Imagine a store. A big space with long open shelves loaded with all kinds of goods, and everyone can buy them for a fixed price. That’s what it looks like today. But it could've been a totally different story if it wasn’t for this one man. His name was Frank Winfield Woolworth. He invented the very concept of the general store as we know it today. Actually, this bright idea was just a follow-up to the many struggles he'd faced early on in his career. He managed to build a huge business empire out of five-cent shops… TIMESTAMPS:
The future millionaire milks cows 🐮 0:47
How his main idea came to his head 1:37
Frank tries his hand at commerce 2:42
No pay, just food and a place to sleep 4:09
Why he had a hard time communicating with clients 4:58
His first store opens its doors 6:51 Frank becomes one of the richest men in America 8:21
… and builds a skyscraper 9:32 #success #richpeople #brightside Preview photo credit: Souvenir Statue of Liberty in the shop. New York, NY, USA — December 25, 2018: By MarinaMonroe/Shutterstock.com, https://www.shutterstock.com/image-photo/souvenir-statue-liberty-shop-new-york-1314874631
Animation is created by Bright Side. SUMMARY:
– The future millionaire was born in a small town in New York in 1852. His parents had a farm where he and his little brother, Charles, spent their entire childhood.
– Another thing Frank enjoyed playing was merchants. He liked pretending to bargain with Charles; but not all the salesmen were his role models. – One day Frank told his brother that the time would come when everyone would have a chance to buy not one, but five or more things for 50 cents.
– And when Frank was 16, he dropped out of school to spend all day at the farm. – Frank would finish his work at the farm, then head to Watertown in the evening. He made it his aim to find a job there. – A family friend took him into their shop, and after a month of training, Woolworth was going to his first interview at Augsbury and Moore Dry Goods Store. – Back then, stores were very different from what they are now. Items were hidden behind cabinets and had no price tags, so people had to ask for it.
– This was probably part of why he had a hard time communicating with clients.
– As he grew in confidence and developed new skills, it was only logical for him to earn more. – In 1877, the store found itself having way more unsold goods than it should’ve had. They heard that other businesses tackled this problem by selling them for a fixed low cost. – He liked this thought so much, he started to look for a way to finance such an unusual business.
– The first “Woolworth’s Great Five Cent Store” opened its doors in Utica, New York in February 1879. – He launched the second shop in Lancaster, Pennsylvania in June of that year. In a single day, more than 30% of the supply was sold, earning almost $130! – Frank became one of the richest men in America, but he never forgot where he came from. – Frank Woolworth made sure everyone was able to purchase a quality product at the low cost of five or ten cents.
– As a self-made man, Frank always tried to outdo himself. Before he turned 60, he decided to leave yet another legacy and build… a skyscraper. Music by Epidemic Sound https://www.epidemicsound.com/ Subscribe to Bright Side : https://goo.gl/rQTJZz
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