fact. I just know that my Mom’s store has been doing it this way for nearly 10 years and I will do everything I can to keep my store running the same way.
We didn’t know what we were getting ourselves into by opening the second store and I don’t think that there would have been any real good way of preparing ourselves. I’m resigned to the fact that if we were to ever open a store elsewhere down the line, it will be just as much of a mystery as this was. I’m thoroughly enjoying my time in Broomfield, though. The people are wonderful… all of our supporters are fantastic. The reason that I really do appreciate the concern that’s been expressed to me is because that means that you do really want us to stay and do well here. That means the world to me and encourages me to do all the more to make sure that the store does well.
I think the best thing for anyone, including myself, to do in support of the store right now–is to tell other people.
~~~~~~~
Since it’s now been a few months since I wrote this and much has happened in the meantime, I have managed to do quite a bit more than just tell people and poke around on Facebook. This blog is evidence of my “branching out” along with Twitter and even all of the events that I keep setting up for the store.
I’ve realized that I don’t want to have Calico Books be “only” a used bookstore… it’s a place for people to come, relax, browse, chat, or even meet up with friends. The restaurants next door are wonderful to stop at and I can go through your books in the meantime. I’m still working on setting up the website so that there can be a section for ‘interactive book reviews’ so that anyone can post a review and others can comment on it. I thought that might be a great resource for the Book Community.
I also want to get in touch with Broomfield High School and see if they’d like to send artwork from some of their classes to be hung on my walls and to even be fore sale if the artists would like. This way the aspiring visual artists can also have their work showcased. Things like this is also why putting up a “Community Board” was one of my major priorities.
I hope that as the days, months, and years go by Calico Books can be an integral and active part of the Community. Both the Brick-and-Mortar store and our online efforts as well.
Like this:
Be the first to like this post.