Spring Street bookstore launches fundraiser to build book 'labyrinth'
The Last Bookstore launched an online fundraiser to raise money for an in-store expansion.
DOWNTOWN LOS ANGELES — Spring Street's The Last Bookstore is launching a $20,000 fundraiser to expand their store and create a space dedicated to selling more than 100,000 books for $1 each, according to the store's website.
The store aims to expand by 6,100 square feet, into the mezzanine above their ground floor, to create a "true two-floor book bonanzarama." According to the bookstore's indiegogo donation page, they are "drowning in good books" and need more room to house and sell them.
The store's starting goal is to raise $10,000 for lumber costs -- but they're hoping for $20,000 which they say would also cover paying for workers to set up and organize the new space they're calling the "labyrinth." If the store raises more than $20,000, the extra funds will be used to hire local artists to decorate the space.
Although the bookstore is already an established business, their donation process works similarly to the increasingly popular Kickstarter website that facilitates the funding of new, independent ventures. The Last Bookstore is offering incentives for donors -- giving store credit for merchandise in exchange for financial contributions.
People who give $5 will receive $6 in credit towards any used books, CDs or DVDS -- the amount of credit increases in conjunction with the size of the donation. For big spenders who pledge $5,000, they'll receive an equal amount in store credit and 30 percent off merchandise (except LPs) for life.
Half of all the net proceeds from the proposed new mezzanine level would go towards tutoring homeless kids on Skid Row. As of Monday morning, the store had raised almost $800 of their $20,000 goal.