Rare Book Monthly
Articles - October - 2008 Issue
Hunkering Down
Even during the Great Depression, people were still reading.
Consider the Utility of Having a Subchapter S Corp
As a bookseller and a publisher, we are set up using a Subchapter S Corporation. You will have to consult with your accountant to see if this will benefit you. I can tell you that from our perspective the tax advantages are very significant (in our favor).
Treat Your Existing Clients Well! Go for Repeat Sales
Anybody in sales will tell you that the cost of a new sale far outweighs that of a follow-up sale, which can be made by telephone or on a private secure site avoiding the commissions on the megasites. We treat our clients well; we always give them contact information, no matter the size of the sale, and we check in with our clients, from time to time, when other books are available in their area of interest.
Take Control of the Hidden Costs Like Currency Conversion
We have active currency conversion accounts which enable us to send and receive money in virtually any foreign currency. Unlike going to a bank, where you have to take whatever rate you get, we can decide when to launch the transaction for the best rates and we do not pay pesky foreign currency deposit or wire transfer costs, as we are always working within the country.
Diversify
Although we have strengths and specialize, we do not keep all of our holdings in one particular area. We are publishers as well as booksellers, and we're always looking for new projects.
Working Off the Grid
For the last thirty years we have been developing our property to make it increasingly "off the grid". We currently heat our buildings with passive solar, a modified glass-blowing furnace, as well as conventional gas/hot water. We're planning active solar, and as soon as zoning permits, a windmill. We long ago super-insulated the buildings and put triple-glazed insulated windows in them. We've changed all our light bulbs and our appliances are pretty much all Energy Star.
I think we're all going to go for an economic ride, but as far as I can tell nobody has given up on reading yet!
Renée Magriel Roberts can be reached at renee@roses-books.com, planning her garden for next year.
