Tony Nash worked for Angus & Robertson, then he bought it. Now the Booktopia CEO’s next chapters will be set on the ASX and overseas.

Need a copy of the Australian Police officer Exam? Booktopia’s CEO Tony Nash is the man to see. Louise Kennerley

With his sights set on $85 million revenue for 2015/16, and a potential float to support speedier expansion into international markets and acquisitions, Booktopia CEO Tony Nash is still bullish on books.

Founded in 2004, Booktopia was a feature of the BRW Fast 100 for six record-breaking years (only narrowly missing out in 2015), and despite the unstoppable tide of all things digital, 93 per cent of its revenues come from the sale of physical products.

Booktopia this month won a BRW-PwC Aspire Award in the Private Growth and Transformation category, for organisations with annual revenues between $10 million and $100 million. It now plans to burst out of that revenue band.

Online demand for books continues to grow. According to IBISWorld, the Australian online book market is worth $231 million, and growing 15.5 per cent a year.

While a local leader in the market, Booktopia still faces stiff international competition from the likes of Amazon and Book Depository, which can on occasion prove cheaper. Where the company has the edge over online rivals and physical stores, according to Nash, is in its understanding of and ability to nimbly service the local market.

“We think like technologists rather than booksellers. For us to hold a copy of the Australian Police Officer Exams makes sense, because sales tick over all the time.

“It’s that entrepreneurial mindset that has allowed us to look at bookselling in a different way. And we have the phone number on the website, so people can ring us and speak to someone in Australia and that builds trust.”

Nash, 52, founded and built the business with his brother-in-law Steve Traurig, sister Elana Traurig and brother Simon Nash, who between them still own over 90 per cent of the business with the remainder shared among staff.

Nash’s first big brush with books was in 2003, when he was hired by Angus & Robertson to optimise its website and searchability.

He recognised the growth opportunity and working with his family set up a competing website to start selling books, but was allowed a budget of just $10 a day to fund marketing. While it took three days to sell the first book, by the end of the first year Booktopia was handling $100,000 sales a month.

It rapidly expanded operations, built its own distribution centre and focused on growth. “Today we have 125 staff and a 10,000 square meter operation at Homebush with millions of books and automated conveyers.

“At the end of August we bought Angus & Robertson - so I came full circle.”

With an appetite whetted for expansion and a conviction that online will continue to expand its share of the overall retail market, Nash is now exploring a possible IPO and international expansion, though he won’t say which countries he will start with.

Not that the float is essential: “If we stayed owning all the equity we would be a $150 million company on our own.”

Nash is adamant that if the float goes ahead Booktopia’s “nimble mindset” won’t be swamped by reporting requirements.

“You have to surrender to the fact that some things will take longer but hopefully hold onto the roots and make fast decisions while realising that we can’t be as dynamic as we were in the early days.”

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