Comments on: Wacky Business Idea #6: Private Libraries http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/ Investing and Personal Finance Sat, 31 Jul 2010 15:45:55 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Richard http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7148 Richard Sat, 26 Jul 2008 16:52:14 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7148 An online version of this would be interesting - I don't know if being able to share the collection of books over a wide area would make up the cost of moving them around though (paperbacks would definitely have an advantage over textbooks!). An online version of this would be interesting – I don’t know if being able to share the collection of books over a wide area would make up the cost of moving them around though (paperbacks would definitely have an advantage over textbooks!).

]]> By: Di Eats the Elephant http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7135 Di Eats the Elephant Fri, 25 Jul 2008 16:20:05 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7135 It's a good idea to throw our ideas out and see what the world thinks about them, tho. Kinda like "Ask a friend" or "Ask the Audience" and the audience in this case (target market audience) is likely to be more honest than the friend, who has an emotional investment in you. It’s a good idea to throw our ideas out and see what the world thinks about them, tho. Kinda like “Ask a friend” or “Ask the Audience” and the audience in this case (target market audience) is likely to be more honest than the friend, who has an emotional investment in you.

]]> By: Mr. Cheap http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7068 Mr. Cheap Tue, 22 Jul 2008 00:45:27 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7068 Di: You're right that not every fringe interest would justify a $30 / month membership. Early Retirement Extreme asked if his readers would buy a newsletter from him, and they freaked out (http://earlyretirementextreme.com/2008/06/if-this-blog-was-a-newsletter-would-you-pay-for-it.html). But then, his readers are big on frugality! A debt-reduction private library or a frugality private library would be a pretty tough sell :-). Many real estate investors spend insane money on information (like thousands of dollars on weekend "boot camps" - basically just a seminar). $30 / month compared to that would look very cheap. Di: You’re right that not every fringe interest would justify a $30 / month membership. Early Retirement Extreme asked if his readers would buy a newsletter from him, and they freaked out (http://earlyretirementextreme.com/2008/06/if-this-blog-was-a-newsletter-would-you-pay-for-it.html). But then, his readers are big on frugality! A debt-reduction private library or a frugality private library would be a pretty tough sell :-) .

Many real estate investors spend insane money on information (like thousands of dollars on weekend “boot camps” – basically just a seminar). $30 / month compared to that would look very cheap.

]]> By: Di Eats the Elephant http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7065 Di Eats the Elephant Mon, 21 Jul 2008 20:04:00 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7065 I have to say that $30/month is a bit steep. Perhaps for $10/month. I belonged to a quilting guild which charged $20/year and we had our own library for borrowing from, plus all the monthly meetings and some monthly stitching groups that met in folks' homes. The library was not the big expense item either - the newsletter was. With up to 200 members, and with advertising, too, it was a bit costly each month to mail. Now that the internet has rescued the day, that must have gone down (I no longer edit the newsletter). These are definitely special interest books and give us a chance to see if we would want it enough to buy our own copy or not. I agree that it is hard to find some of the PF books in the local libraries, and I hate to fork out the dough then find I got one that really doesn't appeal to me. A private club - starting with those who already share their review copies and may have a bit of trust - developed into an 'invitation only' type club, with dues and ways to track down any offending members (i.e., must give up anonymity and location to other members) might be the way to go. I've thought of opening my own in some overseas location for ex-pats - sharing my library first-hand rather than selling it on craigslist when I was through with a book. I have to say that $30/month is a bit steep. Perhaps for $10/month. I belonged to a quilting guild which charged $20/year and we had our own library for borrowing from, plus all the monthly meetings and some monthly stitching groups that met in folks’ homes. The library was not the big expense item either – the newsletter was. With up to 200 members, and with advertising, too, it was a bit costly each month to mail. Now that the internet has rescued the day, that must have gone down (I no longer edit the newsletter). These are definitely special interest books and give us a chance to see if we would want it enough to buy our own copy or not. I agree that it is hard to find some of the PF books in the local libraries, and I hate to fork out the dough then find I got one that really doesn’t appeal to me. A private club – starting with those who already share their review copies and may have a bit of trust – developed into an ‘invitation only’ type club, with dues and ways to track down any offending members (i.e., must give up anonymity and location to other members) might be the way to go. I’ve thought of opening my own in some overseas location for ex-pats – sharing my library first-hand rather than selling it on craigslist when I was through with a book.

]]> By: Mr. Cheap http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7059 Mr. Cheap Mon, 21 Jul 2008 16:54:32 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7059 Sam: but there aren't extensive, free on-line versions of every book for every fringe interest. Some stuff you can only get in paper form. Sam: but there aren’t extensive, free on-line versions of every book for every fringe interest. Some stuff you can only get in paper form.

]]> By: Sam http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7052 Sam Mon, 21 Jul 2008 09:21:21 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7052 Wait, why go to a library when you always have an online version for free at the comfort of your own home? It is for the same reason hard bound encyclopedia's are almost non-existent now adays due to the emergency of its online version? Sam Fix My Personal Finance http://fixmypersonalfinance.com/ Wait, why go to a library when you always have an online version for free at the comfort of your own home? It is for the same reason hard bound encyclopedia’s are almost non-existent now adays due to the emergency of its online version?

Sam
Fix My Personal Finance
http://fixmypersonalfinance.com/

]]> By: Cath Lawson http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7041 Cath Lawson Sun, 20 Jul 2008 12:52:26 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7041 Mr Cheap - this is a pretty cool idea. I remember reading about the original idea you mentioned in Rich Dad Poor Dad too. You could also turn it into a sort of networking club for investors and charge an additional fee for that. Mr Cheap – this is a pretty cool idea. I remember reading about the original idea you mentioned in Rich Dad Poor Dad too.

You could also turn it into a sort of networking club for investors and charge an additional fee for that.

]]> By: Mr. Cheap http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7031 Mr. Cheap Sat, 19 Jul 2008 15:44:46 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7031 Kyle: It was good. It pays well (compared to "McJobs" here in Canada), great way to see another culture from the inside (living there instead of just visiting). I'd recommend it! Tim: That's be another way to go too... dcr: That could work. Kyle: It was good. It pays well (compared to “McJobs” here in Canada), great way to see another culture from the inside (living there instead of just visiting). I’d recommend it!

Tim: That’s be another way to go too…

dcr: That could work.

]]> By: Weekly Roundup: Pool Party Edition at Clever Dude Personal Finance & Money http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7030 Weekly Roundup: Pool Party Edition at Clever Dude Personal Finance & Money Sat, 19 Jul 2008 12:31:14 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7030 [...] - Four Pillars has a wacky business idea: private libraries [...] [...] – Four Pillars has a wacky business idea: private libraries [...]

]]> By: dcr http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/comment-page-1/#comment-7027 dcr Sat, 19 Jul 2008 05:11:05 +0000 http://www.moneysmartsblog.com/wacky-business-idea-5-private-libraries/#comment-7027 You know, this could work too for existing businesses as a real world method of social networking. Say you have a gardening store. You could sell books, or you could offer customers a membership in your private library. They can buy a book at whatever price you normally sell it at, or they can pay $30/month and borrow the books they want. You could occasionally have sales to sell the used books that don't get borrowed often and replace them with new books. Naturally, it wouldn't have to be a gardening store, but this could be workable for many types of retail businesses. Plus, you would have a reason for members to return to your store regularly, especially if you host discussion groups or have guest speakers. You know, this could work too for existing businesses as a real world method of social networking. Say you have a gardening store. You could sell books, or you could offer customers a membership in your private library. They can buy a book at whatever price you normally sell it at, or they can pay $30/month and borrow the books they want. You could occasionally have sales to sell the used books that don’t get borrowed often and replace them with new books.

Naturally, it wouldn’t have to be a gardening store, but this could be workable for many types of retail businesses. Plus, you would have a reason for members to return to your store regularly, especially if you host discussion groups or have guest speakers.

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