Sci-Fi book rental and buyback service

[jsclev]

Hi all,

Wondering if anyone out there might be willing to provide me some feedback/help on a new sci-fi book rental service I am trying to create. I went looking for some sort of sci-fi book rental service, or a sci-fi book buyback program, and was never able to find anything. My overall goal is to build a service/online environment that promotes more sci-fi reading, and at affordable prices, by allowing people to rent sci-fi books. Very similar to how Netflix used to work with physical DVDs.

The only two options I found were

• www.booklender.com. Looks very promising, but it is not specific to sci-fi. I also read about problems of book condition quality, I would prefer to offer a service in which the condition of the books you'll rent is highly transparent to the renter.
• Local library. Mine generally has a lot of holds on the popular sci-fi books, plus they can't ship to my home.

Is there anyone out there willing to be a guinea-pig to help me see if I could set up a service like this? I currently have an online, invite-only, store set up with some of my available books and can provide access so that you can browse the available titles.

To give a rough idea of how I'm thinking the service might work:

• You pick 3-5 sci-fi books per quarter.
• I ship them to you (free shipping) in a re-usable shipping box that protects the condition of the books.
• You return them using a free shipping label I provide, in the re-usable box, at the end of the quarter.
• You then pick out your next set of books.
• Cost of the service is in the $9-$15 per month range.

Note that the outline above is just a rough idea to begin with, ultimately it is what I am looking for help figuring out, in order to see if this is truly a sustainable service that could be offered at an affordable price. One of the bigger problems I've run into is that shipping costs (USPS Media Mail) basically dictate that I would need to ship at least 3 or more books per shipment in order for the service to stay affordable. I could not figure out any way to allow renters to pick one book at a time, and still keep the overall cost of the service affordable.

Thanks so much in advance for anyone willing to help!

 

[Bick]

I'll be honest - I'm not sure how widely this would appeal. I think the world is now divided into those for whom owning and reading the actual paper book is important and those who are not fussed about the physical book. The former wouldn't probably bother with renting (they will usually want to own it), and the latter are happy to just read e-books if they can't easily source a copy.

Presumably this would only work in the country you're in - is that the US? You couldn't ship to me for free, I'm in NZ - you'd go broke. I also expect you'd lose lots of books to folk not returning them. I think this would inadvertently turn into a SF book charity.

But good luck with it...

 

[jsclev]

I'll be honest - I'm not sure how widely this would appeal. I think the world is now divided into those for whom owning and reading the actual paper book is important and those who are not fussed about the physical book. The former wouldn't probably bother with renting (they will usually want to own it), and the latter are happy to just read e-books if they can't easily source a copy.

Presumably this would only work in the country you're in - is that the US? You couldn't ship to me for free, I'm in NZ - you'd go broke. I also expect you'd lose lots of books to folk not returning them. I think this would inadvertently turn into a SF book charity.

But good luck with it...

Hey thanks so much for the info, this is super helpful. Yeah, all totally agreed, not at all surprised to hear someone bring up these points. I'm Ok with creating a highly niche service. I figure there are a lot of people in the world, if I can find that tiny fraction of people that this type of service would appeal to, I'd be happy with that.

Yes, I'm in the U.S., so I would only be able to make this work in the U.S. (specifically utilizing United States Postal Service Media Mail). However, I was thinking if I could somehow make the business work here, I could possibly help people in other countries (such as New Zealand!) set up the service there.

Two potential ideas I had thought of to avoid some of the issues you brought up:

• Having the rental service be a fairly closed membership, possibly based on personal recommendations of who would be allowed to join, with the idea that if there was some personal accountability, it might help the problem of people not ever returning the books. I think I'd be Ok with just having, say, 100 active members or something, as long as I could charge enough money to not go broke. I know if this service existed, I would use it. The convenience of picking out books online like Amazon, having the physical books shipped to my home, but then not needing the permanent storage space in my home to keep them, re-usable environmentally friendly shipping, easily worth $15/month to me.
• One of the other ideas I had was offering a book buyback program in which you would buy a book, then you could sell it back to the store for something like 25% original purchase price, pending similar condition of course. I could never figure out how to make this work with the shipping costs, though. There is just no way to make anything like this work if you're only shipping one book at a time.

Anyhow, thanks for the feedback, all good points to think about, will keep brainstorming...

 

[Jo Zebedee]

I think the pricing structure is the problem. Thrift stores do super well with books, including sf, and 5 books can be picked up for that price pretty easily. Why would I pay a monthly fee for used books when I could just have a fun browse there instead?

 

[Bick]

I think the pricing structure is the problem. Thrift stores do super well with books, including sf, and 5 books can be picked up for that price pretty easily. Why would I pay a monthly fee for used books when I could just have a fun browse there instead?

Agreed - half the pleasure of investigating old SF books is the mooching around in musty used-book stores that precedes it. Moreover the rental library would have to be huge to have specific old SF books I sometimes look for but cannot find in used-books stories and charity shops. I can find almost anything on eBay or abebooks and that suits me fine. Would the library stock 20,000 titles?

 

[jsclev]

I think the pricing structure is the problem. Thrift stores do super well with books, including sf, and 5 books can be picked up for that price pretty easily. Why would I pay a monthly fee for used books when I could just have a fun browse there instead?

Yeah, this is an excellent point, and thanks for the feedback. I think I'd have to be very careful about competing with existing, already-established businesses on price alone. The value proposition of this potential service is not price, as I think this service would have to be considerably more expensive than browsing and buying books at the local thrift store (I can buy a whole stack of books at my thrift store for like $3). I believe the value proposition of this potential service would have to be convenience and engagement. I know when I tried to find a service like this, I wanted:

• The ability to search a huge catalog of books, for any book I might happen to be interested in (Amazon, www.thriftbooks.com, www.abebooks.com). And also be able to rent the exact edition/version/cover of a book that I would like. I've ordered literally 100s of books from those online retailers and it if often that I do not get the version that I ordered, despite the picture and ISBN in the listing.
• The ability to browse online (same examples as above).
• The ability to have the books shipped directly to my house, without having to make trips to the library, physical book store, or thrift store. My local library system does not ship books. Not sure about other library systems.
• A super easy way to "dispose" of the books when I'm done so I don't clutter up my house with previously-read books. The only good solutions to that problem that I am aware of is to donate the finished books to the thrift store, goodwill, library, friend, family, etc. Which are all valid solutions, but I do wonder if people wind up hanging onto way more books than they really want to, because donating a $19 book that they bought on Amazon a month ago is just a little hard. Not sure about that (?). I could think of no easier way of disposing of a finished book other than throwing it in the trash, or popping it in your own mailbox using the same box it was shipped in, with a pre-paid shipping sticker.
• An active, "engaged" service, rather than just a straight one-and-done transaction. Netflix is very good at recommending additional titles you might like based on what you've already watched. It creates ongoing engagement with their platform and is part of what keeps people coming back to their service. Although Amazon's recommendations seem to be only driven by sales, not actually useful related book recommendations. I was looking for something like "Hey, if you enjoyed Leviathan Wakes, you would probably also enjoy A Fire Upon the Deep by Vernor Vinge." I would guess that most local libraries can provide these types of recommendations.

The only service I was able to find that comes close to checking all those boxes is booklender.com. But they are a general-purpose book rental service, while I have been looking for something more oriented towards sci-fi (and maybe fantasy and horror). This is a very, very niche service.

So, if price is the most important factor for a customer, then I don't think this is the service for that customer. It will never be able to compete on price with Amazon, Abe Books, or as you pointed out, someone's local thrift store.

But again, there are a lot of people in the world, all with different needs. I do, however, think it is telling that there seems to be literally only one paid-subscription, online, book rental service in existence (booklender.com). I believe others have existed over the years, but they all seem to have gone out of business.

 

[jsclev]

Agreed - half the pleasure of investigating old SF books is the mooching around in musty used-book stores that precedes it. Moreover the rental library would have to be huge to have specific old SF books I sometimes look for but cannot find in used-books stories and charity shops. I can find almost anything on eBay or abebooks and that suits me fine. Would the library stock 20,000 titles?

Yes, I believe the service would have to stock 20,000+ titles. If the available stock isn't there, I don't really see how the service works. People would just give up immediately and go to Amazon/abebooks, etc. probably after one search in which they couldn't find what they're looking for, I know I would. That would have to be part of the value proposition of the service: you should be able to basically find any sci-fi book you're looking for. I'm sure booklender.com has gone through some sort of process of determining the sweet spot of how much inventory to keep to always make sure they can readily meet the demand. Maybe they do some sort of just-in-time inventory purchasing?

Hard to say if 20,000 titles would even be enough, not sure. How many sci-fi books are there? Have no idea. But I think the problem of inventory is one of the more straightforward problems to solve: get more inventory and find a place to store it. I have also thought about opening a physical store to essentially be the storage warehouse, thereby killing two birds with one stone, but rent on retail space will be considerably higher than rent on warehouse space.

I think the much bigger problem is finding the right type of reader who wants this service, and making sure that the service truly meets that person's needs, within their perceived price point. Again, this is a very small market of the overall reading population:

• Sci-fi only
• People who prefer physical books instead of eBooks
• People who prefer the flexibility of browsing their books online vs in a physical store
• People who purposefully do not want to keep their books
• People who can afford and willing to pay a premium for all of the above

I mean we're probably talking about less than 1% of readers out there, but that is still a lot of people.

Thanks by the way for the input. I think there are a lot of people who love browsing around in their local used bookstore, and I think your comment helps to formulate/crystallize that this is not the service for that type of person.

 

[Astro Pen]

It is a nice idea to kick around but TBH I'd forget it for multiple reasons:

1. My local thrift store does four books for £1 ($1.36).
2. Don't underestimate the joy of physical ownership. There is more to books than reading, there is a serious collecting element. Witness my half shelf of Asimovs
3. Administration, the addressing of non returns and damage levels, not to mention the current and probably ongoing covid book quarantining paranoia.
4. Big government contempt for small business, IRS audits etc'
5. Falling literacy 54% of Americans now have reading skills below 6th grade. (Forbes)

 

[Jo Zebedee]

With my booksellers hat on -20000 books is a lot. Sourcing those will take a lot of time - and money. If you’re including vintage hard to find titles they will cost you.
Do you include new books? What will you do if 200 people ask for one at the same time? Buy 200 or make them wait - undermining your business model. But ordering 200 of a new book you might later only need a couple of will cost thousands. And there are lots of new novels.
If you have lots of money you’re prepared to lose this is doable but it’s stock heavy - and stock is money

 

[hitmouse]

I think, as others have pointed out, there are some problems with the idea.
i think the one thing that might make it work for a discerning audience ( which it would be) is if the list is faultlessly curated. That is difficult.

 

[Montero]

In my teens I used to shop at a read and return bookshop. All second hand, had a stamp in the front saying it was from the read and return shop, had the price written inside the stamp, and the stamp included the promise to buy it back at half price. Or you could return two and get one new one. Did stretch the pocket money a bit. I kept maybe half of what I bought.

 

[jsclev]

I think, as others have pointed out, there are some problems with the idea.
i think the one thing that might make it work for a discerning audience ( which it would be) is if the list is faultlessly curated. That is difficult.

Agreed, I think the only way something like this works is if it is a premium service, and the curation process and recommendation process would have to be very knowledgeable. Difficult, but possible.

 

[jsclev]

In my teens I used to shop at a read and return bookshop. All second hand, had a stamp in the front saying it was from the read and return shop, had the price written inside the stamp, and the stamp included the promise to buy it back at half price. Or you could return two and get one new one. Did stretch the pocket money a bit. I kept maybe half of what I bought.

Thanks for this idea. I have been kicking around a read and return/buyback program idea as well. It solves some of the systemic problems of the rental service:

• Readers not returning books (would be totally fine)
• Readers destroying the condition of the books (the return/buyback price would be dependent on condition)

It also helps stay away from the transactional types of business I'm trying to avoid, so I don't get into a price competition with Amazon, thrift stores, etc. Allows for a more repeat customer, engaging type of service that I am personally looking for. I would prefer that the service is able to track the purchases electronically (i.e. stored with your account, so you can see all your available buybacks), track user credits, etc. This would be technically possible to build. I run a software company so it is within the realm of possibility to stand up a custom online system to run the service.

That's interesting that the buyback price was half. I'd have to experiment with some numbers to see if that would be sustainable, that high of a return price feels a little high, but possible.

Thanks for this idea. This may be the way to go, I can easily prototype/experiment with this idea with friends, family, local area to see if I can get the pricing right and sustainable.

 

[jsclev]

With my booksellers hat on -20000 books is a lot. Sourcing those will take a lot of time - and money. If you’re including vintage hard to find titles they will cost you.
Do you include new books? What will you do if 200 people ask for one at the same time? Buy 200 or make them wait - undermining your business model. But ordering 200 of a new book you might later only need a couple of will cost thousands. And there are lots of new novels.
If you have lots of money you’re prepared to lose this is doable but it’s stock heavy - and stock is money

BookLender says on their website "Located just outside of Washington, D.C. in tech rich Northern Virginia, BookLender is strategically located near one of the country's largest book distribution warehouses (Ingram Book Group), and a USPS bulk mail center."

There would have to be some sort of storage advantage I think in order to make it work (very very cheap warehouse space, physical proximity to a bulk mail center). Yeah, storing 20,000+ books is going to be challenging.

I don't think the service would offer new books, only used. But ideally, it would offer used copies of current books. I personally would not use a service that did not offer a good selection of current titles.

 

[Bick]

• Readers not returning books (would be totally fine)

I'm not sure this could be fine and still work. The majority will keep the books and not return (its human nature, given its a faff to have to post it back), this means you'll constantly be having to acquire hundreds or even thousands of used SF books to keep the titles available and the stock up, and with the rare titles that sounds difficult. Will you get the books by the thousand from eBay?

I wonder if opening a used book shop with a buy-back option dependent on condition and a mail order/online presence to supplement the walk-in might be the way to go, rather than a warehouse all-online 'amazon' style venture?

 

[jsclev]

I'm not sure this could be fine and still work. The majority will keep the books and not return (its human nature, given its a faff to have to post it back), this means you'll constantly be having to acquire hundreds or even thousands of used SF books to keep the titles available and the stock up, and with the rare titles that sounds difficult. Will you get the books by the thousand from eBay?

I wonder if opening a used book shop with a buy-back option dependent on condition and a mail order/online presence to supplement the walk-in might be the way to go, rather than a warehouse all-online 'amazon' style venture?

Yeah, could definitely be an option: physical shop with supplemental online presence. Although, to some extent, the problem of having to constantly restock inventory seems like it would be the same problem any used bookstore would have: when someone buy's a book, it removes the book from the store's inventory, and somehow the store needs to restock that inventory. I would guess that most used book stores build up a set of reliable book sources over the years, and rely on those sources to restock. Powell's Books is a fairly large independent online used bookstore with a physical store (Portland, OR), been in business for many years, so somehow they have solved the problem of how to constantly restock inventory, suggesting it is do-able, though probably very difficult. I would not be surprised if the Powell's owners have worked very, very hard over the years to do it.

I'm sure I could track down some owners of buyback bookstores and see if they can give me an idea of percentage of books returned. The pricing model would have to be able to support the return rate. Seems like the lower the return rate, the higher percentage you could offer for returns.

I live in Charlottesville, VA which is a reading (and writing) community, so opening a physical store here would definitely be an option. I have met and spoken to the former owner of Oakley's Used Books, a former Sci-Fi/Fantasy bookstore that she used to run here in Charlottesville, closed in 2016 after 21 years, she retired. She said she did not have any online presence, not interested. She felt like the city would easily support a Sci-Fi bookstore again. So, yes, definitely an option to think about.

Ultimately I don't really want to have a "store", rather an ongoing relationship with repeat customers who value the store/service/platform because it helps them read more sci-fi, discover new sci-fi, and have a more enriching experience reading sci-fi, and all at a reasonable, not cheap, cost. My idea of offering an online service was because I was interested in being able to help more people than in just my local area. But your idea of doing both might be a really good idea.