Are you a prolific independent writer? Do you want to become a prolific independent writer? Writing is a fantastic skill set that will never lose its value.
Independent authorship has come a long way, and you can write, release, and market your own books without a publishing house.
I love writing (that’s why I do it every day), but it’s time to take it to the next level. One day, I will open a bookstore that only carries my books—let me explain.
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A trip to the bookstore. Last week I visited two Barnes & Noble looking for the book “His Needs Her Needs.”
Both bookstores did not carry this popular book, which was strange to me. Like a good entrepreneur, I began to search for what type of things this bookstore carried.
The self-help/psychology/relationship/money/business section was probably 5% of the store. The other 95% were children’s books, science fiction, mystery, and romance. No wonder our society is in trouble.
On a side note, the book covers were absolutely gorgeous. I have created over 800 covers for my books, and I can spot expensive ones from a mile away. Some of these books rocked $2,000+ covers. Truly amazing!
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Everybody in the bookstore was there for various reasons. It was like 20 different conferences under one roof; the only thing holding everyone together with the building.
Let’s unite as one. If I opened a bookstore, it would only carry my books. I only write about financial freedom; therefore, everyone in the store would be interested in money and relationships.
This becomes my top selling point—the ability to bring like-minded people together. Wouldn’t it be cool to meet people on the same journey as you? It would be like going to San Diego Comic-Con (to meet like-minded folks) without the cosplay.
The logistics of a bookstore. Most bookstores operate in the red for nine months out of the year. They make most of their annual profits in the last three months, October, November, and December.
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This means I need many other gimmicks to stay above water. Of course, I would add a coffee shop, but I would need more.
I could invite guest speakers from the relationship and financial freedom space. I could rent some of the areas out for freelancers and small businesses.
Focus on meeting people. My leading hook would be meeting others—relationships and finance go hand in hand.
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Many marriages fail because of poor financial management. If you and your spouse can get on the same page financially, your chances for success are much higher.
I would need to offer some type of financial marriage consulting and relationship building. How I monetize my plan is still unknown; I am just brainstorming at this point.
Going to these Barnes & Noble stores was magical, albeit disjointing. There were too many things going on at the same time. It was like being in a carnival.
Thus, I would need to create some form of continuity inside my bookstore. Keeping the stores small would facilitate much more harmony.
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The business of books. So, do people still buy books? Yes, books are still big business. However, bookstores have a lot of overhead since they are not publishers.
Profit margins are incredibly fragile because they outsource the books to publishers and receive them wholesale.
On top of “borrowing” the books from publishers, they must pay for renting a space, employees, and additional overhead. It’s expensive to run a physical store.
I would have a massive advantage because all the books are my own. If I open my bookstore five years from now, I should have over 2,000 paperbacks on Amazon.
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I would already have the data on which books sell. My 50-page paperbacks cost me roughly $6 to produce from Amazon. I sell them on Amazon for $20. After Amazon takes their cut, I receive approximately $6 in profit.
The magic of math. So I can choose my top 50 books and print ten copies each. That would cost roughly $6,000.
I would sell the books in the store for $25, giving me a $19 profit each—Amazon lets writers order copies at costs.
Is $25 too expensive? Sure. But again, only my Superfans would purchase my books. The average person is not my target audience.
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If I sold 200 books a month, I would generate $3,800 in profit. I need to find a way to reduce rental and employee costs.
I could add a shipping container home to my land in Florida (I have three acres) and have my two kids work as my employees.
The first store would be a prototype. Keep expenses super low, and let the magic of compounding take effect.
Content marketing vs. advertising. I don’t want to advertise; I love content marketing much more. I would need to create content about meeting your match in my “Financial Freedom Bookstore.”
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People could receive guidance on financial independence from married couples who are financially free. I would want my bookstore to be a hub for people going against the grain.
Most Americans make enough money to become financially free; they just don’t want to make the sacrifice. Doing things like moving to a small city, getting roommates, or driving an older used vehicle can launch your savings profile quickly.
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Conclusion. It is much easier to become financially independent when you have someone marching to the same beat.
Trust me; few people I know want to sacrifice a few years to retire 20-30 years early. I found this to be true over the last four years.
Luckily, my wife and I went through the grinder to retire at ages 42 and 39. I want my bookstore to bring these FIRE starters together.
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What about your bookstore? What is your unspoken passion? Can you write 20-30 books over ten years?
Most people loathe writing and reading. Writing and releasing books is definitely against the grain today—especially in a TikTok world.
There is still magic to bringing like-minded people together. I just have to get the financials and logistics down to their lowest form. Plus, I need a gimmick, like iced coffee or a food truck.
It’s good to dream big. Most importantly, my wife and I are already financially independent. Whether my bookstore comes to fruition won’t affect my happiness or daily operations. And that’s where you want to be in life. Good Luck!
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