Hobby Lobby, the largest privately-owned arts-and-crafts retailer in the world, is a household name for many. With over 900 stores and more than 43,000 employees, Hobby Lobby has become a go-to destination for many crafters, artists, and home decor enthusiasts. But where did this successful company originate? Let’s delve into the fascinating history of Hobby Lobby.
Hobby Lobby originated in Oklahoma City, Oklahoma, in 1970. It was founded by David and Barbara Green, who initially started by making miniature picture frames out of their home. The first physical Hobby Lobby store was opened in 1972.
The Beginning: A $600 Loan and a Dream
Hobby Lobby was founded by David and Barbara Green in 1970. With a $600 loan, the Greens began making miniature picture frames out of their home. This entrepreneurial venture laid the groundwork for what would eventually become Hobby Lobby.
In 1972, the Greens opened their first 300-square-foot store in Oklahoma City, marking the birth of Hobby Lobby. The store initially focused on picture frames, but over time, the inventory expanded to include a wide range of products.
Expansion and Growth
Hobby Lobby’s growth from its humble beginnings to its current size can be attributed to strategic expansion, product diversification, and a commitment to core values. The company expanded its product offerings to include arts and crafts supplies, home decor, and holiday merchandise.
Hobby Lobby adopted an aggressive expansion model, opening 30 to 40 stores every year and targeting high-income areas. This strategy allowed the company to take advantage of real estate deals and save on operating costs by renting or purchasing real estate previously owned by big-box retailers.
Challenges and Milestones
Like any company, Hobby Lobby has faced its share of challenges and milestones. From legal battles over contraceptive coverage to accusations of smuggling artifacts, the company’s history is marked by both controversy and success. Despite these challenges, Hobby Lobby has continued to grow and expand, attracting customers with its wide selection of products and commitment to its core values.
Influence on the Craft and Home Decor Industry
Hobby Lobby’s influence on the craft and home decor industry is undeniable. The company’s commitment to its customers, unique product offerings, and focus on providing affordable, high-quality items have significantly shaped the industry.
Despite controversies, Hobby Lobby continues to be a leader in the industry, with an estimated revenue of $5 billion in 2018. Offering over 70,000 items ranging from home decor to craft supplies, the company caters to a broad target audience of crafters, artists, and home decor enthusiasts.
Controversy and the Affordable Care Act
One of the most significant controversies surrounding Hobby Lobby is its opposition to the Patient Protection and Affordable Care Act (ACA). The company objected to providing health insurance plans that include birth control coverage, a requirement under the ACA. The U.S. Supreme Court ruled in favor of Hobby Lobby, allowing certain “closely held corporations” to deny birth control coverage to their employees based on the owners’ religious beliefs. This ruling sparked debate about women’s rights and access to basic healthcare.
From its humble beginnings in the home of David and Barbara Green, Hobby Lobby has grown into a global force in the arts-and-crafts industry. Despite the controversies and challenges, the company continues to thrive, offering a wide range of products to its loyal customer base. The origins of Hobby Lobby are a testament to the power of entrepreneurial spirit and the importance of staying true to one’s values.
Frequently Asked Questions
What is the core business of Hobby Lobby?
Hobby Lobby is a retail company that specializes in arts and crafts supplies, home decor, and holiday merchandise.
Who are the founders of Hobby Lobby?
Hobby Lobby was founded by David and Barbara Green in 1970.
Where was the first Hobby Lobby store located?
The first Hobby Lobby store was located in Oklahoma City.
How much was the initial investment to start Hobby Lobby?
The initial investment to start Hobby Lobby was a $600 loan.
What was the major controversy surrounding Hobby Lobby in relation to the Affordable Care Act?
The major controversy surrounding Hobby Lobby in relation to the Affordable Care Act was the company’s opposition to providing health insurance plans that include birth control coverage, a requirement under the Act.
What is the estimated annual revenue of Hobby Lobby?
The estimated annual revenue of Hobby Lobby was $5 billion in 2018.
How many items does Hobby Lobby offer?
Hobby Lobby offers over 70,000 items ranging from home decor to craft supplies.