One of the largest companies in the world, Mars Inc.
Even a hundred years after its foundation, it remains a family affair. The portfolio is owned by the grandchildren of legendary entrepreneur Franklin Mars; According to Forbes, each of them is worth more than $11 billion. They strictly adhere to the traditions laid down by the founders of the empire: they do not sell their stakes in the business to outsiders and lead a closed lifestyle.
First steps in business
Franklin Mars was born on September 24, 1883, in the American city of Newport. His family did not live well: his mother made sweets herself and sold them. Little Franklin contracted polio, which made him walk with a cane for the rest of his life, and could not attend school. The boy spent most of his youth in the family kitchen with his mother, who taught him how to cook sweets. This determined his further path: Mars decided how he would earn.
In 1902, Franklin got married, and a couple of years later in Minnesota, he had a son, Forrest, who later continued his father's business. Mars's wife became his business partner: they organized a pastry shop in their own home. Sweets had to be made and delivered without delay since there were no cooling systems - Franklin made chocolates, and his wife sold them.
In 1911 Mars created his own company called Mar-O-Bar. He had already divorced and remarried - in his second marriage, Franklin had a daughter. The sweets sold so well that with the proceeds, the Mars family could open a confectionery factory near Chicago.
Start Mars Inc.
The business of Mars flourished because of the lack of competition, but the Milky Way bar, presented to the public in 1923, became the real sales leader. In hot weather, customers often got dirty when shopping. But a good business idea, pushed by Mars's son Forrest, changed everything.
The Milky Way chocolate bar at 5 cents apiece was very popular with customers and quickly brought Mars a good profit. The company's annual turnover in 1924 was $ 700,000 - fantastic money. Even during the Great Economic Depression of 1929-1939. The company grew rich because every American could afford this sweetness.
In 1926, the company changed its name to Mars Candies but was soon renamed Mars Incorporated again, a name it still bears. Mars soon opened new manufacturing facilities in Chicago. It was here that he came up with another beloved treat in the entire world - Snickers. Franklin passed away in 1934, leaving behind an immense fortune and a lucrative business with an annual turnover of about $30 million.
Forrest Mars' successes
After graduating from Yale University in 1928, Forrest left the United States to establish his own chocolate business in the UK. Despite the difficult relationship with his father, including because of the divorce of his parents, Forrest Mars opened his factory with his parents' money and produced the famous Milky Way there.
True, cheap chocolate bars were not in demand - the taste preferences of the British were too different from the American ones. Then Forrest created his own product called Mars, which later also became legendary. In 1930, the entrepreneur came up with another delicacy - multi-colored M & M's. I deciphered the name of this sweet as Mars & Murrie's - according to the first letters of the surnames of the creator and his companion William Murrie.
Forrest did not adhere to his father's business policy. He was interested not only in sweets but also in other products in demand on the market. This is how Whiskas and Pedigree pet food, as well as Wrigley chewing gum, appeared in the assortment. After the death of his father, Forrest took matters into his own hands, and in 1964 the business executive merged the two companies. Under the leadership of Mars, Jr., the business was confidently going uphill - the scale of production and sales grew.
With great financial success, Forrest preserved traditional values and instill them in the heirs of the family business - representatives of the Mars family rarely appear in public and in the media, preferring to engage in business development. The grandchildren of the famous founder of the company, some of the richest Americans, went to work every day, received a salary and bonuses for being on time. Nowadays, hired managers are mainly in charge of affairs, but, as in the days of Franklin, the confectionery factories strictly monitor the observance of product quality.
Forrest died in 1999 at 95: his dream of world domination in business had already come true. A few years before his death, the entrepreneur handed over the management of affairs to his sons - Forrest Edward Jr. and John. Today, Mars produces such popular product brands: Milky Way, Dove, Mars, Snickers, Twix, Bounty chocolate, Skittles, Rondo, Tunes and M & M's candies, Juicy Fruit, Spearmint and Orbit chewing gums, Pedigree pet food, Royal Canin, Kitekat, Sheba, Cesar and Whiskas, Uncle Ben's and Dolmio products.
Forrest Mars Quotes
“If you make a great product that people want to pay for, you’ll make a profit.”
“It’s chocolate that spoils the teeth of competitors, and Mars products leave dentists out of work.”
“You can change me - just think, the president of the company! But it is not so easy to find a replacement for a talented employee”.