The Changing Book Fair Industry
Most everyone remembers school book fairs. They’ve been around forever.
I wonder, though, if that will change.
The Last Few Months
The book fair industry has been dominated by two companies. Scholastic is the largest player followed by Follett, which entered the arena a few years ago.
So what’s happened recently?
According to a story in the Wall Street Journal, and then carried in various other publications, Dick Robinson, the long time CEO of Scholastic left a surprise in his will after passing away recently.
Scholastic had been controlled by the Robinson family since it’s inception. But Mr. Robinson left all of his stock, which included most of the voting shares, to Iole Lucchese.
Ms. Lucchese had a long time relationship with Mr. Robinson and have risen quickly through the Scholastic ranks.
Mr. Robinson’s will left nothing to his sons or ex-wife. So control no longer rests within the family.
Rumors abound about the legal implications of the will and how the family will respond.
Coupled with the devastation Covid caused the in person book fair industry on top of Mr. Robinson’s surprise leaves Scholastic less nimble than it might have been.
Follett decided to offer a choice to schools used to holding Scholastic book fairs. They felt there was ample opportunity and the market was large enough.
But Covid devasted those plans as well.
Now, though, it was reported that Follett School Solutions has been sold to Francisco Partners. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry.
So there are lots of questions about the future of Follett Book Fairs. Will an investment banking firm specializing in technology want to be involved in an industry as far removed from technology as book fairs.
Only time will tell.
Should a School Still Hold a Book Fair?
That’s a question many schools might have to ask themselves as things unfold.
The industry reports Scholastic won’t serve Title 1 schools or others that can’t guarantee minimum sales.
No one knows what will happen with the Follett sale.
So now may be the time to try www.lovemylibrary.com.
Why?
It is a technology answer to the old fashioned book fair.
It is the only online donation portal designed specifically with the purpose of helping librarians raise money money with far less effort.
It’s also available to every school America regardless of financial means.
But, most importantly, kids can get free books instead of purchasing them.
Love My Library is a game changer in the fast changing book fair universe.
