"High expectations are the key to everything."(Sam Walton)
Samuel Moore Walton was a businessman and entrepreneur. For those who don't recognize the name, think Walmart and Sam's Club. Walton didn't actually make his start with his Walmart Store. He bought into a franchise and store front building by the name of Ben Franklin, a variety store. The franchise was owned by the landlord, the Butler Brothers. Walton took the store's sales from $80K to $225K in just three years. The landlord took notice of this and wanted to reclaim Walton's franchise rights and the store front that was showing to be very lucrative, so the landlords told Walton that they would not be renewing his lease. Basically, he was forcing Walton out. They bought out Walton’s inventory for $50K. Walton took the money, paid off his business loan and had just enough to buy a small business and building, title and all, by the name of Five and Dime. Before Walton purchased the business, the Five and Dime store was doing $72K in annual volume. Walton opened for business with his new store, 'Walton's Five and Dime' and within the first year, sales increased to $105K and $175K by his third year. Within 12 years, Walton had 16 stores across three states. Walton opened his first Wal-Mart in 1962......Wal-Mart Discount City. Walton's biggest challenge was finding American manufacturers that could provide merchandise at foreign manufacturer prices. One of his objectives was to sell American-made products. Walton bought product in bulk to save money and passed the savings on to the customers. By 1985 Walton had 800 Wal-Mart stores. In 2014, Walton's businesses had a Net Worth of $100 billion. High expectations……… the key!
Samuel Moore Walton was a businessman and entrepreneur. For those who don't recognize the name, think Walmart and Sam's Club. Walton didn't actually make his start with his Walmart Store. He bought into a franchise and store front building by the name of Ben Franklin, a variety store. The franchise was owned by the landlord, the Butler Brothers. Walton took the store's sales from $80K to $225K in just three years. The landlord took notice of this and wanted to reclaim Walton's franchise rights and the store front that was showing to be very lucrative, so the landlords told Walton that they would not be renewing his lease. Basically, he was forcing Walton out. They bought out Walton’s inventory for $50K. Walton took the money, paid off his business loan and had just enough to buy a small business and building, title and all, by the name of Five and Dime. Before Walton purchased the business, the Five and Dime store was doing $72K in annual volume. Walton opened for business with his new store, 'Walton's Five and Dime' and within the first year, sales increased to $105K and $175K by his third year. Within 12 years, Walton had 16 stores across three states. Walton opened his first Wal-Mart in 1962......Wal-Mart Discount City. Walton's biggest challenge was finding American manufacturers that could provide merchandise at foreign manufacturer prices. One of his objectives was to sell American-made products. Walton bought product in bulk to save money and passed the savings on to the customers. By 1985 Walton had 800 Wal-Mart stores. In 2014, Walton's businesses had a Net Worth of $100 billion. High expectations……… the key!
