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Bealls Inc. is a privately owned and family-operated umbrella company which consists of Bealls Stores, Bealls Outlet Stores, and Bunulu. Bealls Inc. It is headquartered in Bradenton, Florida.
The founder, Robert M. Beall was only 22 when he decided to break from his family’s business. In 1915, he opened a dry goods store in Bradentown, Florida which he named The Dollar Limit. He chose this name for his store because everything he used to sell would _cost $1.00 or less._ In the beginning, he had only $2,500 to spend on his stock and he couldn’t afford to buy display tables. So, he used the wooden crates in which his goods arrived as display tables for his items.
In 1920, he had to change the name of his store to Five Dollar Limit due to the increased prices which were caused by the _post-World War I inflation_. In the years followed, the store experienced substantial growth. Therefore, Beall was able to purchase his own property and a much larger store was built. Unfortunately, Five Dollar Limit was lost to the bank because of its accumulated debts during _the Great Depression_. However, R.M. Beall managed to stay as the operator until he purchased his store back from the bank in 1944.
During the 1940s, R.M. Beall’s son also entered the family business after graduating from the _University of Florida_ and completing his military service. In 1946, the name of the store was changed to Beall's Department Store.
In the 1950s, the state of Florida developed rapidly and started to attract middle-income retirees. These people were the company’s future so they knew they had to open new stores. The first expansion was in Bradenton, which was followed by another store in Venice. In 1962, the company reached one million dollars in sales.
During the 1970s, Robert M. Beall, II who is also known simply as Bob, joined the company after earning his MBA at _New York University_ and finishing his military service. After just a decade, Bob Beall assumed the presidency and the company reached $38 million in sales. Bob’s son Matt Beall didn’t spoil the family tradition and marked the fourth generation by joining the business in 2004.
Towards the end of the 1980s, there was a boom in outlet retailing and the company quickly caught the opportunity to start Beall’s Outlet. The first store to be opened outside of Florida was in Arizona. Currently, there are over 450 off-price stores in 17 states under the banners of Beall’s Outlet and Burke’s Outlet.
A century after its birth, there are over 500 stores which surpass a billion dollars in sales annually. All thanks to the founder Robert Beall who ran the original Bealls’ store with passion and dedication until his death.