How Businessman Daryl Katz Became A Billionaire By Acquiring Pharmacy Franchises
The world is full of billionaires who made their fortunes through sheer hard work and a bit of luck. But if you are looking for entrepreneurs who built their business empires through the execution of impressive business moves, then look no further than Canada's 12th richest man Daryl Katz. Learn more about
Rexall deal, go here.
If you don't know who Daryl Katz is or you've never heard of such name, then it's best you know that he's a prominent entrepreneur, investor and Philanthropist in Canada. As of 2015, the business mogul net worth was estimated to be around $4.1 billion, ranking him not only as one of the wealthiest persons in Canada but also in the entire world. He was named as the 534th richest person in the globe
What Makes Daryl Different
You've properly heard of many success stories of business founders starting on zero and going on to amass vast fortunes. Most of these entrepreneurs' success stories are usually tied to groundbreaking ideas that change the world. For examples billionaires like Bill Gates or Mark Zuckerberg pioneered concepts such as software and social networking and went on to be famous moguls. Read more great facts on
, click here.
Daryl Katz road to riches is a bit different; he got rich by executing smart business moves. He first got into the business as a lawyer where he founded his own private practice focusing of franchise law after working briefly in another law firm. Afterwards, Daryl partnered with his dad and bought Medicine Shoppe, a US-based drugstore franchise with over 1000 stores in 1991. He acquired the business for $300, 000, an astronomic figure at the time.
Later, he founded Katz Group to be the holding company for his business interests. In 1996, Daryl acquired a famous but fading pharmacy business called Rexall drug store. At the time, the business had few stores, but the business grew rapidly that by 1998, they had 80 stores in total. From the success of the Rexall franchise, Daryl has gone on to acquire more companies both in Canada and the US. Today, he's worth $4 billion because he took an unconventional path in business. By focusing on acquiring pharmacy franchises in Canada and US, Katz found an opportunity that had not been exploited to the fullest. We all can learn from Daryl, who revived businesses that were on the brink of collapse. While others saw failure, Katz saw an opportunity that mot people were blind to. Please view this site
for further details.