OTHERAPPROVED

Cerritos College Agenda Regular Board Meeting 2026-06-03

Follett to Continue Operating Cerritos College Bookstore

Commission-based: 13.5% of commissionable sales up to $3,000,000; 15.5% over $3,000,000; guaranteed minimum annual commission of at least 90% of prior year or $150,000; $260,000 capital investment for tenant improvementsCerritos CollegeFOLLETT HIGHER EDUCATION GROUP LLCJune 2, 2026

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Description

Cerritos College will negotiate and enter into a new bookstore operating agreement with Follett Higher Education Group, LLC for the Student Services Administration Building, featuring a five-year initial term with two optional two-year extensions. The agreement provides tiered commissions with a guaranteed minimum of at least $150,000 annually and includes a $260,000 capital investment by Follett.

Contract Details

Contract Amount

Vendor

FOLLETT HIGHER EDUCATION GROUP LLC

Agency

Cerritos College, CA

Contract Type

OTHER

Document Date

June 2, 2026

Contract Term

Initial 5-year term with two optional 2-year renewal terms, starting on or around July 27, 2026 and ending on or around July 26, 2031

Renewal Date

2031-07-26

Renewal Info

Agreement includes an initial 5-year term with two optional 2-year renewal terms; existing arrangement had automatic one-year renewals, and the new structure continues optional renewals subject to future approvals.

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