“I am grateful for all of the expert assistance I received from the SBDC. The step from Manager to Owner was an entrance to a new world. The SBDC helped me to understand the many things I needed to do, and gave me inspiration and the push to get there.”
The City of Hayward’s local beloved sole independent bookstore, “The Book Shop” lost its lease and the owners decided to close down after 57 years of business. The situation looked grim, but Renee Rettig, the 21-year store manager and avid book enthusiast, determined she would take the plunge to buy the assets and open a new bookstore in a new downtown location. However, she needed funds to purchase the assets of The Book Shop and fund the construction for the new store. Renee was referred to the Alameda County SBDC by the City of Hayward to assist her in the asset purchase, negotiating a new lease for a new location, building her business plan and securing financing for the new store.
Renee worked with Lee Lambert over many sessions to advise on the lease negotiation, assess financing options, review and revise her business plan and launch a crowdfunding campaign. She attended several SBDC Seminars including Social Media, Marketing Basics, Business Law and Tax Strategies sessions.
Renee launched an Indiegogo crowdfunding campaign to raise funds and had raised 50% of her goal within the first 10 days. In total, her campaign raised over $70,000 from 480 contributors! She was able to successfully negotiate a lease with the new landlord and a tenant improvement grant from the City of Hayward. Within five months she opened Books on B with a Grand Opening Reception with music, food and poetry, which was attended by 500 people.