BackThe Eternal Library | Other people’s books
They help people build libraries in their homes and offices
Premium
Past life
In July 2011, Mumbai-based Meethil Momaya, 33, co-founder, The Eternal Library, attended a full-time, one-month course in book publishing conducted by the National Book Trust, New Delhi. A professional wildlife photographer, Momaya did the course with his wife and co-founder Ahalya Naidu to understand how he could promote Indian wildlife through books and felt it would give him a better insight into the Indian (and international) publishing industry.
Naidu, 30, a former features writer and editor, started as an independent book editor (Literary Angels, www.literaryangels.com) in 2007, offering manuscript critique and editing services to publishers and writers. She conducts creative writing workshops for children.
“I’ve always wanted my own little book store," says Naidu. “When I met Meethil, we realized this is a wish we both share. We looked for places in Mumbai, but considering the kind of book store we wanted to create—the shelving ideas, the eclectic inventory, the staff, the events and activities—we realized we did not have enough funds to operate that kind of a book store. So we shelved the idea."
Meanwhile, via the Literary Angels blog and a tiny spot on a radio show on 90.8 Jago Mumbai (a community radio station in Bandra), another spot on 94.3 Radio One’s Drive Mumbai (hosted by Erica D’Souza), Naidu got the opportunity to talk about books. “I got a lot of feedback from listeners who were avid readers, and via Facebook. Based on the positive feedback, I began recommending books."
Eureka moment
“The idea didn’t come to us overnight," says Momaya. “We were already providing book recommendation services to readers (who happened to ask us, or pick up a book after hearing Ahalya on radio, or via email/blog/Facebook) without formally calling it The Eternal Library. When we realized we could not set up a book store immediately we decided to go to the next step—reach the reader directly."
Momaya and Naidu travel to Delhi often for publishing conferences and always return home with more books than they have space for. “We often joked about starting our own library. Suddenly, it wasn’t a joke any more. We looked for a place in Mumbai and once again money was our roadblock."
The idea of opening a business that would help people set up libraries came from here. “That’s when the idea of The Eternal Library was born. We knew we didn’t have enough funds to rent out our own space and stock it with books, but there were existing libraries or places that had enough room for a reading space. We knew we could set up, add to and manage more than one library, recommend books to readers by analysing their tastes and preferences, and really promote reading," explains Naidu.
The Eternal Library took firm shape when the couple spent a few days in Goa in a beautiful hotel that had a poorly stocked library. They spent the holiday building up a case study—making dummy forms, buying lists, and studying the guests in the hotel. They also spoke to distributors and publishers, readers and business owners to gauge the response.
Genesis
Neither has a background in library science. Their core competence is in selecting and recommending books to readers. For they have contacts in the industry and know which books are coming out and which to recommend, a network of vendors, including book distributors and retailers, and a wide circle of readers who have a discerning taste in books. “The service is new. We bundle together three main tasks—research, procurement, and management/maintenance of a library. Our clients are happy when we take care of a number of services for them because that makes the process more coordinated, and the library is a better place," says Momaya.
So far, they have one client, and four projects in the client approval stage. To create personalized systems, TEL is geared for various categories of clients (individuals, hotels, offices, gymkhanas, housing societies), and within these, they can customize. Since they plan to cater to specific preferences, fee too would vary. Some technical genres, for instance, are difficult to research, some books are expensive.
“We decided at the start that the deal will be based on a client’s budget, their reading speed (for individuals) and the frequency with which new books are released in their field of interest. So we charge 25% of the annual book-buying budget as our fee. This covers researching the books and sending it to them. We don’t usually send all the books at one time, unless our client is setting up a new library and wants it done that way. We send them new books as and when they are released," explains Momaya.
TEL works on an annual contract “We first seek the client’s approval by sending them a brief description of the books. Once they approve, we buy and courier it to them. For individuals, the deal may start at ₹ 10,000 a year, in which they will be supplied with books worth ₹ 7,500. This cost includes cataloguing for the new books. Since we offer a personalized approach, it’s difficult to give you an exact cost of the service. It depends on what the client asks for," adds Naidu.
For clients located out of Mumbai, they send an exhaustive form so that they are better prepared. “We need to frequent a location when a library is set up so that we can have live/immediate feedback from our clients and our readers—that is always important," adds Momaya.
Reality check
One problem TEL’s creators face is convincing clients that a well-stocked library can give their property a facelift and make it more engaging for patrons or residents. “It is hard for us to illustrate how different we can be in selecting books. At present, I cannot say there is a demand for such a service. It will take time," says Naidu.
Plan B
“I wish I could say that if this does not work, we will put our feet up and read a book but, even when we are doing that, we will be thinking which of our clients would have enjoyed this book. Before we decide that the service is not working, we would like to narrow the scope and may cater only to hotels and builders (real estate developers) and market the concept through them," says Momaya.
Secret sauce
Naidu says: “Our idea of a library is that it should be personalized, updated, and home to niche subjects. It isn’t just about best-sellers, and what’s been popular for years. Based on our experience and that of all the readers we know, we can build a comfortable reading environment in offices, clubs, hotels, housing societies, and even hospitals." The duo regularly follow book review columns in magazines, as well as websites and blogs.
Previous Cool Ideas issues: 2007, 2008, 2009, 2010, 2011 and 2012
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
