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Your Author Business Plan: A Framework for the Creative Entrepreneur

by Kimberley Grabas

Does the thought of writing a business plan make you wince?

You’ve been struggling valiantly through most of the non-writing, left-brained activities that have been thrust upon you as a modern writer – do you really need to go through the formality of crafting your “executive summary”, “sales forecasts” and “market analysis”?

Well…yes. (sorry)

But if you’d prefer to skip the spreadsheets in favour of a more “writer-friendly” planning process – because deep down you know you could use a bit more direction to move your writing career to the next level – you’re in luck!

I’ve designed this business plan framework with the creative entrepreneur in mind.

Yep, it’s still a business plan.

But I’ve tried to soften the corporate jargon, as well as give you ideas as to how you can use each section to grow your writing career.

I’ve also created a free downloadable workbook to guide you through the process and that you can complete at your own pace:

Click the image to download your free 30-page Author Business Plan workbook:

Prioritizing Your Business Plan To Get The Most Out Of Your Writing Career

It’s time to overcome your resistance to the idea that, as an author, your job is no longer just to write (if it ever was).

If you want to turn your passion for writing into a business, you’ll need to have a solid and strategic plan in place.

And a b usiness plan is simply a guide to what you hope to accomplish, how you plan to meet those objectives, and your financial projections based on these efforts.

It’s a field guide to your writing business – that you navigate with your readers in mind.

Here’s what you can expect a thorough business plan to help you accomplish:

It will help you to

• clarify and articulate a clear vision for your writing career, which will help guide your business actions and decisions
• nail down the specifics of what you need to get done to move your business forward
• share your strategies, priorities, and specific action points with others (agents, assistants, collaborators, or even your spouse)
• recognize and filter out the distractions, so you can concentrate only on those activities that will help you grow
• determine future needs ahead of time (software, skills, tech, or other resources) so that you can plan for the cost or time expenditure
• beat inertia and take confident action on those things you’ve determined will move your business forward
• notice opportunities to reward yourself for both small accomplishments and big wins

One of the most important (and often ignored) steps to effective goal setting and increased productivity, is to write your goals down and review them daily . This can be a game changer.

By dedicating the time to write your business plan – and review it frequently – you can change the trajectory of your writing career.

Developing Your Author Business Plan: The Key Components

Whether you are working toward a traditional publishing contract or self-publishing, a carefully crafted business plan will help you establish a plan of action, and guide how you will allocate your (often limited) resources.

A. BUSINESS VISION + AUTHOR BRAND

1. Mission Statement (Message)

Clarify your business values and vision. Define why you write and get very clear on the essence of your work–what problems are you solving or what desires are you satisfying? What is your promise to your reader and how will you deliver on that promise? (You can also include a “vision statement” that inspires you, and is a reminder of your purpose and your commitment to your writing career.)

2. Your Ideal Reader

Identify and define the group of people whom you wish to reach. How do they see themselves, and how does your work fit with that perception?  Who already ‘speaks your language’ or conversely, whom does your work speak to? We’ll be digging deeper into this in a later section of the business plan, so the information you gather will help to create a succinct description of your ideal reader here.

Related Content:  Identifying Your Target Audience: The Top 8 Mistakes Writers Make

3. Brand Personality and Culture

What is your brand story and personality? What do you want people to feel or experience when they read your book, a post on your blog, or see you speak at an event? What tone, colors, and visuals characterize your writing, and how does your branding reflect the purpose or message behind your work? What values, standards or best practices will you adhere to? What can your community of readers consistently expect from you in terms of your style, authenticity, voice, and professionalism? Make sure that your branding is relevant to the audience you seek, distinct and meaningful.

Related Content:  Discover and Build Your Author Brand

4. Career Goals, Objectives, and Expansion Plans

Many people do not even think of goals, and of those that do, very few write them down. Forbes reports a remarkable 10-year study about goal-setting carried out in the Harvard MBA Program.  Those students who wrote down their goals accomplished significantly more (i.e., earned on average, 10 times as much as the other 97 percent of the class combined). So write down your goals and objectives. Make sure they’re both S.M.A.R.T and what you really want. Are you willing–and able–to sacrifice the time and effort required to achieve what you’ve outlined? How will you determine your success?

B. BUSINESS DESCRIPTION + PUBLISHING PLAN

1. Your Difference

This is your secret sauce or unfair advantage. Describe who you are as a writer, and how you will portray that uniqueness to your audience. How do you solve their problem or desire and why is it valuable to your readers? The goal here is to answer the question in your reader’s mind, “Why you?”. What sets your work apart from others in your genre or niche? Develop your “brand story”.

Related Content: How to Build Your Brand From Scratch (And Why You Need To)

2. Who Do You Serve

Describe your target audience (demographics, psychographics), and how you can help meet the needs, wants, and desires of that specific group. Often writers make the mistake of working on their projects in a vacuum – with no feedback, input, or even acknowledgment of the reader. Another conundrum authors face, is writing in multiple genres, which makes building a community even more challenging. Note if either (or both) of these are concerns you face, and how you will address them going forward.

Related Content:  Thinking About Writing in Multiple Genres? Here’s What You Need to Know

3. Production

In this part of your business plan, include your writing, editing, and publishing schedule. How many words per day will you write, and at what times? If editing, how many hours per week will you devote? How many books do you plan to publish (and launch) this year? How often will you post new content to your blog or social media? Also note your genre focus, project lengths, and additional projects (workshops, courses, presentations, etc.) you plan to produce per year.

4. Business Structure

What is your writing business structure (sole proprietor, publishing company, or LLC, for example)?  Are you traditionally published, self-published, a hybrid author, or not yet published? Describe the components of your business, like books (digital, print, audio), courses, seminars, workshops (in-person/virtual), speaking, and so on. Is your business primarily online or offline?

5.   Business Tasks + Schedule

It’s important that you treat your writing business as a business . So make a list of regular tasks (everything from sales tracking and accounting, to editorial calendars and words written per day), and add them to your calendar, Asana , your day planner, or whatever system works for you.

6. Distribution Channels

You’ve defined your audience, so now you need to determine how they want to be reached. Where are they already and what are other ways that they will find you? Think social media, email, traditional media, video, podcasts, conferences and events, website, clubs, Amazon and other retailers, and so on.

Click to download your free 30-page Author Business Plan workbook :

C. MARKET ANALYSIS

1. Bestselling Authors/Comparable Titles in your Genre or Niche

Identify bestselling authors, top bloggers, and other influencers in your niche or genre. Look for those that already have the audience you want to reach (search through social media, relevant keywords, Facebook, and other groups). Who are the movers and shakers? The up-and-comers? Start making a list, including their contact info, website, and email. (These people may also become your partners and allies in the future.)

2. Pricing Models

What pricing model(s) are currently being used in your genre or niche? What are readers used to paying for books, products, or services similar to yours?

3. “Competitor” Strengths and Weaknesses

Choose 3-5 authors from the list you made in section C. 1., and break down their strengths and weaknesses. How do they reach and promote to their audience? Are there any strategies that many of your competitors seem to use (for example, are most of them using email marketing strategies)? What are they doing well and what can they improve? What can you add to the mix that draws upon your unique skill set and brand? Use this knowledge to craft your own, well-rounded strategy.

4. Trends and Opportunities

Note current events and what’s new and noteworthy in the publishing world. Note predictions and future trends that may impact your writing or bottom line. Are there any collaboration or partnership opportunities that you wish to pursue, both within your topic area and with industries or businesses that reach the same audience as you?

D. AUDIENCE RESEARCH

1. Identify Your Ideal Reader

Knowing your target audience has come up several times in this business plan–and for good reason. It is absolutely vital to the growth of your writing career to have a firm understanding of the audience you wish to reach. This section of your business plan informs the other sections, and it’s where you will get crystal clear on who your ideal readers are through research and data (not through guessing or assumptions). (Follow the link below for instructions on how to create an ideal reader persona.)

2. Understand Their Needs and Desires

Your goal is to understand and articulate your readers’ problems or desires better than they can themselves. But remember, this is their most pressing problem or desire, not yours.  Don’t try to create desire or interest where there is none. Outline how you will share your work in a way that encourages people who are already interested, to take action. (To gain a deeper understanding of your audience, spend time and ask questions of your “real” readers, engage in “social listening”, conduct surveys and examine your Google Analytics.)

3. Differentiate Yourself and Your Work

Given what you now know about your target audience, what is the intersection between your unique talents and your readers’ needs or desires? What can they get from you and your work that they can’t get anywhere else?

4. Determine How to Engage With Your Readers

It is much, much easier to create interesting, relevant, and valuable content for your audience now that you know exactly what they are searching for . You can’t possibly develop a marketing and book promotion plan when you have no idea who might be most receptive to your message. How will you learn (and continue to learn) about your readers, but still stay connected to the reasons for creating the work that you do?

E. COMMUNITY AND PLATFORM BUILDING

1. Social Media Plan

What are your (and your readers’) preferred platforms? Where will you place your emphasis and what strategies will you use to develop visibility and interest for your writing? What will you share, how will you create it, when will you share it, and where will you share it, to get the most engagement? (Create a specific plan for each social media platform you’ll engage on).

Related Content:  Social Media Strategy for Authors Plus 4 Tweets to Never Send

2. Email List Building Plan

Developing a responsive email list is one of the most important things you can do to grow your business and stay connected with your readers. What strategies will you implement to grow your list? How often will you communicate with your subscribers, what will you share and what opt-in incentive will you develop to encourage sign-ups? 

Related Content: The Writer’s Guide to Building an Email List

3. Content Strategy

A content strategy is your publishing plan of action for what to create , how to create it, when to create it, and for whom to create it. Develop an editorial or content calendar to map out and keep track of your content plan o’ action. Ensure your “brand story” is woven into the content you share.

4. Speaking, Appearances, and PR Plan

Keynote speeches, personal appearances, and other speaking opportunities all allow you to connect with your readers and fans in real life . Add presentations, interviews, and other appearances you have booked (or plan to book) into your business plan. What strategies will you implement to increase bookings?

5. Reviews, Testimonials, and Endorsements

What steps will you take to encourage reviews (ARCs, email requests, build relationships with influencers, and book bloggers)? How will you gather testimonials and endorsements for your work? Keep in mind that relationships take time to develop, so ensure you include steps to build these connections and goodwill before you ask for something in return.

Related Content: How to Get Reviews For Your Book (Without Begging, Bribing, or Resorting to Subterfuge)

6. Engagement + Exclusivity

How will you ensure your readers feel special? Will you offer special perks, bonuses, and a sneak peek behind the scenes? Or, create a street team or other type of “membership” for your most avid supporters? How is what you have to offer different from other authors in your niche, and how can you add more value? 

7. Networking and Relationship Building

Who are people talking about, sharing content from, and influenced by? What strategies will you use to develop relationships with industry influencers, advocates, and supporters of your work? How do you plan to build connections with organizations, institutions, schools, bloggers, reviewers, businesses, and media outlets? 

F. OFFERINGS + MONETIZATION

1. Your Products and Services

What will you offer to your audience? Books (digital, audio, print, series, bundles), services (speaking engagements, teaching at conferences, and hosting workshops) courses, freelance work, or other products and programs that relate to your work? How will your readers benefit? How will it impact their lives? Given what you’ve discovered about your target audience, will they want, need or desire what you have to offer?

2. Pricing Strategy

What pricing strategy will you employ? Premium, freemium (free + premium), permafree, or discount pricing? Given your goals for your business, will your pricing strategy help you meet your objectives? Does your pricing meet or challenge genre standards? How will your target audience view your pricing? Map out your pricing structure for your books, services, courses or workshops, series, and bundles.

Related Content: Pricing 

3. Collaboration and Partnerships

Affiliate marketing, book bundles, co-writing, and cross-promotion (via email lists) are all great ways to boost your business, visibility, and sales. What methods will you use to develop partnerships and encourage collaborations with other authors?

G. MARKETING STRATEGY

1. Marketing and Promotion

In this section, outline the methods you’ll employ to market and promote your books, products, content, and brand. You’ll want to develop a separate book marketing strategy for each book, as well as an overall strategy that ties current projects together with future plans for your writing career.  

Related Content: 71 Ways to Promote and Market Your Book

2. Resource Commitment

Finding time to write is difficult enough, but your business won’t run itself. You need to schedule time and resources for both the writing side of your business and the marketing side (and then squeeze in family and personal commitments, too 😉 ). How much time, money and other resources are you prepared to realistically commit? 

Related Content:  The Big Question: How Can I Build My Platform and Still Have Time to Write?

3. Launch Strategies

Designing, organizing, and implementing a book launch action plan is not easy. There are a lot of moving parts, so it requires the careful preparation (and execution) of just the right mix of launch activities to propel your new book out into the world. Layered launch strategies (where you use the momentum from one launch to boost the next) can create urgency and excitement, and further establish your brand, message, and authority. What actions will you take to leverage the assets and relationships you’ve established through your marketing activities to promote an upcoming book?

H. FINANCIALS

1. Monthly Expenses

Make an itemized list of all the things you will need for your business to run monthly (website, hosting and domain name, email marketing service, business cards and other promotional items, office supplies, membership dues, etc.). If you are saving for some larger future expense (computer, software, cover design ), then note this in your budget, as well.

2. Monthly Revenue

Record your monthly income from all sources related to your writing business (royalties, freelance work, affiliate income, speaking, etc.). At first, this may seem like an exercise in futility, but with a solid business plan in place, you’ll soon start to see your revenue streams grow. 🙂

3. Production Budget (Per Book or Project)

Copyediting , line editing, proofreading, formatting for publishing, formatting for print, cover art, copyright registration, ISBNs, review copies, shipping, and research costs can all be budgeted on a per-book basis. These input costs will help you determine the potential viability (and profitability) of each project. If you also have a website and blog, there may also be production costs for blog posts, email newsletters, and other items (image or graphic fees, costs for giveaways, apps or software, etc.).

4. Sales + Income Projections

If you’re just starting out, creating sales projections may be difficult to do, but it’s certainly a good habit to develop if you’d like to ensure you’re making good business decisions. Forecasting is vital to planning sales, marketing, and spending. (For a free Amazon sales rank tracker, try NovelR ank.com  or SalesRankExpress.com .)

I. ADDITIONAL GROWTH + EXPANSION STRATEGIES

1. Professional Development

Your talent is your best asset. Continuing to improve upon both your writing AND your business skills, is a wise investment. Use this section of your business plan to note any classes, workshops, or conferences you plan to attend, if you plan to find a critique partner or writer’s group to join, or even add specific books you plan to read (for genre or topic research, or to gain additional skills).

Related Content: 39 Things to Remember When Struggling to Build Your Writing Career

2. Paid Advertising and Other Paid Options

Paid advertising, hiring a publicist, or anything else that requires cold hard cash upfront–without a guarantee of return–may not be on the top of your priority list. However, if you are considering some paid options, ensure you note your strategies here. Tracking your return on investment may be easier for some options than others, but it’s always wise to note your efforts and results.

3.   Repurposing

Continuously developing new content can take a lot of effort. Get more mileage out of the excellent content you produce (articles, newsletters, blog content, short stories, guides, updates, videos, etc.) by repurposing it into something fresh. You can change the format, share it on different mediums, turn a book or post into a course or workshop, and reach all new audiences. How will you stretch and repurpose each piece of content you create?

Related Content:  Create Great Content? How to Get More From It Through Repurposing

4. Outsourcing

Wise outsourcing can not only increase your efficiency and help level the playing field, but it allows you to focus on the core of your business–your writing. If you decide to outsource, determine what tasks you’ll pay someone else (editors, virtual assistants, designers, accountants, etc.) to handle.

Writing Your Author Business Plan Doesn’t Have to Be Hard

Kudos to you for making it this far! It may seem like a daunting task to compile your business plan, but I assure you it is well worth the effort.

Plus, your plan can be developed over a period of time and doesn’t have to be nailed down all in one sitting.

A business plan is fluid and ever-evolving. As new info comes in, circumstances change, or as results and analysis dictate, adjust your business plan accordingly. Remove sections from this plan that you feel don’t apply, and add sections that you feel are more relevant to your specific business needs.

Review and re-examine your plan on a regular basis to help keep yourself–and your writing career–on track.

And be sure to reward yourself when you’ve reached certain milestones and objectives. You’ll have most certainly earned it!

Questions? Comments? Please share your thoughts below.

Reading through your posts can be long and tedious, especially for people like me who always take notes. But in the end, it’s worth it. Thanks for another awesome post.

Yes, I’m nothing if not thorough… 😉

That’s why I’ve included the workbook – all the info, without the need to write it all down yourself.

This is just awesome .. Love it!!

Happy to hear it, Ashima. Hope you can put the plan to good use! 😉

Thanks so much, Kimberley! This is super helpful and so timely — my community of Queens, NY, is conducting a business plan competition with nice prize money. Glad to have your insights and guidance in the final days of preparation.

http://www.queensbooks.nyc

My pleasure John! 🙂

I was hoping to grab this fabulous download, but when I entered my email address and went through to the next page, the error message said the pdf could not be found. I thought this was because I was on mobile, but I tried several times on my PC and it still was appearing as not found.

My apologies Kieran – there is a bit of a glitch with the media file. Shoot me a quick email (Kim-at-YourWriterPlatform.com) and I’ll send it to you directly.

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Book Production Plan: Ultimate Guide for Authors

A book production plan is a detailed and comprehensive strategy that outlines the steps and processes involved in producing a book, from the manuscript's completion to the final printed or digital version ready for distribution. This plan typically covers various aspects of book production, such as editing, design, formatting, printing, and distribution, with the primary goal of ensuring that the book is produced efficiently, cost-effectively, and to a high quality standard. Here are the key elements commonly included in a book production plan: 1. **Editorial Process:** The plan begins with an overview of the editorial process, including proofreading, copyediting, and developmental editing. It specifies who will perform these tasks and the timeline for completion. 2. **Design and Layout:** This section outlines the book's visual design, including the cover design, interior layout, typography, and overall aesthetic. It may include a description of the design elements, such as font choices, chapter headings, and page layout. 3. **Illustrations and Graphics:** If the book requires illustrations, photographs, or other graphics, the production plan should detail how these elements will be sourced, created, and integrated into the book. 4. **Formatting:** Explain the technical formatting requirements for both print and digital versions of the book. For print, this may involve specifying page size, margins, and binding. For digital, it could involve formatting for e-book platforms like Kindle or ePub. 5. **Proofreading and Review:** Detail the process for reviewing and proofreading the formatted book to ensure there are no typographical errors or layout issues before final publication. 6. **Printing and Binding:** If you're producing print copies, describe the printing and binding process, including the choice of printing method, paper quality, and any special features like hardcovers or dust jackets. 7. **eBook Conversion:** For digital books, explain how the manuscript will be converted into the appropriate digital formats for e-readers and digital platforms. 8. **Quality Control:** Specify the quality control measures that will be in place to ensure the final product meets the desired standard. This could include quality checks at various production stages. 9. **Timeline:** Lay out a timeline for each phase of the production process, from manuscript completion to the final delivery of the books. Be sure to account for any potential delays or contingencies. 10. **Budget:** Estimate the costs associated with each step of the production process, including editing, design, printing, and any other expenses. This is essential for managing your project within budget constraints. 11. **Distribution and Fulfillment:** Detail how the printed books will be distributed, stored, and fulfilled to buyers or retailers. This can include arrangements with distributors, retailers, or fulfillment services. 12. **Revisions and Updates:** If your book will have subsequent editions or updates, outline how these will be managed, including revisions to the manuscript, cover, and interior design. A well-structured book production plan ensures that the book creation process is organized, efficient, and results in a high-quality product. It helps authors, publishers, and production teams stay on track and meet their goals. Whether you're self-publishing or working with a traditional publisher, having a clear production plan is essential to producing a book that meets or exceeds your expectations and the expectations of your readers.

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The 3 Pieces To An Author Business Plan

Author Business Foundations

The 3 Pieces To An Author's Business Plan

Are you just getting started with indie authorship and want to get started on the right foot by crafting together an author business plan? Or maybe you're already further along and feeling the need to get your formal plan down on paper. If so, you are definitely in the right place because this is going to be the first in a 4 part series all about crafting a business plan as a self publishing fiction author. In this post, I'm going to talk about the three different puzzle pieces that come together to give you a holistic indie author business plan.

Do authors really need a business plan?

Before I jump in, I want to address the first question you may be wondering - do I need a business plan as an indie author? And the answer is - yes!

But maybe not in the way you are thinking. It's true that as an indie author, you are an entrepreneur. You are developing products (your books) and selling them in exchange for money. And if you got into authorship because you want a career that can support your lifestyle and bring in profit, you’ll want a business plan. Many authors are VERY hard workers and still wonder why their efforts aren’t creating more success. They feel like they’re trying their hardest, but really not being rewarded. Why is this!? We’ve all heard the infamous Benjamin Franklin quote, “If you fail to plan, you are planning to fail.” And this is truer in business than just about anywhere else!

“If you fail to plan, you are planning to fail.”

- benjamin franklin.

You need to have a plan of how you will achieve success, or else your chances of doing so are pretty slim.

Now let's get back to where I said that your business plan as an author might not look how you are imagining it. All of this isn’t to say that you need to go out and spend two weeks typing up a 50 page document. Your business plan can be as simple or elaborate as you’d like. After all, we all function differently in life and our approach to our work - and any plan is better than none at all.

What to put in an author business plan?

So what is a business plan? And what should you include in one as an idea author? Simply put, a business plan is a plan of how you will run your business and how you will make money. It’s about that top-level stuff though, so as much as I love a good goal setting strategy session, that’s not what this is. When I help authors put together their business plan, there are three main components or “puzzle pieces” I encourage them to look at.

The Business Foundation

Think of this as the core of your author business. This is the part many people think of when you hear the phrase "business plan".

Your business foundation consists of your business legalities, financial processes, your core values as an author, the types of books you will write and publish, what readers you are writing for (AKA - your ideal reader ), how you fit into your market, as well as the types of avenues you will use to make sales.

This piece is important to put together because it becomes a sort of “guide” as you maneuver your way through authorship. You’ll have this important information to fall back on as you plan your goals and decide on projects to pursue.

Your Business Model

There are actually many different ways for indie authors to structure their business. Some of them include strictly writing fiction books and publishing them, while others incorporate other products and services into their business plan.

This is important to decide on because it allows you to keep your focus and avoid shiny object syndrome but it also can help you make a big-picture vision of what you want your author journey to look like.

Your Book Release Plan

The different elements you’ll want to include here are your book production process - as in what steps will you take to develop the final product - and what that ideal timeline looks like.

You’ll want to include your release strategy. How often do you plan to release a new book? Once a month? Once a year? Again this varies greatly from author to author so knowing what your plan is here can help you develop a book production schedule that helps you reach that release goal.

The final thing here in your book release plan would be to develop a pricing strategy. Will you be doing a perma-free book or reader magnet? Will your new releases launch at .99 or 4.99? What about sales prices and seasonal promos?

The book release plan is important because it saves you from simply going through your author journey winging it. You’ll know how many books you want to release each year as well as the process you’ll go through to get there.

How to create an author business plan?

There are many ways to create your business plan, depending on how in-depth you want to be. You can scribble it all out on a piece of paper in your planner , write yours out in Google Docs, or integrate it into your project management system somehow.

So that’s the general overview of an indie author business plan and the 3 pieces you need to put together - your foundation, your business model, and your release plan. Throughout the rest of this series, I’ll be diving more into each one of these to help you craft your indie author business plan.

Part 1 - The 3 Pieces To An Author's Business Plan

Part 2 - The Key Components of Your Indie Author Business Foundation

Part 3 - Business Models For Indie Authors

Part 4 - Indie Author Release Strategies

Next up in this series on indie author business plans, we’ll be diving into how to create the first part of your business plan - your business foundation. You’ll find the links to the other posts in this series above once they release.

I’d love for you to tell me in the comments - did you create a business plan for your author business? Are you working on one now? What’s something you’ve struggled with in the process?

Need help writing a business plan

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The Creative Penn

Writing, self-publishing, book marketing, making a living with your writing

Your Author Business Plan

Take your author career to the next level.

You are an author. You turn ideas into reality in the shape of a book.

You turn the thoughts in your head into valuable intellectual property assets. You understand how powerful the written word can be. Now it's time to use your words to create a business plan to take your writing career to the next level — whatever that means for your situation.

I'm Joanna Penn and I've been a full-time author-entrepreneur for almost a decade. In this book, I’ll guide you through the process of creating a business plan that will help you achieve your creative and financial goals.

It’s relevant for fiction and non-fiction authors, as well as those who want to include other products, services, and income streams. It’s also applicable whether you’re just starting out or if you already have a mature author business.

A plan helps at any stage of the journey.

• Part 1  covers your business summary and author brand, taking you through the process of deciding the overall direction for what you want to achieve and who you want to serve.
• Part 2  goes into the production process around your writing, publishing and licensing, products and services.
• Part 3  covers your marketing strategy and author eco-system.
• Part 4  goes into the financial side of your business, from mindset to revenue and costs, as well as paying yourself now and into the future.

The final chapter will give you a framework for simplifying your plan and turning it into achievable steps across a chosen timeline.

In each section, I give examples from my own business plan and there are questions for you to answer, templates, and resources that might help along the way, as well as example business plans for different kinds of authors.

There is also a Companion Workbook available in print with all the questions so you can write in that if you prefer.

It's time to take your author career to the next level. Let's get started on your business plan.

Please note: This book doesn’t go into detail on how to do the specific topics, for example, how to self-publish a book, or how to do content marketing. I cover those topics in my other Books for Authors.

Available in ebook, paperback, large print, audiobook and workbook editions

Companion workbook also available.

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For a self-published author, a business plan begins with a mission statement that will help direct your decision making at every stage of the book writing, book promotion, and book selling processes.

As a self-published author, your business plan, even a short one, will help set expectations and reach your goals. Creating a business plan requires that you study the marketplace, research a competitive analysis, and make financial projections.

If you are a one-book author, your business plan might consist of one simple document. If you are planning many books, or your book is tied to a product or service, it will necessarily be more complicated. There are many business plan templates on the web and in books that help.

Your mission and goals

Possibly the most valuable thing a business plan can do is to help you articulate your mission. Whenever you have to make a decision, you can return to your mission statement to help determine if the action you are about to take serves it. You may be tempted to skip this step and just blindly jump into publishing your book, but think it out, write it down and modify it as you become more aware of the challenges of becoming an author.

Authors have told me again and again that this step has helped give them a reality check and eased their mind about writing and publishing.

For example, why are you writing this book? Is your mission to change the world, to make money, to support your business, to leave a family legacy? Your goal may be to entertain or inform a small audience‚ a family or community‚ or a larger audience in a geographic area, profession, lifestyle, or interest group. Maybe you are writing to establish yourself as an expert in your field or to promote other products and services you offer. (Do you envision spinoff DVDs, workshops, a line of gourmet cookware?) Perhaps you are shooting for an international bestseller? It has been known to happen!

Perhaps you are among the many traditionally published authors disillusioned with the industry who are turning to self-publishing and creating your own small press. Will you use your book as part of a book proposal to try to attract an agent and publisher?

Raising funds

While it may be difficult to make a living as an author, it’s actually not all that hard to raise enough funds to create, produce, and publish your book. You may self-fund with your day job, or perhaps you’re retired with a small income. There are other ways to raise funds, too. Pre-selling is an option and crowdfunding has enabled lots of authors to finish their books and spread their message. Pre-selling is rather easier than crowdfunding, which requires lots of thought, planning, and marketing.

If you have a store on your website, you can begin pre-selling whenever you like, and you keep the profits (minus shipping and any store merchant account fees you may incur). Gumroad, Sellfy, and Selz are great storefronts with widgets that you can embed on your site to sell beta and final versions of your eBook and print book. They’re easier to use than PayPal, eJunkie, Amazon’s solutions.

Author crowdfunding

Many authors are choosing to crowdfund their work, and there are now many platforms to choose from. The most well known are Kickstarter, IndieGoGo, and PubLaunch. To explore the pros and cons of each platform, I interviewed successful authors from each of them to find out why they chose it and to get tips for you from their success. Publisher-crowdfunded platforms have also cropped up and below I describe Inkshares and Unbound. The information here is adapted from my in-depth PBS MediaShift series on author crowdfunding. [Ed. note: we also profiled Publishizer in a previous blog post.]

Kickstarter

Since Kickstarter ’s launch in 2009, more than 5.2 million people have pledged more than $900 million, funding nearly 53,000 creative projects like films, games, books, music, art, design and technology. Project creators set a funding goal and deadline. If people like a project, they can pledge money to make it happen. Funding on Kickstarter is all-or-nothing. Projects must reach their funding goals to receive any money. To date, nearly 44% of projects have reached their funding goals. Kickstarter takes 5% of the funds raised. Funders pay via Amazon Payments (only), which then will apply credit card processing fees (between 3% and 5%).

PubLaunch acquired PubSlush this year and will officially relaunch in February 2016. I don’t know how much of PubSlush’s business model they will keep, but it’s clear that their crowdfunding platform will remain focused on authors, so stay tuned. So far they promise a crowdfunding service and a vetted industry marketplace where you can find the right publishing professionals for your book.

IndieGoGo was founded in 2007 as a place where people who want to raise money can create fundraising campaigns to tell their story and get the word out. It charges 4% of the money you raise if you meet your goal or 9% if you do not.

Other good crowdfunding programs are Inkshares (San Francisco) and Unbound (in the UK). The Leanpub iterative publishing platform allows you to sell as you write your book, or to serialize your book.

Your sales strategy

Your bookselling journey may be a short one, or it might be a long, fluid, and creative process. It can sometimes take years for a book to take off, so set up good channels, good relationships, and good communities. Never stop marketing. There are many ways to sell.

POD sales. By printing and distributing with a POD service, your print book is mailed to customers on-demand when they order from online retailers in their expanded distribution program.

eBook sales. Create and sell eBooks in many formats for many eBook readers, for sales and distribution in the widest possible array of online markets.

Direct. Use your website for direct sales in your own on-line store for both print and digital books. You can sell using PayPal , eJunkie , Gumroad , Selz , Sellfy or by using any number of integrated payment systems.

Mailing physical books. Books fit nicely in a free USPS Priority Mail envelope, and a stamp costs about $5. (You can charge the customer for shipping.) Customers will receive the book in two days, which makes them very happy, especially during the holidays, and especially if it’s autographed. Do send your books priority or first-class mail. The drastically lower cost of media mail might be tempting, but it can take a very long time to deliver, and sometimes (especially during the holidays) your book is likely to arrive to the customer later than they want. It also may be damaged, as media mail bangs around at the bottom of the pile.

Retail sales. Sell to brick-and-mortar booksellers and retailers in your niche. When you sell direct to retailers, you can negotiate their discount. 40 to 50% is standard. You will probably be asked to sell on consignment, which means you won’t be paid until the books are sold.

Back-of-room sales. Take advantage of back-of-room sales at personal appearances to earn 100% of profits. At some events, you may be asked to pay a small percentage to the organization or tip a cashier.

Specialty distribution. It’s also possible to sell through specialty distributors‚ for example, someone who travels to conferences and sells books for you. Expect to discount your book 50 to 55%.

Exclusive distribution

If you’ve written a book to boost your business you may want to offload sales and distribution to a company who specializes in these tasks. These kinds of companies only take on books they think they can sell, so you’ll need to pitch them. They also take a lot of your profits, 65% and up. The most popular solution for indie authors with commercially viable projects is IPG’s Small Press United (SPU). SPU was formed as a branch of IPG’s distribution service for traditional publishers to serve self-publishers. All the authors I know who have used them like them a lot. You may also choose a specialty small press to serve as your distributor. The sooner in the book creation process you can contact them, the better. They may have valuable insights and advice on editing, design, and production.

Pricing your book

You may be tempted to calculate the price of your book based on what it cost to produce it. That doesn’t work; you really need to price your book to compete in the marketplace. eBook prices are all over the place, but are becoming standardized at 20% to 25% less than the least expensive print edition. $9.99 also seems to be a consumer-accepted price for eBooks.

Image vis ShutterStock.com .

This post was excerpted and adapted from Carla King’s Self Publishing Boot Camp guide for authors. Published with permission.

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How to Create a Business Plan for Your Books

By Hiten Vyas

You’ve heard it many times before on eBooks India, and it is worth repeating again. If you’re a self-published author selling your own books and ebooks, then you are running a publishing business. Any good publishing business worth its salt should be based upon a sound plan. This is where your business plan comes in handy.

If you’ve never written a business plan, then do what you do best (which is to write of course!) and get one completed. There are plenty of templates available online for free. The major benefit of producing a business plan is it will help you to focus.

You will have a guide of where you currently are, where you want to go in the future, and how you’re going to get there. Below are some of the key sections you would be working on when completing your business plan.

Executive Summary

The executive summary is the first page of your business plan. However, it is advisable to write it at the end. The reason for this is that the executive summary will be a brief overview of your publishing business.

Typically, it will highlight the name of your business, your background and experience, what books and/or eBooks you plan to write and sell, any progress you’ve already made, the readers you will target and projected sales and profit estimations. You will only be able to include these details in the executive summary once you’ve researched and completed the major sections of the business plan, such as those below.

About You and Your Goals

In this section, describe your background, experience, qualifications and credentials. Won any awards for your writing? If so, this is the place to state them in all their glory.

Also, describe your personality characteristics that emphasis how you have got it in you to make your book business a success. In addition, state the goals for your business; those which are short-term, medium-term and long-term. Make the goals as specific as possible, such as I will sell 10 copies of a particular title by the end of month 1 through 2 distribution channels.

Your Products and Services

Your products are your books and ebooks. If you have a plan to write 4 novels and 15 short stories over the next 12 months, then describe exactly what these will be about. Do you offer any other services, such a freelance writing and/or book editing? If so, you can state them in this section.

Remember, your readers are your customers . Have a think of exactly what type of customer you want to target with your books and ebooks. What is their age, background and interests? Where do these types of people hang out? This section is the place to explain as much detail about your customers as you can, and why you’re confident they will buy your titles.

Market Research

Do you have any plans to research whether people really will buy your book? For example, before you begin to write a book, you could carry out a survey to get the views of potential buyers and gauge their interest in your work. Write down any activities you will do, or describe any results from market research you have already done.

Competitors

There will be many other authors out there who will be offering books and ebooks in the same genre as you write in. A lot of these will already have readers who will be buying their books. In this section, review the top 10 authors who are most similar to you in terms of their publishing company size, and who have a similar type of audience that you want to attract.

When you review your competitors, think about what their strengths are. For example, if a competitor has a large social media following, from which they promote their books, then this would be a strong point of this competitor. This type of information will help you to review exactly who and what you are up against, and what you need to do with your book business, to overcome the strength of your competitor.

Similarly, also consider the weaknesses of your competitors. For example if you know an author in your genre is not effective at selling books and ebooks using their own website, then this could be an area you could really emphasis on when making your titles available to buyers.

Your Strengths, Weaknesses, Opportunities and Threats

When planning your book business, it is wise to take stock of your situation and to do so honestly and objectively.

Every author has strengths and weaknesses. What are yours? For example, if your strength is you are a prolific writer, then this is an advantage as you will be able to get more titles onto the market and sell ebooks quicker. If a weakness you have is not having good ebook cover design skills, then you can plan to get a professional in place.

Opportunities and threats are usually external to you and your book business. For example, if you write non-fiction about a particular niche, which has demand but doesn’t have many books catered to it, then this would be an opportunity you could exploit.

On the other hand, if you know a competitor is about to launch a book in a very similar niche to you, then this could be a threat. In such a case, you would need to create a plan to mitigate this threat.

Marketing Plan

In this section, state how you will reach out to customers. How will you promote you and your books and eBooks? Will you use social media, your own author blog, or network by attending trade shows ?

Will you advertise in certain magazines you know your audience read, either in print and/or online? Write in detail, all the methods you will use to market your titles, and what price points you will use for them, and your strategy for selling at certain prices.

Distribution Channels

In this section, explain how you will sell your ebooks and books. Will you partner up with organisations like Amazon, Kobo and Smashwords and sell your titles through their platforms? If so, describe in detail how this will work.

Perhaps you will sell your titles directly through your own website, or copies at trade events you attend, or at presentations you give to audiences who will be interested in your work. Again, explain how you will do these things.

Financial Forecasts

A business plan for your books will normally have a set of financial forecasts. One type is a sales forecast, which will detail how many sales you expect to make over a 12 month period, based upon how much it will cost you to make those sales (e.g. cost of hiring editors, proof readers, cover designers).

Another very important type of forecast to produce is a cash flow, which will show all expected cash that will come into your business (through sales of your books and ebooks) and expected cash that will leave your business (through ongoing payments made for items such as hosting space for your website, business insurance, and marketing costs), again over a period of 12 months.

A cash flow is helpful to determine how much money you will need to help your book business start-up during its initial months, and at what point your income will exceed your costs, moving your business into profit.

[author] [author_image timthumb=’on’]https://writingtipsoasis.com/wp-content/uploads/2014/01/hv1.jpg[/author_image] [author_info]Hiten Vyas is the Founder and Managing Editor of eBooks India . He is also a prolific eBook writer with over 25 titles to his name.[/author_info] [/author]

The Publishing Business Plan ; 7 Essential Elements

If you are like most aspiring authors, the idea of becoming a published author probably excites you. Even if you are planning to produce an ebook to boost your business, adding “author” to your credentials could represent the fulfillment of a dream you’ve had your whole life or might catapult you into the ranks of the other authorities and thought leaders in your industry.

It’s important to realize that you are not just becoming an author. You are also becoming a publisher. And with that new title comes a new start-up business.

Author vs. Entrepreneur

If you are like most aspiring authors, you may just want to write. You may have no desire to become an entrepreneur. Most writers don’t realize that when they decide to self-publish their work they are making a decision to go into business.

In fact, when you choose to self-publish a book—any type of book— you go into business for yourself. You actually become a publisher and open a publishing company.

You go into the business of writing, producing, and publishing your own books. To a certain extent, you also are responsible for distributing those books, or for finding a way to do so.

If you are writing ebooks to support your existing business, you now have a new business venture to support. As with any other business, it takes time, effort…and money.

How to Create a Business Plan for Your Indie Publishing Company

Besides your good, marketable ebook ideas, you need a variety of things to get your publishing business up and running. First, you need a business plan.

Any seasoned entrepreneur will tell you a plan is necessary to start a company.

A book proposal serves as a great template for such a plan since initially you are creating a plan that revolves around one book. You don’t need to traditionally publish to use it as your business plan; a book proposal serves as an excellent business plan for an indie publisher as well.

This template can be expanded to serve as a business plan for your whole publishing company. I write about this extensively in my new book, The Author Training Manual .

A book proposal is used to prove to a publisher the marketability of a book idea. You want to prove to yourself , since you are the publisher, that your book idea is viable—that it will sell and make you money. And you want to make sure it will enhance, not detract from, your current business.

Seven Essential Publishing Business Plan Elements

There are seven essential elements that should be in every publishing entrepreneur’s business plan:

• A “Resources Necessary to Complete the Book” Calculation

Before you begin any business, or any project, be sure you can afford it. For example, aspiring authors are often shocked at the cost of editing a manuscript, which can prove much more costly than design. Determine what resources you need to complete your book. At the minimum, these can include:

• ISBN numbers
• Ebook conversion
• Permissions
• Review copies
• A Break-Even Analysis

It’s extremely difficult to achieve success if you haven’t defined it. The publishing industry defines success in terms of book sales, and as a publisher, sales must become part of your definition. Must you sell 500, 1000 or even more copies per year to earn back your investment and start making money?

A “break-even analysis” will help you determine this. This entails knowing what it cost to produce your book. Beyond this, how much money do you want to make?

Most companies have monthly, quarterly, semi-annual, and annual goals to meet. This helps them continuously move toward their vision of success—their long-term goal. As the publisher, it’s up to you to create the goals for your company.

• A Promotion Plan

Be sure you create a sound promotion plan for your book. Promotion helps sell books, so this is an important aspect of the book publishing business.

• A Profit and Loss Statement

To keep track of how your company fares financially, you need a profit and loss statement. This allows you to determine if your start up is getting out of the red and into the black. You need to know if your company is actually making money—or if you are losing it. If you publish more than one book, you’ll need to track each.

• Contractor Lists, License Information and Legal Plans

Create a list of contractors you will use to help you run your business—editors, designers, virtual assistants, accountants, etc. Then make a list of the licenses you will need, such as to set up your business in the county where you live, with the tax office, etc.

Then make a list of additional business-related things you need to do, such as set up bank accounts and possibly incorporate your business to reduce personal liability.

• Branding Plans

Make sure you have plans for a website, logo and how you might develop your brand with more books and related products and services. A good publisher always thinks beyond one book.

In fact, you’ll sell more books if you write more books. And you’ll earn more money as an author if you brainstorm additional ways to build a business around your book.

[pullquote position=”right”]The most successful start-up companies are based on sound business plans.[/pullquote] If you are already a business person, you know this. Now apply it to your desire to become an author and self-publish an ebook (or more than one) — to become a successful publisher.

If you are writing an ebook to start a business venture, then treat your desire to get published like an entrepreneurial venture from day one. If you see yourself as a publisher, you’ll be more successful if you do!

This article was originally published on The Future of Ink and is reprinted here in its entirety for our Magnolia Media Network readers.

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A Business Plan for Publishing Success

December 14, 2012 By Nina Amir 3 Comments

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 today’s guest post is written by publishing attorney and author susan spann.

It’s never too early or too late to get started, so let’s take a look at what your author business plan should contain and how to write it.

Traditional business plans have seven components, which together form the author’s “road map” for writing, publishing and promotion. Let’s look at each section in turn:

1. The Overview contains a one to two-page summary of the plan as a whole. It’s hard to write a summary first, so write it after the rest of the plan is complete.

2. The Book Summary contains a one-page or two-page synopsis of the book the business plan covers. Remember: Synopses are always written in third-person present tense regardless of the manuscript’s style and voice.

3. The Marketing Strategies Section contains three sub-sections: pre-release, release phase, and post-release, each with plans and strategies for that phase.

• Pre-release Marketing involves building platform and making contacts with readers, bloggers, authors, and other professionals. Advertising the book plays a role, but learning to manage social media and personal connections is critical, too. Remember: only genuine connections are effective. People know when they’re being used and don’t respond well to authors whose primary motivations are selfish ones. Become an information-provider – someone with useful or interesting information that other people want to hear. The platform and relationship growth you establish in pre-release creates connections which turn into opportunities later on.
• Release-phase Marketing starts when the book becomes available for pre-order and continues through the first 2-3 weeks after release. This is the phase when most sales are made – and thus, where having a business plan can make the biggest difference. Release phase marketing should include both in-person and online appearances (think guest blogs, articles and interviews) . If you have expertise in a relevant area, consider speaking at conferences, libraries, or even coffee houses. Think outside the box!
• Post-release marketing begins about a month after the book releases. Initial buzz passes, sales may begin to decline. Don’t let this depress you! Books, readers, and sales go through cycles. In the post-release phase, an author should return to blogging, maintaining personal connections, and writing. Remember: the best advertisement for the last book is the next book.

4. The Competitive Analysis Section contains an analysis of the author’s current work in comparison to other books in the marketplace, and a plan to enhance the work’s strong points and minimize weaknesses. How to do this? Identify similar works in the market – books that share genres, distribution methods or potential readers with the one you’ve written. Learn why those books sell, where they sell, and who buys them, and then learn from successful authors and publishers’ methods. Writing out this analysis helps highlight patterns and also creates a resource for future works.

5. The Development Timeline contains a timeline for each phase of the author’s work. These timelines are most effective when authors use calendars and establish concrete dates. Build in time for delays – life happens, and smart authors prepare for setbacks. This section of the business plan often contains:

• A Writing and Editing Timeline. This sets out the schedule for writing the work. Plan time for at least two revisions – and as many more as you customarily use.
• A Production and Publishing Timeline. For traditionally-published authors, this starts with submission of the manuscript to the author’s agent or publisher and ends on the date the book hits shelves. For independent authors, this timeline tracks the production process – digital conversion, working with presses, and anything else required to transform the work from word processing document to finished book.
• A Marketing and Distribution Timeline. This timeline will overlap the dates in the first two timelines, because it incorporates all three steps in the marketing process. Authors find it easier to keep marketing efforts on track with a calendar timeline that shows when each milestone should occur.

The key to effective timelines is flexibility: Use concrete dates, but don’t be afraid to revise as you go .

6. The Operations and Management Section contains detailed lists of the people responsible for each step of the writing, production, distribution, marketing, sales and fulfillment process, along with detailed contact and payment information for each. In addition to providing a “one-stop resource” for important facts, this section also gives the author a resource to use with future projects.

7. The Budget may be simple or may be very complex, depending on whether the author publishes traditionally or independently and how much marketing the author intends to do (as well as other factors). The budget contains a detailed list of every cost the author will or may incur in the publishing, distribution, marketing, sales and fulfillment process, dates when each bill must be paid, and a total. (It’s okay to work from estimates, use firm numbers whenever possible.) Researching costs and preparing a budget helps independent authors set price points and helps all authors decide how much to spend on marketing.

Authors’ costs fall into two primary categories:

• Production Costs like editing services and technology. Independent authors will have additional costs here, too, like cover art, publishing and distribution costs.
• Marketing and Promotional Costs include advertising, travel, giveaways (like review copies and reader contests), and any other sums the author spends on promotional activities. These numbers will vary, but all authors will have these costs – and should plan them wisely.

Many authors find the thought of writing a business plan frightening, but if you take it step by step the simplicity may surprise you. Writing a business plan can improve your efficiency, help with sales, and even reduce your stress – leaving you with more time and energy to focus on the part you really enjoy – the writing!

About the Author

December 15, 2012 at 12:46 pm

Holy moly! I had no idea I should be putting a business plan together for my book! Does this apply for fiction as well as non-fiction?

December 17, 2012 at 3:27 am

Andi-Roo–I suggest it for ALL books! Nina

December 17, 2012 at 4:15 pm

Absolutely Andi-Roo! A business plan is a really effective tool for authors in all genres and across all platforms. It can help reduce stress, streamline your effectiveness and help you sell more books!

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How to write a business plan for your bookstore business.

Starting a bookstore is a great idea because it provides an opportunity to share knowledge and connect with people through literature.

Additionally, it can be a great source of revenue, as books are always in demand.

But, first thing first, you need to write a business plan.

A business plan is essential for any new project, as it will provide an outline of the goals, strategies, and resources needed to ensure the success of the business. Without a business plan, it can be difficult to make informed decisions and properly allocate resources.

In short, a good business plan will help ensure the profitability of your bookstore project .

What should be covered when creating a business plan for a bookstore? What's the ideal arrangement for the structure? Which financial figures should be part of the analysis? How to build a solid business plan without spending too much time?

You're in luck! This article has you covered with answers to all these questions.

One last thing, you don't have to start your business plan from scratch.

You can download our detailed business plan for a bookstore and adjust it to match your preferences.

Building a business plan for a bookstore

Is it necessary to create a business plan for your bookstore project.

Yes, you should create a business plan for your bookstore project in order to have a clear strategy and vision for success.

Designing a cohesive business plan will equip you to:

• gain knowledge of the bookstore market
• stay abreast of the industry's newest developments
• recognize solid and successful factors for a bookstore
• understand the book genres, bestseller interests, and reading preferences of customers
• come up with a great value proposition for your bookshop
• analyze competitors' strengths and weaknesses
• find competitive advantages for your bookstore project
• find a business model that will lead you to profitability
• craft and execute a well-thought-out long-term action plan
• identify and manage risks specific to a bookstore, including inventory management, changing reading habits, and online competition

Our team has drafted a business plan for a bookstore that is designed to make it easier for you to achieve all the elements listed.

How to organize a business plan for a bookstore?

Your business plan incorporates various numbers and useful information. It must be presented in a structured format, to make easy to read and digest.

When we made our business plan for a bookstore , we took care to arrange it appropriately.

The content is split into 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The first section is referred to as "Market Opportunity."

This section provides comprehensive insights and analysis on the bookstore industry, including book trends, customer preferences, inventory management, and marketing strategies, guiding entrepreneurs in establishing successful and community-oriented bookstore businesses.

We constantly update all the data to ensure freshness.

2. Project Presentation

The second part is dedicated to the "Project" of your bookstore project. Here, you can outline the range of books and literary works you offer, including different genres, bestsellers, local authors, reading events, cozy reading areas, and the unique value proposition that promotes a love for reading and fosters a literary community.

Also, provide a self-introduction at the end of this section.

Discuss your passion for books, your curated selection of titles, and how you plan to create a cozy and inviting bookstore experience for customers. Highlight your knowledgeable staff, your community events and author signings, and your dedication to promoting literacy and fostering a love for reading through your bookstore project.

We provided pre-written content in our business plan. Adjust it to match your idea exactly.

3. Market Research

Then, we have the "Market Research" section.

In this section, you will find a detailed market segmentation analysis for your bookstore project.

It includes a presentation of other bookstores in the area that will be competing with you. Your store's unique book selections and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

In the "Strategy" section, a detailed 3-year action plan is provided, which highlights all the crucial steps and initiatives to transform your bookstore project into a highly profitable venture.

Additionally, this section includes a marketing strategy, risk management plan, and Business Model Canvas.

5. Finances

Finally, you'll arrive at the "Finances" section, which displays the financial metrics and calculations for your project.

How to draft the Executive Summary for a bookstore?

The Executive Summary is like an introduction to the business plan of your bookstore project.

Don't go beyond 2 pages; emphasize only the significant points.

The goal of this document is to make the reader want to read your business plan.

In the Executive Summary of your bookstore project, provide answers to these questions: what products and services does your bookstore offer? who is your target audience? are there other bookstores nearby? what makes your bookstore unique? what funding do you require?

How to do the market analysis for a bookstore?

Analyzing the market for your bookstore project allows you to gain insights into factors such as customer preferences for books and reading materials, competition from other bookstores, and emerging trends in the publishing industry.

By conducting a comprehensive market analysis, a bookstore can identify customer preferences, curate a diverse book selection, implement competitive pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer base, increased book sales, and a prominent position in the local literary community.

Here is what what we've put in the "Market Research" section of our business plan for a bookstore :

• recent data and statistics about the book industry, including sales figures, market growth, and reader preferences
• a compilation of potential market segments for a bookstore
• the competitive analysis
• the competitive advantages for a bookstore

The key points of the business plan for a bookstore

What's the business model of a bookstore, business model of a bookstore.

a bookstore operates by selling a variety of books, magazines, stationery, and related products. The store may offer physical and/or online sales channels. Revenue is generated through book sales, magazine subscriptions, stationery items, and potentially hosting book-related events or workshops.

The business model focuses on curating a diverse selection of books, providing a welcoming and comfortable reading environment, organizing book signings or author events, offering personalized recommendations, and creating a community hub for book enthusiasts.

Business model vs Business plan

Do not confuse the terms 'business plan' and 'business model'.

A business model is a blueprint for how a company operates and makes money.

In a business plan, you outline your business model employing a framework referred to as the Business Model Canvas.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a bookstore .

How do you identify the market segments of a bookstore?

Segmenting the market for your bookstore project involves dividing your potential customers into different groups based on their reading preferences, genres, and demographics.

These categories may include factors such as fiction readers, non-fiction enthusiasts, children's book buyers, or niche book collectors.

By segmenting your market, you can curate a diverse selection of books that cater to each segment's interests and preferences. For example, you might offer a wide range of fiction novels for avid readers, educational and informative non-fiction books for knowledge seekers, or a dedicated section for children's books with engaging illustrations and captivating stories.

Market segmentation allows you to personalize your offerings, create targeted promotions, and foster a loyal customer base by providing a tailored book-buying experience for each customer segment.

In the business plan for a bookstore , you will find a detailed market segmentation that gives you insights into your potential customers.

How to conduct a competitor analysis for a bookstore?

Without surprise, you won't be the only bookstore business in your market. There will be other stores offering a wide selection of books and literary works.

Your business plan should include a comprehensive analysis of your competitors' characteristics, strengths, and weaknesses to make informed decisions.

Take note of their weaknesses (such as limited book variety, poor inventory management, or inadequate customer experience).

Why should you focus on these elements? Well, these weaknesses can hinder the success of bookstore businesses. By addressing these aspects, you can offer a diverse selection of books and reading materials, provide a cozy and inviting bookstore ambiance, and deliver knowledgeable staff assistance, establishing your bookstore project as a go-to destination for book lovers and avid readers.

It's what we call competitive advantages—enhancing them will help your business excel.

Here are some examples of competitive advantages for a bookstore: diverse and curated book selections, knowledgeable and passionate staff, cozy and inviting reading environment, author events and book clubs, efficient book ordering and delivery, positive customer reviews and recommendations, strong community presence.

How to draft a SWOT analysis for a bookshop?

A SWOT analysis can help identify potential opportunities and threats in the marketplace to inform the strategic planning of the bookstore business.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a bookstore

The strengths for a bookstore

S represents Strengths in SWOT, highlighting the project's internal factors that contribute to its success.

For a bookstore, possible strengths could include a wide selection of books, knowledgeable staff, competitive prices, and a strong online presence.

The weaknesses for a bookstore

W stands for Weaknesses, highlighting the weaker areas or aspects of the project that need improvement.

For a bookstore, potential weaknesses could include limited selection of books, difficulty competing with online retailers, limited ability to advertise and limited customer loyalty.

The opportunities for a bookstore

O represents Opportunities, which are the positive external factors or possibilities that can benefit the project.

Opportunities include launching an online store, offering book subscription services, hosting book-related events, and partnering with local schools and libraries.

The threats for a bookstore

The "T" in SWOT denotes Threats, which are potential negative circumstances or challenges from the external environment.

How to elaborate a marketing strategy for a bookshop?

To attract customers and achieve sales, it's essential to include a marketing strategy in your business plan.

A bookshop can appeal to book lovers and literary enthusiasts by implementing a well-executed marketing approach that emphasizes the bookshop's diverse selection of books, cozy reading environment, and literary events or author signings.

Book lovers won't frequent your bookstore project without effective marketing; showcasing the extensive collection of books, cozy reading environment, and knowledgeable staff is crucial.

Have you explored marketing approaches to attract customers to your bookshop? Consider organizing book readings or author signings, collaborating with local schools or book clubs for reading events or book recommendations, and utilizing social media platforms to engage with book lovers and share literary content.

Don't panic if you lack knowledge about marketing and communication – there are resources to help you learn.

How to build financial projections for a bookshop?

A solid business plan must include detailed financial information such as projected income, expenses, cash flow, and balance sheets.

In your business plan, you will have to make revenue projections for your bookstore project.

Of course, this revenue forecast will have to make sense.

Our financial plan for a bookstore is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

Naturally, you'll have to prepare an initial budget for your bookstore project. Don't forget any expense (we have listed them all in our financial plan !).

Including the break-even analysis in your financial plan is important as it shows whether your bookstore project will be profitable or not.

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Publishing Business

Back to All Business Ideas

How to Start a Publishing Company in 13 Steps

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on November 24, 2021

Investment range

$4,150 - $18,300

Revenue potential

$60,000 - $600,000 p.a.

Time to build

Profit potential

$9,000 - $90,000 p.a.

Industry trend

These are the critical aspects you should evaluate when launching your publishing business:

• Niche — Decide on the types of publications you will produce, such as books, magazines, e-books, or academic journals. Consider focusing on a specific genre or market niche.
• Licenses — Apply for International Standard Book Numbers (ISBNs) for your books through an agency like Bowker in the US. Ensure all published works are properly copyrighted to protect intellectual property.
• Office space — Choose a suitable location for your office, whether it’s a home office or rented commercial space. Ensure it has adequate space for meetings, planning, and administrative tasks.
• Remote work setup — If applicable, set up a system for remote work, including secure communication tools and project management software.
• Register your business — A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple. Form your business immediately using ZenBusiness LLC formation service or hire one of the best LLC services on the market.
• Legal business aspects — Register for taxes, open a business bank account, and get an EIN .
• E-book platforms — Distribute e-books through platforms like Amazon Kindle, Apple Books, and Google Play Books.
• Distribution channels — Establish relationships with distributors, bookstores, online retailers, and libraries. Consider print-on-demand services for lower upfront costs.

Interactive Checklist at your fingertips—begin your publishing business today!

You May Also Wonder:

Is a publishing business profitable?

Yes, you can make a healthy profit from a publishing business if you’re successful. It will take some time and the right authors to get to a good profit level, but it’s an almost $110 billion industry globally so if you can capture even a small part of that, you’ll do just fine.

Are any special licenses needed for a publishing business?

There are no special licenses required for a publishing company on a federal level. You may need business licenses or permits through your state or local governments, so check with those offices for requirements.

How long does it take to start a publishing business?

It will take some time to find authors and get your first books to market. If you market yourself well, you could get started in three to six months.

If I start a publishing business, how do I find good authors?

You can market your new company with your website and through social media. There are thousands of aspiring authors out there who would be thrilled to find a new publisher interested in their work. You could also partner with a literary agency. They get thousands of book submissions and could send some your way.

How do publishing companies make money?

Publishing companies generate revenue through book sales, rights licensing, subsidiary rights, distribution services, and ancillary products. They earn money by selling books in various formats and languages, as well as licensing rights for adaptations, translations, and merchandising. 

Is publishing a hard career?

Whether publishing is a hard career depends on individual factors, but it can be competitive and demanding. It requires strong communication, organizational skills, and the ability to adapt to industry changes. Challenges include finding new authors, meeting deadlines, and navigating market trends.

Which book genre sells the most?

Popular genres include mystery/thriller, romance, science fiction/fantasy, young adult, and non-fiction. However, book sales can be influenced by factors such as popular authors, adaptations, marketing efforts, and cultural trends.

Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a publishing business has pros and cons that you should consider carefully before determining if it’s right for you.

• Rewarding – Boost writers and provide great books to readers
• Creative Control – You choose which writers and works to publish
• Profit Opportunity – Industry has sizable margins
• Competition – Publishing is highly competitive, hard to stand out
• Finding New Voices – Many author submissions to go through to find a gem

Publishing industry trends

Print publishing has declined somewhat in recent years, but the educational and scholarly segment of the market is growing. 

Industry size and growth

• Industry size and past growth – Market analyst IBISWorld values the US publishing market at $33 billion(( https://www.ibisworld.com/industry-statistics/market-size/book-publishing-united-states/ )) and global publishing at more than $112 billion.(( https://www.ibisworld.com/global/market-size/global-book-publishing/#:~:text=The%20market%20size%2C%20measured%20by,is%20%24109.3bn%20in%202021. ))
• Growth forecast – Digital publishing, a major market segment, is predicted to grow at least 6% annually and reach $38 billion in revenue by 2028.(( https://www.researchandmarkets.com/reports/5446278/global-digital-publishing-market-forecast-to-2028 )) 
• Number of businesses – There are nearly 2,000 book publishing companies in the US.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/book-publishing-united-states/ )) 
• Number of people employed – The industry employs almost 70,000 people.(( https://www.ibisworld.com/industry-statistics/employment/book-publishing-united-states/ ))

Trends and challenges

Trends in the publishing industry include:

• Faster internet speed and improved accessibility are driving demand for ebooks and audiobooks
• Children’s books are the most popular genre in publishing as a whole

Challenges in the publishing industry include:

• Online piracy is denting sales as ebooks are illegally shared
• High level of competition

What kind of people work in publishing?

• Gender – 56% of publishers in the US are male, while 44% are female.(( https://www.zippia.com/publisher-jobs/demographics/#gender-statistics ))
• Average level of education – 72% of publishers hold a bachelor’s degree.(( https://www.zippia.com/publisher-jobs/demographics/#degree-level-types ))
• Average age – The average age of a publisher is 43 years old.(( https://www.zippia.com/publisher-jobs/demographics/#age-statistics ))

How much does it cost to start a publishing business?

Startup costs for a publishing company range from $4,000 to $20,000 or more. The high-end range includes the first printing run of your first book. By focusing on digital publishing you can keep costs toward the lower end of the range.

How much can you earn from a publishing business?

The average profit margin in publishing is about 15% which reflects a mix of print and digital publishing.

As a solopreneur, you could work from home and sell 5,000 $12 books in a year, bringing in $60,000 in revenue and $9,000 in profit, assuming that 15% margin. As your brand gains recognition, sales might climb to 50,000 books a year, giving you an annual revenue of $600,000 and a tidy profit of about $90,000.

What barriers to entry are there?

There are a few barriers to entry for a publishing company. Your biggest challenges will be:

• Finding authors – Agents can help, but this requires a lot of reading
• Marketing – Building a brand means spending on marketing

Related Business Ideas

How to Start a Magazine: Cost, Planning and Profit Potential

How to Open a Bookstore in 13 Steps

How to Start a Stationery Business in 13 Steps

Step 2: hone your idea.

Now that you know what’s involved in starting a publishing business, it’s a good idea to hone your idea in preparation to enter a competitive market.

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Look at what types of books are trending with readers by reviewing the bestseller lists. Are thrillers hot? Or maybe it’s romances and memoirs. Your challenge will then be to find strong submissions from authors in trending genres. As a new publisher, you’ll be looking for new authors who are just getting started.

What? Define your publishing services

You’ll have to determine two things: how to best help your authors and what books to offer customers. For authors, you may want to focus on editing, design, and marketing to stand out over another publisher.

Next, consider whether you’ll offer print books or digital, or a mix of both.

How much should you charge for books?

The average cost of a printed book is $14 to $18, while ebooks generally run $3 to $10. Generally, prices depend on the popularity of the author, so your new author’s books will probably be on the lower end of the range. 

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Determine your most likely audience. If you’re publishing in the young adult market with books that target young women, for example, you can probably find them on social media sites like Instagram and TikTok.

Where? Choose your business premises

In the early stages, you may want to operate your business from home to keep expenses low. But as your business grows, you’ll likely need to hire workers for various roles and may need to rent out an office. You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Publishing Company Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better
• The name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “publishing” or “books”, boosts SEO
• Choose a name that allows for expansion: “Infinite Ink Publishing Group” over “Business Brilliance Publishing Group” or “Travel Tales Publishers”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

Powered by GoDaddy.com

Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that set your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Publishing Business Plan

Here are the key components of a business plan:

• Executive Summary: Provide an overview of your publishing business, highlighting its purpose, target market, and how it will stand out in the publishing industry.
• Business Overview: Explain the focus of your publishing company, including genres or types of content you plan to publish.
• Product and Services: Specify the range of publishing services offered, such as editing, design, distribution, and marketing for authors’ works.
• Market Analysis: Evaluate the demand for publishing services and identify your primary customer segments, such as authors, educational institutions, or businesses.
• Competitive Analysis: Analyze other publishers in your niche and define your competitive advantages, like unique distribution channels or specialized services.
• Sales and Marketing: Describe your strategy to attract authors and sell books, whether through online platforms, book fairs, or direct marketing.
• Management Team: Present the qualifications and backgrounds of the management team that will drive the company’s success.
• Operations Plan: Outline the processes from manuscript acquisition to book production and distribution.
• Financial Plan: Summarize the financial aspects, including the budget, pricing model, and revenue projections.
• Appendix: Include additional documentation like detailed market studies, author agreements, or sample marketing materials that support your business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to publishing. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your publishing business will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

• Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2024

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans : This is the most common method, but getting approved requires a rock-solid business plan and strong credit history.
• SBA-guaranteed loans : The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants : A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Venture capital : Offer potential investors an ownership stake in exchange for funds, keeping in mind that you would be sacrificing some control over your business.
• Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a publishing business. 

Step 8: Apply for Publishing Business Licenses and Permits

Starting a publishing business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your publishing business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business Property: Provides coverage for your equipment and supplies.
• Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation: Provides compensation to employees injured on the job.
• Property: Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto: Protection for your company-owned vehicle.
• Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business.

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You can use industry-specific software for publishers like Xpublisher or Quark to help you automate your design and publishing processes.

• Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

• Leverage Social Media Platforms: Engage with your audience on platforms like Instagram, Twitter, and Facebook by sharing visually appealing content, behind-the-scenes glimpses, and interactive posts that spark discussions around literature.
• Website & SEO : Build a professional website that showcases your published books and author services, optimized for searches related to new book releases, author submissions, and publishing services.
• Collaborate with Influencers: Partner with book influencers and bloggers to review and promote your publications, tapping into their established audiences to increase visibility and credibility.
• Host Virtual Book Launches: Organize online events to launch new books, inviting authors, readers, and industry influencers to participate, creating buzz and fostering a sense of community around your brand.
• Utilize Email Marketing: Build and nurture a mailing list by offering exclusive content, discounts, and sneak peeks to subscribers, maintaining a direct line of communication with your audience.
• Explore Podcast Sponsorships: Identify popular literary podcasts and explore sponsorship opportunities, reaching a targeted audience of book enthusiasts who are likely to be interested in your publications.
• Participate in Book Fairs and Festivals: Attend and showcase your books at local and international book fairs, connecting directly with readers and establishing a physical presence in the literary community.
• Run Targeted Online Advertising Campaigns: Utilize platforms like Google Ads and social media advertising to target specific demographics interested in your book genres, maximizing your reach and return on investment.
• Implement Referral Programs: Encourage your existing readers to refer friends by offering incentives such as discounts or exclusive content, turning satisfied customers into advocates for your brand.
• Create Engaging Book Trailers: Produce visually compelling and shareable book trailers to captivate potential readers on platforms like YouTube and social media, providing a dynamic preview of your publications.
• Establish Book Clubs: Foster book club partnerships or create your own, providing a platform for readers to discuss and promote your books while building a dedicated community around your brand.

Focus on USPs

Unique selling propositions, or USPs, are the unique characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they’re able to quickly grasp how your publishing business meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your publishing business could be:

• The premier publisher for new authors
• The best romances, thrillers, and mystery novels
• Top non-fiction publisher

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a publishing company, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in publishing for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in publishing. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you’ll likely need workers to fill various roles. Potential positions for a publishing business would include:

• Copy Editor – Proofreading, fact-checking, polishing manuscripts
• Designer – Cover and illustration design
• Editor – Review and shape manuscripts for publication
• Production Manager – Oversees book production process
• Marketing Lead – SEO optimization, social media strategy

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn or Facebook. You can also use free classified sites like Jobs and AngelList. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.

Step 13: Run a Publishing Business – Start Making Money!

Giving new authors real opportunity and seeing their work embraced by the reading public can be intensely rewarding. Yet publishing can also be a very profitable line of work. 

If you find just a few authors who become very successful, the sky is the limit. You could also create a long-term affiliate relationship with the world’s leading bookseller — just check out the Amazon Associates program . It’s easy and free.

You’re now ready to start publishing and making good money from good writing. You can start small and grow your company into something huge – maybe the next Simon & Schuster!

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Publishing Company Name
• Create a Publishing Business Plan
• Register Your Business
• Register for Taxes
• Fund your Business
• Apply for Publishing Business Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Publishing Business - Start Making Money!

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Expert business plan and financial models

Bookstore Business Plan Template & PDF Example

• September 4, 2024

Creating a comprehensive business plan is crucial for launching and running a successful bookstore. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your bookstore business’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a bookstore business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the retail industry, this guide, complete with a business plan example, lays the groundwork for turning your bookstore business concept into reality. Let’s dive in!

Our bookstore business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the store’s operations, marketing strategy, market environment, competitors, management team, and financial forecasts.

• Executive Summary : Offers an overview of your bookstore’s business concept, market analysis , management, and financial strategy.
• Store & Location : Describes the store’s design, amenities, and why its location is appealing to potential clients.
• Supply & Products : Lists the types of books and related products provided by your bookstore, including pricing structure.
• Key Stats : Shares industry size , growth trends, and relevant statistics for the bookstore market.
• Key Trends : Highlights recent trends affecting the bookstore sector.
• Key Competitors : Analyzes main competitors nearby and how your bookstore differs from them.
• SWOT Analysis : Strengths, weaknesses, opportunities, and threats analysis.
• Marketing Plan : Strategies for attracting and retaining customers.
• Timeline : Key milestones and objectives from start-up through the first year of operation.
• Management: Information on who manages the bookstore and their roles.
• Financial Plan: Projects the store’s 5-year financial performance, including revenue, profits, and expected expenses.

Bookstore Business Plan

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Executive Summary

The Executive Summary introduces your bookstore’s business plan, offering a concise overview of your bookstore and its services. It should detail your market positioning, the range of books and related products you offer, its location, size, and an outline of day-to-day operations.

This section should also explore how your bookstore will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your bookstore’s unique selling points that differentiate it from these competitors.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the bookstore’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your bookstore’s financial plan.

Business Overview

For a Bookstore, the Business Overview section can be concisely divided into 2 main slides:

Store & Location

Describe the bookstore’s design, comfort, and welcoming atmosphere. Highlight its location, accessibility, and convenience, such as proximity to public transportation, shopping centers, or ample parking. Explain why this location is ideal for attracting your target clientele.

Supply & Products

Detail the range of books and related products offered, including bestsellers, niche genres, and local authors. Include items like stationery, book-related merchandise, and e-books. Outline your pricing strategy , ensuring it reflects the market and quality of products. Highlight special offers, membership deals, and loyalty programs to encourage repeat visits and customer loyalty. Mention partnerships with local authors, book clubs, or schools to enhance community engagement.

Market Overview

Industry Size & Growth

In the Market Overview of your bookstore business plan, start by examining the size of the book retail industry and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key Market Trends

Proceed to discuss recent market trends , such as the increasing consumer interest in diverse book genres, e-books, audiobooks, and sustainable products. Highlight the demand for personalized book recommendations, book clubs, and community events, alongside the rising popularity of independent and local bookstores.

Competitive Landscape

A  competitive analysis  is not just a tool for gauging the position of your bookstore in the market and its key competitors; it’s also a fundamental component of your business plan.

This analysis helps in identifying your bookstore’s unique selling points, essential for differentiating your business in a competitive market.

In addition, competitive analysis is integral in laying a solid foundation for your business plan. By examining various operational aspects of your competitors, you gain valuable information that ensures your business plan is robust, informed, and tailored to succeed in the current market environment.

Identifying Your Competitors in the Bookstore Industry

Identifying competitors is the first step in understanding your position in the bookstore market. Begin by mapping out local bookstores and large retail chains. For instance, if your store specializes in rare and antique books, your direct competitors include nearby specialty bookstores known for their rare collections, as well as larger retailers that offer a wide range of books. Don’t overlook indirect competitors such as online retailers and digital book platforms that offer extensive book collections.

Use online tools like Google Maps to get a geographical sense of competitor distribution. Platforms like Yelp and TripAdvisor offer customer reviews and ratings, providing insights into competitors’  strengths and weaknesses . For example, if several reviews commend the cozy atmosphere and extensive collection at “Readers’ Haven,” this is a key strength of your competitor.

Bookstore Competitors’ Strategies

Analyzing the strategies of these competitors involves several aspects:

• Product Range:  Examine their range of books. If “EcoReads” is gaining popularity with its collection of environmentally themed books and sustainable business practices, it indicates a market trend toward ethically conscious consumers.
• Merchandising:  Consider the merchandising and display techniques. A store like “Novel Ideas” that focuses on visually appealing, thematic displays might attract customers looking for an immersive shopping experience, while “Budget Books” might appeal to those looking for affordable options.
• Pricing Strategy :  Compare your prices with those of competitors. Are your books priced similarly to “Value Pages” or are they more aligned with the premium offerings at “Literary Luxe”?
• Marketing Tactics:  Look at how competitors market their products. Do they have a strong online presence with active social media accounts and book club partnerships, or do they rely more on local community events and author signings?
• Customer Experience:  Assess the in-store experience. For instance, “Book Nook” might be known for its comfortable reading areas and knowledgeable staff, enhancing the shopping experience.
• Operational Efficiency:  Observe if competitors are using technology or innovative processes to streamline shopping and purchasing, such as “TechSavvy Reads” with its online ordering system and in-store pickup options.

What’s Your Bookstore’s Value Proposition?

Reflect on your store’s  unique value proposition . Maybe your bookstore is known for its exclusive signed editions, or perhaps you offer a unique range of community events and reading programs that aren’t available elsewhere in your area.

Identify market gaps through customer feedback and industry trends. For example, the growing interest in book clubs and literary events could represent a market opportunity if competitors are not addressing this demand.

Consider your location: A bookstore in a busy urban area might focus on trendy, high-demand titles and hosting literary events for a diverse customer base, while a store in a suburban neighborhood could capitalize on offering a wide range of genres and creating a community-focused atmosphere for families and local readers.

First, conduct a SWOT analysis for the bookstore , highlighting Strengths (such as a unique book selection and knowledgeable staff), Weaknesses (including high operational costs or strong competition from online retailers), Opportunities (for example, increasing interest in local and independent bookstores and community events), and Threats (such as economic downturns that may decrease consumer spending on non-essential items).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, promotional discounts, engaging social media presence, and community involvement.

Marketing Channels

Identifying and utilizing effective marketing channels is vital for reaching and engaging the target audience .

Digital Marketing

• Social Media:  Utilize platforms like Instagram, Twitter, Facebook, and Goodreads to showcase new book arrivals, author features, and reading recommendations, and engage in conversations with your audience. Foster engagement by responding to comments and direct messages.
• Email Marketing:  Cultivate an email list by offering incentives for sign-ups. Send newsletters featuring book reviews, upcoming author events, exclusive discounts, and behind-the-scenes content to keep readers engaged.
• Website and SEO:  Develop a user-friendly website with a comprehensive book catalog, customer testimonials, a blog featuring literary content, and optimized content for local SEO. Ensure your bookstore ranks highly in search results for relevant book searches in your area.

Local Advertising

• Flyers and Local Print:  Design and distribute eye-catching flyers in local cafes, boutiques, and community centers. Invest in ads within local lifestyle magazines and newspapers to broaden your reach and capture the attention of potential customers within the area.
• Community Engagement:  Participate actively in local events, fairs, and expos relevant to literature or education. Offer free book consultations or mini-reading sessions to engage attendees and create brand visibility. Consider sponsoring local sports teams, charity events, or school programs to enhance community connections and increase brand recognition.
• Partnerships:  Forge collaborations with complementary local businesses like cafes, libraries, or schools. Collaborate on joint initiatives, cross-promotional deals, or shared events to mutually benefit from each other’s customer base.

Promotional Activities

• Special Promotions:  Launch targeted seasonal promotions such as ‘Summer Reading Discounts’ or ‘Winter Book Bundles’ to entice readers during specific periods. Offer exclusive discounts or incentives for first-time buyers to encourage trial purchases.
• Loyalty Programs : Implement a tiered loyalty system where customers earn rewards or points for every purchase or engagement. Offer perks such as discounts, exclusive access to events, or early book releases for loyal customers.
• Referral Incentives:  Encourage existing customers to refer friends or family by providing incentives such as discounts, free book vouchers, or bonus loyalty points for successful referrals.

Sales Channels

Sales channels  serve as essential avenues for driving revenue and ensuring customer satisfaction.

• In-Store Upselling:  Train staff to recommend additional reads or related books to customers browsing in-store. Encourage add-ons such as book accessories, bookmarks, or themed collections at checkout.
• Retail Products:  Display related products or book-related merchandise prominently at the checkout counter. Educate customers about the benefits of these products, such as booklights, bookstands, or themed items.
• Package Deals:  Offer bundled services or book sets at discounted prices to incentivize multiple purchases or themed reading experiences.

Online Booking and Sales

• Online Booking System:  Implement an intuitive online booking system accessible through your website and social media platforms. Offer incentives such as limited-time discounts or special deals for bookings made online.
• E-Commerce Platform:  Utilize an e-commerce platform to sell not only books but also book-related merchandise, gift cards, or exclusive book sets. Make the buying process seamless and user-friendly for customers.
• Virtual Consultations:  Offer online consultations or virtual book recommendations for personalized reading advice. This personalized service can lead to tailored book recommendations and increased customer satisfaction.

Membership and Loyalty Programs

• Membership Options:  Create membership programs offering benefits like exclusive access to limited editions, reserved seating at author events, or monthly book subscriptions at discounted rates.
• Loyalty Rewards : Develop a digital loyalty program where customers accumulate points for every purchase, which can be redeemed for discounts on future purchases or exclusive book-related merchandise.

Strategy Timeline

Finally, create a detailed timeline that outlines critical milestones for the bookstore’s opening, marketing efforts, customer base growth, and expansion objectives, ensuring the business moves forward with clear direction and purpose.

The Management section focuses on the bookstore business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the bookstore business toward its financial and operational goals.

For your bookstore business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your bookstore business’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your bookstore business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Why & How to Build a Book Project Plan

• December 20, 2018

John Wagner-Stafford talks you through the steps of creating a book project plan

Planning so self-publish a new book in the new year? Let John Wagner-Stafford , co-founder of ALLi Partner Member Ingenium Books , explain how to do this super-efficiently by designing and following your own book project plan.

A project plan for your book serves the same purpose as the blueprints for the house you'll build, the trip plan for your year-long round-the-world trip, or the grocery list for your big dinner party. It begins with an idea of what you want to achieve and ends with the last tasks needed to successfully publish your book.

At Ingenium Books , we believe that writing a book and self-publishing in today’s marketplace requires adopting some good small business practices . If you approach your book writing and author career like a small business owner, you will increase your chances for success. 

Most businesses today pay special attention to how they plan their projects. They employ at least a few project management best practices and some sort of a project management system. The general notion of winging it without a plan will probably not get you very far when running your own business, including when that business involves publishing your own book.

What is a project plan for your book?

Essentially, a book project plan is a status gathering and reporting system .

When I worked at Ubisoft as a video game producer and the world entered into a new millennium in 2000, I and my team were huddled around one of our open-space meeting tables setting up and planning a new project: Prince of Persia, The Sands of Time . We faced many decisions and choices about technology, systems, people, and money. My responsibility was to sort out how we were going to report our progress. Which data gathering and reporting system we would use to plan, track and report the progress and health of this enormous project? Ubisoft wanted to make sure each project manager, all the creative leads, the game designers, story writers, and the producer (me) were all on the same page. I chose a combination of Microsoft Project for the big picture and a system I developed for the daily deliverables.

The systems would need a project manager who would enter and update the data daily to help us manage dependencies and resources. We would literally do the rounds with each artist and enter into the database the percent of their progress, take note of any anomalies or roadblocks in the way of advancement, then the report would end up on my desk each afternoon, so I would be able to decide how to move forward with the next day's plan.

Your book project plan

You can use these principles and concepts for your book project too. There won't be quite so many moving parts and there will be fewer people to deal with.

A book project plan can be a simple task list on a piece of paper, several pieces of paper in a file folder, or a plan created with a software program. Either way, it will have some or all of these characteristics:

• May be laid out on a timeline indicating when tasks are to be completed, how they relate to each other, and what happens if they are delayed.
• Provides a view of how long it will take to get the job done.
• Offers a window into how much your project will cost .
• Gathers together in one place all the information you need to answer the questions: why, what, when, who, and how.
• Answers the question,  what if ? Your plan will allow you to test different scenarios and help you choose which one is right for any moment.

A plan makes it easier to turn on a dime and head in a different direction.

Without a plan, you will not see problems on the horizon which are slowing you down now.

And you will have no effective way to course correct when things are not quite right.

Benefits of a book project plan

Most authors come to us with an idea, or a manuscript of varying quality, in various stages of completion. They don't, however arrive with plans. They often haven't thought of a marketing plan, or a distribution plan. Not one has ever considered a book project plan. Well, we think of—and take care of—the book project plan.

Writing a plan is the first step to organizing your project. It delivers a fighting chance for your book to get published the way you conceived it.

It helps you identify, in advance, all the very components that go into writing and publishing your own book. A book project plan focuses on getting the important things done at the right time and it helps you choose priorities.

Your plan will let you see which tasks are falling behind or which one need to be advanced. It lets you see what happens to your scheduled publish date if things get delayed. (Like maybe completing the first draft of your manuscript is taking you way longer than you expected. It happens.)

Creating your book project plan will help relieve the burden of constantly wondering if you're on top of every detail. It will let you focus on the big picture.

How do you put a book project plan together?

You'll need to do a bit of research, and it will take a bit of time to get it all set up right. Here are some high-level project plan components you can start with to get you going.

•    A plan/purpose statement
•    Big-picture task list with estimated durations and dependencies (what other tasks are dependent on this one)
•    Resources list
•    Deliverables list and their costs
•    Timeline (could be Excel or Numbers, at Ingenium Books we use Aeon)
• A project purpose statement

Your purpose statement includes why you are writing your book . It will address what you expect to gain personally and professionally as a result of writing your book and what are you able and willing to invest to get your book published (time and money).

If you have already created a purpose statement, add it to your book project plan. You will be reminded of your purpose each time you update your plan. When you hit a rough patch, or become overwhelmed, having your purpose statement right up front on your book project plan will help you answer the question, “Why am doing this, and why now?”

• Big-picture task list

What you add to your task list will depend on what stage you are at in getting your book published. Your task list could also be affected by the subject and genre of your book. If you have a lot of writing to do to finish the first draft of your manuscript, you might break down your writing tasks by chapter. It will also depend a bit on what help you are planning to obtain from others:

• Are you hiring a cover designer?
• Marketing specialist?

If you have a lot of research to do, for example, that might make its way onto the task list.

In general, though, the big-picture tasks will be similar for most authors and most books.  Here is an example of a partial list of starting-point tasks we add to our plans to get your book published:

✓    Project start

✓    Project purpose

✓    Marketing plan

✓    Manuscript development

✓    Marketing implementation

✓    Distribution prep

✓    Pre-Launch marketing

✓    Launch week

✓    Post-launch marketing

Of course, under any of these high-level tasks, you will need to add subtasks . Adding these subtasks to the project plan for your book has pro and con implications, in particular related to manageability and clarity.

With more detail comes more effort. There will be more follow up and more reporting, BUT you are less apt to miss out on the little things.

With less detail, the process is much easier to manage, follow, and report on. But you might miss something important.

• Resources list

Simple and easy. This is where you identify who will be doing what . You can do this in one of two ways. Use titles, or use people's names. We use titles like author, cover designer, editor, proofreader, formatter, etc. If yours is a simple plan and you are doing most of the work yourself, then you might not need this. (A word of advice though, never underestimate the need for an editor. If you hire no one else to help with your book, at least hire an editor!)

• Deliverables list

Adding a deliverables list is essential . It does not need to be exhaustive but will help when you are identifying dependencies. Assigning dependencies will help to realize the impact of early or late delivery on other tasks or deliverables, such as your launch date.

Record the deliverable and who will be responsible for the delivery. Determine the duration, the cost, and what task(s) need to be finished before this can start and which task(s) cannot start until it is delivered. The result of adding deliverables to your project timeline might look like this in your plan.

• Project timeline 

The project timeline is part of the system and can take on one of many forms. It can be as simple as your Outlook or Google calendar. You can use an Excel spreadsheet or sophisticated gantt chart software. The important notion is to create a view of the progression of each task and how it relates to time passing, when it should be completed, and the order in relation to the other tasks. As your project progresses, modify the dates or position in your system to give you a view of how the changes affect what is to come.  Here are a few examples:

Google Calendar

Excel spreadsheet

Gantt chart

By preparing a book project plan you will provide yourself with:

• an effective means to monitor how your project is advancing
• a view of which tasks are not panning out as planned
• what effect that might have on the overall project

It will help you better manage your book project in a professional, business-like manner .

And, approaching your book project with a small-business perspective will pay off in spades by saving time and money. Also, you’ll appear to be organized and professional in the eyes of your suppliers and it will boost your own confidence about getting your book published. Period.

John is co-founder of Ingenium Books, which is a partner member of ALLi. He’s also a serial entrepreneur and a creative project producer. John’s creative & entrepreneur accomplishments include professional musician (saxophone, vocals); recording engineer with artists like Peter Frampton, Celine Dion, Pat Metheny, and Leonard Cohen; soundtrack producer for film and television; trainer and coach to the sound mixer team at MSNBC when the New York-based network went live for the first time in 1997; producer of notable video games such as Prince of Persia, Myst IV-Revelation, and Splinter Cell IV-Double Agent; COO during the startup phase for KANDY Outdoor Flooring Inc., licensed realtor in two Canadian provinces; a master canoeist; and ASA-certified sailor. John is co-author, with his wife and business partner Boni Wagner-Stafford, of Rock Your Business: 26 Essential Lessons to Start, Run, and Grow Your New Business From the Ground Up.

OVER TO YOU Do you have any further ideas to add to John's advice? We'd love to hear them.

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Primavera P6 allows executive-level employees to communicate with other workers, project managers, and planners easily. In addition, notes can be made on the software schedule to ensure that all users see the message.

Oops, you forgot formatting the ebook and print book content files.

Thanks Joan, the images here are for example purposes only…. we absolutely include those elements in our project plans!

LOVE this idea! I do something similar, but not as involved. So many good tips here to ponder. Thanks for the great article and the insights. I bet this will help a lot of authors to work “smarter, not harder,” as the saying goes. 🙂

Thanks so much J.P.!

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Bookstore Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their bookstores. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a bookstore business plan template step-by-step so you can create your plan today.

Download our Ultimate Bookstore Business Plan Template here >

What Is a Bookstore Business Plan?

A business plan provides a snapshot of your bookstore as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for Your Bookstore

If you’re looking to start a bookstore or grow your existing bookstore you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your bookstore in order to improve your chances of success. Your bookstore business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Bookstores

With regards to funding, the main sources of funding for a bookstore are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a bookstore is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Finish Your Business Plan Today!

Your business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of bookstore business you are operating and the status; for example, are you a startup, do you have a bookstore that you would like to grow, or are you operating a chain of bookstores.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the bookstore industry. Discuss the type of bookstore you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of bookstore you are operating.

For example, you might operate one of the following types:

• Traditional bookstore : the traditional bookstore maintains a broad inventory of books in a variety of genres and subjects.
• Religious bookstore : this type of bookstore stocks primarily religious books and accessories.
• Used bookstore : this type of bookstore sells books that have been previously owned.
• Specialty bookstore : this type of bookstore stocks books for a particular niche audience (i.e. New Age, Comic Books, etc.).

In addition to explaining the type of bookstore you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the bookstore business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the bookstore industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards cookbook consumption, it would be helpful to ensure your plan calls for a substantial cooking section.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your bookstore business plan:

• How big is the bookstore business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your bookstore. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your bookstore business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of bookstore you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing promotions than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most bookstores primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Bookstore Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other local bookstores.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes online bookstores, ebooks, libraries, etc. You need to mention such competition to show you understand that not everyone who reads frequents a bookstore each day.

With regards to direct competition, you want to detail the other bookstores with which you compete. Most likely, your direct competitors will be bookstores located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior products?
• Will you provide products that your competitors don’t offer?
• Will you make it easier or faster for customers to acquire your products?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a bookstore business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of bookstore that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to books, will your bookstore include a cafe, where it will offer items such as coffee, espresso, bakery items, etc.?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the items you offer and their prices.

Place : Place refers to the location of your bookstore. Document your location and mention how the location will impact your success. For example, is your bookstore located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your bookstore marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your storefront extra appealing to attract passing customers
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Social media advertising
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your bookstore such as serving customers, procuring new books, keeping the store clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 5,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your bookstore’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the bookstore business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in bookstores and/or successfully running retail and small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per day or 100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your bookstore, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a bookstore:

• Location build-out including design fees, construction, etc.
• Cost of fixtures like shelving, seating, and cafe fixtures like grinders, espresso machines, blenders, refrigerators
• Cost of acquiring and maintaining an adequate inventory
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Bookstore Business Plan Summary

Putting together a business plan for your bookstore or an online bookstore business plan is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the bookstore business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful bookstore.

Download Our Bookstore Business Plan PDF

You can download our bookstore business plan PDF . This is a business plan template you can use in PDF format to help you get started on your own plan.

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Comic Book Business Plan Template & Guidebook

Whether you own an existing comic book business, or you're just starting out, having a meticulously-crafted business plan is the key to success. The #1 Comic Book Business Plan Template & Guidebook helps you develop a comprehensive plan that outlines every important step of your business and how to achieve success. This guidebook provides a roadmap to help you become a leading voice and influential player in the comic book industry.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Comic Book Business [11 Steps]
• 25 Catchy Comic Book Business Names:

How to Write a Comic Book Business Plan in 7 Steps:

1. describe the purpose of your comic book business..

The first step to writing your business plan is to describe the purpose of your comic book business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a comic book business:

Our mission is to connect people with comic books and provide a safe, secure, and reliable platform for fans to share their love of comics. We strive to create an enriched and interactive experience that allows readers to discover new stories and characters, and to be part of a larger community that values the art of comics.

2. Products & Services Offered by Your Comic Book Business.

The next step is to outline your products and services for your comic book business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your comic book business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your comic book business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your comic book business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

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4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a comic book business?

• Software for inventory control, POS and accounts management
• Tablet/iPad or other device to manage inventory, sales and accounts on the go
• Comic book displays and shelving units
• Secure payment system (cash register, card reader, etc.)
• Permit to sell comic books (if required)

5. Management & Organization of Your Comic Book Business.

The second part of your comic book business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your comic book business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Comic Book Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a comic book business varies based on many different variables, but below are a few different types of startup costs for a comic book business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your comic book business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your comic book business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your comic book business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Comic Book Business Plans:

Why do you need a business plan for a comic book business.

A business plan is an important tool for any business, and a comic book business is no exception. A good business plan can help you identify your goals and objectives, understand your market, decide on how to finance your venture, and develop a strategy for success. It also gives you a roadmap for how your business will evolve and grow over time. Having a well-thought-out plan ensures that you have a clear understanding of current and projected expenses, sales goals, profits and losses, and more. Creating a business plan for your comic book business is the best way to set yourself up for success.

Who should you ask for help with your comic book business plan?

You should ask for help from a business advisor, bookkeeper, accountant, or lawyer who specializes in small business matters and comic book industry.

Can you write a comic book business plan yourself?

Yes, you can write a comic book business plan yourself. It is important to research the comic book industry and its challenges in order to develop a comprehensive business plan that meets your individual goals and objectives. The first step of writing a comic book business plan involves researching the marketplace, analyzing competitor information, and understanding your target audience. You should then create a mission statement for your business, set realistic sales goals and determine how you will reach those goals. You should also develop a marketing strategy for getting your comic book noticed by potential customers. Finally, you should also consider creating a financial plan outlining expenses and potential sources of funding, as well as considerations for taxes, insurance and any other legal requirements related to running a business.

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Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

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How to Write a Bookstore Business Plan: Template & Guide

Have you ever thought of opening your own bookstore?

Well, starting a bookstore is a rewarding venture that combines a passion for books with business savvy!

Whether you aim to open a niche store catering to specific genres, a cozy corner shop stacked with dusty classics, or a vibrant space filled with the latest bestsellers, the first thing you’ll need is a strong business plan.

Need help getting your plan in order? Don’t worry; we’ll help!

Explore this bookstore business plan template that will help you get started, understand what to include in a business plan, and guide you on how to make it compelling for investors.

Sounds good? Let’s dive right in!

Why You Need a Business Plan for Your Bookstore

A business plan serves as a strategic roadmap for your bookstore, highlighting your business goals, strategies to achieve them, and growth plans for the next few years.

Whether you’re planning to start a new bookstore or expand an existing one, you need a well-thought-out business plan to make it successful.

Here are several reasons why you need to write a bookstore business plan:

To get clarity on your vision

Well, writing a business plan helps you crystallize your unique business idea, vision, and short-term objectives. This will force you to consider each aspect of your business, including financial projections, operational procedures, marketing tactics, and long-term goals.

To raise funding

If you want to secure funding, you will need a solid business plan in place, as it shows the viability of your bookstore venture. Also, it is easier for potential investors to understand the financial aspects of your business and learn about the industry and market before making any decision.

To better understand your competitors

Conducting thorough market research is integral for a business plan, allowing you to comprehend the competitive landscape easily. Plus, you will get the information you need about your competitors, including their price points, USPs, market positioning, and target customers.

To identify potential risks

When you create a business plan, you can identify the potential risks and challenges your bookshop may face. By knowing these risks beforehand, you can develop contingency plans and strategies to mitigate their impact and ensure the long-term success of your business.

Now that you know the importance of having a business plan , let’s explore the key components you need to include in a bookstore business plan.

What to Include in Your Bookstore Business Plan?

While drafting a comprehensive business plan, you should include the following key sections in your bookstore business plan:

1. Executive Summary

An executive summary is the first and foremost section, providing a high-level overview of your bookstore business plan.

Though it is an introductory part, it would be more convenient to write in the last once the entire doc is ready. Why? It summarizes the most important points you have included in the rest of the plan.

Your executive summary may include a brief description of your business, including.

• Business concept & status
• Vision/mission statement
• Market opportunities
• Your target customers
• Marketing strategy
• Financial highlights

The primary goal of writing an executive summary is to quickly engage the reader and persuade them to delve further into the plan. So, keep this section simple, concise, and compelling enough.

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2. Company Description

The company description section provides an in-depth understanding of your bookstore, starting from its basic information (like its registered name, location, and size) to its long-term plans.

So, this is your opportunity to present your business concept in detail that every potential investor or any financial institution needs to know.

You may also include the following points in this section:

• Type of bookstore you own (traditional bookstore, online store, hybrid approach, specialty store, etc.)
• Business founders
• Core values or short history
• Previous achievements (if any)
• Legal structure(s-corp, an LLC, or a sole proprietorship)
• Short-term and long-term goals

This section introduces your business to the readers, so make sure that it is concise yet engaging.

3. Market Analysis

In the market analysis, you should give a thorough knowledge of the industry in which your bookstore intends to operate, the competitive environment, and industry-specific elements affecting business success.

This will help you identify and understand the target market, along with the customer demographics, psychographics, and preferences.

For instance, you may refer to an example of target market segment of the Maxwell bookstore:

By conducting detailed market research, you could even analyze the top competitors in your area and evaluate the emerging market trends, like digital vs. print selections, emerging genres, etc.

Remember, the main intention of this section is to identify the market gaps and describe how you stand apart from the other bookstores.

4. Products and Services

The products and service offerings section should present a detailed breakdown of what type of books you plan to sell, what you’ll charge for them, and what other services you might offer.

You may include some of the most common product categories such as, magazines and newspapers, religious books, autobiographies, textbooks & educational materials, or stationery.

In addition to that, you may even highlight the services, including book clubs, workshops, reading events, or a cafe.

5. Marketing and Sales Strategy

As the name indicates, this section involves the strategies you’ve decided to attract and retain customers by promoting your business. You may include online and offline marketing or external promotional campaigns.

For example,

• Outline branding principles and logo
• Describe marketing strategies (traditional advertising, digital marketing, author signings, or community events)
• Discuss any collaborations (schools or local organizations)
• Define pricing strategy & sales channels
• Explain loyalty programs or incentives

Overall, these sales and marketing strategies will help investors to recognize how you’ll promote your bookstore and generate sales, making it essential to consider.

6. Operational Plan

As you have clarified your business goals in the previous sections, now it’s time to explain how you’ll accomplish those goals.

In your operations plan section , you’ll need to describe the day-to-day activities required to run the bookstore smoothly.

For instance, consider outlining operational routines like how much staff strength you will require, how you will handle administrative duties, and keep track of inventory.

Furthermore, you may summarize customer service protocols, technology requirements, and bookstore layout plans.

7. Management Team

A well-trained and strong management team is crucial to your bookstore’s success. So, here, you will introduce your management team in this section.

You may highlight the bookstore owners and key manager, along with the educational backgrounds, skills, and experiences that help you grow your business.

Also, try to explain how each member fits their roles and what responsibilities they will take care of, like resume-styled summary. You may even add a personnel budget plan to demonstrate their salaries.

8. Financial Plan

A financial plan is the most important aspect of your business planning. Typically, a bookstore financial plan covers the financial projections for the first 3-5 years.

You may consider including a few critical statements and reports such as sales forecasts, income statements, cash flow estimates, balance sheets, revenue streams, initial startup costs, funding requirements, and break-even analysis.

Here is an example of a balance sheet prepared using Upmetrics:

Besides that, you may discuss essential financial assumptions and include sensitivity analyses for different sales scenarios.

This way, you can demonstrate to financial backers that you have a solid understanding of the finances, allowing them to make informed decisions and see your store’s long-term growth and profitability.

9. Appendix and Supporting Documents

In this section, you may attach any supporting documents that don’t fit into specific sections but support your plan. It includes

• Market research data and surveys
• Licenses & permits
• Supplier agreements or contracts
• Resumes of an executive team
• Store location lease & design blueprint

You may also incorporate any additional documents or attachments that your readers might use for reference.

Download a Sample Bookstore Business Plan

Ready to start writing your bookstore business plan but need more assistance? Well, here you go; download our free bookstore business plan template PDF to get started.

This modern business plan template has been specifically designed for bookstores in mind. It comes with step-by-step guides and examples that help you develop your own plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Now that you have a detailed bookstore business plan outline, it’s much easier to kickstart your plan writing process.

However, drafting a comprehensive business plan from scratch can be a daunting task. But not to worry; Upmetrics could be a great companion here!

It’s a modern, AI-powered business plan generator that helps new entrepreneurs and small business owners create investment-ready plans in minutes.

From easy-to-follow guides and 400+ sample business plans to financial forecasting software, Upmetrics offers everything to streamline the entire business planning process for you.

So, wait no longer; start preparing your plan!

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Frequently Asked Questions

What are the financial projections i need to include in my business plan.

You should include the following financial projections in your business plan:

• Profit and loss statement (Income statement)
• Cash flow projections
• Balance sheet
• Break-even analysis
• Initial funding needs

Is a bookshop business profitable?

According to reports , the bookshop market is expected to increase at an annual growth rate of 1.7% through the end of 2024 and is forecasted to grow at a CAGR of 3.0% in 2029. So, opening a bookshop would be a profitable business for aspiring entrepreneurs.

Is a business plan template essential for opening a bookstore?

Of course, having a business plan template can be very helpful for opening a bookstore. You can use it as a reference point while writing a business plan instead of starting from scratch. It provides a structured outline, pre-designed sections, prompts, and customization options tailored to your specific needs and goals.

Are there any free or paid bookstore business plan templates available online?

Yes. There are both free and paid bookstore business plan templates available online. You may consider using Upmetrics’ free bookstore business plan PDF to structure and detail your business plan outline.

Should I get professional help with writing my bookstore business plan?

It’s not mandatory to get professional help while writing your bookstore business plan, as there are different business planning software available. However, having professional assistance could be a worthwhile investment. It will save time and help create high-quality plans that speak to your financial backers or stakeholders.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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OPEC+ set to go ahead with Dec oil output hike, sources say

A 3D printed oil pump jack in front of displayed OPEC logo on April 14, 2020. Dado Ruvic/Reuters

The Organization of the Petroleum Exporting Countries and its allies will go ahead with a planned oil production increase in December but first need to cut output to address overproduction by some members, two OPEC+ sources said on Thursday.

The sources said the plan didn’t represent any major change from existing policy after the Financial Times reported Saudi Arabia is committed to OPEC+ raising production on Dec. 1 and dropping its unofficial $100 a barrel oil price target to win back market share.

OPEC and Saudi Arabia have repeatedly said they do not target a certain price and make decisions based on market fundamentals and in the interest of balancing supply and demand.

The output increase in December is not about regaining market share, it is about a small number of countries phasing out their voluntary output cuts, one of the OPEC+ sources said.

OPEC+, which groups OPEC members and allies such as Russia, is scheduled to raise output by 180,000 barrels per day in December. Iraq and Kazakhstan have pledged to cut 123,000 b/d in September to compensate for earlier pumping above agreed levels.

“When the compensation plan and production figures from those countries becomes clear for September then that will allow the increment to come in as the impact of the increment will be negligible,” one of the OPEC+ sources said, referring to the December increase.

The Saudi government’s communications office and OPEC’s headquarters did not immediately return requests for comment.

OPEC+ is currently cutting output by a total of 5.86 million b/d, equivalent to about 5.7 per cent of global oil demand. Earlier this month, they delayed the plan to boost output after oil prices fell to a nine-month low.

Global crude benchmark Brent was down about 2.5 per cent to below $72 a barrel at 1420 GMT.

A panel of top ministers from OPEC+ called the Joint Ministerial Monitoring Committee is scheduled to meet on Oct. 2 to review the market and is not expected to make any changes to policy.

Russian Deputy Prime Minister Alexander Novak told Reuters on Thursday that there were no changes to OPEC+ plans to start phasing out oil production cuts from December.

Russian Deputy Energy Minister Pavel Sorokin said that Russia does not want to flood the market with oil when speaking about plans to raise country’s output to 540 million tons from 2030.

The cuts by Iraq and Kazakhstan are so-called compensation cuts that the countries have pledged to make up for earlier pumping above quotas. More such cuts are pledged in later months this year and into 2025.

OPEC+ ministers could meet again in November, a third OPEC+ source said.

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News Analysis

Harris Now Has an Economic Plan. Can It Best Trump’s Promises?

A central question in the final stretch of the election is if Vice President Kamala Harris’s proposals will cohere into an economic argument that can top former President Donald J. Trump’s.

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By Andrew Duehren and Jim Tankersley

Reporting from Washington

Vice President Kamala Harris has a plan for the economy: a glossy, 82-page booklet detailing proposals on housing, taxes and health care that her campaign handed out to supporters gathered at a campaign event in Pittsburgh this week.

Former President Donald J. Trump has nothing so detailed. The issues section of his campaign website is spare. He has coughed up a string of four- or five-word slogans promising tax cuts, some of which even his advisers cannot fully explain. He has toyed with a tariff as high as 20 percent on every good imported into the United States, promised to deport millions of immigrants to reduce the demand for housing and boasted that he can halve energy prices in a year.

Even with such an improvisational, loosely defined agenda, he is still leading Ms. Harris on the economy in polls, though his advantage is shrinking in some surveys. Many economists have warned that Mr. Trump’s promises , if turned into concrete policy, could slow growth, raise consumer prices and balloon the federal deficit.

But many voters find Mr. Trump’s punchy promises easy to grasp. His basic message of lower taxes, less regulation and less trade with other countries helped carry him to the White House once before. A majority of Americans fondly remember the economy in the first three years of his administration, before the pandemic and years of elevated inflation.

A central question in the final stretch of the presidential race is if Ms. Harris’s more detailed — but in many cases still not fully formed — stack of policy proposals will cohere into an economic argument that can top that.

To a remarkable degree in a deeply polarized country, Ms. Harris and Mr. Trump have many of the same stated goals for the economy. Lower costs. Reduce regulations. Cut taxes for the middle class. Incentivize corporations to build their products in the United States.

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