Turn hangers into a huge business

Turn hangers into a huge business

Business Idea:

Making money by turning hangers into a huge business.

Overview:

As a 23-year old, Devon Rifkin was employed in his father's warehouse selling the types

of things that stores use in their own business to help them present their merchandise.  Fixtures, showcases, mannequins, and hangers were among the items that were part of everyday life for the young man.

As many entrepreneurial stories go, Devon noticed a detail that would eventually become a great business idea.  As he tended to customers, the would be entrepreneur started to pay attention to the fact that most customers would buy hangers as part of their regular orders.  The detail was not much by itself, but when coupled with the fact that not a single company owned the lion’s share of the hanger business it gave Rifkin a sense of direction.  His new goal was to become what he called the Hanger King.

As part of his grand plan, Devon used a newly purchased apartment as collateral to start Great American Hanger Co. (www.hangers.com).   He also immersed himself in everything that he could find about hangers, and did a great deal of travel while doing his research.

In just three months sales reached $25,000 and were grew to $500,000 the following 12 months.  Today, the once small start up, has become one of the world's largest sellers of high-quality hangers.  The company's ultimate goal is to reach $100 million ins sales.

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