Opportunity–Wo0lworth’s “Five & Dime” Stores
Many years ago an energetic young man began as a clerk in a hardware store. The store’s inventory included thousands of dollars’ worth of items that were obsolete or seldom called for by customers. The young man was smart enough to know that no thriving business could carry such an inventory and still show a healthy profit. He convinced the reluctant owner to let him set up a table in the middle of the store and try to sell off a few of the oldest items. Every product was priced at ten cents. The sale was a big success and this gave the young clerk an idea. Why not open a store that would sell only nickel and dime items? When he told his boss, he said it would never work, “because you can’t find enough items to sell at a nickel and a dime.” The young man was disappointed, but took this as an opportunity to move ahead on his own and as a result he made a fortune out of the idea. His name was F. W. Woolworth. (Source Unknown).