Best Buy Mobile
Best Buy
History Best Buy Inc was founded in 1966 as an audio specialty store called Sound of Music established by Schulze and a partner. They opened their first store in St. Paul, Minnesota as an attempt to capture the car stereo retail market. It opened two additional stores and had an initial yearly income of $173,000. Four years later Schulze bought out his partner and proceeded to expand his retail chain. The company would continue to grow over the next few years, hitting the one million dollar annual revenue in 1970. Soon Schulze realized serving an audience of 15 to 18-year-olds with limited resources could potentially bring a standstill to his growing business. In 1982, his first step was to expand Sound of Music's offerings to include appliances and VCRs and once implemented, he observed the sales triumph to $9.3 million. The following year the company renamed itself Best Buy Co., Inc. and developed an older, broader, and wealthier consumer base offering a wide range of products a discounted pricing. To set Best Buy apart from its competitors, Schulze took sales staff off commission. The company expanded domestically and internationally, and quickly became the world’s leading consumer electronics retailer. The company operates more than 1,400 stores throughout the US and Canada, and another 2,600 stores in Europe and China, mostly under the Best Buy, Best Buy Mobile, and The Car Phone Warehouse banners. Best Buy does not have an official mission statement. The closest thing would be: "Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers and we rely on our employees to solve those puzzles. Thanks for stopping." Best Buy also has five "brand promises"; to tell you all that we know, to show you the latest and greatest, to wow you with an experience that inspires, to never leave you hanging and to make a difference. With operations in four continents, Best Buy is a
History Best Buy Inc was founded in 1966 as an audio specialty store called Sound of Music established by Schulze and a partner. They opened their first store in St. Paul, Minnesota as an attempt to capture the car stereo retail market. It opened two additional stores and had an initial yearly income of $173,000. Four years later Schulze bought out his partner and proceeded to expand his retail chain. The company would continue to grow over the next few years, hitting the one million dollar annual revenue in 1970. Soon Schulze realized serving an audience of 15 to 18-year-olds with limited resources could potentially bring a standstill to his growing business. In 1982, his first step was to expand Sound of Music's offerings to include appliances and VCRs and once implemented, he observed the sales triumph to $9.3 million. The following year the company renamed itself Best Buy Co., Inc. and developed an older, broader, and wealthier consumer base offering a wide range of products a discounted pricing. To set Best Buy apart from its competitors, Schulze took sales staff off commission. The company expanded domestically and internationally, and quickly became the world’s leading consumer electronics retailer. The company operates more than 1,400 stores throughout the US and Canada, and another 2,600 stores in Europe and China, mostly under the Best Buy, Best Buy Mobile, and The Car Phone Warehouse banners. Best Buy does not have an official mission statement. The closest thing would be: "Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers and we rely on our employees to solve those puzzles. Thanks for stopping." Best Buy also has five "brand promises"; to tell you all that we know, to show you the latest and greatest, to wow you with an experience that inspires, to never leave you hanging and to make a difference. With operations in four continents, Best Buy is a