Founded in August 1966 by Richard M. Schulze and James Wheeler, the Best Buy Company first opened its gates as Sound of Music, an electronic store specializing in high-fidelity sound systems.
It was later renamed Best Buy Company, Inc. in 1983 when it had operational stores in seven locations and yearly revenue of $10 million. In an attempt to expand beyond its primary client base of 15- to 18-year-old boys, the firm expanded its product offerings to include household appliances and VCRs.
Best Buy's ultimate purpose of improving people's lives through technology can only be attained by combining the firm's vast technical knowledge with a human touch to fulfill the target clients' everyday requirements through online contact, store visits, or at-home service. The company is actively being operated in over 1,000 locations in the USA and Canada, with a diligent workforce of more than 100,000 workers.
Headquartered in Richfield, Minnesota, the firm operates in the United States and Canada, where more than 70% of the population resides within 15 minutes of a Best Buy shop's radius. In Mexico, it operates both physically and online.
Alongside offering consumers a wide range of electronics, computers, appliances, cell phones, video games, and advanced technological solutions, the company is dedicated to environmental protection and natural resource conservation.