Chain stores
A chain store, or commonly referred to as a retail chain, is a type of business which has several locations and has management/activities shared between them. They are meant to control a large segment of the market for various goods or services. As of 2020, Subway is one of the biggest retaurant chain with over 42,600 locations.[1]
The Main Purpose of a Chain Store
The basic purpose of a chain store is to have a business that overwhelms the competition with the ability to have lower costs of operating, having a centralized management system, significantly lower costs of advertising, and flexibility of trying out numerous goods/services in different locations to appeal to the market segment. [2]
History of Chain Stores
A brief history
- 1670 - The Hudson’s Bay Company, a fur trading company is created
- 1680 - The Hudson’s Bay Company have a several number of locations in Canada.[3]
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Advantages of Chain Stores
Different Types
A chain of stores could be located in several industries. These include; the music industry, gaming industry, electronics, restaurants, clothing brands, etc.
Footnotes
References
- Hackett, P. (2004), Averting Disaster: The Hudson's Bay Company and Smallpox in Western Canada during the Late Eighteenth and Early Nineteenth Centuries Bulletin of the History of Medicine, vol. 78, no. 3, pp. 575–609.
- Montague, G (1963), Chain Stores in America, 1859-1962
- Subway's publication (2020), Explore Our World. Subway's Corporation
Author: Krzysztof Nagaba-Poniatowski
