Life Insurance of the Rich and Famous – Part 4
The Pampered Chef Cooks Up An Empire With Life Insurance
Here is the last of our series, Life Insurance of the Rich and Famous. Whole life insurance is often regarded by Wall Street and so-called Financial Celebrities as a worthless investment. However our series of Rich and Famous people shows how whole life insurance has been a lifesaver for many and has catapulted many struggling entreprenuers into financial superstars. Here is another celebrity that used her whole life policy to build an empire.
Doris Christopher may not be a name that many people recognize but the company she founded, The Pampered Chef is well known by millions.
Doris was a successful home economist and educator. After 8 years of being a stay at home mom she was convinced that women needed quality time-saving cookware and recipes that were designed to make cooking easier and more fun.
Doris wanted to bring her recipes and cookware into every home in America. Her plan was to “enlist” homemakers to perform in-home cooking presentations with her easy recipes and cookware.
With the support of her husband Jay and her two young daughters, she came up a with a detailed business plan and she knew the only thing standing in the way of her dream was money
Drawing on her personal and professional expertise, and determined to make cooking easier and more convenient for families, she started selling high-quality kitchen tools through cooking demonstrations to groups of women in their homes.
In 1980, Doris borrowed $3,000 from her life insurance policy and The Pampered Chef was born in the basement of her suburban home in Chicago.
Doris began to invite her friends over for social events where she introduced them to a new line of kitchen tools, food products and cookbooks aimed at cooking meals in the home fast and simple.
The concept caught on and woman all over the Country began throwing in-home parties and presenting Doris’ recipes and cookware.
Her business grew so quickly that in no time at all, she moved her production out of her basement and into a larger facility.
By 2002, the company had blossomed into a $700 million enterprise. Today, the company she started in her basement, The Pampered Chef, is celebrating its twenty-fifth anniversary and has grown into a corporation (now owned by Berkshire Hathaway) with tens of thousands of independent Kitchen Consultants who present more than a million Kitchen Shows a year, attended by more than 12 million people. And it all began with a dream and a loan from a life insurance policy.
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