A town without bookstores is like a town without churches or bars. Minus the hymnals and happy-hour specials, the best bookshops are vital community centers where patrons can gather, share ideas, and have grand revelations or quiet discoveries. When Buffalo Street Books in Ithaca, New York, began to fail, it tapped into the strength of its community with an inspired idea: cooperative ownership.
Last spring, rather than shuttering its doors, Buffalo Street Books sold shares of the independent shop to 600-plus local “co-owners,” raising more than $250,000, reports Christina Palassio in This Magazine. Less than a year later, the co-op bookstore is thriving.
What makes Buffalo Street Books’ co-op model successful? “The owners and employees of Buffalo Street Books do so much to make the store more than just a store; they’ve turned BSB into a community within a community,” says Chloe Wilson in The Ithaca Independent:
The store holds lectures, writer’s workshops, and reading groups on a regular basis. The store reaches out to Cornell and IC professors and works with them to supply books for their classes. The store encourages burgeoning writers and invites them to share their work. People who go to Buffalo Street Books aren’t just customers or employees, they’re members of BSB’s community.
In an industry already complicated by declining brick-and-mortar sales, answering to hundreds of shareholders has potential to add another layer of difficulty. “The messiness of running a co-op may not appeal to many beleaguered bookstore owners,” Palassio writes in This Magazine. “But with the rise in community-supported projects like [CSAs] and websites like Kickstarter and Unbound…the line between investor and customer is blurring.”
Keeping hometown bookstores alive makes the complications worthwhile. As novelist Ann Patchett told the New York Timesafter opening Parnassus Books in Nashville’s book desert last November, “I have no interest in retail; I have no interest in opening a bookstore. But I also have no interest in living in a city without a bookstore.” Like Buffalo Street Books, Parnassus Books utilizes the support of the community. Its Founder Rewards Program offers perks and discounts in exchange for member dues that range from $75 to $5,000.
In case you missed it, watch Patchett deftly explain the value of independent bookstores on The Colbert Report below. And don’t forget to support your local bookshop. The bars and churches are busy enough, aren’t they?