![]() He opened his first store in North Wilkesboro, North Carolina in 1921.Īfter growing exponentially for 40 years, Lowe’s became a publicly traded company on October 10, 1969, with roughly 400,000 shares being sold at $11.65 per share on the first day of trading. Lowe’s was started by a man named Lucius Smith Lowe. He also served as Executive Vice President of the Home Depot U.S. Ellison has served as Lowe’s president since 2005 and has been a member of the Lowe’s board since 1996. Who Owns Lowe’s?Īs chairman and president, Marvin Ellison is responsible for the overall direction of Lowe’s Company. The company is not subject to the same rules as other retailers, because Lowe’s is not just a normal retail store. When compared to a fast-food chain, you are not going to realize the savings of owning a franchise. The business model is capital intensive, and you need enough cash to build a new store that is going to be expensive. This is why Lowe’s is not a franchise company. The franchisee will have to pay royalties to use the company name, and to cover that, the company will have to take a portion of that franchise’s profits. This way, the small business owners get individual support and products from the company instead of sharing the same with many other business owners. It’s not like a company that is giving you a service. When you do business with someone, you’re hiring their services. If you want to learn more about whether or not Lowe’s is a franchise, or whether or not Lowe’s is part of an investor, or whether or not Lowe’s stores are individual, or kept together through a franchising company, read on! Why Isn’t Lowe’s A Franchise? Lowe’s has headquarters in Chesapeake, Virginia. Also, it has many subsidiaries, among which are Lowe’s Home Centers, AutoZone, Lowe’s Home Improvement and Service Companies, and Lowe’s Paint Stores. It has been in operation since 1946 and is the largest home improvement retailer in the world. The company is a chain of hardware and home improvement stores, headquartered in Shelby, North Carolina. Lowe’s is a privately owned corporation that has franchise stores across the world. There are over 6,000 franchise businesses in the world making a profit every day. Lowe’s are not your typical franchise business. Franchisors usually have a better chance to succeed than independent franchisees.Ī franchisor can help a franchisee succeed by helping them to build up the business.
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