The Netflix of Textbooks

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The Netflix of Textbooks

Postby cheap-textbooks » Thu Aug 02, 2012 6:58 pm

A Utah-based company has carved itself a $40 million cut in the $10 bill varsity textbook industry by renting books to scholars on six thousand different campuses, both online and thru 180 school bookstores. CampusBookRentals.com is on course to rent out a million textbooks this year not bad for a business set up on $250,000 in Visa card loans.

As an undergrad and graduate student, CampusBookRentals' General Manager and founder Alan Martin grew exasperated with the cost of high-priced textbooks and took to scouring the web for inexpensive bargains.

"I'd sell my books and was essentially breaking even by paying close attention on when to sell and when to buy," explained Martin. "The idea struck me if I could do it on a large scale I could doubtless turn a profit." Set up in 2007 and bankrolled by at least fifteen cards spread between 5 mates, CampusBookRentals now makes a twenty percent profit per book while saving scholars more than $40 million in the year. The team can generate such healthy margins by employing a complicated procedure to forecast a book's life cycle, which analyses the successfulness of similar books. This permits CampusBookRentals to hike the price if a book is probably going to only rent once, or lower it if it is a preferred title. Nothing goes to waste when books are outdated, the company sells them on.

Numerous other internet sites like Chegg and ValoreBooks rent textbooks to scholars, but with CampusBookRentals' complementary shipping and student-run help centre, Martin is proud to say few rivals offer the shopper support of his company. "We sort of fell completely in love with the way Zappos treated people," expounded Martin. "We attempt to work steadily to keep them content and have them come back." It looks to be working, half of all books rentals go to return purchasers, and each student usually rents at least 2 books. This might account for CampusBookRentals amazing expansion 2 years back they managed $8.8 million in rentals, but in the last financial year that escalated to $23 million. This year the company is on course to hit $40 million in income, and Martin now has 120 workers working in the warehouse to ship and receive orders, mend books, and manage the call centre.
Bob
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