The business world is so full of companies and other organizations that in order for a retail chain to really be successful it must be truly unique. The majority of business ventures do not make it through their first two years and many ambitious entrepreneurs have to turn their backs on their dreams of being business owners. However, for people who have a unique business model and a targeted strategy, new stores can open up a whole new world, both for the owners and the consumers alike. Kip Tindell is the CEO of The Container Store, a niche organization that caters to home storage needs. Opened in 1978, The Container Store has taken an individual approach to almost every aspect of its strategic business plan. Bianna Golodryga, ABC News business correspondent and co-anchor of the weekend edition of Good Morning America, recently sat down with Kip Tindell to discuss the success of The Container Store.
Drawing in over $100 million per year from Elfa alone, its popular closet storage system, The Container Store has been highly successful in providing reliable storage solutions to its loyal customers. Bianna Golodryga, in an attempt to unveil the core of The Container Store’s success, asked Kip Tindell about the business model. Surprisingly, Kip Tindell revealed that the number one priority of The Container Store are not the consumers, but the employees. Voted by Fortune as one of the “Best Companies to Work For” for the last 11 years in a row, The Container Store believes that happy employees make for happy customers. Bianna Golodryga questioned Kip Tindell further and discovered the philosophy behind this unconventional business model. When employees are happy to be at work and enjoy their jobs, the consumers will tap into the positive atmosphere of the store and will want to visit time and time again. Instead of training each staff member for only 12 hours, which is common among other retail chains, The Container Store employees receive 240 hours of training. During this time, Bianna Golodryga determined that employees become familiar with the products and learn how to approach consumers in a way that does not make them feel pressured. Kip Tindell quipped that if you take great care of your employees they will take great care of your customers, and so far this philosophy has proved highly successful.
In light of this success, Kip Tindell announced to Bianna Golodryga that The Container Store may be expanding in the near future.