Bin Ends Wine : Why Didn't I Think of That? ®

Bin Ends Wine

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Hall of Fame Spotlight: Spray Paint

Nobody thought about putting paint in an aerosol can until Ed Seymour. In 1949, Seymour was looking for a novel way to demonstrate a new aluminum paint. His wife suggested putting it in an aerosol can, like ones recently introduced for insecticides. To his surprise, the sprayer — not the paint — became the star of his demonstration.


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Hall of Fame Spotlight: Dole Pineapple

While in Hawaii in the 1800′s, James Dole discovered a fruit most people had never seen or heard of before: The pineapple. He began importing the fruit to the mainland and introduced the country to this exotic, sweet treat. The pineapple became a national favorite, and the Dole Food Company became the largest supplier of fruits and vegetables in the world.


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TOMS Shoes

He started his first business in college. He sold his second business to Clear Channel. He came within four minutes of winning CBS’s the Amazing Race. He’s led an interesting life, but what Blake Mycoskie is best known for is starting TOMS Shoes, the company that has donated well over a million shoes to needy men, women, and children.


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Hall of Fame Spotlight: Gatorade

Today it’s as synonymous with sports as cheerleaders or sweatbands. But not too long ago, Gatorade was just a nameless concoction, cooked up to revitalize the University of Florida’s football team: the Gators. The Gators were losing. A lot. One reason for that was the hot Florida weather dehydrating the players. The “Gator-Aid” not only saved the team, but it has been hydrating and refreshing some of the world’s greatest athletes ever since.

Today’s Hall of Fame Spotlight: The Story of Gatorade.

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What they do:
Purchase “bin end” wines from importers and wholesalers and sell the wines on line at progressive prices.

Inspiration:
Craig Drollett and John Hafferty, who loved wine, decided to join forces and open a discount fine-wine store.

About the business:
Bin Ends Wine buys bin ends at discount prices from importers and wholesalers. The wines sell initially at 25% off retail price, but markdowns are progressive. By the time the wine's been in the bin for six weeks, it's marked down 45%. In their first year, Bin Ends recorded 1.5 million dollars in sales.

Axioms:

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