Glendale Community College has inked a deal to hand over the management of its student bookstore to a private company.
Under the contract, approved unanimously by trustees at their meeting Monday, Follett Higher Education Group Inc. will pay the college a commission based on a percentage of gross annual sales — 12.4% of revenue up to $4 million, and 13.4% of revenue in excess of $4 million, said Ron Nakasone, vice president of administrative services.
Follett is one of the biggest names in the business, operating more than 900 college bookstores, including 300 at community colleges across the nation, Dean of Student Affairs Paul Schlossman said.
The company has the strength and stability needed to compete in a challenging higher-education market, he added.
“We feel very strongly that Follett has the capacity to offer superior services and more affordable products to our students,” Schlossman said.
The money generated will go directly to the student government organization, Associated Students of Glendale Community College, to help fund its programming, including more than 50 campus clubs.