14/3/2015 Your Institutional Bookstore… the model that WORKS! Mark Palmore Executive Director Connect2One.

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Presentation transcript:

14/3/2015 Your Institutional Bookstore… the model that WORKS! Mark Palmore Executive Director Connect2One

4/3/20152 Why should you keep YOUR bookstore institutional? Because your Institutional bookstore… is an essential part of the success of your campus! is an essential part of the success of your campus! contributes to the quality of life at your institution. contributes to the quality of life at your institution. meets and exceeds the academic needs of your students, faculty, staff, administration, and alumni. meets and exceeds the academic needs of your students, faculty, staff, administration, and alumni. YOUR institution is your bookstore’s primary concern!

4/3/20153 YOUR Institutional Bookstore… is a window to your school. is a window to your school. exists to serve the needs of your campus. exists to serve the needs of your campus. offers a balance of service and revenue. offers a balance of service and revenue. listens to the needs of faculty, students, staff, administration, and alumni. listens to the needs of faculty, students, staff, administration, and alumni. is part of the positive image of your institution. is part of the positive image of your institution.

4/3/20154 By staying institutional… YOU control any changes in: YOU control any changes in: – the level of service and staffing. – merchandise and product mix. – pricing and return policies. – marketing and advertising. – staff training and morale. – course material options for students, including used and new books, rental books, digital materials, e-books, and buyback. YOU control the success of YOUR store! YOU control the success of YOUR store!

4/3/20155 What could happen if you decide to outsource your store? Your staff morale decreases and you lose the expertise of long-term dedicated staff. Your staff morale decreases and you lose the expertise of long-term dedicated staff. You lose touch with your customers because of centralized buying. You lose touch with your customers because of centralized buying. Your service level declines. Your service level declines. YOU lose control of the store and any revenue increase! YOU lose control of the store and any revenue increase!

4/3/20156 Contract management firms’ first obligation is to their corporation, NOT to your institution! Students and parents pay more for textbooks, supplies, and apparel. Students and parents pay more for textbooks, supplies, and apparel. If you outsource, you have allowed someone outside of your institution to take control of an important facet of your campus image…is that a good decision for your institution? If you outsource, you have allowed someone outside of your institution to take control of an important facet of your campus image…is that a good decision for your institution?

4/3/20157 With contract management... The institution does not share in the benefits of the buying power. The institution does not share in the benefits of the buying power. Selection of items is reduced. Selection of items is reduced. Additional profits beyond the contract go to the corporation…not your institution. Additional profits beyond the contract go to the corporation…not your institution. You have NO input in the management of YOUR store, outside of the contract! You have NO input in the management of YOUR store, outside of the contract!

4/3/20158 What are your OTHER options? If the issue at your institution is bottom-line, raise prices on GM items (the lease companies will), reduce outdated services, and partner with a wholesale book company to expand your rental program. If the issue at your institution is bottom-line, raise prices on GM items (the lease companies will), reduce outdated services, and partner with a wholesale book company to expand your rental program. You can do it, we can help you succeed! You can do it, we can help you succeed! Keep the store institutional and use the many resources available to you as a member of Connect2One. Keep the store institutional and use the many resources available to you as a member of Connect2One.

4/3/20159 Connect2One An Alliance of Independent College Bookstores Buying Power! Buying Power! Store Consulting! Store Consulting! YOUR Institution directly benefits rather than contract management company! YOUR Institution directly benefits rather than contract management company! YOUR store stays INSTITUTIONAL! YOUR store stays INSTITUTIONAL!

104/3/2015 Thank You!