A High Scoring Business Plan
The owner of a Texas furniture store is using sports to drum up some extra business; and the customers are scoring.
Before the first pitch was thrown for this year's baseball season Jim McIngvale offered to reimburse the first 500 customers who spent more than $6,300 at his stores. But he would only hand over the cash if the Houston Astros won more than 63 games, matching the age McIngvale would turn this year.
And they did, winning 70 games and forcing McIngvale to be true to his word. So recently hundreds of people lined up and he paid up, to the tune of more than $4 million. Reid Ryan, president of the Astros, said the promotion was a great way to get more people involved in the season and excited about the team.
And it's not the first time McIngvale used sports to bring people in. Last year anyone that picked Seattle to win the super bowl picked up $7 million in refunds. Looks like the customer is coming out on top in this game.