Prepared for Sebastian F. | Delivered May 1, 2020
Success During a Recession
To find companies that were successful during a recession.
Groupon, a Chicago-based company, was founded in November 2008, in the middle of the
Great Recession in the US.
Their business model was perfect for the time as it provided customers with
daily deals on
such as hotels, spas, and museums.
's deals also provided numerous non-essential businesses with an inexpensive way to generate new
interest and customers.
Because of their great position, the company was able to expand to
over 35 countries
and generate over $500 million in net profits two years after its inception.
The company also rejected a
$6 billion buyout
from Google in early 2010 because of its strong position in the market.
Panera, a St. Louis-based bakery-cafe, was f
ounded in 1987.
During the Great Recession, while most of the restaurants in the US and Canada saw a decrease in the number of visitors and diminished profits, the Panera's share price
grew by 26%
between 2008 and 2009.
The reason behind that was the aggressive strategy implemented by the company's CEO,
He decided to take advantage of the low cost of rent and real estate to open
in 40 states of the US and Ontario, Canada.
They also put a much bigger emphasis on their
and the promotion of clean and organic food.
4696 assignments | 5.0