Monday, August 12, 2013

For Bookstores, Crowdfunding to the Rescue

For bookstores, crowdfunding to the rescue


Crowd funding could be used for almost anything. In this article you will see how bookstores are now using crowdfunding to help keep their businesses alive.

For years, independent bookstores have taken creative steps to fight off challenges from Amazon.com and the superstores by building in-house espresso bars, hosting members-only lunches with authors, and selling birthday cards, toys, and trinkets.

In 2013, it has come to this: asking their customers for donations.

Crowdfunding is sweeping through the bookstore business, the latest tactic for survival in a market that is dominated by Amazon, with its rock-bottom prices, and Barnes & Noble, with its dizzying in-store selection. It is hardly a sustainable business model, but it buys some time and gives customers a feeling of helping a favorite cause and even preserving a civic treasure.

In San Francisco, a campaign for Adobe Books successfully raised $60,000 on Indiegogo.com in March after the store faced a rent increase and nearly went out of business.

In Asheville, N.C., the Spellbound Children’s Bookshop collected more than $5,000 when it appealed to customers for help moving to a new location.

In the Flatiron district of New York, Books of Wonder raised more than $50,000 in an online campaign last fall after the recession and other losses depleted its financial resources.



Websites such as Fundoozled and Kickstarter, originally made for the public financing of creative projects, have simplified the logistics of raising money, and bookstores facing financial distress are seizing the opportunity. They can set up a Web page explaining what their fund-raising goal is, why they are asking for it, and what the deadline is. Donors pitch in as little as $5 or $10 with a few clicks and a credit card number. Peter Glassman, who owns Books of Wonder, said he turned to a fund-raising campaign only as a last resort.

If you have a cause or project, you really need to start thinking about creating your own crowd funding campaign it can really give you that jumpstart that you need. You can continue reading this article:  For bookstores, crowdfunding to the rescue

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