Host: Irene Ryan
Participants:
- Kate Weiss, Binc
- Kit Steinaway, Binc
- Talia Whyte, Rozzie Bound
- Ellen Speers, Titcomb’s
Notes:
- What is needed to open a bookstore in a new location?
- Is there a lack of workers or a lack of living-wage paying jobs?
- What resources does a bookstore need to pay a living wage to booksellers?
- High turnover is an issue for a lot of stores. We’re not able to keep employees because of pay.
- Now more than ever people need jobs with health care. The realities of the P&L don’t allow for paying booksellers a living wage ($25/hr). You can’t just sell books anymore.
- Rozzie Bound is using a co-op model. They are working with a lawyer. The worker/owner model helps with fair compensation. They get a share of the profits at the end of the year.
- With a sole owner the risk is on one person.
- Offering a living wage would lead to a stronger bookstore, of employees who are invested in the business’s success.
- Looking at hiring younger employees and retired employees. Looking at different avenues to employ booksellers.
- Don’t know how long they are going to be able to keep great employees.
- There’s no win in health insurance. If it’s offered the employee by the business the state assistance is taken away.
- An HSA was out of budget.
- Mental health resources are needed.
- What are booksellers making? Are people starting at minimum wage? The store can’t afford to do more. Minimum wage is still the starting point at many stores.
- Diversifying with sidelines, cafe, gifts, etc. to increase bottom line to pay people better.
- Different communities have fundraised to support the bookstore.
https://www.bincfoundation.org/resources/ further resources from the Binc Foundation. And always feel free to reach out! info@bincfoundation.org for questions about emergency financial assistance email our help@bincfoundation.org or call 866-733-9064
Reimagining Bookstores 