Hello!
My boyfriend (32) and I (28) dream of opening a bookstore in the UK. We both work for very small, independent and successful bookstores in London and have both managerial, business and buying skills. We just have no capital as we’re two humble booksellers and, as you might know, it’s not a job that pays well. Ideally, we would like it to be a mix of fiction, non-fiction, children’s and comics, plus secondhand and a bar with homemade cakes, sandwiches, tea and coffee.
I can’t find detailed information online on what steps to take and we’re not eligible for grants as far as we know. What do you recommend? What should we do first?
Thanks 🙂
by Saragreen1995
5 Comments
You have no money and want to start a business. Probably shouldn’t start a business.
I haven’t used them but the British library has a range of [services](https://www.bl.uk/business-and-ip-centre?gclid=CjwKCAjw7c2pBhAZEiwA88pOF-TD33_UkxN2wY2Otd9M3nvqz1Gyh_ypJUVVNZ1yuGa8B3tDgYAYpRoCQHYQAvD_BwE) to support small business owners.
You’re right that the lack of capital is your main limiting factor. You could try to find business partners or investors to help with the start-up fees; a close family member of mine opened a restaurant by teaming up with four other members of his church and pooling their resources.
Or you can draw up a detailed business plan and pitch it to your bank to see if they’ll give you a loan.
I’m sure there’s many other ways to make this work but those are just the two jumping-off points I’m familiar with based on personal experiences and acquaintances. I like the idea and wish you both luck!
If you’ve never managed a restaurant before, you should get someone with experience to handle the cafe part. It’s whole other can of worms.
That’s a big gamble. Be sure to have a solid business plan, else you won’t get the needed loans. You can run a business on love for books. But I hope you make it, that sounds romantic. Those are typically the shops I frequent on holidays.