Hope

My McNally Jackson coworker Cheryl Sucher (who's also a novelist and journalist) published a piece called "Glimmers of Hope" in a recent issue of Publishers Weekly. This holiday season was a very busy one at the SoHo bookshop, and Cheryl's article reveals a lot about why, and about what it takes to bring an independent bookstore into the 21st century. . Her last line is something to treasure:

"Holding our breath, we move forward into this holiday season, keeping our eyes on the glimmers of hope on the horizon."

James Glieck is right

Amid a certain amount of gloom in the book industry these days, I am grateful for the clear-headed optimism of New York Times op-ed writer James Glieck, in his article "How to Publish Without Perishing."
He talks about how despite technological advances (the Kindle) and shifts in paradigm (the Google copyright agreement), there's no need to worry about the longevity of the book. I strongly encourage you to read the entire piece, but here are my favorite bits:

"As a technology, the book is like a hammer. That is to say, it is perfect: a tool ideally suited to its task. Hammers can be tweaked and varied but will never go obsolete. Even when builders pound nails by the thousand with pneumatic nail guns, every household needs a hammer. Likewise, the bicycle is alive and well. It was invented in a world without automobiles, and for speed and range it was quickly surpassed by motorcycles and all kinds of powered scooters. But there is nothing quaint about bicycles. They outsell cars."

Book as hammer, book as bicycle. I like this metaphor: that which is useful and necessary and ubiquitous, even when there are more high-tech options out there.

Glieck is also surprisingly sanguine about the results of Google's agreement with the Authors Guild, despite being on the opposite side in the legal challenge. Google now has the right to digitize not only books in the public domain, but those protected by copyright but out of print. What does that mean?

"In bookstores, the trend for a decade or more has been toward shorter shelf life. Books have had to sell fast or move aside. Now even modest titles have been granted a gift of unlimited longevity.

What should an old-fashioned book publisher do with this gift? Forget about cost-cutting and the mass market. Don’t aim for instant blockbuster successes. You won’t win on quick distribution, and you won’t win on price. Cyberspace has that covered.

Go back to an old-fashioned idea: that a book, printed in ink on durable paper, acid-free for longevity, is a thing of beauty. Make it as well as you can. People want to cherish it."

I feel like someone just articulated what I've been saying all along. Here's hoping publishers, booksellers, and readers are listening.

Phone banking

Rebecca's post about the awesome wish list feature on IndieBound below is what I'd rather be thinking about now -- I spent a good portion of this morning blogging about it and other holiday independent bookstore shopping initiatives over at The Written Nerd.

This evening, though, I've been making phone calls to those wonderful folks who filled out a survey at our party, commented on our blog, or otherwise got in touch to let us know that they might be interested in investing in our bookstore. They've all received the cover letter in the post below, so I'm just calling to follow up on their expressed interest.

But it feels a lot like calling to ask people for money.

It also feels like the brief stint I did at the Obama campaign phone bank here in Brooklyn. We were working just before the election to make sure folks in battleground states had the information they needed to get to the polls. I was calling Florida voters to make sure that they know were their polling place was, that they had a ride, that they had a plan for voting. We'd been given lists of folks who had supposedly already expressed support for Obama, so we weren't trying to change any minds -- just providing information, and a reminder.

But that didn't mean it was easy calling strangers. And it didn't mean that we didn't get a range of responses -- from outrage at yet another campaign phone call, to indifference or apathy about voting, to lots and lots of answering machines. There was some profanity, on their part. There was some terror and guilt and frustration, on mine.


As with the phone banking, I don't know most of our potential investors personally. And I've already gotten a range of responses. I've gotten some wrong numbers. I've gotten some folks whose financial situation has changed, so they can't do what they thought they could. I've gotten some who don't seem to remember expressing interest, which is the most awkward of all. I've gotten some tough questions about our loan terms, and our plans overall.


As I checked out after my campaign phone banking shift, I told the campaign leader ruefully that I hadn't gotten a single "yes, I will be voting for Obama" call. But you left a lot of messages, she told me. And you provided the information that is going to help some people vote.

And then Obama won Florida.

I can't know whether my sixty-odd voicemails made any difference. But I like to think I was part of the rising tide.

The Fort Greene bookstore already has a handful of $1000 investors ready to sign their loan documents. And we've got a handful contemplating much larger amounts. And we've left a lot of voicemails. And there are a lot more phone numbers left to be called.

There are moments of terror and frustration, working on this kind of project. But oh, it's worth it, for those moments of satisfaction you can take to the bank.

I love this!

Okay so this post has nothing specifically to do with our bookstore plans, but still. It's kind of fantastic.

Books are a grrrreat gift

I love how on the indiebound site, you can create a book wishlist, then you can take it a step farther and create a list of independent bookstores that you like, to go along with your wishlist. Nothing is finer than having a book you crave bought for you by someone you like, at a store you love.

Investing in the Fort Greene bookstore!

This is an adapted version of the letter we've just sent out to everyone who has expressed interest in investing in the bookstore. You hate to send a form letter about something so personal as money, but we wanted to make sure everyone has the basic information before we talk to them by phone. And in case there's anyone out there who isn't on our list yet who might be interested -- or if you're just curious about how we're doing this financing thing -- I thought we might share the information with you too! Feel free to email us if you want more info.

Investing in the Fort Greene bookstore!

Now that the overwhelming excitement of election season is behind us at last, it's a great time to look toward the future! We'd like to take this moment to check in with you about our Fort Greene bookstore project.

In the past few weeks we have worked out the details on the financial side of things, so now it's time to ask everyone who expressed interest in investing in the bookstore to turn their support into a reality. We now have a working loan agreement and promissory note; you can email us if you'd like to see it. As we outlined in our initial pitch letter, the investment we're asking for is actually a loan, to be paid off in five years. The final payment date is tied to the opening date of the store. We have fixed the interest rate at 5.00%, one percent above the Wall Street Journal prime rate on November 2.

We realize the economic climate has changed quite a bit since our launch party. We're lucky that none of the startup capital we have was tied up in the stock market, so we are still in exactly the same financial position that we were in before the market started to flounder. If someone's financial circumstances have changed since they expressed interest, we completely understand. But we still have every confidence in our business plan and our ability to turn the bookstore into a reality. With the overwhelming support we've already seen from the Fort Greene community, we know that bringing a bookstore to this neighborhood is the right decision, and that we'll find a market here. Feel free to contact us if you have questions.

We feel that loaning your money to the bookstore is one of the wisest financial decisions you can make right now. It's effectively the same as putting your money into a CD – you will get back the principal and interest after a given time period, and there's no danger of fluctuation. Additionally, as a Founding Member of the bookstore, you'll get 20% off on bookstore purchases until your loan is paid off – and that's good for your bottom line!

We'll be in touch by phone with everyone we can during the month of November to check in and confirm. Feel free to contact us first – we can let you know the next step. For those who are able to finalize this loan by the end of the year, interest will begin to accrue January 1. If you can't make a financial commitment until after the new year, we can revisit things later.

Thank you again for your support for the future bookstore of Fort Greene – we look forward to speaking with you!

P.S. One thing you will notice on the loan document: the bookstore now has a name! Soon we won't be referring to it as the eponymous 'Fort Greene Bookstore' any longer. In the next week or two, we'll be sending out an email to our mailing list about the new name and what it means to us. Potential investors will be among the first to know, and you'll hear much more about it soon.

Brooklyn-Based Bookstore!

This morning I'm featured in a story called "Business Plan" in the fabulous thrice weekly newsletter/website Brooklyn Based, which highlights the best and most interesting stuff in our beloved borough. Aside from a typically squinty-looking picture of me (and a nice one of our home bookshelf, here), it's a cool little piece by Nina Pearlman that lets me talk about the process of getting to this point in the bookstore development process, offer some tips for fellow budding entrepreneurs, and give a shout to some of my favorite Brooklyn bookstores!

If you're finding this site through Brooklyn Based, welcome! If you're interested in knowing more, sign up for our email list at the top right. Rebecca and I are going to announce that long-awaited secret bookstore name to our mailing list in a matter of days. And if you're interested in finding out more about being one of our community lenders (honestly, it's one of the best investments you can make these days), you can email us directly here.

Bookstores in Bad Times

Note: At last weekend's meeting of the board of NAIBA (the regional booksellers's assocation of which I am an executive board member), secretary Eileen Dengler "comissioned" a piece for the upcoming NAIBA newsletter. This is something I've had on my mind lately, so it was a great motivation to write out my thoughts, and Eileen graciously agreed to let me cross-post it here. Your comments are most welcome.

Bookstores in Bad Times

At this particular moment, it’s a challenge to be an idealist and an optimist: two labels I’ve embraced as I’ve found my calling as an independent bookseller. Newspaper headlines, daily sales totals, and our own tightening belts tell us that things are tough, and getting tougher. As we head into the holiday season, where most of us make 40% of our yearly sales, it can seem logical to throw up our hands and wait for the apocalypse.

But booksellers are tough, and relish a challenge. And somehow I keep finding reasons to be optimistic.

For example: if our memories are long enough, we can remember that at least through August, US Census numbers (as reported in Shelf Awareness) showed that bookstore sales continued to rise month by month over last year’s numbers, even as retail sales overall were stagnant. That seems to suggest that bookstores may be more resilient than some other segments of the economy.

And economic hard times can actually be pretty good for purveyors of books. Sara Nelson of Publishers Weekly quoted Random House founder Bennett Cerf in her October 6 column: in his 1977 memoir, he asserted “The publishing business has always been rather stable. It doesn't soar when things are going crazy and people with a lot of money are spending it. . . By the same token, when everything goes to hell, books become one of the cheapest forms of pleasure.”

You’ve probably already heard the formulation “Books and Booze”: the two commodities that continue to sell when folks have little money to spend. The 15 or 25 dollars someone spends on a good book represents an investment in pleasure, entertainment, and escape that lasts a lot longer than a movie, and costs a lot less than an iPhone or a Blu-Ray player. (And if you’re selling wine or beer in your bookstore, you’re doubly insured.)

And we have the advantage of being on Main Street, not Wall Street. We’re not answerable to jittery stockholders who demand impossible quarterly growth; we are the ones we have invested in, and we’re in it for the long haul. I think more consumers are starting to understand the benefits of that. Now is the moment when the message of shopping locally to support your local economy is more resonant than ever. We have the marketing tools of IndieBound, as well as our own local first organizations and publicity efforts and personal relationships, to get that message across, and people are listening.

If we are heading into another depression – well, we’ve been here before. The publisher returns system was implemented during the Great Depression of the 1930s – so in a way, our industry has a safety valve built for just such an economic environment. As CEO Avin Domnitz of the American Booksellers Association reminded us in his open letter, now is the time to take advantage of that system, and make sure our inventory is serving us well.

Avin is a pragmatist, as are most booksellers, and I’m grateful to them for reminding me when it’s time to face hard facts. But to quote Avin himself, “Now is the time to look at your business carefully, to first identify trends, and, then, to find ways to enhance those that are positive and to soften those that are negative.”

To me, looking with all honesty at the reasons to be optimistic is one of the ways to enhance positive trends. While we work on controlling our inventory, payroll, and cash flow, we booksellers would all do well to remember the good stuff. It’s never a bad time to get inspired, to be hopeful, to remember what we have to offer, and what we have to rely on, even in tough times.

One of my fellow NAIBA board members passed along an article describing the economic downturn as an approaching storm. It’s scary, and it could get ugly.

But independent bookstores are a port in the storm. We sell a product that people can feel proud – and smart – to spend their money on. We create spaces that offer a welcome third place (and that doesn’t have a two-drink minimum). We offer human connection, and free conversation. We have “one of the cheapest forms of pleasure”, and one of the richest sources of community. We are what people are looking for.

So I’m still an optimist. And like all of us, I’m an idealist. We can and should be savvy business people (so we can keep doing what we’re doing), but we’re never going to make a massive fortune as independent booksellers, no matter how good or bad the economy gets. That's not why we do it. We do it because being an independent bookseller is one of the great good things one can do in the world. And our stores are islands of hope and perspective in scary times. We’ll be fine, because what we have to give is just what is needed now: Community. Ideas. Stories. Shelter from the storm.

Making appointments, making choices

For Rebecca and I, that's what being bookstore proprietors (or partners or LLC managers or principals or what have you) is all about these days.

Appointments with lawyers. Appointments with bankers. Appointments with potential investors. Appointments with building owners or development corporations or real estate agents.

And then the choices. Choosing whether this space is worth pursuing or too far off the beaten path. Choosing the language of a promissory note that will give the best benefits to both our community lenders and the business. Choosing the many, many details of the LLC operating agreement (from what we'll use for the address, to how we'll split equity, to who gets our shares if we die, to what kinds of decisions will be made individually or jointly, and on and on).

And before all that, choosing a name.

Those of you who know me know that I've struggled with choosing a bookstore name since I first conceived of the venture. I have lists of dozens, maybe hundreds of potential names and parts of names, and I've fallen in love with one or the other at various times. But I wasn't sure enough to put any of them on legal stationary -- I thought maybe I needed to wait until I saw the space the bookstore would be in, or some other moment of clarity.

When Rebecca and I started talking about partnership, I passed along my lists of names, but she wasn't in love with any of them either. We tossed around some ideas for coming up with a name: something based on a book we both love, or some combination of our names; something alluding to the neighborhood, or something more universal. Nothing quite clicked.

Then, rather unexpectedly as it often does, a name presented itself. A friend might have mentioned it, then we heard the word again, then we started talking about why it might work.

Then it was time to put down a name for the LLC. And we realized we had already chosen.

No, I'm not gonna tell you what it is just yet. We're saving that fun announcement for our first big email blast (sign up for the mailing list at the top right if you don't want to miss it!) Rebecca and I have joked that finding out we had the bookstore name is kind of like finding out that you're going to have a baby: you want to wait to be sure before you make it public.

Like all of our other choices, choosing a name seemed daunting until it came down to it. I think it arose organically from our partnership, and from our vision for the store -- as have all our decisions about corporate structure, spaces, finances. It takes some concentration to sit down and make the choice, but the tools and the seeds are there in our shared philosophy of the kind of bookstore we want to create.

Now we've just got to sit down in those appointments and put our choices on paper.

The Hunt Is On!

Now that the furious excitement surrounding the party and our partnership announcement is winding down, Priority Number One for the future bookstore of Fort Greene is finding the right space.

As we've told lots of people, we're going to be very picky. We need the right size (1500-2000 square feet or more), the right aesthetic, good walking traffic, sufficient time for buildout, a good layout and general vibe, and of course, an affordable rent. But we're willing to look at almost anything in the neighborhood that's available -- everything we see gives us a better perspective and a sense of context for what's out there.

Rebecca and I are currently following up on every real estate lead available. As with finding an apartment, commercial real estate in New York is all about word of mouth and relationships, and we're grateful to those who have given us leads or are doing research on our behalf.

And it's great to have a partner to share the site-seeing responsibility with! Sometimes we'll look together, sometimes separately, and debriefings are frequent. It's really good to have a second opinion and another skilled bookseller's eye to look at these things -- yet another reason I'm thrilled about our partnership.

At the same time, we're also on the hunt for those who will leap into action once we do find a space: the architects, the designers, the general contractors, etc. We've got some wonderful leads on that as well.

So hey, if you've got any information, feel free to send it our way! You can send email to our new address, fortgreenebookstore@gmail.com.

We'll keep you posted on the hunt!

The Bluebird, the Rose, and now...the Bookseller(s)

A few years ago, I attended an event honoring Russell Banks as the New York State author, and Billy Collins as the New York State poet. In Russell Banks' remarks, he said that he felt a bit like a bluebird or a rose, because the bluebird is the state bird and the rose is the state flower, and he was being named the state author. He paused, then said 'And I think that bodes well for our breed'.

I always remember this story with fondness, and I've dwelled on it a lot these past few days. Booksellers are a certain 'breed' of people, born to do it, who take naturally to it. I have spent years in books (15!!!); both as a bookseller in stores, and in my current job as a sales rep for a publisher (which, to answer the question before -or as- it's asked...I am totally keeping!). I can't imagine doing anything else, really.

I found a kindred spirit in that sense. Jessica was born to be a bookseller too, and when I realized that, it made me want to talk to her about a partnership.

So. The 'Jessica and Rebecca' backstory is:

One night I overheard her talking about the bookstore project at an author dinner (quick plug - the dinner was for Michael Greenberg and his wonderful book Hurry Down Sunshine, published by Other Press. It's a literary memoir...so good! Beautifully written! Not always an easy read, but such an important one).

It was a magical night. The setting, the people, the book, the author, the conversation, even the weather agreed with us. And as I thought back on the evening after I got home, I recalled Jessica's passion for her project, and I recalled the kindred feeling I got listening to her.

And I thought to myself, it can't hurt to talk to her, right? I've always been too chicken to go the bookstore route on my own but the thought of partnering with THE RIGHT PERSON was truly appealing. So talk we did. We set up a coffee date, and another, then another. We continued to talk more and share more, and inch closer and closer to our big decision, which we just made a few weeks ago, in perfect timing for the party.

And WOAH. What a fantastic party that was. Talking about it with people over the past few days, I am hearing things like 'The community support for this is amazing. I have never seen anything like it'. And another person will chime in and say 'Me neither'. Or, 'Hearing all this just gave me shivers'.

Ooh! And someone just emailed me and said (after reading the NYT piece) 'WOW--that story just brought tears to my eyes!'

So, kudos to the amazing community of people in Fort Greene, who rallied together for a bookstore. I am in awe of you and am so glad, and excited, to be a part of this.

The New York Times, and party pics!

The lovely Susan Dominus of the New York Times city section has posted a great article about the FGIBI bookstore party, and my quest, here:

"A Woman Dreams of Opening a Bookstore, and Defying the Trends"

I'll admit it's made me a bit useless at work: look everyone, I'm in the Times! I promise I'll chill out about it in a day or two, but it's not every day this happens to a book nerd...

The picture from the Times is great, since it includes so many of the people who have supported this project: Sharon from the FGIBI is the one I'm hugging, and behind us are Rebecca (of course), Toby from Three Lives, Sean from Parson Weems, Christine and Vinnie from Word, Hillary from the FGIBI, and Stewart from good ol' McNally Jackson.

And there are more pictures of the party now online! Rebecca's friend, the author Jami Attenberg, has posted a whole slew of them here on Flickr. Lots of my favorite people are in those pictures, as well as lots of wonderful local book people I don't know yet -- check it out!

More to come, I'm sure. This week and next week we're doing our best to contact everyone who expressed their support in writing through the survey -- so expect to hear from us soon if you haven't already.

And THANK YOU all so much again!

Just the numbers...

I'm still afterglowing from last night's party. I'll hopefully have pictures and a full recap later this week, but here's the event by the numbers.

312: number of attendees that packed into the BAM Harvey Theater

3: number of award-winning Fort Greene authors in attendance (Jhumpa, Jennifer, and Colson all showed)

2: number of local politicians who shook my hand (Tish James and Velmenette Montgomery, woo hoo!)

2: number of local rock stars in attendance (Johnny Temple of Girls Vs. Boys and Craig Finn of The Hold Steady)

7500: dollars in small business loans offered verbally on the spot

250: amount of a donation check handed to me, no strings attached (from Chris Kerr of Parson Weems: you rock!)

as yet uncounted: number of surveys in the giant box, waiting to be counted and tallied for more offers of help

1: fabulous new business partner revealed: Rebecca Fitting, Random House sales rep! This is the one I've been telling you about -- we've been talking all summer, and we're out, we're ready, we're hitting the ground running. Rebecca will be blogging here herself later this week, so I'll let her tell you her side of the story. But we're so excited to be in it together.

8: number of members of the Fort Greene Indie Bookstore Initiative, who deserve all the credit for the event (Mike, Steve, Jon, Carolyn, Sharon, Tom, Hillary, Susanna, hooray!)

4: number of photographers telling Rebeecca and I and the FGIBI to "look here, just one more" -- could we feel any more like rock stars?

1: New York Times reporter who's writing about the event for the Friday Metro section

0: bites of food consumed by Rebecca and I during the evening (it was like a wedding, too much glad talking to eat)

dozens: number of book people discovered after-partying afterward at Moe's bar in Fort Greene

infinite: measurement of the love, joy, and goodwill from assembled booklovers; also the measure of thanks due to the Fort Greene Indie Bookstore Initiative for pulling this all together; also the measurement of our hopes for the future

Thank you all so much -- we'll keep you posted!

Today's the day!

... and I'm just trying to keep my head from exploding from anxiety, trying to remember everything, and complete and total joy.

Tonight's bookstore kickoff party at the BAM Harvey is going to be so off the hook (if I'm allowed to use that phrase as a card-carrying nerd). Food. Booze. Raw, sexy space. Colson Whitehead. Jennifer Egan. Kate Christensen. (Maybe) Jhumpa Lahiri. Fort Greeners. Book industry bigwigs. Friends. Loved ones. Supporters. Surveys to find out what YOU want from your bookstore.

And mad, mad media coverage. We've got Brooklyn 12, the Daily News, the Observer, New York Press, and yes, the New York Times herself coming to take photos and get the scoop. I am sure that I will look totally goofy; I hope they just listen to my words instead.

AND -- tonight is the night for a big announcement that will push the bookstore forward by a giant leap. I've hinted about it to some of you -- some of you know the secret -- and the rest of you will find out. This something (or someone?) is stone cold kick ass, and you're going to love love love.

Okay, I have to get back to work for a couple more hours before I start getting too excited and using more inappropriately street phrases. Can't wait to see you all tonight!

Tuesday's Bookstore Party: VENUE CHANGE!

Because of the overwhelming Fort Greene community response (i.e., we've had more RSVPs than the venue could handle), we've decided to change the location of Tuesday night's bookstore kickoff party to accomodate more people at the event.

The party will now take place in the lobby of the BAM Harvey Theater at 651 Fulton Street, between Ashland and Rockwell. (It's close to the DeKalb B/D/M/N/Q/R/W stop, or the Nevins Street 2/3/4/5. I recommend Google Maps or Hopstop.com for a map or further directions.)

The good news is, this means you can still RSVP! Just send an email to rsvp_fortgreeneindie@hotmail.com

The date and time of the party stay the same at Tuesday, September 16 from 7-9pm. Colson Whitehead will read one of his latest pieces at the party, and Jennifer Egan and Kate Christensen will be in attendance, as well as movers and shakers from the book industry and the Fort Greene community. And we've got the greenlight to make a really big announcement that brings the store closer to reality than ever!

BAM (the Brooklyn Academy of Music) is a neighborhood and a city institution, and the Harvey lobby is a big beautiful space -- I'm so excited to be there! So adjust your travel accordingly, and feel free to bring friends and loved ones. See you at a fabulous party on Tuesday night!

More press, and a little about being indie

More press today for the bookstore, the Fort Greene Indie Bookstore Initiative, and the party. Joyce Shelby of the New York Daily News wrote this great piece:

"Ft. Greene booklovers court indie bookstore with soiree, readings"

I like the quote she picked from me:

"The level of support expressed by this community, before the store has even opened, is completely unique in my experience in the book industry," Stockton Bagnulo said.

And the one from my co-conspirator Mike Gross is great too:

"We're very excited about an independent bookstore, locally owned, that can be flexible and responsive to the needs of the community," said Mike Gross. He's co-chairman of the Fort Greene Indie Bookstore Initiative.

And I love the word soiree...


Additionally, the New York real estate blog The Real Deal has this post:

"Fort Greene wants new independent bookstore"

I'm grateful for their notice. But I do find it odd that they have the words "independent bookstore" link to a two-year-old article by Tyler Cowen in Slate about the "death of independent bookstores." Not only is the piece out of date, it kind of misses the point. I commented on the piece at the time on my Written Nerd blog; you can see my post here:

"Books, Blogs, and Anti-Indie Backlash"

The point of my post is that Cowen and others who have said snarky things about indie bookstores are right in one sense: being an independent doesn't make you a great bookstore, and there's no reason to look down on book lovers who don't have the option of shopping local. But I think independent bookstores have the potential to offer more than any chain bookstore or online option could ever give: community, culture, real live interactions with authors, the serendipitous discovery of a book you love at the suggestion of a knowledgeable bookseller, a distinctive and appealing space for browsing. And I think there is an ethical component to how we spend our dollars: when you support local business, local business thrives, making your neighborhood a unique place and putting more money back into local economies.

So I'm not too worried about Slate's doubtfulness. The readers of Fort Greene seem to know what they want, and what they want is an indie bookstore!