Agencias Way: Success at the right price

From its beginnings, 63 years ago, Agencias Way focused its sales on the internal market, at the provinces. Most of their clients lived in the rural areas of the country. Interest shown by consumers due to their TV ads made it possible for Agencias Way to open a store in the capital city- one that was much different than the ones they had opened before. The new store is located at one of their warehouses, without any special decor. This brings the prices of products down to very competitive levels. It also makes it possible to offer the same good service that has been one of Way's characteristics during the past six decades.

The business was founded in 1933 by Alberto Way in the province called Jutiapa. It started as a store where miscellaneous articles were sold: sewing materials, cloth and clothes, oil, gasoline, and hardware goods. The store grew in the 1950's , first to all locations in Jutiapa and later to the provinces of Jalapa and Santa Rosa. In 1959 the store moved its headquarters to Guatemala City, and from there, it covered the rest of the national territory.

Today, Way has 44 branches around the country. The goal is to open up to 80 branches. This growth has had its ups and downs during these 63 years, nevertheless, in the last five, sales have grown at a 30% rate each year, due to improvements in productivity which enabled the family to open two or three stores per year.

Roberto Way thinks that the success experienced at Agencias Way is a result of being honest, working hard and treating people right. "This is the success formula" he says, "when one has the long term goals well set." He also thinks it isn't possible to make great fortunes from one day to the next: it has taken his family 63 years to achieve it.