Posts tagged george foreman grilling machine
About this time last year I attended an Information Marketing seminar and got to meet George Foreman. Everyone knows George as the hard hitting two-time Heavyweight Boxing Champion of the world. However, the George that was there that day was a smiling, friendly faced man that was eager to share his lifelong struggles and victories. See, what many people don't realize is that George Foreman has had the majority of his financial success outside of the ring – as a business entrepreneur. He spoke to us that day about how he turned his name into an empire. According to a Wikipedia article, George Foreman made a lot more money from endorsements over the years than in his boxing career. You can read an excerpt of the Wikipedia article below this absolutely awesome photo!
That's me on the right, My Mom and Dad on the left and of course George (sitting on a chair) in the middle. And yes his fist is almost the size of my head!
"The worldwide popularity of the George Foreman grill has resulted in sales of over 100 million units since it was first launched, a feat that was achieved in a little over 15 years. Although Foreman has never confirmed exactly how much he has earned from the endorsement, what is known is that Salton Inc paid him $137 million in 1999 in order to buy out the right to use his name. Previous to that he was being paid about 40% of the profits on each grill sold (earning him $4.5 million a month in pay outs at its peak) so it is estimated he has made a total of over $200 million from the endorsement, a sum that is substantially more than he earned as a boxer."
The seminar was a great learning experience for me and I guess the main point of this article is that sometimes you have to learn from someone who is further along the path of success than you are. George is estimated to have made over 200 million dollars from endorsement deals and advertising. I would say that's "pretty good." That's all for now.
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