When was home depot started
Built from Scratch: How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion by Bernie MarcusWas hoping to learn something about business but to be truthful, just listening to them made me think they were lucky (in the right place at the right time). Not that they werent smart about it, they just didnt have a ton of skill in the first place. I made a purchase from Home Depot and put the store to the test. I waited one day after the return date on my receipt to return a product. Under no circumstances would they take it back - odd how the book contradicts this. Perhaps when the founders retired, so did the values of the company?
The History of Home Depot (More Drama than you can fit in a 5 gallon bucket)
The founders of Home Depot originally couldn't pay people to shop in their stores
Home Depot is one of the biggest names in home improvement retail today. Jennifer Wyatt, Home Depot's company historian and archivist, spoke to Business Insider about the early years of the company. Wyatt has worked at Home Depot for over 20 years. Read more : Here's what Costco looked like when it first opened in She said that when Home Depot first opened in , there was "nothing else like it at the time" in the home improvement space. The idea for a one-stop shop for home improvement caught on, Home Depot underwent swift growth, and the company went public in
Sure, it's a practically ubiquitous national home-improvement chain these days. But according to Jennifer Wyatt, Home Depot's company historian and archivist, shoppers didn't know what to make of the retailer at first. Wyatt has worked at Home Depot for over 20 years and even assisted founders Bernie Marcus and Arthur Blank in fact-checking their book "Built from Scratch. Read more: Here's what Home Depot looked like when it first opened in When the first two Home Depot warehouses opened up in Atlanta in , Wyatt said Marcus and Blank decided to lure in customers with a promotional stunt.
In a very personal book, Ken Langone, financier, investor, philanthropist and cofounder of the Home Depot, describes his life. Those accomplishments, impressive as they may be, all pale in comparison to his move to join Bernie Marcus and Arthur Blank in cofounding Home Depot. It was his persuasive personality, backed by single-minded determination and sheer willpower, that convinced Bernie Marcus and Arthur Blank to create the store, hire Pat Farrah and develop a concept that today has no rival, albeit strong competition. It all came together in Atlanta in , when the first two of the original four stores were opened. The high-ceilinged warehouses were 55, to 75, square feet in size, far larger than any home improvement center had ever been.
In , the co-founders of Home Depot planned to start the company with four locations in Atlanta. But when it came time to stock the shelves, they couldn't afford to buy enough merchandise. Give us empty boxes with your labels on,'" Langone says.
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Why Home Depot Failed In China
Home Depot is celebrating its 40th anniversary this year. I wonder how that would have affected its growth? Before I get to the event itself, let me give you a brief description of the Siller Foundation. Stephen Siller was a firefighter in New York City and had gotten off the late shift early in the morning on Sept. Before he made it all the way home to Brooklyn, he heard over his scanner about a plane and a fire at the Twin Towers.
Tireless optimism. These are the traits of our customers. We built The Home Depot for them, to provide them with the products, services and knowledge they need to create the homes of their dreams. Our story, now almost 40 years in the making, is also theirs. Avid DIYers, they envisioned a superstore that would offer a huge variety of merchandise at great prices and with a highly trained staff.
In more than 2, stores across North America, we aspire to excel in service — to our customers, associates, communities and shareholders. That's The Home Depot difference. We live by a simple premise by our founders: Put customers and associates first, and the rest will take care of itself. Our three-legged stool sets a strategic framework that drives lasting customer and shareholder value. The first stores, at around 60, square feet each, were cavernous warehouses that dwarfed the competition and stocked 25, products, much more than the average hardware store at that time. See Our History.