SAN FRANCISCO (KPIX 5) – A struggling San Francisco bookstore slated for closure because of the rise in the minimum wage, will get to stay open thanks to an infusion of cash.
When Borderlands Books on Valencia Street had to pay employees more, it became unprofitable. The owner came up with an idea to make money: sell memberships to make up the shortfall.READ MORE: UPDATE: Crews Respond To Structure Fire In Oakland
Owner Alan Beatts said the response was enthusiastic. “We needed to get 300 sponsors at $100 each,” Beatts told KPIX 5. “We had those in less than 48 hours from when we announced it. And at this point, the count for sponsors is just over 450.”READ MORE: CA Election Officials Want Newsom Recall Held After Mid-September
Members get priority seating at the store’s events, as well as access to limited edition items. There will be other benefits yet to be determined.MORE NEWS: UPDATE: Evacuation Orders Lifted After Vallejo Crews Knock Down 4-Alarm Brush Fire
The owner said he hopes this idea will spread to other independent bookstores across the country.