Thanks to 'camden lock books' and 'The Bookseller' of course, an excellent article on the survival of the Independent Book Shop'.
It ends with a ten point list on the way ahead.
The one they've missed is, 'Have enough capital to start with so that you can buy your own premises, avoiding rent and overdraft charges'.
I like the point about running a bookshop as a hobby though. I'm sure that's what we're doing.