Scenes from Buyback Fall 2009
And now, a few of our favorite scenes from this year’s many Buybacks.
The Freed Hardeman Fool Crew @ Besso's
Buying for Ouachita Baptist and Henderson State at Dino's Main Street Cafe
Buying at the excellent Underground Coffeehouse in Searcy, AR. FUN FACT: Two of the full-time Fools attended Harding Univ. in Searcy.
Buying at Something Brewing in Conway, Arkansas
Getting Foolish with the water bottles at Hendrix.
Books at Dino's Main Street Cafe
Foolin' it up at NACC, Rainsville, AL
Making it rain in Searcy!!
Buying at Freed Hardeman. FUN FACT: One of our Fool's parents went to FHU.
And finally, a short video from our visit to Calhoun Community College in Tanner, AL:
Welcome, Belmont Vision Readers
This week’s Belmont Vision features yours truly spouting off about textbooks. It’s a great article that lays out the problems with the industry and what we’re doing to address them.
When Erin contacted us to discuss our side of the story, I put some thoughts on paper about how we do what we do. It’s a little long, but it may be a view into BookFool that you haven’t seen before. First, her questions. Then, my PR-ey responses.
1) How does BookFool work?
BookFool’s model is unique in that we cut out the wholesalers and middlemen altogether. We set up shop inside local small businesses and buy our books directly from students, selling them on the national used market at the beginning of the next semester. This means that we don’t care if the book is being used at your campus again. If it’s still used anywhere in the world, we can probably buy it from you.
At Vanderbilt last year, we had a student bring us 100 old, out-of-date textbooks to price. The bookstore would not buy them and the local wholesaler had offered him $76 and three free burritos. His jaw hit the floor when we told him we could offer him over $400 for all of them. Alas, we couldn’t give him any free burritos, but I don’t think he minded!
2) How do you determine the asking price? Generally, what are your mark ups?
Because we do not have to satisfy a gauntlet of middlemen, we can pay very close to a book’s current value on the national market. Many students find that once they factor in the cost and hassle of selling online (including 15% marketplace commissions and multiple trips to the Post Office), they can actually get a better deal from BookFool than if they sold it online themselves. And they get it in Cash!
When it’s time to buy your books, our site, BookFool.com, will show you the cheapest used copies at all the major used marketplaces. If we can’t give you the best deal on a used book, we want to empower you find the best price yourself.
3. What sets you apart from a traditional campus bookstore? Why might you be the better option?
Your campus bookstore is only concerned with buying books for your campus. If they don’t need a book next semester, they will either refuse to buy it or will offer you an insultingly low “wholesale price” and pass the book along to a wholesaler.
At BookFool, we buy for ourselves and sell on the national used market, not to some middleman who takes a cut. We partner with local small businesses to host our buybacks, which means these local shops get increased foot traffic, students get a better deal on their books, and the local economy gets a much-needed cash infusion. It’s a win-win-win!
4. In your mission statement you talk about how being recent students affects the way you do business. Can you elaborate on that?
As students ourselves, we felt how powerless we were in the face of the mega-conglomerates who run campus bookstores. Because many campus bookstores had no competition until the online used market matured, their buyback attitude was often “take it or leave it…NEXT IN LINE!” BookFool is using technology to put power back in the hands of the students.
For students, just having BookFool as an option causes your campus bookstore to reevaluate their prices. We also never pressure students to sell if they’re not comfortable with a price. Students are always free to compare prices online, at the bookstore, and elsewhere, and we welcome them back if they decide we can offer them the best deal.
5. How have you marketed to students?
Word of mouth is our best friend. We use Social Media and traditional advertising methods to alert students to our coming and then let them take it from there. Once the word is out, it’s all about giving students a great deal.
6. In general, what effect do you see the price of textbooks having on students and the textbook industry?
Textbooks are expensive, no doubt about it. Many publishers look to digital textbooks as their savior, but we have yet to see a digital solution that actually costs less and put students’ needs first.
Having options is at the heart of our Capitalist economy. As long as students need books, BookFool will work to empower students with options. This means engaging with professors, student government associations, and students themselves to find solutions that respect everyone’s needs.
7. When will you be back by Cosmic Connections again this December?
Cosmic Connections is an amazing place to hold a buyback. Katherine and her staff have welcomed us there for years, and we plan to maintain this partnership for many years to come. This semester’s buyback at Cosmic Connections happens on Dec. 9-12 and 14-17, from 8am to 6pm. After buyback season, we’re always buying online at http://bookfool.com/sell
Thank you for including us in the discussion, Erin.
The Spot Restaurant in Cleveland TN
Our buyback location in Cleveland, Tennessee is The Spot Restaurant, home of incredible burgers, homemade shakes and frostys, chili, hot dogs, coffee, and more!
I had the burger, which was hot off the grill and hit the … well … spot. I haven’t had a shake yet, but I hear they’re good enough to make you want to move to Cleveland so you can have ‘em every day.
The Spot buyback serves students from Lee University, Cleveland State Community College, and other area campuses. See the details on our LOCATIONS page.
Here are a few pics from my visit. If you haven’t been to The Spot, what are you waiting for?! They also now serve breakfast.
I stitched this together myself! Can you tell? 
Buying a few books
Come by for a second opinion on your used textbooks!
The Spot crew, from their website: spotrestaurant.com
The Fool’s Guide to Dormology
Introduction to Dormology
By: David, Intern to the Stars
Welcome to Dormology 101 with the Fool. In this series of posts, you will learn everything you need to know about dormology. But first things first: What in the wide world of academics is dormology?? Think of it this way:
- Biology: The science of life or living matter in all its forms and phenomena.
- Psychology: The science of the mind or of mental states and processes.
- Sociology: The science or study of the origin, development, organization, and functioning of human society.
- Dormology: The science or study of origin, development, organization, and functioning dorm life in all its forms and phenomena.
- NOTE: Biology and Dormology overlap in that they both deal with lots of spiders.
Recipient of the 2008 "Dormologist of the Year" Medal (cc) Flickr user besighyawn
So there you have it. Through this blog-tacular series, readers will receive a top-of-the-line education in the basics of dormology. Upon graduation, some of you may even move on to become professional dormologists (see: Residence Director, or RD), and will look back fondly on your inaugural education you received from the Fool.
Now, I know what you may be thinking: Why should I believe that this PhD-less guy is an expert in dormology? What am I doing learning dormology from some quack with no credentials whatsoever? Please, let me set your mind at ease.
First of all, I am a college student, and there are no better credentials in the world of dormology. Not only this, but being your standard college student, I literally know everything (or at least think I do, and I’m sure that counts for something). Aside from being a college student, it is also important for you to know that I have a vision: to inform, to educate, to mold. Not only will this course in dormology make an expert of you, but–with dedication on your part–you will be molded into the perfect “dorm-user.”
So now that you’ve had your introduction, let me give you a preview of what is to come:
- Chapter 1: The history of the dorm, including its monastic roots.
- Chapter 2: A close look at what it takes to be a roommate.
- Chapter 3: Real-life case studies regarding crazy roommates.
- Chapter 4: Hilarious dorm pranks which, of course, we would never advocate.
- Chapter 5: An in-depth discussion of the dorm bathroom.
- Chapter 6: Some great recipes that have helped dorm-users to survive with only a microwave and a mini-fridge.
- Chapter 7: Dorm décor ideas that will help you turn your prison-cell of a room into a cozy den of man- or womanliness.
Stay tuned, get pumped, you are about to be educated.
Standard 90s dorm room. (cc) Flickr user OctopusHat
Students: Know Your Textbook Rights!
(cc) Flickr user roberthuffstutter
When it comes to selling your textbooks, you have rights. Even when your bookstore has a monopoly in your town, this Bill of Buyback Rights holds true. Print it off and take it with you!
The Bill of Buyback Rights
You have the right to fair treatment.
Your school exists to serve YOU, the student. If they are not treating you fairly at buyback time, they have failed in their main objective.You have the right to use your books for exams…
…and not have to worry about selling them before the bookstore hits their quota and drops their prices. Campus bookstores say to sell early to get the best prices, but your school (of all places) should care for your academic needs by holding the high prices until after your exams. Don’t be pressured to sell a book you need to study.You have the right to something better than wholesale prices.
When your campus bookstore hits their quota for the year (which usually happens on the first day of buyback), they drop to “wholesale prices,” which are insultingly low. You don’t have to take it!You have the right to a second opinion.
This is why BookFool exists and fights against monopolies for you.You have the right to shop around.
Any bookstore that refuses to let you compare prices does not have your best interests at heart.You have the right to think about an offer before accepting it.
If someone tries to pressure you to sell quickly, tell them to back off. You have a right to think about it.You have the right to walk away.
You can do anything with a book you own. You can throw it away, give it away, sell it online, whatever! And you never have to accept an offer that you don’t like.
Don’t get pushed around by textbook monopolies any more. Stand up for your rights!
(cc) Flickr user BL1961
Manager Training Fall 2009
We want to say a big Foolish thanks to our managers who made it out for manager training this Saturday. You are now prepared to free students from the monopolies that pay them so little for their books!
Here are a few shots from the day:
The night before, everything ready for your arrival.
The big screen.
Some of us had to attend live via Satellite.
Trying to get the hang of these signs.
The view from the stairs.
And finally, a short clip from the day:
Big Blue Facelift + An Homage to Whitman
And now, a few photos for this crazy Friday afternoon.
Facelift for Big Blue
Good ole Beauregarde. So loyal. So useful! We finally got around to sticking the giant logo on his back yesterday. What do you think?
Big Blue Logo Facelift
Big Blue Logo Facelift 2
A Little Inspiration to Rally the Troops
Whitman has long been a favorite of the Fool, so of course we would immortalize him in this 15-foot-high homage:
(Thanks to intern David for making this happen and for doing such a great job with it.)
Victims of the Corporate Assassination Squad
[This is the story of what happens when a Monopoly feels threatened by a competitor. They resort to Lies and to what Umair Haque calls Artificial Competition. They send out their goons to assassinate your reputation.]
The Back Story
They think they look like this; (cc) Flickr user flexgraph
Yesterday we published our list of buyback Locations for this semester. Today, predictably as ever, we started getting dozens of hits from a certain part of the South. You see, we have this one competitor there (we’ll call them MegaTextbookCorp5000) who just HATES that we exist. They watch us like hawks. Before us, MegaTextbookCorp5000 had the textbook monopoly on hundreds of campuses.
Now, they will do anything to stay on top. They don’t care who they hurt.
In the early days of BookFool, one of their vice-presidents came to visit us and try to sell us their software for pricing books. We asked what happens if we want to expand into a town where MegaTextbookCorp5000 already sponsors the local bookstore. With a sly grin, vice-president said that we could expand wherever we want, just as long as we didn’t tell anyone that we were using MegaTextbookCorp5000’s software.
When really they're about as threatening as this! (cc) flickr user machoroboraza
They’re not even loyal to their own bookstores! They just want as many books as they can get. And yet they still ask their bookstores to do their dirty work.
Send in the Goons
This week MegaTextbookCorp5000 went looking for a hitman in each town where we’re holding a buyback. They sent their bookstores in those towns a list of lies about us and told them to visit each of our Locations with that list, trying to turn them against us.
Our locations were all told the same thing. That MegaTextbookCorp5000 would pay more rent, would keep the books locally, and more. But guess what? They saw right through it! Chiefly, our locations found it ironic that MegaTextbookCorp5000 suddenly cares a lot about their small business, whereas before BookFool came along, MegaTextbookCorp5000 didn’t even know they existed.
Lies, Lies, Lies
Here are some of the lies they spread, followed by the Foolish Truth:
Lie 1) We hurt the students.
Foolish Truth: If it’s hurting students to give them a second opinion on their used book values, then I guess we’re guilty.
BookFool will make it rain!
Lie 2) We hurt the local economy.
Foolish Truth: Again, if it hurts the local economy to inject thousands of dollars of cash into it every semester … guilty! We also hire workers locally, pay rent to your favorite local shop owners, and help drive more business to them.
Lie 3) MegaTextbookCorp5000 will pay you more in rent if you kick out BookFool.com.
Foolish Truth: Our shop owners told them, “Good luck with that! Will MegaTextbookCorp5000 also bring in hundreds of happy students every semester? Will you advertise my shop to thousands of students for me? And just how long will this relationship last? Until BookFool has moved to another location? No thanks! I’ve made my choice.”
MegaTextbookCorp5000 doesn’t want a relationship. They didn’t even care that our shops existed until we showed an interest in them.
Lie 4) The books they buy don’t even stay in this town.
Foolish Truth: Well, neither do yours! Did you know that 99% of “local” off-campus bookstores have partnered with a wholesaler who takes the books they buy back to their Headquarters (i.e. out of your town) to sell from there?
They act like textbooks are really hard to come by these days. Have they ever heard of the internet? Would you rather buy your book today and pay $120, or have it arrive in two days and spend only $72? I know which option MegaTextbookCorp5000 would prefer!
Lie 5) We’re a HUGE company with locations everywhere.
Foolish Truth: Actually, there are five of us. Well, nine if you count the babies. We are buying back at over 20 locations this semester, but we come by that growth honestly. By keeping our own costs low and selling back online, we’re able to pass those savings along to you in the form of more money for your used books.
Why so scared?
Why are they so scared of us? Don’t they know the sure-fire trick to beat us every time? It’s not silly shenanigans. It’s simple: GIVE BETTER PRICES!
It's a textbook revolution! (cc) flickr user seven_resist
MegaTextbookCorp5000 is scared because they know they can’t give better prices. They’ve built a giant network of wholesalers and middlemen who all get a cut of your money. They have to pay rent on all those stores. And they don’t understand the internet and how smart technology can lower prices for everybody!
They’re so scared, in fact, that their actions might just be illegal. Defamation. Anti-competitive behavior. It’s artificial competition, and it’s shameful. (Did I mention they once snuck into our warehouse to spy on us? We found them wandering the stacks, taking notes.)
Students Unite!
Students, it’s time to unite against Tyranny and drive out the liars! There’s only one way to overturn a monopoly: Options, choices, and the freedom to choose.
Help us continue to be your second opinion: Tell your friends there’s a new way to buy and sell your books at BookFool.com
Project Management: Cynical Optimism
BookFool is in the process of planning for our upcoming textbook buybacks, which means lots and lots of cooperation and coordination among the Fools. This semester, we appointed a Buyback Traffic Cop (yours truly) whose job is to manage the calendar, make assignments, and update Basecamp and our internal wiki with our progress. It’s project management on steroids.
I was a project/account manager in a past life, so this process brings back memories. Because BookFool is a tight team, I’m not worried about us hitting deadlines. My #1 focus this semester is efficiency and not duplicating effort. An efficient process means we can buy more of your books, which is good for everybody!
(cc) Flickr user Geodog
To me, Project Management is an expression of Cynical Optimism. In theory, project management is inherently optimistic because it assumes you can organize your team to achieve more. But it’s also inherently cynical because you have to be ultra-realistic about setting deadlines, realizing that something always comes up.
For example, if you need to have 150,000 bookmarks printed in time for your manager training, you have to get them to the printer a week before, which means getting 50 PDFs back from the designer a few days before that, which means getting the design brief TO the designer at least a week or two before that, which means compiling the brief before sending to the designer, which means nailing down all details before… (and so on).
When you’ve got a chain of events that complex, the optimist knows it’s possible, but the cynic gets antsy when it’s time to set all those deadlines. The incurable optimist says, “My team is on point. If I need it on Friday, I’ll set the deadline for Friday and all will be well.” The optimist is often disappointed because, as the cynic understands, Something always comes up.
The true cynic says, “Something always comes up. If I need it on Friday, I’ll make it due Wednesday so there’s time for tweaks.” Now, this gradual deadline creep creates problems if you try to do it in secret. People know when something is really due, and if they think you’re padding the deadlines without telling them, they’ll simply readjust the deadlines in their head to accommodate reality.
I prefer the path of Cynical Optimism that gathers the team together and says, “We can do this, guys! However, we know things come up and deadlines need a little room to move, so let’s all decide to set deadlines a few days before we really need things done. But let’s also decide to hit those earlier deadlines because something always comes up.”
Project Management in a big team is one of the hardest things you’ll ever do. However, with a good team and a touch of Cynical Optimism, you’ll have everything running smoothly in no time.
