Is the content so proprietary that the only way you can get a glimpse into the genius of the material is to pay a premium for access to education materials that will, in the end, benefit THE WORLD by making you a more productive member of society and valuable contributor to our nation’s GDP? Why would something as necessary as information to learn have to be so expensive?
Is it because your 100-level psych teacher was one of 200 contributors to the 1000-page textbook and now gets royalties for each unit sold?
Is it the dying campus store model looking for ways to increase their profit margin?
Or…is it some scrooge of a publisher looking to take advantage of a system rigged in their favor – leveraging those “back-door” connections into the university systems and dipping into those FAFSA financial aid packages? (Not to mention the “new editions” that seem to come out every other year because maybe a paragraph or bullet point had to be updated with some sort of new phrasing – but don’t worry, the other 99% of the content is exactly the same).
How much does the campus bookstore, publisher, and author actually make from each book sold? Well, let’s look at this generic example based from an article by or USA News from a book in 2012.
Textbook Price at Bookstore = $289
$65 – Goes to Bookstore for Operating Costs (that would include a small mark-up/profit for each sale)
$70 – Publisher Operating Costs (this includes personnel, printing materials, paper, etc…)
$35 – Author Royalties
$75 – Profit Margin to Publishers
I draw your attention to that last bullet point. A $75 profit to the publisher for each sale of the book represents a 26% profit margin. To put this in perspective, except for a few industries – anything over 10% is considered a “high” profit margin – and these tend to be industries where convenience is a big factor, few competitors in the market place, or a niche market.
Well, it’s time for the college book industry to check out the new kid on campus – #LiberWave. What if you didn’t have to stand in line for hours trying to get your books for the semester and realizing that by the end of the semester, you would have just spent close to $1300 on content that you’ll never be able to use again and the campus bookstore offers to buy the whole lot off of you for a staggering $100 – just to sell it back as “used” and jack up the price?
What if you could cut out the middle man? What if getting access to educational content was more about the freedom and distribution of knowledge instead of using it as profit generating machine.
What if you could simply download an app and find a friend on campus who is trying to offload their textbook after cramming through finals? What if you could cut your text-book costs in HALF (..and hey, when spending $1300 a year on course materials, $600 isn’t too shabby of a savings).
Meet the disruptor that will change the way college textbooks are bought and sold from here on out. LiberWave – The app to buy and sell textbooks and class notes directly to and from your classmates. Cut out the bookstores and get cash, not credits, at the prices yous set. You’re time’s valuable – so spend less, earn More of it standing in line at the book-store
To learn more about this revolutionary approach to getting your education on, check out the LiberWave Facebook.