Where did family video get its start?
The interior of a Family Video store in Glenview, Illinois. (Photo: Jamie Kripke for Forbes) The origins of Family Video can be traced to 1946, when Keith's grandfather Clarence, a salesman, started a distribution business, Midstates Appliance & Supply Co., in Springfield, Illinois.
Who is the owner of family video?
Keith Hoogland, owner of Family Video, pictured in 2017. And in the end, there were none. Family Video, a video rental company that outlived Blockbuster by a decade, announced this week that it will close its several hundred locations after 42 years in business. The news marks the end, at long last, of the in-person movie-rental industry.
What is family video doing with its properties?
A spokesperson for Family Video says the company hopes to lease as many of its buildings as possible, and that it could potentially start new businesses on the properties. The company was founded in 1978 by Keith’s father, Charlie.
Is family video going out of business?
Family Video, a video rental company that outlived Blockbuster by a decade, announced this week that it will close its several hundred locations after 42 years in business. The news marks the end, at long last, of the in-person movie-rental industry.
Where did Family Video start?
Springfield, IllinoisThe origins of Family Video can be traced to 1946, when Keith's grandfather Clarence, a salesman, started a distribution business, Midstates Appliance & Supply Co., in Springfield, Illinois.
When was the first Family Video built?
1978Family Video Movie Club Inc.TypePrivateFounded1978Defunct2022HeadquartersGlenview, Illinois, U.S.Number of locations750+ (pre-2021) Online Web-store only (2021-2022)7 more rows
Why did Family Video go out of business?
Family Video is closing all of its remaining stores after foot traffic declines and the lack of new movie releases “pushed us to the end of an era,” President Keith Hoogland said in a statement. The company said on its website that the last day for movie rental was Jan.
Who is Keith Hoogland?
Keith Hoogland, the president and chief executive of the Glenview, Illinois-based Highland Ventures, Ltd., made the announcement on the corporation's website. A September opening is planned for offices in Nashville.
Does Family Video still exist?
Family Video is shutting down all of its 248 video-rental locations across the U.S., with the 42-year-old chain citing the COVID pandemic as the final blow to a business already decimated by the rise of streaming.
How long is Family Video business?
After 44 years in the video rental business, Family Video is shutting down its website and permanently ending all operations.
Does Netflix own Family Video?
Is Family Video real? There are many fictional things about Stranger Things, but Family Video is not one of them! That's right, the video store franchise where Steve and Robin work in the show is a real video store franchise that once operated more than 800 stores nationwide, including many stores located in Indiana!
How many video rental stores are left?
Over 86% of the 15,300 U.S. stores (specializing in video rentals) open in 2007 were reported to have closed by 2017, bringing the total to approximately 2,140 remaining stores.
Are all family videos closing?
Pandemic Forces Family Video, America's Last Video Rental Chain, to Close Its Doors. Facing an already shrinking business, the pandemic proved too great a wound for America's last major video rental chain to survive and on Friday, Family Video will close the last of its 700 stores.
When did family video first open in Indiana?
2006Family Video, founded in 1978, operated more than 500 stores in 20 U.S. states and Canada. The Indiana outlet opened in 2006.
When did Blockbuster close?
2014Blockbuster LLC / Ceased operationsBetween November 6, 2013, and January 12, 2014, all 300 remaining corporate-owned Blockbuster stores in the U.S. were closed and the DVD-by-mail program was shut down. The Blockbuster official website identified 51 franchise locations remaining in operation in the U.S. in 2014.
Are all family videos closing?
Pandemic Forces Family Video, America's Last Video Rental Chain, to Close Its Doors. Facing an already shrinking business, the pandemic proved too great a wound for America's last major video rental chain to survive and on Friday, Family Video will close the last of its 700 stores.
What was the first video made?
Roundhay Garden Scene“Roundhay Garden Scene” was directed in 1888 by Louis Le Prince, a French inventor. Le Prince used a single lens camera and a strip of film (paper back then) to capture an afternoon in his father-in-law's garden; Le Prince's brother is seen playing the accordion.
Does Netflix own Family Video?
Is Family Video real? There are many fictional things about Stranger Things, but Family Video is not one of them! That's right, the video store franchise where Steve and Robin work in the show is a real video store franchise that once operated more than 800 stores nationwide, including many stores located in Indiana!
When did Indiana get Family Video?
2006Family Video, founded in 1978, operated more than 500 stores in 20 U.S. states and Canada. The Indiana outlet opened in 2006. And another Indiana business, Re-Connected, a computer and cellphone repair business at 556 Philadelphia St., recently announced it too will soon close.
Where is Family Video located?
Operating from an unassuming two-story office building in Glenview, Illinois, 20 minutes northwest of Chicago, Family Video rents DVDs to loyal customers enamored with its traditional, small-town feel. Last year the company pulled in an estimated $400 million in revenue, more than 10% of which fell to the bottom line. Started by his father in 1978, the chain has grown dramatically under Hoogland's watch, and he holds roughly a 70% stake, with the rest split among family members. Revenue has flattened and even fallen slightly in recent years, but the decades of growth have afforded Hoogland a remarkable lifestyle: two corporate planes, multiple luxury properties and an estimated net worth north of $400 million. Sitting at his office desk, he proudly displays photos of a vast, ten-bedroom compound he recently commissioned in Turks and Caicos, alongside what he calls the "No. 1 beach in the world."
How many locations does Family Video have?
In fact, the business is "doing gangbusters," says its owner, Keith Hoogland, who has grown Family Video into a sprawling chain of 759 locations spread across 19 states and Canada, with a concentration in the Midwest and rural America and with more grand openings on the way. "I'm 57 years old," says Hoogland, "and this is ...
How old is the average family video customer?
That advantage has helped Family Video attract business outside of broadband deserts and beyond aging loyal customers. Its typical patron is 35 to 45 years old, but Hoogland believes younger customers are coming in greater numbers. The chain's average store still pulls in roughly half a million dollars in annual revenue.
Does Keith's family video expire?
Keith acknowledges that his movie rental empire won't last forever, but he sees Family Video as an easy way to expand his real estate portfolio, which has no obvious expiration date. The formula is simple: Open a store, use rental sales to pay off the mortgage and hold on to the property. "In five years we'll still be here," he says, grinning. "We're going to hang on for quite a while."
Who is Keith's father?
Seven years later, Keith's father, Charlie, took over. In the 1970s the company started getting squeezed: Its core customers, mom-and-pop appliance shops, were going out of business, and its main suppliers were forgoing distributors in favor of direct sales.
Is Family Video a gathering place?
One result is that Family Video outlets have become gathering places in many smaller towns. "If you walked in on a Friday or Saturday night, you'd be amazed at how busy our stores are," Hoogland says. "People like the experience. It's kind of like a local coffee shop."
Who is Ken Haddad?
Ken Haddad is the digital special projects manager for WDIV / ClickOnDetroit.com. He also authors the Morning Report Newsletter and various other newsletters. He's been with WDIV since 2013.
Does Family Video sell CBD?
Recently, some Family Video stores even started selling CBD products.
Is Family Video closing?
It’s the end of an era: Longtime video rental chain Family Video is closing up shop.
Does Family Video own Blockbuster?
They owned their movies: Blockbuster and other chains had revenue sharing models with movie studios for rentals. It was less expensive up-front and allowed them to carry more copies of movies. Family Video, on the other hand, buys its movies outright -- so they keep all of the profit.
Why is Family Video open?
Family Video's ability to stay open is due in part to the company owning its buildings instead of leasing. As the video rental business shrunk, they weren't stuck with high rent costs and could adjust the size of the store to meet demand. The installation of pizza places in adjacent spaces both helped cover costs for Family Video and gave customers a chance to get a movie and dinner delivered to their door.
Is Family Video still renting movies?
Family Video stopped renting movies in January and has since been working on selling off their inventory. In the wake of the closure, Hoogland's gotten to see how much the company meant to the communities it served. Thousands of people begged the video rental chain to stay open and employees who haven't worked for the company in 15 years have called to say how much they loved working at Family Video.
Is Family Video closing?
Facing an already shrinking business, the pandemic proved too great a wound for America's last major video rental chain to survive and on Friday, Family Video will close the last of its 700 stores. The end of an era, it comes at a hauntingly appropriate time.
What is the best tool to make a family video?
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What can you add to a family video?
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