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Ben Franklin’s variety store
- He paid a princely $25,000 to Butler Brothers to franchise a 5,000-square-foot Ben Franklin’s variety store. In this excerpt from Giants of Enterprise: Seven Business Innovators and the Empires They Built, author and HBS professor Richard S. Tedlow depicts the huge success Walton made of his first store—against all odds.
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The history of Walmart, an American discount department store chain, began in 1950 when businessman Sam Walton purchased a store from Luther E. Harrison in Oklahoma City, Oklahoma, and opened Walton's 5 & 10.
The first stores. In 1945, after leaving the military, Walton took over management of his first variety store at the age of 26. With the help of a $20,000 loan from his father-in-law, Leland Robson, plus $5,000 he had saved from his time in the Army, Walton purchased a Ben Franklin variety store in Newport, Arkansas.
Jul 23, 2001 · Sam Walton's first store was a second-rate store in a second-rate town in what no one would have classified as a first-rate state. Millions, literally, of small stores failed during the course of the twentieth century in America.
Nov 17, 2023 · Sam began to plan his first discount store. His own credit was not strong enough to borrow all the money needed, so he also relied on Helen’s credit. They borrowed against their home and everything they owned to launch the first store.
Apr 2, 2014 · Who Was Sam Walton? Sam Walton opened the first Walmart in 1962, after years in the retail management business.
Apr 29, 2024 · Kyle Schmidbauer Fox Business April 29, 2024. Perhaps the best known and most successful big-box store chain in the world, Walmart's 62-year history has been marked by explosive growth fueled by thrifty, innovative business practices. After its first location was opened in 1962 by Sam Walton in Rogers, Arkansas, Walmart seemingly became an ...
1960s. Retail Revolution. Sam Walton's strategy is built on an unshakeable foundation: the lowest prices anytime, anywhere. 1962. On July 2, 1962, Sam Walton opens the first Walmart store in Rogers, Arkansas. 1967. The Walton family owns 24 stores, ringing up $12.7 million in sales.
