10 Ideas that Earned $100 Million

Most of the people you talk with may surprise you with an idea for a business that can probably make millions. Though it is relatively tough to make an idea work, many of the established businessmen of the day had a simple idea and had a humble beginning. And now they have turned their ideas effectively to success mantras.

You might be well familiar with the winning stories of Bill Gates, Larry Ellison and Mark Zuckerberg who have cashed their ideas. But what it takes exactly to make $100 million? You are going to be stunned!

Michelle Fox of CNBC, here comes with 10 successful biz-people and their simple but innovative ideas that made $100 million or more for them.

#1 Firehouse Subs

Master Brains: Chris and Robinson Sorensen

Originally, both Chris Sorensen and Robin Sorensen were firefighters working in Florida. On their family’s 200 year history of fighting fires, they came up with a different idea of opening up a sandwich shop; and the brothers borrowed on a credit card that belonged to Robin’s in-laws and opened their first shop.

The shop was decorated with fire equipment and a mural painting that depicted the local fire department. They even named their subs “Hook & Ladder” and “Engine Company”, inspired by their firefighter origin.

Though they opened their store, they didn’t want to stop fighting fires. Thus, Robin worked at the shop while Chris continued with firefighting.

From those days, they never turned back. The total turnover of Firehouse Subs owned by the Sorensens is $284.9 million as of 2011.The Firehouse Subs is now an established franchise business, with 514 corporate and franchise locations across the United States; and the company is having plans to expand their business to the Northeast, Central and Southwest in the current year.

#2 Two Men and a Truck

Master Brain: Mary Ellen Sheets

Mary Ellen Sheets before starting the Two Men and a Truck could never even imagine that mere taking away of the waste could be made a multi-million dollar business. In the early 1980s, Sheets’ sons, Jon and Brig Sorber used to do odd jobs for the locality like to haul trash and brush from people’s yard and moving furniture using their truck.

On one occasion, when the two sons were not at home, an order came and the mother had to hire two men and another truck for $350 to accomplish the job. Gradually she made it her hobby and in the late ‘80s she quit her job to offer full-time focus on the new business. And soon after, she decided to franchise her company.

Presently, Two Men and a Truck has 224 branches in 34 states in United States. When Brig Sorber replaced his mom as CEO, Sheets remained in the Board of Directors and Jon Sorber is also serving as an executive.  In the year 2011, the company could conduct 353,761 moves and could have total sales of $220 million.

#3 Life is Good

Master Brains: Bert and John Jacob

Bert Jacob and John Jacob started their business at the streets of Boston and at various colleges along the East Coast in 1989. They designed t-shirts and during the first days of selling they could not make any big bangs till 1994. It was then, they thought of using a cartoon character, “Jake” and the motto “Life is Good” on their t-shirts.

They didn’t do anything great; but this rather simple optimistic message got accepted and it became a hit in a local street fair. A retailer got interested in their product and offered a deal. Since that day, the Life is Good t-shirts fetch new heights.

Now we can find Jake’s face and the motto on many other products as well other than on t-shirts. We see him smiling on products from towels to coffee mugs and the motto has made the life good for the Jacob brothers. Today, their business is booming with 2011 sales closing at about $100 million.

#4 Spanx

Master Brain: Sara Blakely

It was luck that the idea for a new business struck Sara Blakely. One night, she cut off the bottom of her pantyhose, thus, the idea of Spanx was born. With only $5,000 in hand Blakely researched and wrote her patent for footless pantyhose.

Her next challenge was to get mill owners to make her product under her brand massively. She went in search for them along North California and most of them showed their ill hope that the product will never sell. But she couldn’t stop herself, as her hopes were still strong. Finally one mill owner decided to take a chance and helped her turn her “crazy idea” solid.

In 2000, she further made perfections in her product and started hitting up high-end department store buyers. In the first three months of the year recorded with a sale of over 50,000 pairs. And gradually she expanded her business to include a full range of products under the brand name that are now sold across the world. And what more! She landed on the Forbes World’s Billionaires 2012 list, with estimated revenue just under $250 million.

#5 myYearbook

Master Brains: Geoff, Dave and Catherine Cook

It was to the siblings Dave and Catherine Cook, the idea of an online yearbook struck first, that too they wanted it for meeting with their new friends in the high school realm. To make a start they sought the help of their brother, Geoff Cook, who was already a businessman in the college.

Thus, Geoff became the first investor and CEO of myYearbook in 2005 and within nine months the site had 1 million users. When the siblings saw that the company was growing, they expanded their site, connecting people in general. 

Later in November 2011, the social networking site Quepasa bought myYearbook for $100 million in cash and stock and in June the same year it got rebranded as MeetMe. All three siblings are still working at the company, with Geoff Cook as the Chief Operating Officer. By the merger with Quepasa, the number of users grew from the 40 million to 80 million.

#6 Pillow Pets

Master Brain: Jennifer Telfer

As it happens in every household, Jennifer Telfer used to love watching her sons play. One day when she watched her sons smashing down their stuffed soft toys in order to sleep on them like on a pillow, the idea tickled her. She without any second thought decided to start her new business of creating stuffed animals, toys that could be unfolded into luxury pillows.

Later in the year 2003, the Telfer couple decided to wholesale the product themselves through their already existing company, C J Products. During the holiday season, they started to hawk their product at a mall kiosk in order to market the same. They later christened their new business venture as Pillow Pets. By the end of the year 2003, they were nearly sold out, as Jennifer introduced Pillow Pets at a home show. The business of this cute toy-cum-pillow has been flourishing since then. As of 2010 the revenue of the company has reached $300 million.

#7 Tom’s of Maine

Master Brains: Tom and Kate Chappel

In 1968, Tom and Kate Chappel moved to Maine in order to have a more simplified life. There they found it difficult to have natural, unprocessed food and other products. As it is said, ‘necessity is the mother of invention', they decided to create and sell what they were looking for themselves.

They started their new business Tom’s of Maine in 1970, boorowing $5,000; manufacturing and selling from natural shampoo and personal care products to natural food products. Their breakthrough, which was yet to hit, came five years later when they launched their now leading product, Tom’s of Maine toothpaste.

In the year 1999, the sales of Tom’s of Maine surpassed $40 million. In 2006 Colgate Palmolive bought 84 percent of the company stock for $100 million. The Chapels didn't rest tired as they have started recently their new business venture, Rambler’s Way Farm. The new company manufactures wool garments.

#8 Boston Beer Company

Master Brain: Jim Koch

It is better to say, Jim Koch had beer in his blood. His father was a fifth-generation brewer, but Jim left the family business when he found that some of the big names in the brewer business is taking over the market.

Later, he observed that people are starving for something different and he went in search of his roots. He left his job as management consultant, returning to the family business. What he first looked for was the recipe that his great-great grandfather had in his treasure and then he started brewing beer in his kitchen.

Once he perfected his sample brew, he went door to door to Boston bars trying to sell Samuel Adams Boston Beer Larger. Today, Boston Beer Company is the largest craft beer brewer, with over 30 different beer styles.

The highlight of his product is that it still uses all-natural incredients, which Koch himself travels around the world to hand-select, and it employs traditional brewing methods. The company had $513 million in net revenue in the year 2011.

#9 K’NEX

Master Brain: Joel Glickman

In a wedding party, the 50 years old Joel Glickman, sitting at a table, started cutting and connecting a bunch of straws together. Who would imagine that the very moment Joel got an inspiration for a new business? But in fact his creation gave him an idea for a plastic construction toy business (He was already working with his family plastic business).

This idea became an obsession in him, which was criticized by his family in the beginning. But, anyhow, he decided to go on with his idea. He took a huge risk shutting down part of the family’s injection molded plastic business to make the construction toys.

Soon after K’NEX hit the market, in 1993, the founder of Toys R Us said it was the best thing he’d seen in years. Just four years after this the toy business grew just below $100 million. Though retired now, Glickman goes back to business whenever it suffered to make it stronger. 

#10 1-800-FLOWERS.COM

Master Brain: Jim McCann

When Jim McCann bought a flower shop for $10,000 in 1976, he was only a bartender and a social worker looking for a way to increase his income. After buying the flower shop, he could built 13 more shops in the New York metropolitan area.

But it was not until he acquired the 1-800-FLOWERS phone number in 1986 that his business really could bloom. His flower company was the first in the line to add an 800-telephone number in its name and the very simple marketing idea could lead the company to huge profits.

He also found that technology is the only thing that could buy attention in the coming years and he seized on the internet as an opportunity as early as 1991. In 1999, 1-800-FLOWERS went public online with a ‘.COM’ added to its name. The company further got expanded by the acquiring of companies like Popcorn Factory and Fannie May. And as of 2011, the total revenue of the company is reported as $689.8 million.