THE BINGO BUSINESS:
In the early 1930s, Lowe began selling two different versions Of Bingo. For just One Dollar, buyers got 12 different cards, and for Two Dollars, buyers got 24 different cards. The profit the game earned put his toy business on solid ground.
As with any other success, imitators began cropping up. Lowe originally tried to protect his business interest by securing a patent for Bingo but he was unable to get one because the game was already in the public domain. As a result, imitators created their own versions under different names.
Lowe came up with a generous plan to solve this problem, He declared that any competitors who wanted to attach the name 'Bingo' to their versions could do so as long as they paid him a One Dollar annual fee. This ingenious plan allowed people to create their own Bingo games. Additionally, It elevated Lowe's promotional tactics so that Bingo grew rapidly in popularity nationwide.
Bingo's popularity was sky rocketing. By 1934, over 10,000 U.S. locations were conducting weekly games. Lowe's once struggling toy company had more than one thousand employees, along with sixty presses that ran twenty four hours per day. His company went through more newsprint than the New York Times. He also published a Bingo manual used by many charitable organizations, and a newsletter with nearly thirty seven thousand subscribers.
TO BE CONTINUED...
BINGO (Part 4)
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