Follett Higher Education Group Announces Online Textbook Rental for Independent Bookstores

(PRESS RELEASE) --

OAK BROOK, IL, March 15, 2010 – Follett is launching two new college textbook rental programs for independent bookstores: an online affiliate program powered by BookRenter’s technology platform and an in-store rental support program.

By partnering with BookRenter, Follett becomes the nation’s first and only textbook wholesaler to offer rental through a customizable online storefront. Simple to implement, Follett’s online affiliate program provides students access to millions of rental titles, enhances bookstore competitiveness and adds to bookstore revenues - without adding operational complexities.

“Independently-managed college bookstores are seeking ways to stay competitive and better serve their customers,” said Thomas A. Christopher, President of Follett Higher Education Group. “Our unique rental offerings provide access to cutting-edge technology and Follett’s best-in-class resources to help students save millions of dollars on higher education costs.”

Unique Advantages
By leveraging its resources, relationships and rental expertise, Follett offers bookstore managers the flexibility to choose one or both of these two new rental solutions to fit their unique needs:

● Online Affiliate Program – a turnkey rental service featuring guaranteed revenue share, an expansive list of titles made possible by dynamic pricing, a branded online rental solution , and an option to serve as the students’ “return depot” – driving foot traffic back to the bookstore at the close of the academic term
● In-store Program – an in-store rental support program for Follett’s independently-managed college store partners with inventory protection, logistical support, in-store and online marketing materials and access to Follett’s rental expertise.

Affiliate Program Powered by BookRenter
To deliver online affiliate rental capabilities, Follett has partnered with innovative textbook platform companyBookRenter. Utilizing BookRenter’s technology platform, Follett will offer customized, bookstore-branded rental websites featuring bookstore-unique URLs where students can rent textbooks online.

“We are very pleased to partner with Follett on this important, game-changing program,” said Mehdi Maghsoodnia, Chief Executive Officer of BookRenter. “Our goal at BookRenter is to make education more affordable by providing access to textbooks at discounted prices. Working together with Follett, we can help make rental a reality for the millions of students who shop at independently-managed bookstores.”