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Utilizing Category Turns To Leverage Profits

Utilizing Category Turns To Leverage Profits (June 12, 2024)
Content related to the education session Utilizing Category Turns To Leverage Profits, Children's Institute 2024.
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Topic:
  • Buying & Inventory Management
  • Financial Management
Tags:  None
Measuring turns is a good indicator of the vitality of your children’s department or bookstore. The session will explain turns in terms of your business’ health, compare children’s bookstore and children’s categories’ turns to general bookstores and non-children’s categories, teach booksellers how to measure turns, and the importance of watching them. With a foundational understanding, attendees will be allotted time during the session to brainstorm goal-setting and plans for growth for underperforming categories.
Files & Links
Speakers
Cynthia Compton, 4 Kids Books & Toys - Zionsville, IN

Budgeting For Bookstores

Budgeting For Bookstores (June 11, 2024)
Content related to the education session Budgeting For Bookstores, Children's Institute 2024.
Topic:
  • Financial Management
Tags:
  • 101
 
In this session, attendees will learn essential budgeting principles, including maintaining various budgeting reports and monitoring sales, payroll, inventory, and other key financial metrics. We’ll explore practical strategies for managing expenses, maximizing revenue, and maintaining financial health, as well as review ways to share this critical data with staff. Whether you’re a new bookstore owner or a seasoned veteran, this session will provide valuable insights to help you navigate the financial landscape with confidence.
 
Files & Links
Speakers
  • Jessica Stockton-Bagnulo, Greenlight Bookstore - Brooklyn, NY
  • Gabriel Moushabeck, Booklink Booksellers Inc. - Northampton, MA
  • Sarah Hutton, Village Books - Bellingham, WA
  • Tina Ferguson, Face in a Book - El Dorado Hills, CA
 

Understanding Cost of Goods For the Mathematically Anxious

Understanding Cost of Goods For the Mathematically Anxious (June 11, 2024)
Content related to the education session Understanding Cost of Goods For the Mathematically Anxious, Children's Institute 2024.
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Topic:
  • Financial Management
Tags:  None
This session will teach booksellers how to calculate the cost of goods sold (COGS) and maximize gross profit/margin. Panelists will lay the foundation for an understanding of COGS so that booksellers can confidently compare their information to ABACUS data. During this session, booksellers will be given time to examine what they’ve learned and identify areas in their own business for better COGS management so that they can begin applying these concepts when they return to their stores.
Files & Links
Speakers
Josh Christie, Print: A Bookstore - Portland, ME

Rebekah Rine, Watermark Books & Cafe - Wichita, KS

Tegan Tigani, Queen Anne Book Company - Seattle, WA

PK Sindwani, American Booksellers Association - Harrison, NY

Lightning Talk - Filling out ABACUS with Kira Wizner (Merritt Bookstore)

Lightning Talk - Filling out ABACUS with Kira Wizner (Merritt Bookstore) (June 6, 2024)
Content related to the education session Lightning Talk - Filling out ABACUS with Kira Wizner (Merritt Bookstore), Lightning Talks.
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Topic:
  • Financial Management
Tags:
  • ABACUS
 
ABA's Lightning Talk series features booksellers presenting 5-10 minute talks on tech tools, organizational strategies, communication methods, or innovations they’ve made in their stores. On June 6, 2024, Kira Wizner (Merritt Bookstore) discussed Filling out ABACUS.
 
Files & Links

ABACUS Survey Step-by-Step Workshop

ABACUS Survey Step-by-Step Workshop (June 5, 2024)
Content related to the education session ABACUS Survey Step-by-Step Workshop, Webinars.
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Topic:
  • Financial Management
Tags:
  • ABACUS

Join ABA CFO PK Sindwani, a former bookstore owner, and our accounting staff for our session designed to jumpstart your ABACUS submission. In this session, you’ll receive step-by-step instructions to fill out your ABACUS survey, tips on how to find your information to complete the survey, and ways to find time to report.

 

Attend a forthcoming workshop with PK for one-on-one assistance with filling out the 2023 ABACUS Survey the submission deadline of July 21, 2024.

 

Lightning Talk - Emily Autenrieth (A Seat at the Table Books) on Calculating Sales for Store Sustainability

Lightning Talk - Emily Autenrieth (A Seat at the Table Books) on Calculating Sales for Store Sustainability (March 14, 2024)
Content related to the education session Lightning Talk - Emily Autenrieth (A Seat at the Table Books) on Calculating Sales for Store Sustainability, Lightning Talks.
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Topic:
  • Financial Management
  • Partnerships & Community Relationships
Tags:  None

 

ABA's Lightning Talk series features booksellers presenting 5-10 minute talks on tech tools, organizational strategies, communication methods, or innovations they’ve made in their stores. On March 14, 2024, Emily Autenrieth (A Seat at the Table Books) discussed Calculating Sales for Store Sustainability.

Batch for Books: The Easy Invoice Management Solution

Batch for Books: The Easy Invoice Management Solution (February 13, 2024)
Content related to the education session Batch for Books: The Easy Invoice Management Solution, Winter Institute 2024.
Topic:
  • Financial Management
Tags:
  • Technology

 
Every bookseller in the UK uses Batch to simplify their Accounts Payable and publisher invoice management and over 300 US booksellers (and growing!) are now using it. Come learn more about this free platform to:
  • Automatically and electronically organize publisher invoices to reduce paperwork and free up time.
  • Provide access to invoice information 24x7, enabling you to manage invoices when it’s most convenient for you.
  • Provide electronic invoices, allowing you to verify shipments and raise claims for damages or shortages at the point of delivery.
  • Allow payments to be prepared and remittances received and stored electronically.
  • Link with QuickBooks, enabling automated entry of invoice data directly into QuickBooks.
The more booksellers that sign up for Batch, the more publishers that will sign up! Saving everyone time and money.
 
Speakers
Kathy Burnette, Brain Lair Books - South Bend, IN
Kate Layte, Papercuts Bookshop - Boston, MA
Zachary Matelski, McLean and Eakin Booksellers - Petoskey, MI
Nathan Halter, Batch for Books - Hartford, CT
 
Files & Links

Making Numbers Count: Quantifying Success with KPIs

Making Numbers Count: Quantifying Success with KPIs (February 13, 2024)
Content related to the education session Making Numbers Count: Quantifying Success with KPIs, Winter Institute 2024.
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Topic:
  • Operations & Personnel Management
  • Buying & Inventory Management
  • Financial Management
Tags:  None
 
Description
You’ve meticulously curated your inventory, designed the perfect displays, and developed an events program for your community — but how will you know if what you’re doing is working? Tracking Key Performance Indicators (KPIs) will give you the answer. KPIs are specific outcome-based targets that support your strategic plan and can be measured quantitatively, such as inventory turnover ratios, sales per square foot, and average transaction value. By the time you leave this session, you will: (1) understand the meaning and value of critical retail KPIs and how to track them, (2) understand how to compare your store’s KPIs against financial metrics found in the ABACUS report, and (3) be able to apply this data to create an improvement plan for at least one area of your store’s performance.
 
Speakers
Cynthia Compton, MacArthur Books - Carmel, IN
Melissa DeMotte, The Well Read Moose - Coeur d'Alene, ID
Candice Anderson, Tombolo Books - St. Petersburg, FL
 
Files & Links

Opening Keynote with James Rhee: Goodwill Found. Goodwill Measured

Opening Keynote with James Rhee: Goodwill Found. Goodwill Measured (February 12, 2024)
Content related to the education session Opening Keynote with James Rhee: Goodwill Found. Goodwill Measured, Winter Institute 2024.
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Topic:
  • Financial Management
Tags:  None
Using his seven years as the unlikely and heralded Chairman and CEO of Ashley Stewart, a business with deep roots in Black American communities, as the basis for his narrative, James Rhee weaves together a tapestry of ideas including humanism, neuroscience, race, economics, and capitalism to paint a picture of what is possible through the mutually reinforcing forces of kindness, math, and goodwill. His book, red helicopter, empowers readers to lead change in business and in life. As all booksellers know, what we read shapes our society, and James offers a simple path to a world that is at once kinder and more successful. As a long-time private equity investor, an educator as the Johnson Chair of Entrepreneurship at Howard University and Senior Lecture at MIT Sloan School of Management, and student of life, James implicitly and explicitly makes the case for a set of measurements that captures and scales what’s best in us. It is there, alongside a few financial and accounting formulas, where life, money, and joy can be valued.
 
Speaker
Files & Links
 
 
 

ABACUS Workshop

ABACUS Workshop (July 17, 2023)
Content related to the education session ABACUS Workshop, ShopTalk.
AttachmentSize
Plain text icon Chat Copy238 bytes
Plain text icon Transcript45.92 KB
Topic:
  • Financial Management
Tags:
  • ABACUS

Join ABA CFO PK Sindwani, a former bookseller, and our accounting staff for our sessions designed to jumpstart your ABACUS submission. In this session, you’ll receive step-by-step instructions to fill out your ABACUS survey, tips on how to find your information to complete the survey, and ways to find time to report. Please bring your Trial balance, year-end payroll register from your payroll provider, and year-end cash register summary from your POS.

A full transcription and closed captioning are available for this session. Please note that both are machine-generated and are not reviewed for accuracy.

ABACUS Workshop (July 17, 2023)
Content related to the education session ABACUS Workshop, ShopTalk.
Watch video from this event...
Topic:
  • Financial Management
Tags:
  • ABACUS

Join ABA CFO PK Sindwani, a former bookseller, and our accounting staff for our sessions designed to jumpstart your ABACUS submission. In this session, you’ll receive step-by-step instructions to fill out your ABACUS survey, tips on how to find your information to complete the survey, and ways to find time to report. Please bring your Trial balance, year-end payroll register from your payroll provider, and year-end cash register summary from your POS.

A full transcription and closed captioning are available for this session. Please note that both are machine-generated and are not reviewed for accuracy.

Batch for Books: Easy Invoice Management (Outside Expert)

Batch for Books: Easy Invoice Management (Outside Expert) (February 23, 2023)
Content related to the education session Batch for Books: Easy Invoice Management (Outside Expert), Winter Institute 2023.
Topic:
  • Financial Management
Tags:
  • Technology

A big challenge for all bookstores is the volume and management of publisher invoices. In this session, you’ll hear from Batch colleagues and current Batch users about how they save time and money using Batch to manage their invoices and prepare payments to publishing partners. The session will include discussion and demonstrations with focus on how Batch:
- Automatically and electronically organizes invoices to reduce paperwork and free up time.
- Provides access to invoice information 24x7, enabling you to manage invoices when it’s most convenient for you.
- Provides electronic invoices, allowing you to verify shipments and raise claims for damages or shortages at the point of delivery.
- Allows payments to be prepared and remittances received and stored electronically.
- Links with QuickBooks; enabling automated entry of invoice data directly into QuickBooks.

 

Speakers: Nic Bottomley, Mr B's Emporium of Reading Delights (Bath, Somerset); Nathan Halter, Batch for Books (Hartford, Connecticut); Christine Onorati, WORD Bookstores (Brooklyn, NYC and Jersey City, NJ)

An Introduction to Researching and Writing Grants for Nonprofit and For-Profit Bookstores (Outside Expert)

An Introduction to Researching and Writing Grants for Nonprofit and For-Profit Bookstores (Outside Expert) (February 22, 2023)
Content related to the education session An Introduction to Researching and Writing Grants for Nonprofit and For-Profit Bookstores (Outside Expert), Winter Institute 2023.
Topic:
  • Financial Management
Tags:
  • 101

Whether your store or a portion of your bookstore is classified by the IRS as a nonprofit or not, you can still raise funds by applying for grants. Come to this session to learn more about the art and science of grant writing for both nonprofit and for-profit bookstores.

 

Speakers: Brandon Lueken, Bellevue College (Bellevue, Washington)

Financial Modeling Workshop: Learn How to Create a Financial Model to Analyze a New Business Opportunity (Outside Expert)

Financial Modeling Workshop: Learn How to Create a Financial Model to Analyze a New Business Opportunity (Outside Expert) (February 21, 2023)
Content related to the education session Financial Modeling Workshop: Learn How to Create a Financial Model to Analyze a New Business Opportunity (Outside Expert), Winter Institute 2023.
Topic:
  • Financial Management
Tags:
  • Owners and Managers

This financial modeling workshop will help you evaluate potential new initiatives for your business. Whether you think it’s time to expand your space with another physical or pop-up location, you want to begin or increase your offering of used books or non-book items, or you’re considering adding a cafe or bar, this workshop will walk you through the financial analysis to help you make sound business decisions. Preliminary work in the Strategic Planning Series: Part I, Part II, and Part III will benefit attendees of this session.

 

Speakers: Peter Brous, Seattle University Business School (Seattle, Washington)

Strategies for Succession Planning

Strategies for Succession Planning (February 20, 2023)
Content related to the education session Strategies for Succession Planning, Winter Institute 2023.
Topic:
  • Financial Management
Tags:
  • Owners and Managers

Whether you have owned a store for many years and are considering exiting a much-loved business, are planning for your store’s long-term future, or are a bookseller exploring options for keeping a business viable for many years to come, this is the session for you. This seminar will cover store valuation, alternate models for succession, how to raise capital, the importance of an emergency plan, and more!

Part one of this three-part series features Toraya Miller of Washington State’s LGBTQ+ & Allied Chamber of Commerce.
 
Part two features Tara Vitale and Peter Smith, Managing Partners at Apex Law Group.
 
The third and final part of this series features Kate Larson and Suzanne Droppert, current and former owners of Ballast Book Company (Bremerton, Washington); Michelle Bear and Mary Kay Sneeringer, current and former owners of Edmonds Bookshop (Edmonds, Washington); and David Sandberg, owner of Porter Square Books (Cambridge, Massachusetts).

 

 

 

Speakers: Suzanne Droppert, Lemolo Books (Poulsbo, Washington); David Sandberg, Porter Square Books (Cambridge, Massachusetts); Kate Larson, Ballast Book Company (Bremerton, Washington); Michelle Bear, Edmonds Bookshop (Edmonds, Washington); Sam Kaas, Norwich Bookstore (Norwich, Vermont); Toraya Miller, Washington State’s LGBTQ+ & Allied Chamber of Commerce (Seattle, Washington); Mary Kay Sneeringer, ABA Event Guest (White Plains, New York)

Strategies for Succession Planning (February 20, 2023)
Content related to the education session Strategies for Succession Planning, Winter Institute 2023.
Watch video from this event...
Topic:
  • Financial Management
Tags:
  • Owners and Managers

Whether you have owned a store for many years and are considering exiting a much-loved business, are planning for your store’s long-term future, or are a bookseller exploring options for keeping a business viable for many years to come, this is the session for you. This seminar will cover store valuation, alternate models for succession, how to raise capital, the importance of an emergency plan, and more!

Part one of this three-part series features Toraya Miller of Washington State’s LGBTQ+ & Allied Chamber of Commerce.
 
Part two features Tara Vitale and Peter Smith, Managing Partners at Apex Law Group.
 
The third and final part of this series features Kate Larson and Suzanne Droppert, current and former owners of Ballast Book Company (Bremerton, Washington); Michelle Bear and Mary Kay Sneeringer, current and former owners of Edmonds Bookshop (Edmonds, Washington); and David Sandberg, owner of Porter Square Books (Cambridge, Massachusetts).

 

 

 

Speakers: Suzanne Droppert, Lemolo Books (Poulsbo, Washington); David Sandberg, Porter Square Books (Cambridge, Massachusetts); Kate Larson, Ballast Book Company (Bremerton, Washington); Michelle Bear, Edmonds Bookshop (Edmonds, Washington); Sam Kaas, Norwich Bookstore (Norwich, Vermont); Toraya Miller, Washington State’s LGBTQ+ & Allied Chamber of Commerce (Seattle, Washington); Mary Kay Sneeringer, ABA Event Guest (White Plains, New York)

Decoding the P&L at the 2022 Fall Regionals

Decoding the P&L at the 2022 Fall Regionals (September 8, 2022)
Content related to the education session Decoding the P&L at the 2022 Fall Regionals, Regional Conferences.
Watch video from this event...
Topic:
  • Financial Management
Tags:
  • 101

Decoding the P&L for Booksellers, Managers, and Owners was presented at the Fall 2022 Regional Shows.

A bookstore’s profit and loss statement (P&L) is a critical tool for evaluating a store’s overall performance. Join ABA staff on a walk-through of a bookstore P&L statement as we lay a groundwork for understanding bookstore financials, decode individual line items to identify opportunities for improved profitability, discuss how to use ABA’s ABACUS Report, and consider ways to share financials with staff in a meaningful and cooperative manner.

Contribute to the progressive P&L Olives JamBoard here!
Decoding the P&L at the 2022 Fall Regionals (September 8, 2022)
Content related to the education session Decoding the P&L at the 2022 Fall Regionals, Regional Conferences.
Watch video from this event...
Topic:
  • Financial Management
Tags:
  • 101

Decoding the P&L for Booksellers, Managers, and Owners was presented at the Fall 2022 Regional Shows.

A bookstore’s profit and loss statement (P&L) is a critical tool for evaluating a store’s overall performance. Join ABA staff on a walk-through of a bookstore P&L statement as we lay a groundwork for understanding bookstore financials, decode individual line items to identify opportunities for improved profitability, discuss how to use ABA’s ABACUS Report, and consider ways to share financials with staff in a meaningful and cooperative manner.

Contribute to the progressive P&L Olives JamBoard here!
Decoding the P&L at the 2022 Fall Regionals (September 8, 2022)
Content related to the education session Decoding the P&L at the 2022 Fall Regionals, Regional Conferences.
Watch video from this event...
Topic:
  • Financial Management
Tags:
  • 101

Decoding the P&L for Booksellers, Managers, and Owners was presented at the Fall 2022 Regional Shows.

A bookstore’s profit and loss statement (P&L) is a critical tool for evaluating a store’s overall performance. Join ABA staff on a walk-through of a bookstore P&L statement as we lay a groundwork for understanding bookstore financials, decode individual line items to identify opportunities for improved profitability, discuss how to use ABA’s ABACUS Report, and consider ways to share financials with staff in a meaningful and cooperative manner.

Contribute to the progressive P&L Olives JamBoard here!
Decoding the P&L at the 2022 Fall Regionals (September 8, 2022)
Content related to the education session Decoding the P&L at the 2022 Fall Regionals, Regional Conferences.
AttachmentSize
PDF icon P&L Handout476.11 KB
PDF icon Slide Deck2.1 MB
Topic:
  • Financial Management
Tags:
  • 101

Decoding the P&L for Booksellers, Managers, and Owners was presented at the Fall 2022 Regional Shows.

A bookstore’s profit and loss statement (P&L) is a critical tool for evaluating a store’s overall performance. Join ABA staff on a walk-through of a bookstore P&L statement as we lay a groundwork for understanding bookstore financials, decode individual line items to identify opportunities for improved profitability, discuss how to use ABA’s ABACUS Report, and consider ways to share financials with staff in a meaningful and cooperative manner.

Contribute to the progressive P&L Olives JamBoard here!

About ABA

The American Booksellers Association, a national not-for-profit trade organization, works with booksellers and industry partners to ensure the success and profitability of independently owned book retailers, and to assist in expanding the community of the book.

Independent bookstores act as community anchors; they serve a unique role in promoting the open exchange of ideas, enriching the cultural life of communities, and creating economically vibrant neighborhoods.

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