The real cost of running a bookshop

I get asked a lot how it's going; let's take a look!

Like almost every other store owner I am sure, I’m anxiously awaiting what December will bring in terms of sales. The store is exactly 1 year old now, so even more excitingly we can start to compare to last year and see what growth there has been.

But how did the first 11 months of 2024 go? Since I get asked so often, I though I would pull back the curtain and share some cold hard data.

Inspired by the excellent Tiger record store in Oslo, here’s a little summary with some minor commentary. Please excuse any arithmetic errors.

1 January-30 November 2024

Operating revenue: 1,204,557 NOK

Operating costs: 1,287,095 NOK

Result this year (so far, and after a few roundings in the above):

drumroll please…

-82 559 NOK

So it’s pretty clear where the money comes from - we mostly sell books, both used and new, and a few other items like notebooks, stickers, totes, etc. But where does the money go?

Inventory etc.

Books: 509,958

Other merchandise: 10,941

Shipping and tolls: 35,756

Our next biggest cost is paying me and the others who work here. Very important! In total this year the store has had four employees at various points in time, with everyone working part time to varying extents except me.

Wages and related costs

Wages to part time employees: 191,000

Salary to Indigo: 183,304

Fees to the state and other related costs (arbeidsgiveravgift for example): 104,027

Insurance: 6,822

Finally we have…

Other stuff you have to pay for when you run a business

Electricity and heating (from the freaking cold winter especially): 15,916

Rent: 94,965

Bank and card fees for processing payments: 22,768

Shipping outgoing orders: 1,426

Advertising: 20,730

Office supplies: 8,442

A bunch of other small and boring things: 81,039

What does it all mean?

My goal for 2025 is of course to get the business to really be self-sustaining. Currently that is not the case. In October I had to lend the business some of my own money so we could make it to the Christmas season. And clearly I can’t survive forever on less than 200,000 a year salary working 100% (or more likely 150%).

Still, I am very proud of what Prismatic Pages has done in just one year of business. I see new and regular customers every day in the shop. We need and appreciate every single one of you! Whether you come by every week or you’re a tourist just stopping in once, I am honored that people spend their time and money here.

And now, back to work preparing for the (hopeful) flood of December sales.