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Torbay Bookshop up for sale
01.01.70 | Graeme Neill
The owners of the Torbay Bookshop, the Paignton based independent bookseller, have put the shop up for sale after almost 20 years trading. Co-owner Matthew Clarke said it was the right time to sell the business, with he and co-owner Sarah Clarke wishing to concentrate on their buy to let business. He said he was seeking around £470,000 for the business, including the building.
He said: "A number of years ago, we employed a business coach to help improve our business and was intrigued by one of his observations in running an independent business. His recommendation was as soon as you open your business, you should make plans or have some idea of when you are going to sell it.
"An exit strategy is something Sarah and I had never considered but with most independents closing because of ill health, retirement or going bust, the advice made great sense. So 2012 was chosen and we've been working towards that date to leave the business for the next owner in a healthy state."
The Torbay Bookshop opened in the Devon town in 1993 before relocating to new purpose designed premises in 2002. The shop won the Bertrams Independent Bookseller of the Year award at The Bookseller Retail Awards in 2006.
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Logging many years in the publishing industry is a hard earned professional path. Whether selling books, offering newspaper/magazine printing, or promoting authors, one must hustle and have self-motivation in an adaptable environment(e-content anyone?)As tough as it is to remain in the publishing game, it's even more difficult to thrive. Thus, congrats are in order to the Torbay Bookshop for twenty years of providing a place where people can enjoy a good book. Best of luck in your future endeavors, and may the new owners follow in your footsteps.
I'll be really sad to see it go. I did my work experience there last year and had the time of my life! If I had the money, I would genuinely buy it and keep it running!
What a pity. We have so few good bookshops left that we can ill afford to lose another.
All we can do is hope that it is sold as a going concern and that the new owners have the same enthusiasm and knowledge - although that would be difficult.
Good luck in the future, Matthew and Sarah, and thanks for the support.
I'm surprised it took so long into the 20 years of owning the bookshop to learn about exit strategies.
David, Rising Damp in our properties! How very dare you! Good to hear the B&B is successful and we might well have the time in the future to come over to receive your renowned hospitality.
Matthew, thank you for setting me straight!
Well Matthew you've certainly made your mark which doesn't surprise me, but I'm surprised that you didn't go into it with the aim of flogging the bejesus out of it! One thing I've learned from my days in independent companies is that very few survive, and many invest too much time and money and then don't attempt to sell at the right time.
Here in leafy Woodstock VT we are ALWAYS open to discussions from parties who might like a lifestyle change...50% profit margin very achievable and virtually no stock holding. Now you see why we didn't go into Bookselling! However I can think of no better time to invest in a good independent bookstore, with letting apartments to boot! However the idea of you being a full time 'Rigsby' is a surprise! However like him...you are also folically challenged, thus I deduce made for the role! May in future your spanners always be at hand, and when you flog the shop...have a break and come and see us!
The property is freehold with two apartments generating £13,200 a year. Your quite right'independent bookseller'. If it was just the business for £470,000 the turnover would be stratospheric!
£470K? To make a return on an investment like that their turnover must be stratospheric and their margin better than any bookshop I've ever come across. For that much you could buy a few of the smaller branches of Waterstones. Good luck to them, I suppose.
£470K? To make a return on an investment like that their turnover must be stratospheric and their margin better than any bookshop I've ever come across. For that much you could buy a few of the smaller branches of Waterstones. Good luck to them, I suppose.
The property is freehold with two apartments generating £13,200 a year. Your quite right'independent bookseller'. If it was just the business for £470,000 the turnover would be stratospheric!
Well Matthew you've certainly made your mark which doesn't surprise me, but I'm surprised that you didn't go into it with the aim of flogging the bejesus out of it! One thing I've learned from my days in independent companies is that very few survive, and many invest too much time and money and then don't attempt to sell at the right time.
Here in leafy Woodstock VT we are ALWAYS open to discussions from parties who might like a lifestyle change...50% profit margin very achievable and virtually no stock holding. Now you see why we didn't go into Bookselling! However I can think of no better time to invest in a good independent bookstore, with letting apartments to boot! However the idea of you being a full time 'Rigsby' is a surprise! However like him...you are also folically challenged, thus I deduce made for the role! May in future your spanners always be at hand, and when you flog the shop...have a break and come and see us!
Matthew, thank you for setting me straight!
David, Rising Damp in our properties! How very dare you! Good to hear the B&B is successful and we might well have the time in the future to come over to receive your renowned hospitality.
I'm surprised it took so long into the 20 years of owning the bookshop to learn about exit strategies.
What a pity. We have so few good bookshops left that we can ill afford to lose another.
All we can do is hope that it is sold as a going concern and that the new owners have the same enthusiasm and knowledge - although that would be difficult.
Good luck in the future, Matthew and Sarah, and thanks for the support.
I'll be really sad to see it go. I did my work experience there last year and had the time of my life! If I had the money, I would genuinely buy it and keep it running!
Logging many years in the publishing industry is a hard earned professional path. Whether selling books, offering newspaper/magazine printing, or promoting authors, one must hustle and have self-motivation in an adaptable environment(e-content anyone?)As tough as it is to remain in the publishing game, it's even more difficult to thrive. Thus, congrats are in order to the Torbay Bookshop for twenty years of providing a place where people can enjoy a good book. Best of luck in your future endeavors, and may the new owners follow in your footsteps.