There are just a few days left to join the hundreds of booksellers who have found the ABACUS survey to be an invaluable tool for financial and strategic planning. Booksellers are encouraged to submit their store’s 2016 financial data by the September 27 deadline.
Last summer, ABA Provisional member Noelle Santos, who is planning to open The Lit. Bar, a general interest bookstore/wine bar, in the Bronx, wrote an open letter to the bookselling community in which she encouraged all ABA member stores to participate in ABACUS.
“As a prospective bookseller, ABACUS is my lifeline,” Santos wrote. “ABACUS gives me something tangible, credible, and easily digestible to educate people that are integral to my progress.... Yours are the first reports my potential landlords look at because one day I will be small and new. For you vets in the game, the first thing my potential investors look at is your data to measure my potential with all my unique variables — that ABACUS so beautifully breaks down. Your surveys arm me against all those you-can-never-be-Greenlight-in-Brooklyns.”
For ABACUS to succeed, a critical mass of indie bookstores must complete the survey by September 27.
ABA member bookstores should look for the e-mail sent on August 23 from Michael Becher of Industry Insights (via the e-mail address email@example.com) with instructions on how to access this year’s survey. ABA members can complete the survey securely online or download a PDF version of the form to complete and return to Industry Insights.
The deadline for submitting to ABACUS-16 is Wednesday, September 27. ABA member bookstores can begin the submission process by going to www.ABACUSbenchmarking.com. Please note that you will have to set up a new ABACUS account from the secure ABACUS-16 website.
Once stores submit their 2016 financial data — which should take approximately 30 minutes — they are eligible to apply for the Avin Mark Domnitz Scholarship to attend the upcoming Winter Institute (January 22–25 in Memphis, Tennessee) by sending an e-mail with “Domnitz Scholarship” in the subject line to ABA Senior Strategy Officer Dan Cullen. The e-mail should include the applicant’s name, staff title, store name, and store contact information.
By submitting their store data for ABACUS-16, stores will receive a detailed individual store performance report that analyzes their financial results, including relevant and insightful benchmarking comparisons across a number of criteria.
As part of this new partnership with Industry Insights, in addition to the customized printed report, bookstores participating in ABACUS-16 will be able to access a secure and private online searchable results tool that allows users to compile ABACUS data using criteria that they select.
Booksellers with questions about submitting to ABACUS-16 are encouraged to contact Michael Becher, CPA, of Industry Insights at (614) 389-2100, ext. 114, or at firstname.lastname@example.org. Booksellers who have general questions about ABACUS can contact ABA’s Dan Cullen via e-mail or at (800) 637-0037, ext. 7560.