George Foreman Net Worth:$300 Millions
George Foreman Net Worth was the original barbecue and smoker pioneer. He began his business in 1954 in Hammond, Arkansas and opened the first store in Hammond. He had several restaurants in Arkansas by the mid-fifties and expanded his company to include a retail outlet. By the eighties, he had grown into a multi-million dollar empire with ten outlets and a franchise empire that had grown to over sixty.
The Foreman story has been widely copied but when you think about it, he did not start his business from scratch. He started a franchise of a company that he bought in Arkansas in 1958. His first business was designed to provide a customer service in a grocery and smoke shop and people would come in to order food and smoke and pay cash for their groceries.
In the mid-sixties, he became interested in building a bigger, commercial type of establishment and the franchising deal that were set up with the first store he started called Butter and Smoke. This franchised franchise was later taken over by Wendy’s, which had already established itself as the fast food restaurant empire that we know today.
In the early 1970s, George Foreman Net Worth had worked with an animal rights organization called ASPCA that wanted to help find homes for abused animals. He made a deal with them and the first animal shelter opened in Hammond in 1973.
He later won a brand new commercial truck that he wanted to use as a promotional vehicle for his business. Although the company he bought the truck from claimed that the truck was not brand new, he paid it off because he wanted to show his appreciation to the people who helped him build the business.
In 1978, Foreman started a television advertising campaign called “Crib in the Country” which was a slogan that promoted his company to new people in the country. The concept was to attract people to the country to the people.
He set up franchising agreements with his two main franchisees in exchange for his services as a franchisee and was able to move into the Midwest in 1991. Today, George Foreman Net Worth is one of the largest barbecue and smoker companies in the world.