In 1964, Joe Jansen bought a 15 by 20 foot Greenville Avenue liquor store named Goo Goo and changed its name to Goody Goody (in order to save the cost of buying a new sign). This month, Goody Goody is celebrating the company’s 50th anniversary at each of its 21 locations throughout Dallas, Houston and Longview. It is the oldest liquor store chain still owned and run by the founder, and has grown to annual revenue of $250 million. In the Dallas market, Goody Goody (including its wholesale business) is the largest liquor store chain.
I have bought a lot of wine at Goody Goody and always regarded them as a great source of bargains. At the same time, I have also found the company idiosyncratic. For example, look at its web site. What a sorry excuse for an e-commerce channel. Or consider the sea change of Dallas (1,3m people), Plano (275,000 people), Lewisville (101,000 people) and Arlington (380,000 people) all going “wet” in the past four years. Why no flurry of new stores? Continue reading