Follett Corporation, a $2.7 billion privately-held company that provides products, services, and solutions to the educational marketplace is expanding into the college textbook rental business at a fast pace. The trial program they tested Fall 2009 saved students on 7 campuses about $2 million. They found a winning idea to expand their ultra successful 137-year business which was founded in 1873.
Until this rental idea was put in place, students had to either come up with enough money to purchase new textbooks to to buy used textbooks. Follett sets the cost of renting textbooks at about half that of owning new books.
RIght now, Follett has 27 schools participating in their textbook rental program and plans are in place to expand the textbook rental program to bookstores on 400 college campuses in 2010.
For information about Follett Corp. their site is at http:/www.fheg.follett.com
Consumers, in this case, college students are demanding options and Follett found a great way to serve and satisfy this market niche demand for textbooks with the rental program.
Follett explained that they had to make the rental process easy and be willing to accomodate students, even those who are receiving financial aid or having to pay for textbook rental with college campus cards.
Follett is using social media to follow student feedback about the textbook rental program at http://www.Facebook.com/rent-a-text
Comments
See rental company reviews by the actual students that use them and live the experience:
www.rentscouter.com
Compare prices from all textbook and book rental companies.
Got something to say?
Examiner.com is looking for writers, photographers, and videographers to join the fastest growing group of local insiders. If you are interested in growing your online rep apply to be an Examiner today!