Starting the Business: Asa Candler Pops His Way to the Top
Starting the Business: Asa Candler Pops His Way to the Top
Candler’s first products were a range of perfumes as well as a ‘blood balm,’ which he sold at his drugstore. The success of this venture was such that he bought out his partner’s share. In just over ten years, Candler’s company had become one of the largest drug businesses in all of Atlanta and was earning over $100,000 a year; his own personal net worth had reached $50,000. Candler continued to manufacture and sell various medicines and cosmetics until one day, he was paralyzed by one of his nagging migraines. In fact, it would turn out to be a blessing in disguise.
Candler’s migraine was so bad that he was willing to try whatever it took to get rid of it. He turned to a little known product that had been produced by a fellow Atlanta-based druggist, John Smyth Pemberton. Pemberton had created something called “Coca-Cola,” his own personal fizzy ‘brain tonic’ and headache remedy that combined coca leaves and kola nuts. He had been selling the drink for five cents a glass at his own drugstore. It was created in his back yard in a three-legged fifteen-gallon pot that stood over a fire, and when Candler sampled it, he was immediately hooked.
In what appeared to be a rash decision to onlookers, Candler decided at once to sell his entire stock of drugs, paints, oils, glass, and fancy clothes. He sold off everything he could and raised roughly $50,000. He initially invested $500 into Pemberton’s company, but by the end of 1891, he had managed to gain control over the entire Coca-Cola product for just $2,300. He used the rest of the money to continue manufacturing and marketing the drink.
In 1892, Candler incorporated Coca-Cola in Georgia, with capital stock of $100,000. While the formula for the drink remains one of the business world’s best kept secrets – it is said that only two company executives have access to the SunTrust vault in which it is kept – it is known that Candler tinkered with it after buying it from Pemberton to make it better tasting. He also replaced the tin cans the syrup was stored in with refurbished whiskey barrels.
In Candler’s early days, he focused solely on marketing Coca-Cola as a fountain drink. In 1899, two Tennessee attorneys approached him with the idea of bottling the drink. In a costly mistake, Candler had little interest in the venture and sold them exclusive rights to bottle and sell the drink. Sales soared from 9,000 gallons in 1890 to 370,877 gallons in 1900. The company would later spend much time and effort buying back those rights. By 1916, the company was earning $27 million. Over the years, sales continued to rise and Coca-Cola came to dominate the industry. Candler’s initial $500 investment had paid off.
Outside of the soft drink market, Candler was also a success in banking and real estate, and he also served as mayor of Atlanta from 1916 to 1919. Before passing away from a stroke on March 12, 1929, Candler had become famous for his generous philanthropic donations to such institutions as Emory University and Emory Hospital, as well as 50 acres of his land holdings to establish Candler Park.
Starting the Business Asa Candler Pops His Way to the Top
Like this article? Share it with your friends
In 1877, Candler and one of his former co-workers, Marcellus Hallman, began a partnership and established their own retail drug establishment. At the time, druggists were known for their dubious cure-all potions, which usually had little impact. Over the years, these concoctions became more popular for their sweet taste than their medicinal effects and pharmacies became the place to go to enjoy a casual drink.
Candler’s first products were a range of perfumes as well as a ‘blood balm,’ which he sold at his drugstore. The success of this venture was such that he bought out his partner’s share. In just over ten years, Candler’s company had become one of the largest drug businesses in all of Atlanta and was earning over $100,000 a year; his own personal net worth had reached $50,000. Candler continued to manufacture and sell various medicines and cosmetics until one day, he was paralyzed by one of his nagging migraines. In fact, it would turn out to be a blessing in disguise.
Candler’s migraine was so bad that he was willing to try whatever it took to get rid of it. He turned to a little known product that had been produced by a fellow Atlanta-based druggist, John Smyth Pemberton. Pemberton had created something called “Coca-Cola,” his own personal fizzy ‘brain tonic’ and headache remedy that combined coca leaves and kola nuts. He had been selling the drink for five cents a glass at his own drugstore. It was created in his back yard in a three-legged fifteen-gallon pot that stood over a fire, and when Candler sampled it, he was immediately hooked.
In what appeared to be a rash decision to onlookers, Candler decided at once to sell his entire stock of drugs, paints, oils, glass, and fancy clothes. He sold off everything he could and raised roughly $50,000. He initially invested $500 into Pemberton’s company, but by the end of 1891, he had managed to gain control over the entire Coca-Cola product for just $2,300. He used the rest of the money to continue manufacturing and marketing the drink.
In 1892, Candler incorporated Coca-Cola in Georgia, with capital stock of $100,000. While the formula for the drink remains one of the business world’s best kept secrets – it is said that only two company executives have access to the SunTrust vault in which it is kept – it is known that Candler tinkered with it after buying it from Pemberton to make it better tasting. He also replaced the tin cans the syrup was stored in with refurbished whiskey barrels.
In Candler’s early days, he focused solely on marketing Coca-Cola as a fountain drink. In 1899, two Tennessee attorneys approached him with the idea of bottling the drink. In a costly mistake, Candler had little interest in the venture and sold them exclusive rights to bottle and sell the drink. Sales soared from 9,000 gallons in 1890 to 370,877 gallons in 1900. The company would later spend much time and effort buying back those rights. By 1916, the company was earning $27 million. Over the years, sales continued to rise and Coca-Cola came to dominate the industry. Candler’s initial $500 investment had paid off.
Outside of the soft drink market, Candler was also a success in banking and real estate, and he also served as mayor of Atlanta from 1916 to 1919. Before passing away from a stroke on March 12, 1929, Candler had become famous for his generous philanthropic donations to such institutions as Emory University and Emory Hospital, as well as 50 acres of his land holdings to establish Candler Park.
Starting the Business Asa Candler Pops His Way to the Top
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
|||
Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | ||
|
||
 |
||
|
||
 | ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
 |
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
 |
 Improve Web Site Conversions Business / Personal Plan Loyalty Strategies Self-Employment Guide Special Report |
|
 | ||
 |
Choose A PR Topic
Press Release Builder | |
 |
Guide To ERP Software
Business Management Software | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
