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Avenue Bookstore, which is owned by Chris Redfern and is one of Australia’s award-winning bookshops, was opened in 1986 in the heart of Albert Park village. Redfern regards the business as a book haven, a favourite meeting place and a destination for book lovers across Melbourne and beyond.
There are also stores in Elsternwick and Richmond that carry an extensive and personally curated range of local and imported books with a strong focus on the best new releases and backlist titles in all categories. Avenue Bookstore prides itself on a high level of customer service and knowledgeable staff.
Redfern believes that despite the threat of e-books and online suppliers such as Amazon and the post-Borders world, ‘there is a great opportunity for good bookstores to thrive’ and going to a local bookshop ‘is a cultural experience, a curated experience’. He says that customers choose books and Avenue Bookstore employees talk to them about their selections or assist them in choosing books.
Avenue Bookstore: https://avenuebookstore.com.au/pages/480-About
‘The resurgence of Melbourne booksellers despite the digital revolution, The Age, 15 September 2016: https:// 1
Describe the legal business structure you believe is suitable for the Avenue Bookstore. Explain one advantage and one disadvantage of this.
Outline three resources (natural, labour or capital) Avenue Bookstore needs in order to operate.
Avenue Bookstore has three stores in different suburbs in Melbourne: Albert Park, Elsternwick and Richmond. Explain one factor Chris Redfern would have considered when choosing the location of his stores.
Outline a source of finance that Chris Redfern could have used to finance Avenue Bookstore.
Explain the strengths and weaknesses of Avenue Bookstore having a bricks and mortar business and an online store.
Describe how Avenue Bookstore could use a SWOT analysis to assist with its business planning.
Prior to the establishment of any business, the owners should develop a business plan. Describe the benefit for Avenue Bookshop of using a business plan.