A town without bookstores is like a town without churches or bars. Minus the hymnals and happy-hour specials, the best bookshops are vital community centers where patrons can gather, share ideas, and have grand revelations or quiet discoveries. When Buffalo Street Books in Ithaca, New York, began to fail, it tapped into the strength of its community with an inspired idea: cooperative ownership.
Last spring, rather than shuttering its doors, Buffalo Street Books sold shares of the independent shop to 600-plus local “co-owners,” raising more than $250,000, reports Christina Palassio in This Magazine. Less than a year later, the co-op bookstore is thriving.