Forecasting Book Sales
Googling for financial forecasts on book sales I came across a great answer on the blog Seize Your Entrepreneurial Dreams. This is a great blog! Here is part of the answer:
*Costs: Rental rates vary widely from city to city across the country. Someone in a small mid-Western town might pay $1000 in rent while someone in California could pay $5000 for the same amount of space. Your costs are also increased if you hire employees.
A good way to begin planning your projections is to determine how much your average transaction will be. If you sold nothing but used books, your average transaction will probably range between $8-$12.
Next, determine how many customers you will serve in a day. If your store is open six days per week for 8 hours per day, and you sell to an average of four customers per hour with an average transaction of $8, your calculations could look like this:
$8 (average transaction) x 4 (customers) x 192 (hours) = $6144 per month
As you can see, there are many factors in planning a bookstore business and this is why there isn’t a standard financial blueprint that everyone can follow. But don’t get discouraged! Instead, do your best to develop an accurate forecast. You could perform some market research by surveying people in the area where you plan to open your shop.
Go Here for the rest of the answer!
Subscribe to Texture Bookstore by Email
*Costs: Rental rates vary widely from city to city across the country. Someone in a small mid-Western town might pay $1000 in rent while someone in California could pay $5000 for the same amount of space. Your costs are also increased if you hire employees.
A good way to begin planning your projections is to determine how much your average transaction will be. If you sold nothing but used books, your average transaction will probably range between $8-$12.
Next, determine how many customers you will serve in a day. If your store is open six days per week for 8 hours per day, and you sell to an average of four customers per hour with an average transaction of $8, your calculations could look like this:
$8 (average transaction) x 4 (customers) x 192 (hours) = $6144 per month
As you can see, there are many factors in planning a bookstore business and this is why there isn’t a standard financial blueprint that everyone can follow. But don’t get discouraged! Instead, do your best to develop an accurate forecast. You could perform some market research by surveying people in the area where you plan to open your shop.
Go Here for the rest of the answer!
Subscribe to Texture Bookstore by Email
Labels: financial forecast, rental, stuff on other blogs
posted by Trula at
10:31 AM
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