How A 26 Year Old Student Runs An Online Library Worth Over KShs. 700,000/= Vincent Luvita jointly operates an online bookshop called Booksaves Online with a friend. The back end of his bookshop is located at Kalson Towers in Parklands while the front is online. 26-year-old Vincent is among the increasing numbers of young people utilizing online platforms to better their business prospects and lives in the process. The purchasing and supplies student at Jomo Kenyatta University of Agricultural Technology explains how he stumbled upon the unique bookshop concept. “I used to work in a bookshop and discovered that people would come and look and books then walk away after glancing at the price tag,” he says. “You could see their genuine desire for reading but the cost was prohibitive so I thought of a way to solve the problem. I presented my proposal to my then boss but when he took too long to respond, I took the same idea to another friend who immediately embraced the idea. We are currently two shareholders and soon bringing a third on board.” The entire capital the two business partners needed to marshal at the start of the year was Ksh 1.6 million including the stock of books. But with Ksh 723,000 as starting capital, they were good to go. While his other partner does not take an active role in the business, Vincent is the man in charge of running the day-to-day affairs of the business. His regular day after classes involves sourcing for clients and coordinating the supplies and delivery of books. Vincent Luvita, founder Book Saves “Initially I delivered books manually but I later discovered my work could be made much easier when I sold them online. The process is simple; you log onto our website booksaves and create an online account with us. This will allow you to see the varieties of books we have in our database and sample out the ones you are interested in reading,” he explains. As part of the client information, one also has to provide their physical address in his online account so the delivery guy will get the books when one orders for them. All these are done at the subscription rate of Ksh 2,500 a year. Those within the city get new books to read and when they are done they can order for fresh ones as the delivery personnel retrieves the old copies. “The service is unlimited and depends on how much you desire to read,” he elaborates. “However, those who live outside the city might be required to pay a small fee to cater for the transportation costs.” The charges for these extra miles, he says, are about Ksh 300. To take care of deliveries he engages the services of a motorcycle courier. “We have all kinds of books ranging from motivational texts (both fictional and non-fictional) management books, novels, romance texts, espionage,” says Vincent. Where did he borrow the model from? “I looked up online from the websites that sell books online and discovered they also hired out books at a fee. I also realized that in Kenya almost nobody runs an online library so I borrowed the idea and decided to give it a local adaptation.” “We are trying to realize our weaknesses and learning on the job at the same time. The lessons are immense starting from our reading culture. For example, right from the bookshop, I realized that most people who buy books for their own reading are middle-aged Kenyans.” What’s the promotional strategy? “We are soon launching our promotional points at Sarit Centre and Nakumatt outlets,” he says. “I’m a graphics designer and currently that to great use as I create our promotional material including banners, fliers and online graphics.” For now Vincent’s target is getting at least 1,000 members this year and expanding the library. And to get a month’s math right, it takes him about 200 clients against the subscription fee of Ksh 2,500 to more than break even. That translates to Ksh 500,000 which easily foots the bills and other expenses such as rent, staff salaries. Looking forward, he remains optimistic that his business model is right on track. “What I appreciate most of the library service is that it keeps getting lucrative with the increase in subscribers. You retain the books but still get the money. Moreover, we have terms and conditions for our clients to take care of the loss or damage of books,” he says. Maybe his concept could be the start of a Kenyan Amazon. Let’s keep watch.
Posted on: Wed, 12 Mar 2014 19:27:51 +0000
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