Lesson 3a – Typical Buybacks
MBS' Top 10 Guidelines & Buyback Highlights
Always remember that your personal goal is to be asked back for the next buy. If you get asked back, then you know you have done your job well!
1. Communicate
Ultimately the MBS Wholesale Representative has the responsibility for
the success of the buy. Make sure to communicate with the Rep and go over
the prebuyback check list.
2. Common Sense
Common sense is the rule for any buyback. Always be safety conscious and aware of your surroundings. Your own safety comes first, then the money, books, and hardware.
3. Think Ahead
Think ahead at all times. Make sure you have enough cartons made up, an ample supply of shipping labels, and cash in the appropriate denominations. Try not to break bundles of cash before needed. Plan ahead for lunch and breaks as there will be times when you cannot leave your station.
4. Examine the Books
Remember, the price on the screen is the most a student can receive for the book(s). Always examine the book before buying, watching for any missing pieces (CDs, cassettes, maps, etc.) and damage (excessive writing, water damage or missing pages) which lowers the amount paid for the book.
5. Sort all Books
You must take great care in sorting all books. Keeping the retail (bookstore) books on one side and the wholesale (MBS) books on the other side of the computer will help you with accuracy. The wholesale books always go in the MBS boxes and the retail books always to the designated bookstore location.
6. Expense Reports
MBS will reimburse you for reasonable expenses incurred while you are traveling to your buyback.
Circle the final amount paid on all receipts including any tips.
Indicate the date and meal on each receipt.
Put the receipts in an envelope in date order.
If you are an Independent Contractor, make sure you have signed an Independent Contractor's Agreement, and include it with the expenses.
MBS will not cover movies or games while at the hotel.
Do not take the prepaid fuel option on rental cars. Return your car with a full tank.
MBS allows 50.5 cents per mile when using personal car.
If you have any questions, call your MBS Representative.
7. Dress Code
Contact your Rep about the dress code but business/smart casual is generally the dress code while conducting buybacks. NO JEANS.
8. Store Personnel
Know your bookstore contacts. Your Rep will provide guidelines about the store's expectations of the buy and of you as a buyer. Remember, you are a guest in their store!
9. Murphy's Law
"If it can happen, it will happen." Be aware of the potential theft of money, cartons, books and hardware. Contact the MBS Rep immediately if any theft or significant problems occur.
10. The 5 Rs of Buyback
1. Resourceful networking. Always be looking for future buyers.
2. Reasonable expectations. Focus on the 4 Ms of buyback: Manpower, Money, Machines and Materials to ensure the buy runs smoothly.
3. Professional reactions. Know what to do if you encounter any problems with the MBS 4 Ms. Communicate with the MBS Rep.
4. Risk management. Make sure all funds for the buyback are secure and you or a trusted person is in charge of disbursement.
5. Ultimate responsibility. The lead buyer and MBS Rep is ultimately responsible for the buyback. Communication is imperative.
The typical buyback transaction lasts under 2 minutes.
It is common for long lines to form. Don’t panic. It is important to the seller, as well as to you, to pay the right price for a quality used book. Take the time needed to do your job well. Don’t rush.
Click here for a Quicktime video clip of a typical transaction. (1.5MB file)
The 5 Step Procedure To Buying Books (discussed in detail later)
1. Appropriate Presentation
2. Scan and Confirm
3. Examining and “Damage Down”
4. Quoting a Price
5. Buying and Sorting