Update (10/27)
We are so grateful for the amazing support, encouragement, and enthusiasm from everyone who has contributed to this campaign so far. We've raised $21,000 in a week! Since we still have a few weeks to go and deliberately set our goal lower than our actual need, we want to let you know that any donations are welcome, even if we surpass our original goal. We'll add new perks over the next few days and weeks to encourage more contributions. All of the money raised will go toward transition costs, including deposits, securing lines of credit with publishers, and more.
Short Summary
A bookstore is more than just a retail business.
A bookstore is a magnet around which culture and conversation gathers. Bookstores inspire, delight, and spark the imagination. They foster relationships and personal and collective growth. Even in our age of dizzying technological advances, a good, nurturing bookstore is an irreplaceable and integral part of a community.
They may not be glamorous, but bookstores are the connective tissue that hold many of our communities together. Without them our lives would be poorer.
When Steve Costa and Kate Levinson, the owners of Point Reyes Books since 2002, decided in the spring of 2016 to sell the business in order to focus their energy on new ventures, they sent out a notice asking prospective buyers to express their interest in purchasing the business. We were among those who submitted a letter in which we wrote of our lifelong passion for bookselling, literacy, and community-centered work. We were honored and humbled when Steve and Kate chose us as their successors.
This unusual transaction is in keeping with the uniqueness of Point Reyes Books and its owners. Rather than selling to the highest bidder, Steve and Kate understood that the value of the bookstore to West Marin and the Bay Area goes beyond profits. With this in mind, they looked for applicants who have deep knowledge of the book industry, dedication to community-centered work, and enthusiasm in confronting the challenges and opportunities ahead.
Even though we were upfront about our lack of capital--as a career bookseller and employee at a non-profit, we came up far short of the financing necessary to buy the store--Steve and Kate worked with us, suggesting potential investors and facilitating conversations with locals who care deeply about the continuing success of Point Reyes Books.
That brings us here: putting your money into a bookstore is often as much a matter of belief in the value of the space as it is a purely retail transaction. If you are reading this, it’s likely you already appreciate what a bookstore can do. Far from being merely a place at which books are sold, it functions as a gathering spot, an idea factory, and even, as in our case, a place where you can fall in love.
Benefit Corporation
In keeping with our principles and belief that bookstores provide social as well as financial benefits to their communities, we have decided to operate Point Reyes Books as a Benefit Corporation.
The emerging Benefit Corporation (B Corp) movement, which includes companies like Patagonia and Hog Island Oyster Co. in nearby Marshall, provides legal structure for a company to demonstrate its commitment to sustainability, transparency, and responsibility to social and environmental causes.
What We Need
We have a circle of investors who have contributed significantly toward our ability to purchase the store. However, we need to raise additional funds in order to successfully navigate through the first year of operation and to implement necessary changes. The money we hope to raise through this campaign will be used to:
- Cover fees associated with the purchase ($20,000)
- Certify as a Benefit Corporation ($1,000)
- Upgrade fixtures and inventory ($4,000)
- Update the Point Reyes Books website ($1,500)
- Bring in new merchandise and apparel ($2,500)
- Open accounts with new vendors ($1,000)
If we don’t reach our funding goal we will use the money we are able to raise to cover costs associated with the transferral of ownership.
The Impact
As we’ve made obvious, we are firm believers in the power and value of bookstores in shaping and cohering communities. We are humbled and honored that Steve and Kate see in us the talent and drive to continue the work they’ve done in Point Reyes for the past 15 years.
Our individual and collective work at Green Apple Books (where we met nearly 7 years ago) and Molly's work at 826 Valencia speak to the value and sense of pride we take in sharing our passion for books, reading, and community service. We are committed to maintaining and shaping Point Reyes Books as a gathering place, continuing and expanding the strong tradition of literary events at the store. We will endeavor to widen the store's literary reach, highlighting small presses and books you might not discover elsewhere, and recommend them with heartfelt passion. And we will aim to make the store a hub of learning and discovery, bringing in new ideas and educational experiences for all ages.
If nothing else, we've heard from many people that seeing independent bookstores continue open, expand, and change hands in the age of such supposed doom and gloom about the printed word inspires hope -- we see part of our impact as contributing to that sense of hope, and reminding the Bay Area and the wider community that bookstores still have a place here.
Risks & Challenges
Purchasing and operating any small business entails risk. We are aware that Point Reyes Station, a small town an hour north of San Francisco, relies heavily on tourism for its economy and that there are significant economic factors beyond our control. We are also aware that, despite the recent surge in brick and mortar bookstore openings (the American Booksellers Association reports that membership is up 20% since 2008, and independent bookstore sales are up nationwide), technology and convenience are persistent threats.
However, given our experience, creative energy, passion for bookselling, and strong Bay Area community ties, we believe we are well-suited to face these challenges. Through a combination of smart ordering, diversification of stock, a dynamic events series, and a welcoming and proactive presence in the community, we believe that under our stewardship Point Reyes Books will continue to serve as the “community living room,” as Steve Costa and Kate Levinson called it, and evolve into a larger cultural force in west Marin.
Other Ways You Can Help
We realize that there are innumerable ventures, projects, and organizations in need of financial support and that everyone has dreams they are chasing. If you are unable to contribute financially but share our unshakeable belief in the value of bookstores, we ask that you help spread the world.