Exec Summary

816 Words4 Pages
Every quarter, thousands of students lose money by purchasing their textbooks from their school bookstore or from an online seller. This cumulative loss could be in the millions. The combined effects of high purchasing and low buy back prices as well as a textbook deficiency cause headaches for many students. To avoid these challenges students approach online bookstores to buy their books. Nine out ten UCLA students prefer buying books online because it is faster and cheaper. However, high shipment fees, receiving wrong editions, receiving the book later than the seller promises and paying for books which students never receive are enormous challenges students face from these online markets. University bookstores, by preparing more competitive and convenient services for students, can transfer the 5 million dollars spent in the online book market back to the University bookstore. We offer Smart Bruin to initially restructure the UCLA bookstore, and after its success, create branches throughout United State Universities. Smart Bruin will create profit by renting books to students while buying the books at a large discount from the publisher. Since this plan calls for UCLA to order almost 8 times as many books, it could get a 25%-30% discount up front from the publisher of the books. However, the UCLA bookstore is unable to receive this benefit due to a lack of customers. Based on surveys, the professors and departments are willing to assign each textbook to be taught at least 2 quarters and then they exercise their option to change it (if it is necessary). Therefore, this plan is designed in a way that the value of the books are received by two initial circulations and after that all the money received from renting the book becomes profit for the bookstore. Smart Bruin gives an opportunity to the UCLA bookstores to rent books to students for a quarter

More about Exec Summary

Open Document