The College of William & Mary

Williamsburg,

Bookstore Market Analysis, Management Advisory Services, And Rfp Development

The College of William & Mary needed to make a decision on the future of its bookstore since the lease on its present facility was coming to an end, as was the management contract for the store. The college engaged the help of B&D and our work included: identifying bookstore trends and the impact of technology; analyzing alternative business models for the best financial return; evaluating alternate locations; assisting with store design; evaluating contracted vs. self-operated models; developing an RFP for management of the facility; and developing contract terms and conditions for both the management agreement and the lease. We were also tasked with reviewing documents pertaining to mission statements, administrative items, budgets, sales, traffic, audits, and planning studies. We reviewed the management agreement, the operating plan, and the staffing structure and compared operations to similarly-structured stores in the collegiate industry. Additionally, we conducted visioning sessions with college representatives along with interviews and focus groups with diverse stakeholders to explore operational issues, gather satisfaction information, and understand perceptions. A preferred bookstore model was also prepared that could achieve the college’s operational and financial goals, and we identified store development, phasing, and financing scenarios that met the college’s timeline and financial parameters.