Risks and challenges
In general, a bookstore is a challenging business to start in 2015. I Am Books will need to stand out for its unique offerings and perspective.
Initial challenges will involve getting inventory on time, finding the right individuals to employ and setting up a calendar of events.
We'll also be opening at the beginning of the colder season, which in Boston can be brutal (like the winter of 2014-15). This is a significant challenge, as we will have to account for much slower or inexistent traffic on snow days. In the case of early closures for snow storms, we will have to make sure our communication channels (social media, email lists, store window) send the message out clearly.
Holding events in the winter will represent a significant boost to traffic on cold days, but the risk of events being canceled due to inclement weather is high. We will have to find creative solutions (rescheduling, doing live streams online) to lessen the negative impact of cancellations.
In general, we'll have to keep our eyes open and pay close attention to what sells more in the store in the first few months. Getting sales to cover the many overhead costs will be crucial to the bookstore's success.