Cheshire Books is For Sale
Cheshire Books is the only
new-books store in this small, rural community, and one of only five new-books
stores in the whole of Mendocino County. Cheshire Books has become quite popular
over the past five years and is known for its friendly atmosphere and personal
customer service. Inventory turns have increased from less than 2 to 3.5 and
sales have increased by over 50% in the five years Ron and Linda have owned the
store.
Cheshire Books offers an
eclectic selection: something for every reading taste. Special orders are a
particularly successful customer service that keeps customers coming back into
the store. The children’s, junior and young adult sections have grown and now
occupy major square footage, reflecting the national trend in the increase in
book purchases for and by the 9 – 17 year-old age group. As the retiree
population has increased in Fort Bragg, so has the number of grandparents
requesting advice on books and purchases for grandchildren (a targeted market
that can truly be developed).
Cheshire Books is located
across the street from one of the oldest Fort Bragg businesses, Racine’s, a
unique variety stationery, art and office supply store. A bakery is opening (in
the “old” Fort Bragg Bakery building) kitty-corner; a fine art gallery
recently opened two doors away, two kitchen/gourmet stores are close at hand, as
are several clothing and shoe boutiques, restaurants, the primary local coffee
shop, an upscale lingerie shop and three antique shops reside within the same
block – all local independent businesses.
A Shop Local First movement is
getting underway with the help of the City of Fort Bragg’s Localism Committee.
The City’s Promotion Committee is active in promoting business and tourism, as
is the local Chamber of Commerce. Tourism is an important part of the financial
picture of Cheshire Books, as it is for the entire Mendocino coast area, and we
recognize many faces of return tourist customers. Fort Bragg is home to some of
the best beaches and wonders of nature in all of California. And, even though
the past but traditional income sources of the fishing and timber industries are
no longer part of the economic scenario as far as jobs are concerned, the local
commitment to the long-term development of the major waterfront Georgia-Pacific
mill site and of other natural environmental resources for locals and visitors,
is on the top of the civic agenda here. Consequently, future prospects are very
good for Fort Bragg, especially as a tourist destination.
The
Little Bookstore that Can
1.
2004
– Purchased store on December 31, 2003. Lease
expired December 31, 2004. Relocated store to 345A North Franklin Street on
November 1, 2004. 345 North Franklin is a bifurcated space with two storefronts
totaling approximately 2,000 square feet, including a shared bathroom and
coatroom area.
Gross
-- (minus January to April 4, 2004) -- $202,612
2.
2005
- Continued to establish store in new location. Invested in fixtures, marketing,
etc. (Building neighbor (345B), Twyce Times was a compatible business regarding
the building up of the children’s section, plus general compatibility of all
participants.) Developed events such as our Hogwarts Breakfast to introduce Harry
Potter and the Half-Blood Prince, which lead to an event for children each
summer.
Gross
-- $262,500.
3.
2006
– Owner of Twyce Times unexpectedly decided to quit in April, leaving suite
next door vacant. We expanded to fill the space rather than lose control of it.
Also, data on successful bookstores indicated that a larger footprint than
existing 12’ x 88’ would be preferable.
Gross --
$278,378.
4.
2007
– Downtown renovation from February – August: no sidewalk, no street, and a
significant decline in local and tourist traffic.
Gross -- $328,223.
5.
2008
– Fort Bragg began to see economic decline in July, and a precipitous decline
in sales in October as played out across the country. However, December sales
were only $5,000 short of December 2007.
Gross --
$291,115.
That
Being Said
Given the challenges posed
by relocating, expansion, street renovation and the current recession, the trend
in gross sales for Cheshire Books is positive and encouraging. Other
encouraging factors include no large or box stores such as Barnes & Noble,
Borders, and Costco and there is no evidence that the demographics in Fort Bragg
will support such retail development.
In the five years of
ownership we have been able to increase inventory turns from less than 2 in 2004
to 3.5 in 2008. This indicates the increasing popularity of Cheshire Books and a
real potential for further growth.
Although a healthy
competition exits between the closest bookstores on the coast, Gallery Bookshop
in Mendocino, the two stores are friendly and work together to serve customers,
including the annual Mendocino Coast Writer’s Conference. Cheshire and Gallery
Bookshops frequently call each other to fill a customer’s request, which helps
keep individuals buying at their local independent bookshop rather than
resorting to the Internet. Superior customer service and a feeling that the
customer is more important than stores competing against one another endears
both stores to the hearts of local customers. It is also a point of local pride
for our mutual customers that these two stores put customers first.
The four used bookstores in Fort Bragg and Mendocino are also highly compatible, indicating a localized interest in reading and another shared venue for providing superior customer service. We often call one of the stores for a customer to see if a title is available, ask the owner to hold the book, then send our customer to that store. Customers greatly appreciate this community approach, and Cheshire Books is perceived as giving superior customer service, which has helped to secure customer loyalty. Cheshire Books’ steady increases in gross sales, customer loyalty, relations with schools, and community-based activities have also become a point of community pride and a good reason to shop downtown. We purchased an inventory/point of sale system (Booklog), upgraded our wholesaler website connection for improved book search and customer service, developed an e-newsletter and e-invitations to store/author events, held frequent in-store author events, developed an annual Summer children’s event (Pirate party; Diagon Alley/Harry Potter party with Big Brothers & Sisters and Fort Bragg Rentall and Party Works); a Manga party in partnership with Racine’s (the art supply store across the street), a gala reception for the Mendocino Coast Writers Conference, we’re open later hours for First Friday in Fort Bragg, and are involved with the Localism Committee. In 2004 there was no mailing list. The mailing list now includes approximately 700 opt-in addresses. We hold an annual book-a-thon for the Food Bank children during December where our customers are offered the opportunity to purchase children’s books at a discount. We have developed this into a community-based activity where middle schoolers wrap the gifts and bring them to the Food Bank. This means that every Food Bank child receives a wrapped gift book for Christmas. In December 2008 we also held a book raiser for the Fort Bragg Library. Cheshire Books works with the library, Rural Communities Childcare, the schools and other non-profits on issues of literacy, including the celebration of Read Across America Day and National Turn off Your Television Week, either with in-store events or off-site events. We instituted a frequent buyer program and sell numerous gift certificates.
Serious
inquiries only. Please contact cheshirefortbragg@yahoo.com
for more information.