- Establish additional “exclusive” contracts with outside vendors and share in revenues
- Establish food franchises (e.g., Taco Bell, Pizza Hut, Starbucks, etc.)
- Become a franchise training ground for franchise managers and employees
- Contract with industry to provide faculty as consultants
- Offer community library card for a fee
- Offer student meal program with monthly pass
- Produce touring children’s theater for fees for grades K-6
- Receive royalties from internally developed telecourses used by other stations and colleges
- Set up video game centers at the student union and other campus locations
- Sponsor bank credit cards for students, employees, and alumni in return for receiving a percentage of charges
- Build a gas station on campus for student and public use
- Establish a line of college merchandise and appropriate distribution channels or store
- Form a “for profit” corporation as a corporate umbrella for bookstore and cafeteria services
- Install more vending machines
- Open auto-repair garage where people pay for students’ repair services and use for vocational training
- Provide fee-based exhibitions for student art
- Put more shops on campus, including clothing shops and other currently popular chains
- Sell lottery tickets on campus
- Set up coffee and tea kiosks around campus
If you want to understand something, try to change it.
- Kurt Lewin
Identifying opportunities for new revenue is always preferable to cutting costs. Colleges and universities should seek out innovative ways to diversify their revenue sources.
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