UNC is now accepting bids from private companies to manage the Student Stores on the university’s campus.

Interested businesses have until February 18 to submit their proposals to either take over operations of the Student Stores, or run a virtual bookstore with an on-campus component.

Contractors also have the option to also submit proposals to do both.

UNC was approached in the fall by Follett, which runs bookstores on campuses across the state, with a proposal to take over the Student Stores.

Follett proposed to pay UNC a commission of 15 percent for the first $20 million in revenue and 18 percent on all revenue above that. It estimates this will total $3 million annually, which will be given to scholarships.

After receiving Follett’s proposal, the university decided to open the bidding to see if other companies were interested in taking over the Student Stores. On January 11, the university formally released a Request for Proposal, outlining the details of a possible contract between the university and a private contractor.

According to the RFP, UNC wants to improve affordability for UNC students and increase the financial contribution of Student Stores to scholarship programs.

In November, students and employees protested the possibility of privatization, expressing concerns that employees would be fired and the prices of textbooks would rise.

One of the requirements of the proposal is for the company to indicate which of the possible scenario for current employees, out of the three the university laid out. UNC has also added a cap to the prices of all books sold, to make sure companies don’t dramatically increase the price of textbooks.

After receiving proposals, UNC will invite companies to give a presentation. The university is looking to start a contract with a potential company starting in July 2016.

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