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The Biography Summary of Richard Warren Sears

October 17, 2019 271 views

Richard Warren Sears – Short Biography

Sears Roebuck and Company would not have been as successful as it is today if not for the endorsing talent of Richard Sears.

Sears came from a relatively wealthy family but their wealth was lost in a stock farm endeavor gone wrong. Sears then had two choices – to sit idly and do nothing or to work for a living.

Being a responsible member of their family, he chose the latter option. In 1886, a delivery of gold-filled pocket watches changed Sears’s life for the better; what Richard Sears did not know was how better his life would eventually turn out to be.

Richard Sears – How He Utilized Rejected Watches

Richard Sears worked for the Minneapolis and St. Louis Railway as a station agent. It was at that time that he familiarized himself with the shipping trade not knowing that this stock knowledge will help land him his good fortune. When a retailer of watches in Minnesota refused the delivery, Sears immediately took the opportunity and made a consignment agreement with the watch manufacturer.

Sears and the manufacturer agreed on a specific price for each watch that Sears will sell and Sears could mark up the price, with the markup price being Sears’s sole profit.

As watches were like a symbol of the status quo and not commonplace in the late 1800s, it was a breeze for Sears to sell the rejected watches.

Within months, Sears found himself making more and more profit, and being the opportunity grabber that he was, he established the R.W. Sears Watch Company.

With the expansion of the business, he needed an able watch repairer for his company and so he hired Alvah Curtis Roebuck, who subsequently became Sears co-proprietor of the Sears Roebuck and Company. Julius Rosenwald succeeded Roebuck after a few years as Sears’s business partner.

The Richard Sears Quick Bio:

Name: Richard Warren Sears

Birthdate: October 28, 1955

Birthplace: Stewartville, Minnesota

Company: Sears Roebuck, and Company

Industry: Retail

Key Success Traits: Opportunity grabber and promotional genius.

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