Bob CollinsGarrison Keillor has sold his bookstore, MPR’s Euan Kerr reports, and if you’re at all like me, your first reaction is likely, “why would someone buy a dinosaur like a bookstore?”
Nicholas Ballas, 58, doesn’t exactly answer the question of how he’s going to make money in what is reportedly a dying industry, thanks to Amazon.
“I started looking at the business and ended up liking what I saw and then buying the bookstore,” said Ballas, whose background suggests he may have a few bucks to risk on the venture.
The Pioneer Press says business at the store has declined since Keillor stopped spending much time in the place.
The challenge seems to be clear to literary-minded folks: Support local bookstores or watch them die and, oh by the way, don’t bother lamenting something you helped cause.
This morning on Twitter, a bookstore in Lawrence, Kansas provided a glimpse of just how ruthless the online booksellers are.
When we order direct from publishers, we get a wholesale discount of 46% off the cover price. The book in question had a cover price of $26.99, meaning our cost for that book from the publishers would be $14.57. If we sold it for $15, we'd make . . . 43 cents.
— Raven Book Store (@ravenbookstore) April 17, 2019
The biggest (and cheapest) online booksellers have lots of other revenue streams that are MUCH more profitable than books, so they can stand to lose money on books. They also most likely get better discounts from publishers because they sell at higher volume. Fair enough.
— Raven Book Store (@ravenbookstore) April 17, 2019
➡️feeding and taking care of store cats that you can take pictures of and pet
➡️creating a safe and comfortable space for you to spend an hour or two
➡️working to support the local authors where you live
➡️hosting open mics etc. so emerging artists have a platform
➡️paying taxes— Raven Book Store (@ravenbookstore) April 17, 2019
But we will say: we feel a responsibility to use our platform to educate people about this stuff. If you've ever wondered why it seems like "there are no bookstores anymore" or why retail businesses keep closing in your downtown, this is it. A cheap book still has a high cost.
— Raven Book Store (@ravenbookstore) April 17, 2019
Sure, a local bookstore is a business, but when an owner — especially a new owner — shovels sand against the economic tide, it stands as a challenge to the rest of us: are we willing to do anything to keep local businesses and industries in our community and if so, what?
Ballas says he’s keeping all the employees, changing the name of the place to Next Chapter, and considering selling books online.
