In the supermarket industry, John Catsimatidis observed a significant shift in business strategy during the early 1970s. He realized that merely operating a store was insufficient; to truly establish a successful business, one needed to control the property on which their operations were based. This insight underscored the importance of real estate ownership for long-term stability and profitability.
The deeper meaning behind Catsimatidis's statement lies in the strategic value of owning the land where businesses operate. By controlling the physical space that houses a store or other commercial ventures, business owners gain significant leverage and security. Owning property allows companies to avoid rent increases and offers the freedom to make long-term investments without worrying about being displaced by lease agreements. Moreover, real estate often appreciates in value over time, providing businesses with an additional asset and source of potential revenue.
John Catsimatidis is a prominent American businessman known for his involvement in various industries, including supermarkets, trucking, and real estate development. He founded the Gristedes Foods supermarket chain and has been influential in shaping business strategies within the retail sector through his experiences and insights. His quote reflects a critical aspect of his approach to building sustainable and successful enterprises.
