College Book Renter Continues to Grow Textbook Rental Market at Triple Digit Rates

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As the cost of secondary education rises, it’s no wonder (CBR) continues to grow at triple digit rates in this down economy.

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CBR demonstrated explosive growth in January 2011, outpacing January 2010 by 700 percent

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Today’s college students include non-traditional students like working mothers and displaced workers in addition to younger students working multiple jobs. Saving money is a priority for these students, and purchasing textbooks can easily cost $1,000 or more per year. Many traditional and non-traditional students are turning to textbook rentals to save hundreds of dollars per year.

As evidence, CBR demonstrated explosive growth in January 2011, outpacing January 2010 by 700 percent. February 2011 outpaced February 2010 by over 435 percent. And this spring semester, CBR experienced a 200% growth over the last fall semester.

CBR earned almost as much revenue in the month of January as it did for the entire year of 2010 and expects that to double this fall semester. “Because college is expensive enough, we’re very proud to be able to save students millions of dollars and provide a service unequaled in the textbook industry,” said College Book Renter CEO Chuck Jones.

“Now that the initial rush of textbook rentals has died down for the spring semester, the company will work to finish the second half of our building expansion, a call center that facilitates customer service and order intake.” Jones said the company’s goal is to double the call center’s 16,000 square feet that was completed in December. This next expansion is slated for completion in April.

About College Book Renter
Founded in early 2009 and funded through seed capital previously provided by private investors and South Eastern Book Company’s equity investment, College Book Renter has grown into one of the largest and most rapidly growing online textbook rental companies. By offering textbook rentals at up to 85% below their purchase price and providing best-in-class customer service, CBR has already helped to make college more affordable by saving students millions of dollars. CBR has already established itself as one of the top three players in the college book rental industry.

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Dave Reeves
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