By Tope Babatope
N150,000 and above.
Estimated earning: High income
Advertising: Sign board, complimentary cards, word of mouth, books display, personal contact
Why it’s a good business:
Bookshop business is a worthwhile one. Going by the popular saying within Ondo state and outside that Education is the industry of the sunshine state meaning that anyone who sets up a bookshop is out to make some cool money because of high demand for books by the increasing number of pupils and students in the state .
Bookshop business can come in different forms depending on the area you want to go into, probably by going into Christian book sales such as Christian literature, bibles,and other daily needs that meet ones religious inclination .you equally have the opportunity of either to go into stationery selling only or you are for primary schools’ text books or secondary and university books alone or combined books stuff. This however depends on ones interest.
It does not demand a very high academic qualification but the person starting the business must be energetic and ready to meet challenges . A good knowledge of sales is needed for adaptability in the business.
Equipment / Materials:
Accommodation (shop), carpet, fan, shelves- wall or standing shelves, tables and chairs, text books, stationery – biros, pencils, rulers etc. religious books, Christian literatures, calculators etc
The person starting the business may employ somebody as sales clerk joining him or her to kick off.
For a starter, bookshop business does not require a large space or big shop before you can make a good living . A moderate shop with a size of a standard room will be appropriate to set you on, having corridor or frontage space will be an added advantage. An investor with as little as N100,000 will make his presence known in the market. Get an accommodation of about N20,000 per annum,furniture of about N8000, buy books worth of N50,000, you can even start with stationery alone. With the above, you are in a good position to start. Our source in Akure stated that for a person willing to start with Christian books, especially Christian literatures he may not necessarily start with big bibles which may be very costly. It was learnt that with N30,000 an investor can start selling pupils and students literature books, pencils, biro , rulers,etc. Our source disclosed that the profit on stationery is high if the person is a discipline person.
Business start up leant that with N40,000 or N50,000 one can get good stationery materials .With N 50,000 to Agbeni market in Ibadan you will get good stationery items that could be consumed within the shortest time even when you invest this on Christian books.
According to the bookseller,depending on the location, Christian books also move if you can invest heavily on it, because with just N50,000 to N60,000 it may be difficult to really know the value of the books on the shelves.
Speaking on the methodology in calculating ones gain, the source explained, “when you purchase,
stock them, get an exercise book, rule out under the headings, price at which you bought, retail price, expenses columns- transportation , food, fares incurred during travelling etc. from these you will be able to calculate the gain you make from every trip”
You can own bookshop and the same time do another business but when such happens, you must you need to employ a salesgirl or boy to look after the shop .
Bottom Line Advice:
Our source advised that gains from the selling must be saved as it comes so that you don’t spend the little gains from the daily needs sold. He explained that for an investor to sustain the business he or she must be a disciple and well focused person. It is necessary to cultivate the idea of cross checking every month on your sales to ensure accountability and you to be in business.