That Time Costco's Founder Said He'd Die Over a Hot Dog (The Real Life Richie Rich) 

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It's rare to hear stories of benevolent businessmen. Well here is a story of a businessman so benevolent he would actually die over the price of a hot dog.
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Starring Karl Smallwood
Featuring Nisha Revill:
Edited by Brad Rawlinson
Original Article:
The Godfather (1972)
Ri¢hie Ri¢h (1994)
Costco, Tony Webster from Minneapolis, Minnesota, United States, CC BY-SA 2.0 creativecommons.org/licenses/by-sa/2.0, via Wikimedia Commons
Stu pendousmat at English Wikipedia, CC BY-SA 3.0 creativecommons.org/licenses/by-sa/3.0, via Wikimedia Commons
James Sinegal, Craig Jelinek, US Department of Labor, Public domain, via Wikimedia Commons
From filmmusic.io
"Two Finger Johnny" by Kevin MacLeod (incompetech.com)
License: CC BY (creativecommons.org/licenses/by/4.0/)


تاریخ انتشار


2021 22 ژانویه





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CSX2586 Rail Rider Raby
CSX2586 Rail Rider Raby پیش 5 روز
Do the math 25cent for the cup and beverage and 50cent for the bun a weenie there still doubling there money I sell a hotdog and a can soda on the 4th of July for $2 I pay retail for every thing and still turn a 55% profit
Anonymous پیش 5 روز
Costco hotdogs are really good.
Connor McMillan
Connor McMillan پیش 7 روز
So I worked for wegmans for 8 years and I gotta say, they are right up there with Costco for a lot of the same reasons and it’s why employees love it and people love to shop there. The one thing that’s different is that Wegmans is still a private company so they do whatever the fuck they want. One of the best examples of us being treated so well i know of is in 2008 during the crash, nobody was fired and all employees still got their 40 cent pay raises every six months they worked there (the Wegmans standard pay table which is now 50 cents every 6 months). That was fucking insane and blasted anyone’s doubts about the company’s honor out of the water
Charles Pletzke
Charles Pletzke پیش 7 روز
But what if someone asks costco if they can would they lower the price
CaptainBIRB14 پیش 7 روز
We love the Costco hotdog
Garg710 پیش 7 روز
IKEA sells massive amounts of hot dogs as well. Tiny ones but their beer is at a decent price
Garg710 پیش 7 روز
Costco wasn't around in 1985. Back the we knew it as The Price Club.
Pickle Rick
Pickle Rick پیش 9 روز
Costco’s loss leader is their rotisserie chicken.
YokaiByte پیش 9 روز
It’s more expensive in Japan. PS: I believe it’s called a loss leader. PSS: I didn’t reach where you say it 😅
_________ پیش 10 روز
Why cant he drive?
Scotty Fang
Scotty Fang پیش 12 روز
"Miles of pizza" sounds like an American measurement
Jay Eccleston
Jay Eccleston پیش 13 روز
I come across the “costco” business model in the restaurant industry constantly. And so many owners just can’t wrap there head around it. Constantly trying to cut costs in staff and raise prices on dishes. It’s so simple, sell more at a smaller per head profit and you will always make money. But the overall cost to produce that dish is a higher percentage and those numbers freak investors out. In the end it balances out when calculating quarterly costs because the overall cost percentage is lower as you sell more, and run a more efficient staff.
Calvin Campbell
Calvin Campbell پیش 13 روز
I can’t help but picture Jim Sinegal saying, “I’ll fucking kill you” with that exact same smile on his face.
Huey پیش 15 روز
my sister thought you were bo burnham
Michael Czerniewski
Michael Czerniewski پیش 16 روز
Fun fact #1: This video came out shortly after the first time I ever set foot in a Costco. A friend of mine (who is blind and can't drive) needed to spend nearly $400 in food stamps, and paid me back in a shitload of pre-made burger patties and chicken breasts. Fun fact #2: Mr. Sinegal of "If you raise the price of the hot dog combo, I will fucking kill you" fame went to the same high school as my father - Central Catholic High School in Pittsburgh.
twitkh پیش 18 روز
Costco works at a loss leader they loose money on the hotdogs but expect people to buy items when they are there. It’s also unlikely that anyone could even buy a hotdog with out having a membership or being with someone who has a membership
twitkh پیش 18 روز
Didn’t finish the video before commenting
Bose-Einstein پیش 18 روز
Costco has the best hotdogs ever. It's so good.
Tristan Bunke
Tristan Bunke پیش 19 روز
Why can't you drive?
Bose-Einstein پیش 18 روز
Not everyone learned. It's not as uncommon as you'd think.
Naked Zebra
Naked Zebra پیش 19 روز
not uncommon for the company to buy out other companies just to keep cost down. look at wranglers
Lordonez 3
Lordonez 3 پیش 20 روز
The hotdogs at Costco where and are my favorite but every time I have them my shit turns into a liquid
garrotjax پیش 21 روز
What a guy 💕
Sparky پیش 21 روز
It's a foot long hot, all beef hot dog. That makes it even more of an incredible value. In America, you don't need to be a member of Costco to get the hot dog/soft drink deal or and the other stuff on the menu (I don't know, if that's true in the UK?). The food stand is set up near, where you enter the building to sign up for membership, so you don't need to show a membership card. like you would if you entered on the shopping side of the cashiers. The menu used to say"Hot Dog or Bratwurst $1.50", but they no longer list the bratwurst. i guess; that was their only compromise.
Fake Bobby Hill
Fake Bobby Hill پیش 22 روز
They have to be making their money by selling uncooked packages of Hot dogs.
Lynsey17 پیش 22 روز
I can't fully place your accent and it is driving me crazy. Can't tell if it is a northern accent or Scottish.
dan lovejoy
dan lovejoy پیش 22 روز
I've probably shared this someplace else on this channel or another, but, I went to Costco one day and was shocked by what I saw, I knew that Jim made it a point to visit each store at least once a year in person, but I didn't expect to see him working the floor like a regular employee!
REPOsPuNKy پیش 23 روز
I work for Costco and the only thing i do is push carts. I am making over $20 an hour. Can confirm that the company is great to work for.
lamelama22 پیش 24 روز
Reminds me of Trader Joe's "2 Buck Chuck", which I think is now "3 Buck Chuck" (don't know, don't shop there), which is a 750 mL bottle of wine for $2 US that is almost as beloved as the Costco hot dog combo (it's their house brand called "Charles Shaw"). I am not a big wine drinker, but according to friends, it is not trash and comparable to most other $10-$15 dollar bottles, and they make every variety. My favorite quote was when they asked the CEO of the company that makes the wine how he could sell wine for basically the same price as a bottle of water he responded with "They're overcharging for the water. Don't you get it?". lol owned that interviewer; plus it's so true. It was also accused of being a loss leader, but apparently both Trader Joe's and Franzia make money on every bottle and quite a lot overall.
Justus Whitmore
Justus Whitmore پیش 24 روز
How do I get that shirt?
Mike G
Mike G پیش 24 روز
google search: Costco jobs near me
Nick Miller
Nick Miller پیش 24 روز
I believe they do sell for profit. A local gas station/convenience store (US) during the height of summer sells hot dogs for $0.25 each, as well as cans of soda for $0.25 each. For the price of the Costco combo you could get 4 hot dogs and 2 drinks.
Franklin Weininger
Franklin Weininger پیش 25 روز
The price is the secret to eternal life
Mark Grant
Mark Grant پیش 26 روز
Hotdog and drink is like less than £1 of wholesale ingredients.
Zoe McCallum
Zoe McCallum پیش 26 روز
I agree with Richie rich, if you are going to start making making cuts, start from the top down, not from the bottom first. Dont destabilise the pyramid from the bottom, when the top has less effect on everyone else
Welcome to Costco, I Love you.
James Crawford
James Crawford پیش 27 روز
I used to work at the Samsung factory in the NE UK, they build microwaves and monitors. Part of the intro they told us they only make £1 per oven profit, but we made like thousand every 20 minutes over 4 production lines.
Amy Jean C
Amy Jean C پیش 28 روز
All my town has in Walmart. It's a 45 minute drive to CostCo, and we try to do as much grocery shopping as we can there. It's really draining going to Walmart constantly...
Koobs پیش 28 روز
I’d argue that if you pay for a Costco membership and DON’T take advantage of the hotdog combo, you’re basically wasting your money.
SeRgEaNt RaNdOm
SeRgEaNt RaNdOm پیش 29 روز
I really want to try a Costco Hotdog now
Cherrykye Waters
Cherrykye Waters پیش ماه
Amber made out with a hotdog
Gordo Gabbles
Gordo Gabbles پیش ماه
When your deal with the devil has a weirdly specific clause about hot dog prices...
Mad Mister
Mad Mister پیش ماه
One time, my brother found 100 quid on the floor in Costco. He told our parents if we could keep it, and they told us to go to the customer help desk. The staff honestly didn’t care and just let us keep the 100 quid. I will respect Costco for the rest of my life for this.
Kayla Kelly
Kayla Kelly پیش 17 روز
If we turn in money we found as an employee, and no one comes back for it. They keep track of who turns what in and give it to us at the end of the year. After my first year there, my manager gave me an envelope and it had 5 dollars in it. I was like what is this? Apparently, several months before I found $5 in the parking lot and turned it in. My supervisor was given and envelope with $37 kind of a cool thing they do.
Nathan Higgins
Nathan Higgins پیش ماه
The day this episode aired you made me and the misses want one of these hotdogs, we hadn't been in over a year and when we do go it's usually to have a look around but no. Not this time. This time we went for the £1.50 hotdogs. I really thought they were more than that!
Yokai Kuma
Yokai Kuma پیش ماه
Favorite channel on youtube
Neutral Tired
Neutral Tired پیش ماه
Do not insult Sinegal's sausage, noted
Buggs پیش ماه
I've never even seen a Costco in England, is it a northern thing?
Buggs پیش ماه
Ya know, like Kestrel(?) lager, that 10.5% stuff that makes Special Brew look like Babycham. I've only ever seen that north of Birmingham.
34lifeishell پیش ماه
Even hear in Australia there hot dogs are $1.50AUD = $1.15USD, It is one of my favorite places to shop because of how cheap there stuff is.
Eli پیش ماه
The Arizona ice teas of hot dogs. I salute you.
Matrix Unravelling
Matrix Unravelling پیش ماه
He initially made a statement that he’ll never raise the hot dog price, so that’s why he feels committed to keep the price as is ...BUT - they DID change the drinks to all diet/non-sugar soda pop🥤choices, obviously to save 💵💰money - and they all taste DISGUSTING!! 🤮 You can taste the nasty chemicals, no matter which fountain 🥤🥤 drink you choose, so now I rarely buy the Costco dog anymore bc of it, which is too bad bc the quality of the dogs are actually still pretty good. 🌭👍 I’d rather they would’ve just raised the price, and kept the drink selection the same!!
Kayla Kelly
Kayla Kelly پیش 17 روز
@Matrix Unravelling They did this in Chicago too, but people protested it so much that they reversed it. We do have a water tax though. You can tax our water, but don't you dare touch our pop.
Matrix Unravelling
Matrix Unravelling پیش 17 روز
@Kayla Kelly , then it sounds like it’s just a Seattle thing perhaps. A couple of years ago, they invented this ridiculous sugar tax here. Diet pop is still reasonably priced, but anything with regular sugar in it has sky rocketed bc of this.
Kayla Kelly
Kayla Kelly پیش 17 روز
Idk which costco you go to, but for the Costcos in my area, that is simply untrue.
MyDadsGoneCrazy پیش ماه
I worked at a Sam's Club as a Cafe Lead for years. They have the same $1.50 hotdog combo deal. In response to your disbelief at how that can possibly be profitable. We used premium Nathan's 100% beef dogs and gave a 32oz drink. The companies cost for each combo sold is .23 cents. The profit is $1.27 per combo or roughly 552% I would assume the margins are pretty similar at Costco. Also to put it into perspective. The cafe at sam's club is used to pay for the staffing costs of the stores whole fresh foods department alone. So bakery, meat, deli, hms, AND cafe. Are all payed for with just the profits of the cafe, it's why they exist in the first place to offset the cost of staffing 180 people in a store by half.
Wiseacres پیش ماه
When he finally passes and they raise the price, this mans ghost will be like: "Look how they massacred my boy!"
Peter Lacenski
Peter Lacenski پیش ماه
Similarly, Kwik Trip in the Midwest has a vertical integration model
Devon Heath
Devon Heath پیش ماه
Im gonna make a guess and say the cost of the hot dogs are covered by membership cost, that's what your really paying for access to those dogs..
Jonathan Harmon
Jonathan Harmon پیش ماه
Costco hotdogs the sirens are singing!!!!
Rufus Stevens
Rufus Stevens پیش ماه
'So the factory owners decided to raise their prices' My brain: got it, costco put them in the hotdogs
contentioushackery پیش ماه
Another great deal at Costco, at least here in the US, is their whole roasted chickens for $5, which is less than what a raw chicken costs. These are all the way in the back of the store with the other ready to eat or ready to bake prepared food, which means if you want to pop in after work for a chicken for dinner you have to walk past everything in the store on the way in and way out which gives you a chance to remember that other thing you need. It may not be a loss leader, but it drives traffic. One advantage of having all that success is that they just get to say "No." to stock analysts that tell them they need to reduce costs. "Overpaying" their employees means they get the best people and they save money by having low employee turnover.
TheJugg پیش ماه
This really makes me want a Costco hotdog...
Dragonten پیش ماه
Costco pizza is the shit
sonic23233 پیش ماه
I didn't know Costco was also in the UK? Because there is a Costco nearby
Todd Willoughby
Todd Willoughby پیش ماه
Those hotdogs are good though.
Thomas Fenton
Thomas Fenton پیش ماه
Mate You look like the actor that plays John on Garfield
General Obi Wan Kenobi
Shareholders are fucking twats.
Canaan پیش ماه
The hot dogs sold at baseball stadiums aren't anything special just like a Bud Light sold at a baseball stadium isn't anything special but it costs more than a 12-pack would at a gas station.
Canaan پیش ماه
$1.50 hotdog and a drink probably made a profit directly in the 80s now it is probably a thing that makes money indirectly by making people prefer to shop there over competing big box stores that don't have cheap hot dogs.
bobwise82 پیش ماه
Weird hot dog fact for Mr. Smallwood: Chicago is noted for our love of all-beef hot dogs adorned with a wide variety of toppings on a steamed poppy seed bun. Therefore, all Home Depot locations in the Chicagoland area have a hot dog stand near the main exit where you can not only get a full Chicago-style dog with all the trimmings, but also a Polish sausage or Italian beef. I've never seen such a concession at any location elsewhere in the country yet I'm always mildly surprised and disappointed when I stop at a non-Chicago Home Depot and discover I can't get lunch there. The 310 million Americans outside the greater Chicagoland area don't know what they're missing out on.
House Sanity
House Sanity پیش ماه
Is there a Costco in sheff ??
Ami پیش ماه
I was well into my 20s before I learned that Cosco is a real place, and not a place made up by American sitcoms/Hollywood
Richard Arriaga
Richard Arriaga پیش 19 ساعت
Costco: I love you 😂
16killjoy پیش ماه
I've never seen a costco in my life.
Amanda Lin
Amanda Lin پیش ماه
Costco was already a family favorite store (asian grandparents loved to buy in bulk) but knowing the extent of its costumer friendly policies, the fact that its boss gives no fucks, and the fact that it treats its employees elevates it even further
Olly Lawrence
Olly Lawrence پیش ماه
Costco is the only place in DC you should fill your tank up at. As the majority of the other gas stations are owned by one person.
Scott Bertram
Scott Bertram پیش ماه
In Canada it's also $1.50
Boney Miles
Boney Miles پیش ماه
Whenever I go back to California I make sure to go to costo food court. Pizza hot dog and biggest for me is the chicken bake, god those all taste great.
Steve Holz
Steve Holz پیش ماه
I wonder if they do some accounting shenanigans where they allocate some of the membership fees towards hot dogs when they calculate whether it's "profitable" or something along those lines. Hey, I'll buy a membership just for the hot dog deal, don't get me wrong!
CourtJester888 پیش ماه
They bought their own chicken farms so they could continue to sell whole rotisserie chickens for $5 as well.
sleepingkirby پیش ماه
As someone that's lived in america for almost 3 decades, yes costco hotdogs are probably the best mass-manufactured hot dogs you can get in the US. And they're better than some hand-made sausages. Honestly, their pizza is really good too.
Wiley Jordan
Wiley Jordan پیش ماه
so costco is basically the opposite of walmart
Hypothisos پیش ماه
I only have a membership to Costco purely for the hotdog deal and the toilet paper.
Tom Bom
Tom Bom پیش ماه
Business wise it makes sense the hotdog is not the main product but it is an incentive to go there, shop and get a nice hotdog while you're at it. But i do doubt the truth about the price argument. Makes for a good story tho.
Jonathan Bahena
Jonathan Bahena پیش ماه
I love Costco
Danielle Digou
Danielle Digou پیش ماه
As an employee I’d just like to mention that they also pay their staff very well, and provide fantastic benefits. It’s hard work, harder than you would think from the outside, because their expectations are very high though it varies by location, but I am paid as a full time clothing merchandising employee in Canada 26$ an hour, with an extra 4$ an hour if I work Sundays, plus if you work in a department that is ‘A’ scale there is another pay bump to be, for example, a cashier or meat cutter. They also fortunately offer disability insurance as the stress working there for an extended period can cause (allegedly) certain mental health damage in the form of anxiety and various other issues. I developed panic attacks and fainting and am on leave at the moment trying to sort myself out and I honestly can’t wait to go back.
2FlareFire پیش ماه
Costco is the worst job I've ever had by far. So much so I refuse to ever shop there even with the free executive membership you get as an employee.
JD Cake
JD Cake پیش ماه
But you need a membership to get in
Liam Patton
Liam Patton پیش ماه
His shirt looks like a capybara fishing.
Michael Edmunds
Michael Edmunds پیش ماه
I need to go check out Costco
Prince Andrew
Prince Andrew پیش ماه
Im an executive member, best place for stocking up on lube.
Gradeius پیش ماه
I dont know If this exists anywhere else but in Puerto Rico Cosco also offers honestly one of the best Burgers I have ever had with a large patty and good quality meat along with a shit load of fries for $5s its a really great deal and the fries are good too I no longer live there and it is honestly one of the things I miss the most from my brief time there.
Nick Pryor
Nick Pryor پیش ماه
Pa has sheetz hotdogs 2 for $.99
Mr. Waffulzzz
Mr. Waffulzzz پیش ماه
Is this not a reupload?
lunarignite پیش ماه
Don't mess with Sinegal's sausage *chef kiss
Jody Pope
Jody Pope پیش ماه
it was $2 here in Canada, originally I miss samples
snowyalice پیش ماه
It's $1.50 in Australia as well. I miss living near a Costco.
ValensBellator پیش ماه
I hope he came up with a good succession plan. It’s so rare for large companies to be able to maintain an admirable culture once they’re publicly traded and feeling the pressure from shareholders... someone will cave eventually.
dirt builder
dirt builder پیش ماه
why cant you drive ´?? just no License ore a bad driver XD
Jon Williams
Jon Williams پیش ماه
the drink cost about 10 cents so as long as the HD is less then 1.40 then they should make money
Tony V
Tony V پیش ماه
Costco is international? I just learned something new today
Liam Katakouzinos
Liam Katakouzinos پیش ماه
I'm so glad Costco came to Australia
Yuriko پیش ماه
don't insult the dog
Donkeyearsa پیش ماه
Costco gas is not always that cheap. It all depends on the area. I found gas real cheap in California but in texas it's not worth driving any farther just to to to Costco to buy gas. Gas at texas Costco gas stations are mostly at market price or a penny or two lower than other gas stations in the area. There have been times where I found Costco did not have the cheapest gas in the area. I gave up my Costco membership years ago as it was costing me more money to go to Costco than just buying stuff at other places.
Kurogiri Games
Kurogiri Games پیش ماه
This has the same energy as what would you do for a Klondike bar
JuggaloJohn پیش ماه
“Welcome to Costco, I love you”
Mitchell LaSalle
Mitchell LaSalle پیش ماه
Too bad they don’t have the chicken bake anymore