The Bookstore Dream Is Real (and the Margins Are Terrible) | Kristen Iskandrian of Thank You Books

What does it really take to open a bookstore, survive a pandemic in your first year, and expand twice in six years? In this episode of The Localist, Carrie Rollwagen sits down with Kristen Iskandrian, co-owner of Thank You Books in Birmingham's Crestwood neighborhood. Thank You Books opened in December 2019, just months before COVID. Six years later, they are doubling their footprint. Kristen and Carrie talk about retail leases, sideline items, signed first edition subscriptions, why bookstore margins are thin, how to host author events that pull a crowd, and what it really means to build community around a store. Carrie was co-founder of Church Street Coffee and Books and managed Jonathan Benton Bookseller, so this conversation goes deep into the business and the dream of independent bookselling. ______________________________________________________________________________________________ Connect with Thank You Books Thank You Books is an independent bookstore in Birmingham's Crestwood neighborhood. It was founded in December 2019 by Kristen Iskandrian, Laura Lilly Cotten and Elizabeth Goodrich. Today the store is co-owned by Kristen and Elizabeth. 5502B Crestwood Boulevard, Birmingham, AL 35212 Website: https://thankyoubookshop.com/ Shop Thank You Books merch by MAKE Birmingham: https://www.makebhm.com/ Instagram: / thankyoubookshop Mentioned in This Episode Thank You Books: https://thankyoubookshop.com Shop Thank You Books merch at MAKE Birmingham: https://www.makebhm.com Thank You Books Merch and Local Goods: https://www.thankyoubookshop.com/merch Thank You Books Firsties subscription: https://thankyoubookshop.com/firsties Thank You Books on Libro.fm: https://libro.fm/thankyoubookshop Thank You Books on Bookshop.org: https://bookshop.org/shop/thankyouboo... Crestwood Pharmacy:   / crestwoodpharmacy   Red Bike Coffee: https://www.redbikecoffee.com Jonathan Benton Bookseller (Carrie's old store): https://www.jbentonbooks.com Parnassus Books (Nashville): https://www.parnassusbooks.net Ingram (book distributor): https://www.ingramcontent.com Paz & Associates Bookselling Bootcamp: https://www.pazbookbiz.com Alabama Booksmith: https://www.alabamabooksmith.com Little Professor Book Center: https://www.littleprofessorhomewood.com American Booksellers Association: https://www.bookweb.org Indie Bookstore Day: https://www.indiebookstoreday.com Winter Institute: https://www.bookweb.org/wi Birmingham Mountain Radio: https://birminghammountainradio.com Square Books (Oxford): https://www.squarebooks.com Bookshop.org: https://bookshop.org Libro.fm: https://libro.fm ______________________________________________________________________________________________ 📌 Chapters 00:11 Introduction to Kristen Iskandrian and Thank You Books 02:12 The second expansion and how it came together 07:31 Why retail leases work very differently from apartment leases 10:47 A community store moment from Carrie's bookselling days 11:24 Special orders, parking and the practical side of bookselling 13:22 Designing a store by responding to what customers actually do 16:12 The dream of owning a bookstore vs. the business of owning one 17:53 How Kristen learned the bookselling business 21:00 Why hospitality matters as much as the product 22:24 How to run a values-driven business that takes care of staff 23:46 Why bookstores have to charge what they charge 26:43 What is a dream of owning a bookstore and what is not 31:33 The power of community around a bookstore 32:14 How the Firsties signed first edition subscription works 38:30 How book box subscription programs work behind the scenes 39:31 Why a bookstore selection should reflect the neighborhood 43:11 Sideline items and how Thank You Books curates them 48:01 Field research at other bookstores and conferences 51:42 How to choose which events become traditions and which to let go 55:33 Putting Birmingham on the map as an author tour stop 57:34 The hard reality of self-published author events 1:00:01 Successful author events and why authors have to bring the crowd 1:02:25 How to shop Thank You Books online and from anywhere in the country ______________________________________________________________________________________________ 📢 Thanks to Our Sponsor, Infomedia The Localist is sponsored by Infomedia, a Birmingham-based web and digital marketing company that helps small businesses get big results online. Contact Infomedia: https://infomedia.com/contact ______________________________________________________________________________________________ Join Us at Localist Lab Localist Lab is our free live marketing event series for small business owners, held on the third Thursday of most months at Saturn in Avondale. Each session features practical strategies you can use right away, plus free tacos and coffee. See upcoming events and register: https://infomedia.com/events