Every time I tell people I want to open a bookstore I get weird looks that can be roughly translated as “have you really thought this through?” Then they ask me if I know about ebooks and how I feel about having to compete with Chapters/Indigo. I tell them about my business plans and assure them that ebooks will not drive the bricks-and mortar bookstore out of business. This has been a scary few weeks for bookstores in Toronto crossing all genre bounds.
Two weeks ago Glad Day Bookstore, which is considered one of the first LGBT bookstores worldwide (and definitely in Canada) announced that it was up for sale. Last week The Book Mark, widely thought of as the oldest independent bookstores in Toronto, announced it will be closing. Last night I found out that Dragon Lady Comics will be closing its store and moving to online sales at the end of the month. Although I’ve only ever been to one of these three bookstores I know of them all by reputation and they are all widely regarded as high-quality bookstores which have great selections and knowledgeable staff.
Each owner has his or her own reasons for closing, but they all seem to boil down to one basic reason: it’s not financially sustainable to run an independent bookstore in Toronto these days. The owner of Glad Day has said that he has needed to put his own savings into the store to keep it afloat. The owner of the Book Mark cited a rent increase as the reason why the store was going to be closing for good, She did not feel that it was due to difficulty in competing with large chain stores and online retailers or ebooks. Dragon Lady comics pins the reasons for closing the store on less foot-traffic, lower sales, and a rent increase.