This bookstore’s story is turning a new page.
words!, an independent bookstore in Asbury Park, is following the trend of becoming a cooperative bookstore, in hopes of becoming sustainable, the bookstore’s manager said.
First reported by the APP.com, words! launched its membership drive and capital campaign in late November. Liza Minno Bloom, the store’s manager, said about 10% of funds have been raised so far.
“We see the transition to a community-owned cooperative as an opportunity for people to step up,” Bloom said, “and join efforts in keeping this unique and precious community resource alive and helping it to thrive, financially and otherwise.”
A cooperative is an enterprise that is owned, controlled and run by and for its members, according to the International Cooperative Alliance. Members share equal voting rights in the system.
Bloom said the community has become active in the store over the last few years, hosting everything from storytimes and readings to open mics and art shows. She said the space “organically evolved” into something that already feels community-run.
“We see the transition to a cooperative as a way to ‘put a ring on it’ if you will,” she said. “Our community wants the bookstore to be a community space and the community-owned co-op model allows that to happen.”
The cooperative, named the Asbury Book Cooperative, is offering memberships for the annual cost of $25 to $200, depending on what people are able to pay. Membership provides tickets to events and sales, and everyday bookstore discounts, Bloom said.
Members are also given a vote at the annual member meeting, which will have a nominated board of directors. The larger the share in the store, the greater the benefits a person receives.
The bookstore is also seeking larger donors to help underwrite the costs of transition, Bloom said. They hope to raise $100,000 to cover the costs by May. The bookstore has about 100 members and anticipates gaining 300 more by the launch date.
The money raised will go toward rent, salaries, and store improvements, which include increased inventory and a website. Members won’t receive a share of the profits at this time, Bloom said.
Locals and regular customers have been overwhelmingly supportive, Bloom said.
“People have seen towns that have lost bookstores because of the ubiquity of online shopping and they realize that when you lose a bookstore you lose so much more than a retail space,” she said.
“People are adamant about keeping a bookstore in Asbury Park; they are very protective of it, so this is an opportunity for them to do so,” she said.
Anyone interested in donating money or becoming a member of the cooperative can do so here. The bookstore will also start hosting bimonthly membership information sessions for people to learn more about becoming members.
The next session is Sunday, Jan. 5 at 11 a.m. at the store. words! is located at 623 Cookman Ave. in Asbury Park. Its hours of operation are 12 to 5 p.m., Wednesday through Monday, and it’s closed Tuesday.
Brianna Kudisch may be reached at bkudisch@njadvancemedia.com. Follow her on Twitter @briannakudisch. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips.
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