Businessman. In the early 1940s, Sam "Goody" Gutowitz bought an abandoned stack of phonograph records from the superintendent of his apartment building in the Washington Heights section of Manhattan. He did not realize the potential of his investment until he was offered as much as five dollars for each. Capitalizing on the popularity of the new LP (long-playing) records in the late 1940's, he opened a small store on New York's 9th Avenue. He did some retail sales, although most of his volume was mail-order sales at discount prices. He became adept at promotional offers and the results of each offer were tremendous. In 1951, the Sam Goody name was applied to a chain of record stores, becoming the first successful large-scale LP discounter. While his business grew, dissension developed between Goody's two sons, who were associated with the business. These adverse conditions prompted him to sell the 26-store chain when it was producing 60 million dollars in sales. Ultimately regretting this decision, later attempts were made to capitalize on the Sam Goody name. No serious propositions ever developed for Goody and at the time of his death he had only a modest amount of money to his name.
Businessman. In the early 1940s, Sam "Goody" Gutowitz bought an abandoned stack of phonograph records from the superintendent of his apartment building in the Washington Heights section of Manhattan. He did not realize the potential of his investment until he was offered as much as five dollars for each. Capitalizing on the popularity of the new LP (long-playing) records in the late 1940's, he opened a small store on New York's 9th Avenue. He did some retail sales, although most of his volume was mail-order sales at discount prices. He became adept at promotional offers and the results of each offer were tremendous. In 1951, the Sam Goody name was applied to a chain of record stores, becoming the first successful large-scale LP discounter. While his business grew, dissension developed between Goody's two sons, who were associated with the business. These adverse conditions prompted him to sell the 26-store chain when it was producing 60 million dollars in sales. Ultimately regretting this decision, later attempts were made to capitalize on the Sam Goody name. No serious propositions ever developed for Goody and at the time of his death he had only a modest amount of money to his name.
Bio by: Running Deer
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GOODY
SAM GOODY
BELOVED HUSBAND
DEVOTED FATHER
LOVING GRANDFATHER
GREAT-GRANDFATHER
FEB. 25, 1904 - AUG. 8, 1991
Family Members
Spouse
Children
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