Franklin Mars American entrepreneur Date of Birth: 24.09.1883 Country: USA

1. Early Life and Struggles
2. Bankruptcies and Perseverance
3. Milky Way and Economic Success
4. Mars Incorporated and Expansion
5. Father and Son Collaboration
6. Succession and Legacy
7. Passion for Horse Racing

Early Life and Struggles

Franklin Mars, born on September 24, 1883, in Newport, Minnesota, came from humble beginnings. Despite contracting polio as a child, which limited his mobility, he found inspiration in his mother's home-based candy-making business. At the age of 19, Franklin embarked on his own entrepreneurial journey by opening a candy shop in 1902.

Bankruptcies and Perseverance

Franklin's business ventures initially faced setbacks, leading to three bankruptcies. However, he refused to give up and gradually established a modest living, eventually marrying Ethel Kissack. In 1911, Franklin and Ethel founded Mar-O-Bar, a small confectionery company based in their home.

Milky Way and Economic Success

In 1920, Franklin relocated Mar-O-Bar to Minneapolis, where he introduced the legendary Milky Way candy bar. During the Great Depression, Franklin's affordable 5-cent Milky Way became a popular treat, driving the company's growth. By 1925, the candy bar had become a market leader.

Mars Incorporated and Expansion

In 1926, Franklin renamed Mar-O-Bar to Mars Candies. Two years later, he established a new factory in suburban Chicago. The company's product line expanded with Mars Almond, Musketeers, and the iconic Snickers bar. In 1964, Mars Incorporated merged with his son Forrest's company, M&M/Mars.

Father and Son Collaboration

Franklin's son, Forrest, born in 1904, played a pivotal role in the company's history. Forrest's idea of wrapping chocolate slices in foil led to the creation of the Milky Way candy bar. After graduating from Yale, Forrest established a Mars factory in England in 1932 and launched the Mars candy bar. In 1930, he co-founded M&M Company and introduced the famous M&M's candies.

Succession and Legacy

Franklin Mars passed away in 1934, leaving behind a thriving company with an annual revenue of $30 million. His son Forrest continued to expand Mars Incorporated, acquiring Uncle Ben's and establishing pet food brands Pedigree and Whiskas. Today, Mars Inc. is the world's largest privately held company, boasting 98 factories and 219 offices globally.

Passion for Horse Racing

In his later years, Franklin Mars pursued his passion for horse racing. He established Milky Way Farms in Pulaski, Tennessee, where he bred and trained thoroughbreds. His horses eventually won prizes at prestigious races, including the Kentucky Derby in 1940.