Who’s at the top of Amazon? Meet the CEO.

Over the last decade, Amazon has changed the way that the world shops. The brand’s incredible online success has upset the high street’s control of the retail market and made plenty of noise in the process. But who is the face behind the world’s most successful company?

Who’s the Amazon CEO?

Jeff Bezos is the CEO of Amazon. He founded the company as an online bookstore back in 1994. Back then, his goal was to create an online platform that could compete with US bookstore giants like Barnes and Noble.

Fast-forward 25 years, and Amazon is turning over billions each year. In 2018, the retail company helped itself to $10 billion worth of net profit. Let’s a look at how Jeff Bezos transformed Amazon into an international retail giant.

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The History of Amazon

In 1994, Jeff Bezos founded Amazon in his garage. After four years of only selling books, Amazon ventured into music and video in 1998. Following initial successes, Amazon nearly went bankrupt in 2002 because of overspending. As a result, a significant chunk of the Amazon workforce had to be laid off and distribution centres were closed down.

It wasn’t long before Jeff had won back the hearts and minds of investors. In 2003, Amazon produced profits of $400 million. In 2007, 13 years after he had founded the company, Jeff unveiled the Amazon Kindle. This was a device that he believed had the potential to convert all readers away from books. Though he might not have been entirely successful, over 20 million Kindle units have been sold since release.

In recent years, Amazon has grown to become arguably the most successful company in history. Jeff has achieved his aim to turn Amazon into the marketplace of the world, where virtually anything and everything can be purchased.

Looking towards the future, Amazon shows now signs of faltering. The company may not have been free from criticism, but it has continued to expand year on year. Jeff sees India as the next market for Amazon to enter, where he intends to compete with Chinese mega-retailer Alibaba.

Jeff Bezos’ investment portfolio ranges far beyond just Amazon. He also has a significant interest in space travel, as shown by his ownership of Blue Space – a company that wants to launch commercial space travel. Jeff also owns the Washington Post and popular US supermarket Whole Foods, which specialises in organic and nutritious products.

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What are Jeff Bezos’ qualifications?

Jeff Bezos went to college at Princeton University, where he graduated as a Bachelor of Science in Electrical Engineering and Computer Science. After working for a while at a fintech firm, he entered banking when he was hired by Bankers Trust and later hedge fund D.E. Shaw & Co. It was while he was working at this company that he founded Amazon.

Amazon CEO Divorce

This year, Jeff and his wife MacKenzie announced their plans to divorce. This has had a significant impact on his net worth, which has been damaged by her acquisition of 25 percent of Amazon’s stock. That being said, the implications could have been much heavier if MacKenzie had claimed 50 percent of Jeff’s fortune – which she is fully entitled to do under Washington State law.

Amazon CEO Net Worth

According to Bloomberg, Jeff Bezos is the richest man in modern history. Forbes values him at $162.9 billion, which puts him significantly ahead of the likes of Microsoft CEO Bill Gates, New York investment magnate Warren Buffet and Facebook founder Mark Zuckerburg.

Does Amazon franchise?

Sadly, Amazon does not currently see franchising as a part of its expansion model. This is likely because they want to maintain quality across their operations and reduce any possible inefficiencies.

However, the company is offering Amazon Delivery Service opportunities in locations around the world. More information regarding claiming delivery territories can be found via Amazon’s website.

Other Retail Franchise Opportunities

If you’re interested in alternative franchise opportunities in retail, then there are plenty available on the Point Franchise network.

CeX

CeX is the UK’s leading dealer of second-hand entertainment products. This retail franchise sells hundreds of used games, DVDs, CDs, phones, laptops and other electronic devices every day to its customers.

The majority of CeX’s 350 UK outlets are franchisee owned. The quality of the CeX franchise package has been acknowledged by the BFA (British Franchise Association), which is the leading authority on franchising in the UK.

Now, as gadgets are becoming increasingly short-lived, CeX is reaping the benefits of a demand for cheaper, second-hand devices. Young people, CeX’s target market, are resisting the urge to buy brand new phones and games consoles at expensive prices.

CeX is looking for candidates with previous retail management experience to become franchise partners. In return for a minimum investment of £40,000, CeX will provide:

• Training at a local corporate store
• Intranet guidance
• Stock and pricing support
• Assistance with store branding
• Business services advice

BoConcept

BoConcept was founded in 1952, when two Danish craftsmen wanted to start trading in bespoke furniture. The company has now grown to 250 stores across 60 different countries.

The largest of these was opened earlier this year in Riyadh, Saudi Arabia. This is the mark of a thriving brand that is taking advantage of the opportunities presented by a global market.

If you want to get in on the action, the minimum investment required to become a Bo Concept franchisee is £100,000. In return, this furniture franchise will show you the ropes by assigning you an executive retail advisor that will help you in all aspects of your business. You will also receive full training via the BoConcept University programme and be shown how to effectively utilise the brand’s sales software.

If you are interested in opening your own retail franchise, there are plenty of other companies from a number of different industries looking for new partners on our network.