Competition is brewing on the Corner. And the economics of it could affect the way many students eat.
Tired of paying a cut of their profits to the Corner Meal Plan's service and dealing with fraudulent student accounts, a group of 12 restaurant owners formed the Core Account Meal Plan, an alternative for University students to the Corner Meal Plan that formerly had the monopoly on non-University meal plans.
Not having a middleman "is the basic core of it all," College Inn Restaurant owner George Mastakos said. The College Inn Restaurant is a participating member of the Core Account.
Working out of a building directly across the street from the Corner Meal Plan Office on Elliewood Avenue, the Core Account differs from the Corner Meal Plan in that it is not for profit, it's organizers say. It operates under the same concept, however, with students opening up a debit account to dine at several Corner district locales.
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Unlike the Corner Meal Plan, which is an outside company that makes a profit from its participating restaurants, the Core Account just needs enough money from each of its member restaurants to keep it running.
And as more restaurants join the Core Account, each member will have less to pay to keep it running. Basically, more members mean more restaurants to split the same fixed cost.
The 12 joint owners of the Core Account are Arch's Frozen Yogurt, Baja Bean Co., the Biltmore Grill, Caf
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