Winter Institute Seminar to Focus on Bookstore Finance Basics

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    Registration opens on November 1 for several special programs at Winter Institute 12 (Wi12), including the Bookstore Finance Seminar. As at this month’s Principles of Bookstore Finance Workshops in the New Atlantic (NAIBA) and Northern California (NCIBA) regions, the Wi12 seminar will explore the fundamentals of budgeting, cash flow analysis, business financing, bookkeeping, and financial statements.

    The 101-level seminar, to be held on Saturday, January 28, from 10:30 a.m. to 4:20 p.m. at the Hyatt Regency Minneapolis, is open to all booksellers at the Winter Institute; however, pre-registration is required and space is limited.

    Robert Sindelar, managing partner of Third Place Books in Seattle, Washington, and ABA Chief Financial Officer Robyn DesHotel will lead the program, which will include a segment focusing on strategies for achieving higher profits and improving cash flow. It will conclude with an interactive group discussion, working through an example of how booksellers can use their store’s financial information to make sound business decisions. Deep financial experience is not required.

    ABA’s first Principles of Bookstore Finance Workshop was presented to more than 40 attendees on Saturday, October 15, in Baltimore, ahead of NAIBA’s fall trade show.

    Attendee Marlene England of Curious Iguana in Frederick, Maryland, said she and her operations manager both found the workshop to be very beneficial. “I’m grateful to be part of an industry that ‘walks the talk’ and seeks out practical ways to help booksellers do better in so many different aspects of our businesses,” England said.

    ABA Senior Strategy Officer Dan Cullen said the workshop in Baltimore was filled with a range of experienced, new, and prospective bookstore owners and managers, all of whom had an interest in deepening their understanding of their stores’ financial operations.

    “The session covered the fundamentals of bookstore finances and presented relevant and instructive examples, and throughout the day there was also great interaction as booksellers shared their own experiences as well as examples of the challenges, strategies, and solutions they employ in managing their businesses,” said Cullen.

    An additional Principles of Bookstore Finance Workshop will be held on October 26 in San Francisco, ahead of the NCIBA Fall Discovery Show.

    For booksellers unable to attend either Principles of Bookstore Finance Workshop, the Winter Institute Bookstore Finance Seminar will provide another chance to gain valuable information about bookstore finances.

    Registration opens November 1 for the Bookstore Finance Seminar. Watch for more details and registration links in upcoming editions of Bookselling This Week, and see the full Winter Institute schedule here.

    Winter Institute 12, which will be held in Minneapolis, Minnesota, from Friday evening, January 27, through Monday, January 30, 2017, is made possible by the generous support of lead sponsor Ingram Content Group and from publishers large and small