Chapter
The History of Price Club
51:27 - 1:02:18 (10:51)
Price Club struggled during its early years and faced financial difficulties. However, the introduction of group memberships helped turn the company around and become successful in selling products for office and institutional customers.
Clips
A wholesale business model allows small independent businesses to pool their buying power and shop at a warehouse for various products.
51:27 - 54:11 (02:44)
Summary
A wholesale business model allows small independent businesses to pool their buying power and shop at a warehouse for various products. This can save them money and offer a more convenient shopping experience.
ChapterThe History of Price Club
Episode#107 Sol Price: Retail Revolutionary & Social Innovator
PodcastFounders
After struggling to make a profit, Price Club introduced a group membership program which allowed small businesses and credit unions to save an extra 5%, leading to a significant increase in sales and turning the business around.
54:11 - 1:00:12 (06:00)
Summary
After struggling to make a profit, Price Club introduced a group membership program which allowed small businesses and credit unions to save an extra 5%, leading to a significant increase in sales and turning the business around.
ChapterThe History of Price Club
Episode#107 Sol Price: Retail Revolutionary & Social Innovator
PodcastFounders
Bernard Marcus, co-founder of Home Depot, was encouraged by Saul Price, founder of Price Club, to start his own home improvement business after touring Price Club in 1978.
1:00:12 - 1:00:55 (00:43)
Summary
Bernard Marcus, co-founder of Home Depot, was encouraged by Saul Price, founder of Price Club, to start his own home improvement business after touring Price Club in 1978. This suggestion eventually led to the creation of Home Depot, which went on to become one of the largest home improvement retailers in the world.
ChapterThe History of Price Club
Episode#107 Sol Price: Retail Revolutionary & Social Innovator
PodcastFounders
Marcus and his partner Arthur Blank opened the first Home Depot in Atlanta, Georgia in 1979, blending traditional hardware business with Price Club's warehouse formats and taking inspiration from the warehouse club business.
1:00:55 - 1:02:18 (01:22)
Summary
Marcus and his partner Arthur Blank opened the first Home Depot in Atlanta, Georgia in 1979, blending traditional hardware business with Price Club's warehouse formats and taking inspiration from the warehouse club business.