Help navigation
- Tuesday, 18 June
Log in to TheBookseller.com
News
-
RELATED STORIES
-
Authors feature in Queen's Birthday Honours
Women's prize for ficti...
-
Poulter sparks BA debate on terms
A debate over how much publ...
-
Book Tokens reveals rewards programme
National Book Tokens is lau...
-
Maher made Stanfords m.d.
Tony Maher has been appoint...
-
WHS quarterly sales down 5%
WH Smith has reported a tot...
Buyers slow to come forward for independent shops
17.10.11 | Lisa Campbell
At least 22 independent bookshops are currently for sale in the UK, with the recession, the climate of the bookselling market and the refusal of banks to lend money all being cited as causes for fewer properties exchanging hands.
The bookshops on sale range in price from £10,000 for a book and card shop in Preston to £175,000 for a bookshop in North Yorkshire.
David Mainwaring and his wife Barbara have run Books Plus in Penzance, Cornwall, for nearly 20 years, and have decided to sell up as they approach retirement. Their bookshop has been on the market for eight months.
Mainwaring said he considered the number of shops on sale "very high" and believed there were a variety of reasons. He said: "Number one, nobody is buying, so the number of stores up for sale is increasing; and number two, the recession isn't helping—but it is probably worse for bookshops because of the negative press surrounding the rise of e-books and competition from Amazon, which is going to put off a potential buyer."
Some of the bookshops The Bookseller spoke to have been on the market for several years, including The Guisborough Bookshop in north Yorkshire, owned by Les Conroy, which is on the market for £125,000. Conroy, who has owned the outlet for 30 years, wants to retire. He said: "Thirty people have asked about it, half a dozen have spoken to me, but when it comes down to the crunch they cannot raise the capital. Banks aren't lending money—people are frightened of what is going to happen next year in the economy."
However, a business broker who preferred to remain anonymous said he had sold a bookshop in Scotland after just a month on the market, and said the viability of the individual shop and its local surroundings were also crucial factors in securing a sale. He said: "It's true that it's a tough market out there, but there are a lot of people passionate about physical books, and if you are selling at the right price to the right person, that's all that matters."
Across print and online The...
Competitive + Commission
TheBookseller
©2012 Bookseller Media Ltd rights reserved.
Comments: Scroll down for the latest comments and to have your say
By posting on this website you agree to the Bookseller comments policy. Comments go direct to live please be relevant, brief and definitely not abusive. Report any "unsuitable comments by clicking the links"
Sort: Oldest first | Newest first | Readers' most recommended
The prospects for selling any stockholding high street business, not just bookshops, is virtually nil in the present economic climate.
In many instances the business has "negative equity" and you will literally have to pay somebody to take it over ; to my knowledge freehold properties are being sold discounted, and leases assigned without premium, then any shop stock liquidated virtually regardless of cost(loss) once the property liabilities are out of the way.
I had mine for sale for 6 months when approaching the end of my last lease. 8 general enquiries but nothing solid. managed to talk the leaseholder into a 6 month extension, just to get past the best period.
it was up for. FREE. just the stock to buy, and even that at a HUGE discount.
I took the advert down, and shall start that same huge discount to the customers in 3 weeks. leading upto xmas and through January. then I amy just leave the doors open so they can take the rest.
I would do this now but im worried when i come the next morning there will be MORE books than when i leave as more people want to sell me books than want to buy them.
I have a very steady and loyal set of customers, but im afraid they dont get me enough to cover the bills, a staff member AND me.
I could tell you of 3 that have changed hands since the end of September and several more this year so it's not all doom and gloom.
125,000 for a business Mr Conroy has put his heart and soul into for 30 years isn't much, is it ?
Depends on the profits he's made?
Probably not that much.
depends more on profits making now.
3 years ago we were making 35k, in cluding paying 1 full time staff member, that staff member now on 3 days a week, and we are bearly breaking even.
past performance means nothing in this industry, because the owners of the products THE PUBLISHERS, are happy to sell it to amazon / supermarkets / others at a price which they can then sell on for AT A PROFIT, that an indie can buy at from them as a customer - cheaper than they get from a wholesaler AND EVEN CHEAPER THAN THEY CAN GET IT FROM THE PUBLISHER DIRECT - AND WAIT A WEEK FOR SUPPLY !!
The prospects for selling any stockholding high street business, not just bookshops, is virtually nil in the present economic climate.
In many instances the business has "negative equity" and you will literally have to pay somebody to take it over ; to my knowledge freehold properties are being sold discounted, and leases assigned without premium, then any shop stock liquidated virtually regardless of cost(loss) once the property liabilities are out of the way.
I had mine for sale for 6 months when approaching the end of my last lease. 8 general enquiries but nothing solid. managed to talk the leaseholder into a 6 month extension, just to get past the best period.
it was up for. FREE. just the stock to buy, and even that at a HUGE discount.
I took the advert down, and shall start that same huge discount to the customers in 3 weeks. leading upto xmas and through January. then I amy just leave the doors open so they can take the rest.
I would do this now but im worried when i come the next morning there will be MORE books than when i leave as more people want to sell me books than want to buy them.
I have a very steady and loyal set of customers, but im afraid they dont get me enough to cover the bills, a staff member AND me.
I could tell you of 3 that have changed hands since the end of September and several more this year so it's not all doom and gloom.
125,000 for a business Mr Conroy has put his heart and soul into for 30 years isn't much, is it ?
Depends on the profits he's made?
depends more on profits making now.
3 years ago we were making 35k, in cluding paying 1 full time staff member, that staff member now on 3 days a week, and we are bearly breaking even.
past performance means nothing in this industry, because the owners of the products THE PUBLISHERS, are happy to sell it to amazon / supermarkets / others at a price which they can then sell on for AT A PROFIT, that an indie can buy at from them as a customer - cheaper than they get from a wholesaler AND EVEN CHEAPER THAN THEY CAN GET IT FROM THE PUBLISHER DIRECT - AND WAIT A WEEK FOR SUPPLY !!
Probably not that much.