Book business in Singapore

[ecureilx]

Aren't Co Pte accounts public documents?

No !!!!!!!!

And to add to SmS's quotes, you can include 'some people just spending money by having the happiness of owning a book store, not making, not loosing, just breaking even, and happy as that keeps 'em busy'

Sort of like the retirees opening bars in various countries with no express intention of making money ..

[JR8]

Oh ok, seems contrary to what I'm used to but there you go.

For what it's worth ...

In the UK you have a right to open a Ltd Co with it's associated protections, but you then have an obligation to file accounts and for them to be open to public scrutiny.

If you think about it, that approach does make sense, in offering protection both ways.

[ecureilx]

If you think about it, that approach does make sense, in offering protection both ways.

And in Asia, such a scheme will lead to enough blood.. when the competitors fighting tooth and nail knows your 'numbers'

No can do ..

[morenangpinay]

I have been thinking bout a bookstore but my intention is to do it in my home country. I want to sell 2nd hand books and some new ones but my focus would be on preowned books. Because I have so many books at home and in Singapore from buying in sales and library sales. I will also maybe ask local authors to consign their novels as part of the books to be sold. I plan to make some titles rentable and some such as textbooks and reference books for students to be rentable for the year. but i haven’t done any research on this yet.

[UncleScrooge]

Hi,

My previous company worked very closely with children's book publishers in SG. I've met (and worked with) local children's book writers like Adeline Foo and Shermay, mostly with their launches.

Children's books are one of the few genres that sell in Singapore, and many big local publishers won't print anything else. However, that should be taken as a sign: there is no reading culture in Singapore.

In Europe every writer is important. In America no writers are important. In Singapore, you have to explain what a writer is.

Part of the reason children's and young adult literature sell so well is that our literacy level hovers there; adults only rarely read, and when they do, it's non-fiction.

The local children's book specialist of note is Books in the Woods. Kinokuniya has a lion's share of the market, now that Borders is closed.

Over here, a large part of this market is handling launches and workshops. It's 70% theatrics and events planning, so you'll need a very good storyteller and host.

It is my (somewhat informed) opinion that there is room for another children's bookstore. However, price discounts or membership cards will not cut it; I have seen time and again that these make no impact. What's important is to have a presence and a real connection with the customers and their children.

As for selling other books...Books Actually is the local bookstore that has serious literature covered. There's really only need for one, considering the current society of illiterate dollar chasers.

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[sundaymorningstaple]

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[mrlily]

I have been thinking about a bookstore but my intention is to do it in my home country. I want to sell 2nd hand books and some new ones but my focus would be on preowned books.

there is no money selling secondhandbooks (new books maybe, niche).

initially, and more than likely long term, rental costs of a bookshop would eat all your profit and some. selling at a flee market may produce a small profit, food for the day!

simple sums; say your rent is 3k per month and u sell each book (if secondhand) for a 2 dollar profit. you need to sell 3000/2 = 1500 books per month, or 1500/4.333 = 346 books per week or 70 books a day (5 day week) just to make rent.

The other issue, where are you going to get all these books from? Most selling 2hbooks want too much for them, they buy a book for $20 and try to sell for $18. Why buy for $18 when you can buy new!

Renting them out, rather than selling will help to reduce your book intake however this market is sewn up, check out san, emf, sunny bookstores all of which are using the renting model and have a number of shops around sg.

I plan to make some titles rentable and some such as textbooks and reference books for students to be rentable for the year. but i haven’t done any research on this yet.

most universities around the world have a web service / physical shop setup to sell or rent new or old text books. The idea has been done to death.