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I'm looking to start an independent bookstore in Charlotte within the next ten years (not out of college yet). I want a large store on the scale of most Barnes & Nobles and the larger Borders because I plan on having a separate cafe and restaurant and a nice open floor plan. The store would feature new and used books, much like Powell's in Oregon, a great children's section as well as reference and rare books.
I'm having trouble finding spaces online to estimate current startup costs. I want my store to be as close to the center of First Ward as possible, but like I said, it has to be a big space, preferably on ground level.
Can anyone help me with finding sample spaces and/or the attitude of Charlottonians towards books/bookstores? I haven't found many in the First Ward area.
As a CLT native I have no problem with independent book stores. In fact I welcome any business that has the courage to compete with larger corporations. You can find leasing comps on the CLT Business Journal site. I am no R.E. agent but I can tell you that leasing or buying a large building in the 1st ward area is going to cost $$$$$. Also you may already know this but lease or purchase cost are not going to be the same present day as they are 10 tears from now so that may be a little tough to gage for budgets. Good luck with your research and potential business.
While I cannot comment on your space requirements, I would like to comment on the attitude of Charlotteans towards books... I, for one, LOVE books! I know my husband does as well, and he in particular loves independent bookstores. There is one in the Park Road Shopping Center that I have to drag him out of whenever we go there.
I can't imagine that anyone would object to having another independent bookstore in town.
10 years from now?!?! We'll have flying cars by then!
It will be very difficult and possibly misleading to figure start-up costs that will be relevant for that many years out. I think the best part of the exercise would be in learning what is involved in the start-up so at any time you can apply unit costs to each of those tasks (thinking the tasks will pretty much always be the same, no matter when you start the business).
Go to www.cityfeet.com or www.loopnet.com . The sq. ft multiplied by the dollar amount per sq ft will give you the annual rent. Then divide by 12 for a monthly number. Don't forget all the additional charges that go into a lease, which depends on your landlord. But it'll just be a fraction. If you want to figure out future costs, the only way to do it now is if you assume the market staying the same (b/c you can't predict the future) just multiply todays rent times 3 percent per year- compounded, or a 12% increase every 5 years. Those are the 2 standards.
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