Bookstore Executive Summary
TY’s Bookstore is a newly established bookstore located in Portland, Oregon. It sells books of all genres, bookmarks, notebooks and journals, calendars, puzzles, and a selection of board games. TY’s Bookstore will be located within walking distance of the University of Portland. TY’s Bookstore will target all residents of Portland, particularly those with a fond appreciation of literary arts.
TY’s Bookstore is solely owned by Thomas Young, an author who has amassed an immense collection of books and wants to share his love of books with the greater Portland community. As an author himself, Thomas wants to support other authors by having a rotating “Author of the Month” where he will prominently display their book and hold an author book signing where they can discuss their book publicly and be available to meet and socialize with fans at the store.
TY’s Bookstore will also hold a Book Club, where people can gather weekly to discuss select books that the club chooses to read. The Book Club will read a different book weekly and meet to discuss their thoughts at TY’s Bookstore. Thomas believes that by keeping his clientele engaged, it will lead to greater customer loyalty and frequent book sales. The Book Club will have a membership subscription service that allows members to be billed monthly and TY’s Bookstore will mail the member the book that will be discussed the following week.
The following are the products to be offered by TY’s Bookstore:
- Books of all genres
- Children’s books
- Young adult books
- Notebooks and journals
- Small selection of board games
The customer focus for TY’s Bookstore will include all residents of Portland, Oregon. While the close proximity to the local university will bring in college students and staff, Thomas also hopes to bring in families and residents from all walks of life to the bookstore.
Thomas will manage the day-to-day aspects of the bookstore, as well as hire and train employees. He will also hire an assistant manager to manage the administrative portion of the Book Club. Thomas will also coordinate the bookstore events, such as the Book Club schedule, Author of the Month, and Book Signings where certain authors will be featured.
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TY’s Bookstore is primed for success by offering the following competitive advantages:
- Wide selection of new books and large selection from independent authors.
- Competitive pricing that can undercut the competition.
- Book club subscription service that offers members the chance for a weekly book to be mailed directly to their home or available for pick up.
- Will support emerging independent authors the chance for their book to be displayed and have book signing events for them.
Thomas Young is seeking $100,000 in debt financing to open a bookstore in Portland, Oregon. The funding will be dedicated for product inventory, leasehold improvements, working capital, and three months of payroll. The breakout of the funding is below:
- Bookstore design/build: $50,000
- Opening inventory: $30,000
- Working capital: $5,000
- Three months of payroll: $15,000
The following graph below outlines the pro forma financial projections for TY’s Bookstore.