Did you know it’s World Book Day? If you have a deep love for literature and you’re thinking about taking the leap into starting your own business or becoming self-employed, you might find this list of book businesses particularly inspiring.Creating book-themed stationery and gifts for book lovers
If you have a creative streak and love getting stuck into product development, you might want to consider starting a brand that creates and sells book stationary, and gifts for book lovers. This business concept has brilliant scalability, but you can easily start small, selling on third party sites like Etsy or eBay. Designing and producing bookmarks, literature themed stickers, and artwork is great starting point for a small, online business, especially if you are starting this business independently and don’t have a team of people to rely on from the get-go. Selling through social media has brought some small businesses brilliant success and the book community on platforms like Instagram and TikTok are a great market to tap into.
Quite the wordsmith? Start offering an independent proofreading and editing service
Are you looking to start a freelancing career or become self-employed, but you find taking the first step overwhelming or you are not ready to leave full-time employment just yet? Starting a proofreading and editing service that you can market and sell online is a great place to start. You can advertise your services on sites like LinkedIn and Twitter and complete the work in your spare time. This side-hustle idea might require quite a lot of your time and attention, especially if you work with authors looking to self-publish who want an extra pair of eyes on their work. However, it could be the start of an incredibly rewarding, freelance career that leads to more flexible and fulfilling lifestyle for you. If you want to guarantee your potential customers the quality of your work, you might want to look into obtaining a CIEP qualification, which shows your clients that you’ve worked hard for the proper certifications.
Re-sell second hand and vintage books
If you are quite the collector and you’ve got the room to maintain stock, setting up your own virtual book shop might be a great way to live your bookselling dreams without the overheads that come along with running a physical bookshop. Having an eye for great quality vintage collectibles or picking up second-hand copies of expensive university textbooks is a great way to earn extra money, especially as it is fairly easy to incorporate this business venture into your current routine. Starting your own website might be quite a big investment to start off with, so third-party sales website like Vinted, eBay, and Depop are a great way to test the waters. Once again, social media is your best friend when it comes to a re-sale business model. If you’re looking to put a unique spin or establish a recognisable brand, you could sell mystery or themed boxes that include a second-hand book and a few extra book-themed gifts, a strategy that works brilliantly on a subscription model and could guarantee a certain amount of income each month.
A book review blog or podcast
So, you’re an avid book reader and you have many, many thoughts and feelings to share about the literature you read. Why not make some money when you share your reviews? Establishing a platform where you can publish book reviews or openly discuss what you’re reading can be a great way to build a community and create an extra revenue stream. Blogs, websites, or podcasts are excellent platforms to monetise once you have built up a steady and regular audience. They do require some investment in tech and resources from the outset, but they can be managed according to your schedule, and you can keep creative control of what you read/talk about. Advertisers are always on the lookout for alternative spaces to reach out to new markets; selling advertisement slots on your blog or podcast can bring in a healthy income for you. The bigger your platform becomes, the more money you can make. It will require a bigger commitment in terms of initial investment and the ability to dedicate time and energy into regular content creation, but the opportunities of how to scale this kind of business are extensive.
Feeling ambitious? Start your own publishing company
This idea might seem overwhelming, but if you are ready to dive headfirst into the world of publishing, book production, and supporting authors that inspire you, why not take the leap? You might want to recruit a few extra team members to establish your own publishing company, but you don’t necessarily have to risk your own capital to produce fantastic pieces of literature. Crowdfunding has been used to support charities, individual’s struggling with medical or legal bills, or start-ups in need of that initial investment. Crowdfunding can also be used to fund the publishing costs of a book so that if the book sales underperform, your business doesn’t take a significant financial hit. You can pitch the premise and cover of a book, and readers who are interested and would like a copy can donate to the book’s publishing fund. This also helps your company gather market research, as you can determine the potential success of a book from the amount of people donating to the crowdfunding page. Once you’ve raised the amount you need to produce the book, you can get started. It lowers the financial risk for your business and secures a certain number of sales for you and the author, which means that any sales you make post-publication are additional profit and numbers.