Company Overview Visit costco.com website
Costco Wholesale is a company that sells goods in bulk at cheaper than normal prices, but in order to shop there, you have to be a member.
The company was started in 1983 by James Sinegal and Jeffrey Brotman who opened its first location, which sold only candy and gumballs, in Seattle's Northgate Mall. During the first 3 months after opening, they made about 1 million dollars which is much more than expected because they believed people would not buy things if it cost more than 20 cents! But this proved wrong when on average they made 270,000 per month.
Costco currently has over 700 warehouses worldwide, 500+ of which are located in the US which is about 10% of America's total population.
The company is well known for its employment benefits to employees including a higher than average minimum wage, and health benefits that start after 90 days of employment and 30 vacation hours per year. This makes Costco stand out from other companies.