Kroch’s Moves to Used Books
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Rickman says he got the idea from Mike Powell, head of the successful Powell’s bookstore chain, which specializes in buying and selling used books. The Portland, Oregon-based Powell’s operates several stores on the west coast as well as three in Chicago. The key to success in the used-book business, according to Rickman, is knowing which books to buy: “It’s important to be selective.” If in-demand used books are in stock it can be a profitable enterprise; used books are typically marked up 100 percent. Customers who bring in used books may receive cash or store credit at Kroch’s. To help ensure that the used-books division was properly launched, Rickman sent the manager in charge of the department to Powell’s for training.
