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Walton relied on volume sales and directly buying goods from the manufacturers.
Following the war Walton purchased the franchise of a Ben Franklin five-and-dime store in Newport, Arkansas.
While in the reserves Walton decided on retail as his career and took his first job with J. C. Penney for $85 per month. Walton received crucial training while working at J. C. Penney, some of it from the company's founder, John Cash Penney, before entering the military full time to serve in World War II.
Sam Walton was born in Oklahoma where his father instilled in him the value of saving money in order to improve conditions later on. Sam's mother instilled in him the values of treating people with respect no matter what their background.
Sam Walton created a franchise of giving people what they deserve, and thats value. Walton was a crazy man with a huge heart and a great mind. He knew that his idea of large quantities of value goods would catch on and make him famouse. The business today is still thriving, still adding value to everyday life.
Since Walton relied heavily on his empliyees early on, he allowd them to profit share. David Dayne Glass, a financial officer whom Walton was trying to hire away from another company, described his first visit to the second Wal-Mart store: It was the worst retail store l had ever seen. Sam had brought a couple of trucks of watermelons in and stacked them on the sidewalk. He had a donkey ride out in the parking lot. It was 115 degrees, and the watermelons began to pop, and the donkey began to do what donkeys do, and it all mixed together and ran all over the place.
Sam Walton 1918-1992
DISCovering Biography. Online ed. Detroit: Gale, 2003.
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