Predicting Your Future
Many business people told F. W. Woolworth that he would go “broke” trying to run a store on five and ten cent sales.
Woolworth, however, knew he could do anything within reason and backed by faith. He built a chain of stores offering a wide range of low priced goods for a nickel. Many of these items had never before been sold for so little money.
Following the success of his store in Lancaster he added a new section for ten-cent goods and when this store also flourished he changed the name to Woolworth’s Five-and Ten-Cent Store.
When F. W. Woolworth died in 1919, his personal fortune was estimated to be around $65 Million dollars. There were 1,057 Woolworth stores in the United States and Canada along with 175 stores in England.
CITATION: Woolworth, F. W. – Overview, Personal Life, Career Details, Social and Economic Impact, Chronology: F. W. Woolworth
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