hi just quickly I'd really appreciate if you could leave a like on this video
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welcome to entrepreneur news I'm your host the one and only the true Alex Jay
today we're gonna be answering the question why are there so many mattress
stores in America? I know there was a lot of people on reddit asking this question
and why there's so many mattress stores if you've ever been to America you'll
notice that there seems to be mattress stores everywhere but there is actually
a reason behind this and I really do want to dive into it so this story
actually starts someone on reddit said why there's so many mattress stores in
America and what they did was they then posted a picture and I'll show this
picture here and you can see there seems to be a lot of mattress stores in one
place on Tuesday a Reddit comment that suggests mattress firms were laundering
money went viral before being removed reddit users said that the company is
over stored in the US and suggests that this was a sign of something more
dubious going on the mattress firm has responded to Business Insider about the
allegations saying that they're absolutely full I was doing a bit of
research into this because this conspiracy theory just went rampant
everyone was saying you know I've seen loads of mattress stores where I live as
well you know there's like five on the corner and people were talking about you
know there's stores on the opposite sides of the road and they can literally
wave at each other but there's so many of them they can't be that many people
purchasing mattresses so let me go into the side of the conspiracy theory and
then I'll explain the logic behind it in a minute so the conspiracy theorists and
believe me when I first read it I was kind of siding with them for a moment I
thought you know this kind of is weird the whole concept was the fact that
there's so many stores and people don't buy that many mattresses right so a
mattress you typically buy one every 10 years but there seems to be more
mattress stores than Starbucks but obviously Starbucks people buying them
every single day a mattress you know there's some stores that would be empty
and you can't imagine people buying them every day it seems like a
disproportionate amount of supply and demand it just seems like there's so
many so much supply but there's not enough demand for the mattresses and
then obviously there's a lot where they're really close together as you can
see in that picture where you can see this one has loads of mattress stores
I'm all sprinkled around each other so it does seem really weird when you
look at it from that angle it does seem really weird you know people aren't
buying that many mattresses right surely if he doesn't make sense you're not
making it ourselves how are they keeping these doors open how are they
in more stores so then I went and I did some research and this is what I found
out 320 3.1 million people in the US so that's quite a lot of people in America
firstly secondly the average mattress people have them for seven years on
average so every seven years you tend to buy another one okay and so keeping that
in mind there's three hundred and twenty three million people and you tend to buy
a mattress every seven years now I then did a bit more digging and I was like
well how many mattresses were sold last year and I found out that the number of
mattresses sold last year it was thirty-five million nine hundred
thousand so thirty five point nine million so that there's quite a lot of
mattresses sold and how many mattress stores are there or there's actually
nine thousand now that sounds like a lot and that's because it is in comparison
to Starbucks Starbucks only has eight thousand two hundred and twenty two
stores comparing the mattress stores where there's nine thousand so they've
even got more mattress stores than the Starbucks which seems really suspicious
because you know people aren't buying that many right but again remember how
many people there are in America if you actually put the amount of people in
America at three hundred and twenty three million and then divide that by
how many were sold last year I'm up at 0.1 percent it sounds like there's quite
a lot of stores and everything but actually there was only 0.1 percent of
Americans purchased a mattress last year but 35 million being sold and there's
only nine thousand stores clean not a bad ratio because if you sold 35 million
and nine hundred thousand and you divide that by the amount of stores there are
which is nine thousand you actually work out with at three thousand nine hundred
eighty a sales per store which obviously isn't the case there's obviously some
where they're selling way more than others it means that the stores are
actually really profitable and if anything there's not enough of them
which is a kind of ironic thing that I found out through this research is it
seems that that's actually not enough mattress stores which blew my mind so we
can think about because I genuinely thought you know there's too many when
you read this reddit thread it seems like there's too many value there's no
not so then go one step further and there's 600 editing companies in America
and so obviously there's quite a lot of people that are competing in that space
and then the annual sales revenue is one point three eight billion dollars in
America which again is a huge amount of profit so again it comes down to this
900 markup the mattresses also have
mattresses are extremely profitable they mop them are exponentially if you want
to put in comparison to diamonds diamonds are marked up by 200% wet
mattress is a month up by nine hundred percent which is huge which is why
there's been a shift and some companies have started selling mattresses online I
won't name any company names come not being sponsored but there are mattress
companies online where they'll send you a mattress and you get to try it for
like ten months or something and risk-free and you don't like it you can
send it back and they'll send you a replacement but obviously they can
afford to do that because again the markups are absolutely astronomical
again if anything there's not enough of these stores what I thought was really
funny was there's a mattress firm in America that has actually responded to
this and they put this hilarious Twitter thing which is right here and this is
their response they're saying you know looking at our mentions like they're all
confusing why has so many people think that were in money laundering and
there's people like I'll read some of the comments and I'll put the comments
here as well so someone says hey nice try and Mattress Firm aka Illuminati aka
drug front aka Freemasons a kay lizard people okay
Bilderberg Group a K money launderers aka Girl Scouts of America okay secret
government cover-up also you guys hiring and what I loved was the fact that they
actually replied and they were like do you like jumpsuits and then she was like
yeah or khakis like do you like khakis and she's like yeah I love khakis then
there was another one it says it's 100% obvious they're a secret agency firm for
the government they're basically the real men in black and then there's
another persons and I wear on to umf I mean is is hilarious because again if
you look at it mathematically it makes sense i it takes two minutes to give
with this it didn't take me a long time to sit and research this all I did was
find out how many people there were in America I find out how many was sold how
many stores there were and I just did a calculation I was like oh wow
actually it's like the reverse it seems that there's not actually enough so yeah
I completely understand where the theory come from I'd love to hear from you guys
what your opinion is do you think that it could be a money laundering front or
do you you know go with the logic that I've just walked you through and showing
you that it's actually just a really profitable business model something that
I would recommend to people now I've looked at the numbers
I would say hey look if you can open a mattress store maybe you should because
it turns out these things turn profit now not all of them make money don't get
me wrong I was reading I again through my research I found out that there's
some companies that do lose money and with their mattress stores again it
could just be placement and where they are it could be the advertising could be
the location I mean there's so many different reasons that they might not
produce a profit but it doesn't seem that difficult to make profit ok so
here's another thing I found out is that mattresses that cost more than $1000
typically have even bigger markups as high as 1,200 percent or more they then
go on to explain that you know you could they could sell something that costs a
$1,200 but it might only cost them 300 dollars to make so obviously the profit
is absolutely astronomical is huge on these things which again is crazy and
the average markup on coffee is about 80% so again you can see the difference
between the two so so all it seems to come down to is just basic economics
it's just there's a huge demand and there's actually not enough supply
ironically people also like to buy a mattress in real life they don't
typically want to buy a mattress online because if you go into an online website
and you read about a bed you can read the bed and you can say you know the
pictures look great the description is great however I want to feel it right
because it's going to be something that you're gonna be sleeping on every single
night so you want to make sure that it's a good mattress now the only way that
you can do that is actually going and laying on it yourself so that's why
mattress stores don't typically disappear because with most businesses
they can vanish online race if you're gonna buy like a cup or you're gonna buy
a computer or whatever it you don't really need to go in and feel it it
doesn't really make any difference but if you select furniture or a bed is
something that you're gonna want to feel like you can see it looks great but it's
how it feels is the reason that you purchase it so again that could be
another reason as well and that these stores are still doing so well is
because again the demand is really high it's something that you need to feel so
another thing as well is that the people that work inside these stores tend to
get a lot of commission so obviously it's their intention to make sure that
they sell and the mattresses as well they seem to make a lot of the majority
of their money from sales which means obviously they're gonna be trying to
generate as much revenue as they can again meaning that their base the actual
salary might be really small the Commission
be really highest that they need to turn out a few sofas maybe they don't even
need that many I don't know anyone from any sofa company so I can't really tell
you the numbers but I'm guessing it can't really be that many that they need
to sell every month maybe fifteen to thirty a month I I don't really think it
would be that many you also have to think about as when people move when
people move houses when people move cities which happens every single day
otherwise moving companies and you know wouldn't make much money when people
move they tend to get a new mattress when they move how and because they
don't really want to bring it with them unless they're moving back in with their
parents that could be the exception to the rule but typically when you move
into a new house you tend to get a new mattress as well you're like you know
I'll move in and might as well get a new one the same time so just to recap
there's quite a lot of reasons why there are so many mattress stores again it
comes down to how many people are in America how often people buy mattress is
typically every seven years - that fluctuates up and down depending on the
economy when people are moving they're buying mattress is the markup is very
high so that's another reason why there are so many stores they obviously the
staff inside there are typically on Commission so they need to be getting
sales and a regular basis so those are the reasons that is why there are so
many mattress stores in America I hope you enjoyed this video please make sure
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