Chain stores

From CEOpedia | Management online

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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Characteristics of Chain Stores

Different Types

Footnotes

References

Author: Krzysztof Nagaba-Poniatowski