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Transcript of Asa Candler
> Risk taker
> Seeks opportunities
> Accepts responsibilities Asa Candler Asa Candler is one of the greatest entrepreneurs of the 19th century. An entrepreneur is an ambitious leader who combines land, labor, and capital to create and market new goods or services. They are apart of the American Free Enterprise System because they can start and operate a business with minimal government regulation or interference.
Entrepreneur of: The Background of Coca-Cola Asa Candler began as an entrepreneur in Atlanta, Georgia where he was a pharmacist. He manufactured patent medicines and was very successful. This is where he met John Pemberton. Pemberton invented Coca-Cola and offered it as a headache tonic. After trying it, Candler saw it as an opportunity and bought the patent for $2,300. Before the the end of the 19th century, he became a millionaire and also a legend after his death on March 12, 1929.
The Coca-Cola Company After buying the headache tonic, Candler believed that the product would be a much bigger success if it was marketed in a way other than a "headache tonic." Therefore, he advertised it as a soft drink and from his marketing of this new product Coca-Cola went national and earned him millions of dollars. Later explained why, Candler had to change the name of the product in order to sell it. It became The Coca-Cola Company and soon Candler began to expand the product range, as well as his ventures as an entrepreneur.
Economy At The Time: Around the time of WW1 was when Coca-Cola began. At this time the population was increasing rapidly. The record year for immigrants was 1907 when 1.29 million people enter the United States, mainly from Italy, Austria-Hungary, and Russia. By the end of the decade the U.S population had risen to 91 million. Agriculture, which had employed the majority of American workers, was slowing being replaced by industrial occupations.
The Coca-Cola Company What Struggles Were Faced? The main struggle that was faced in Candler's process was the name of the product. Because he did not own the name "Coca-Cola" he was faced with some challenges. However, by simply adding "the" to "The Coca-Cola Company", he was able to market his product. Progression, Impact, and Usage The Coca-Cola system has more than 900 plants around the world! The ingredients and raw materials are largely sourced locally. Also, their 92,400 employees represent thousands of communities and cultures. The Coca-Cola company not only gave thousands of people jobs, it also donated millions of dollars. More specifically, Candler donated $8 million during his lifetime. Majority of that was made to Emory University to allow the education of many that would otherwise not have been able to go to college. There are many structures named after him in Atlanta today. He made an impact of his hometown as well as the rest of the world. People in nearly 200 countries drink one billion, 8-ounce servings of coca-cola products every day!
By Katie Burns Interesting fact: Coupons were introduced in 1894 when Candler bought the Coca-Cola formula and gave people coupons that he had written out to receive a free glass of coke.