Nebraska Furniture Mart (NFM) is a home furnishing store in North America that sells furniture, flooring, appliances and electronics. It is the largest of its kind in North America. NFM was founded in 1937 by Belarus-born Rose Blumkin, who was known as Mrs. B., in Omaha, Nebraska, United States. Under the motto "sell cheap and tell the truth," she worked in the business until age 103. In 1983, Mrs. B. sold a majority interest to Berkshire Hathaway on of a handshake deal with Warren Buffett for $60 million. Nebraska Furniture Mart was founded in 1937 by Rose Blumkin in Omaha, Nebraska. Blumkin borrowed the initial $500 investment from her brother while her husband Isadore continued to run their second hand clothing store. At one point early on, the Blumkins had to sell their own home furnishings to pay off a debt. Mrs. B set the Mart apart by selling products cheaper than the other furniture store around. The bigger competitors were able to successfully get the furniture suppliers to stop selling to the Mart because of the prices. Rather than give up and raise prices, Mrs. B went to other suppliers around the country while still underselling her competitors. More information...
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