Build My Online Store - E-Commerce, Entrepreneurship, & Travel
#28: Premiere Collectibles - America's Largest Autographed and Signed Book Store
This week I have Josh Smallbone, President of Premiere Collectibles to talk about how the autograph and rare book industry works online. With a unique business model of having limited inventory as an online retailer, tune in to hear how they differentiate themselves as the #1 seller of these books.
Topics Discussed:
- 02:20 - Background of Premiere Collectibles
- 04:00 - Sourcing inventory of autographed books
- 05:30 - Sales process of sourcing inventory
- 07:00 - Dealing with sports stars and autographs
- 07:40 - Pricing of autographed books, supply and demand
- 09:45 - Competing with Amazon
- 10:15 - Rare books vs autographed books
- 11:30 - Profile of collectors and avid fans
- 12:30 - How the market has changed for independent retailers
- 13:30 - Exclusivity as a competitive advantage
- 15:38 - Building relationships with the top book publishers
- 17:40 - Two-pronged approaches to relationship leverage
- 19:00 - Strategy for building relationships with B2B contacts
- 21:00 - Certificate of authenticity and auto-pens
- 24:50 - Setting aside inventory as future investments
- 25:45 - What happens when inventory runs out
- 27:30 - Limitations of the business model
- 30:20 - Insurance on the products
- 34:30 - Importance of having a strong customer list
- 35:00 - Lifetime value of a customer for Premiere Collectibles
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