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Success Story: Jim McIngvale

Discussion in 'Lessons from Success/Failure' started by Z5 FILMS, Dec 21, 2007.

  1. Z5 FILMS
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    Z5 FILMS Contributor

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    Here's a story about a furniture salesman in my hometown of Houston. Everyone who lives there know's who Jim McInvale is. He's know as "Matress Mack" around Houston and he's been all over TV screaming "Gallery Furniture Really Will Save You Money!" since I was a little kid.

    A few years back he paid some insane amount of money to have a 30 second slot during the Superbowl, and there was also once a NCAA galleryfurniture.com bowl game.

    He started his furniture store back in 1981 from almost nothing. Today, his store does $250 million in annual sales. I read somewhere that it's one of the largest grossing private retail business in the U.S. today. In his store he has a private collection for viewing. He has a Ferrari F40, one of Evis' cars, Princess Diana's jewelry, one of Jeff Gordons winning cars and some other neat items. He also owns some multi million dollar race horses.

    He likes tennis and owns a private club called the Westside Tennis Club. Each year, out of his own pocket, he pays top tennis pros like Andre Agassi to show up and play against each other, like a kid would throw two scorpions in a small cage and go crazy watching them battle against each other. He gets pissed and rants on TV if the top two players don't make it to the finals to play against each other. I guess I would too if I spend millions hoping to see that match, and it does not happen.

    He does a lot of good for the community too.

    Funny thing is, he still works at the store today. He has a desk right there at the front door and is usually standing there. You can walk right up and talk to him. He makes his fortune by getting you to finance furniture at high interest rates. He has EXTREMELY high pressure sales teams. These people make dealing with car salesmen seem like a pleasant experience. You won't get 10 feet inside the door before being approached. Within 30 seconds you are asked for your driver license so they can run a credit report.

    http://www.freeenterpriseland.com/BOOK/MATTRESSMAC.html
     
    S928 likes this.
  2. S928
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    S928 Contributor

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    I'd like to see that.

    Great story.

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  3. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    A very good story showing that hard work precedes success.
     
  4. AndrewG
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    Great story! I really enjoyed reading it. This story shows that when you seem to be inches from failure its the time to put all you've got and go for it! For Jim this really paid off. $200 million from one store, that's simply amazing!
     
  5. dhuang
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    dhuang New Contributor

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    Though I'm a Houston resident, I haven't been to Gallery Furniture! Then again, my computer desk suits me fine, and that's the only piece of furniture I care about right now. :)

    If he really stays behind the desk at the front door, I think I'll have to drop by and we'll try to talk about something other than a finance plan.

    Anyways, thanks for a good read Z5!
     
  6. Z5 FILMS
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    Z5 FILMS Contributor

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    You should visit. Just make sure you know how to say "no", otherwise you will find $7,000 worth of furniture arriving at your house within a few hours.

    I have been there twice. He was there both times. He has a "desk" at the front entrance. It more like a podium. He stands there all day telling customers the deal specials and such over a P.A. system and watching the monitors.

    His salespeople are seriously aggressive and pushy. You have to make a game of it.
     

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