Government funding for libraries has been cut significantly in recent times. Indeed, that is why so many private companies have popped up during the last couple of years. It can be hard to make a decent profit in that business, and so we thought you could do with some expert advice. Unlike public libraries, you will charge for lending publications. That is how you will make the bulk of your income. However, you will learn there are other ways to bringing some cash into the business. At the end of the day, you are never going to make a fortune. Even so, you could bring something positive to your community while earning a good wage.
Finding suitable premises
Before you do anything else, you will need to find suitable premises. You simply can’t afford to pay premium rates. So, it makes sense for you to avoid major cities. You can relocate to those areas if things go well in the future. However, you are always better to start in a small town. Rates are much lower, and so your overheads won’t be quite as substantial. Some company bosses in your position would try to strike a good deal with the owners. The nature of your business might encourage them to offer a more favourable deal. You just need to explain that you are providing a much-needed service to the community.
Getting the right workers
Private libraries can struggle to make a good profit. That is why many of them are staffed by volunteers. You should get in touch with your local Jobcentre and let them know about your opportunity. There are plenty of unemployed people willing to take unpaid work to get out of the house. Also, it will provide them with some experience that can be used on their CV. You need one qualified librarian on the premises. The other members of your team do not need qualifications.
Going digital and using modern technology
Linking your new business to the outside world is key. You will need to use social media and other services to promote your library. Opening a business Facebook page only takes a few minutes. However, it could help you to connect with thousands of potential clients. There is also a selection of online management software for libraries. You need to research it all and determine which packages suit your company. On average, the specialist software of that nature can cut administration times by around 25%. That means you won’t have to work as hard to get the job done.
The only other things you need to worry about relates to your selection of books. Those of you who are focused on providing a community service will want to offer a large array of different titles. However, those of you focused on profits might want to concentrate on certain niches. When all’s said and done the decision is down to you. We just wanted to offer some advice that could help to ensure you cover all the bases.
Good luck with your new venture!
