Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Peter Sellers, owner of Sellers & Newel Second-Hand Books, located in Toronto, ON, Canada.

What's your business, and who are your customers?

The business is primarily selling second-hand books. Our focus is on 20th Century literature, poetry, philosophy, and books on jazz and martial arts. The people who shop here share our love of the printed word and are curious to discover obscure authors they've been unable to find elsewhere or writers and books they were not familiar with before.

Secondarily, we also operate as an occasional live music venue in which audiences are there to listen to great local and international musicians in an acoustically beautiful room.

Tell us about yourself

I love books, both as objects and for their content. Around 2010, my career in advertising started to wane, and I needed something else to do. At that point, I had two storage lockers full of books and decided to open a shop.

I love the store. Unlocking the door in the morning makes me feel really good. I love searching for new inventory and adding those volumes to the shelves. Talking with customers is a vital part of the business and something that brings me great joy, and I also learn from them on a daily basis.

What's your biggest accomplishment as a business owner?

Surviving in a challenging industry for more than ten years in the face of massive competition from online retailers is perhaps the biggest accomplishment. But also creating a large number of repeat customers who come to us first and spread the word to friends and colleagues. Making it through two years of the COVID pandemic in reasonably good shape is another feat that I'm happy with.

What's one of the hardest things that come with being a business owner?

The hardest thing for me was learning that one or two really bad sales days don't mean anything, except that to balance it out, there'll be one or two really good sales days. Letting go and trusting employees to make the right decisions can be tough as well, but if they are good and well trained, it's essential to do so.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. I started my store with no business plan and no real preparation. I just found a storefront that I liked, in a busy part of Toronto, at a rent that seemed reasonable and set up some shelves. I really had no idea what else was required. Whatever you do, don't do that. There were lots of painful lessons along the way that could have been avoided.
  2. Another longtime book dealer told me once, "You won't regret the good books you didn't buy, but you'll always regret the bad books you did buy." Very true. Be careful with purchasing, and don't let wild enthusiasm or blind optimism cloud your judgment.
  3. Your business is about your customers and what they want. Listen to them. Learn from them. Always be polite. The customer may not always be right, but you don't have to tell them so.

Is there anything else you'd like to share?

When I opened the shop in November 2011, I asked a cousin of mine who had considerable experience in the second-hand book business to help me out. He told me, "Pete, you need a poetry section." I assumed he was kidding. Nope. The poetry section has now been expanded four times, is our third largest area of revenue and brings in new customers almost daily whose friends have told them about what we have. So take good advice from people who know what they're talking about.

Where can people find you and your business?

Website: http://www.sellersandnewel.com/
Facebook: https://www.facebook.com/sellersandnewel/
Instagram: https://www.instagram.com/sellersandnewel/
Twitter: https://twitter.com/sellersandnewel

If you like what you've read here and have your own story as a solopreneur that you'd like to share, then email community@subkit.com; we'd love to feature your journey on these pages.

Feel inspired to start, run or grow your own subscription business? Check out subkit.com and learn how you can turn "one day" into day one.