The story of Whole Foods and its founder, John Mackey, is the quintessential entrepreneurship story. According to Wikipedia, John Mackey and Rene Lawson borrowed $45,000 from family and friends in 1978 to open a small natural foods store called SaferWay in Austin, Texas. When the couple were evicted from their apartment for storing food products in it, they decided to live at the store. Because it was zoned for commercial use, there was no shower stall, so they bathed using a water hose attached to their dishwasher. Two years later they brought on partners who owned another grocery store and formed Whole Foods Markets.
As of early 2014 they: employ 80,000 people; provide products to raving fans from 373 stores operated in the US, Canada, and UK; have a $19 billion market capitalization; and in the prior year had sales of nearly $13 billion, profits of over $550 million, and paid taxes of $343 million. Following is a video from Reason TV of John Mackey in which he makes a moral case for capitalism.
As of early 2014 they: employ 80,000 people; provide products to raving fans from 373 stores operated in the US, Canada, and UK; have a $19 billion market capitalization; and in the prior year had sales of nearly $13 billion, profits of over $550 million, and paid taxes of $343 million. Following is a video from Reason TV of John Mackey in which he makes a moral case for capitalism.
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