We all have that one friend who’s tried a gazillion things, right? Well, Donald Trump is that friend for the business world. From steaks to stakes in casinos, our ex-president tried his hand at many ventures. But, hey, not everything was a home run! Let’s take a look at some of Trump’s most unforgettable business strikeouts and why they failed.
Into the Glam
Launching in 2007, Trump Magazine was all about the allure of the high life. Glitzy soirées, luxe fashion spreads, and behind-the-scenes glimpses into celebrity lives adorned its pages. Targeting the creme de la creme, Trump wanted his publication to become the ultimate guide to New York City’s posh living.
Outshone and Outpaced in the Magazine Race
However, the media landscape was already filled with iconic titles, from Vogue to Vanity Fair. Trump Magazine had to find its unique space among them. The magazine struggled to sustain as advertisers chose the tried and trusted, and readers’ loyalties stayed put. By 2009, it had stopped publication, becoming a brief blip in magazine history.
Raising the Bar
In 2006, the liquor world was introduced to Trump Vodka. It wasn’t just any vodka – with its striking bottle design and the promise of superior quality, Trump Vodka aimed to be synonymous with luxury. Trump, ever the confident entrepreneur, even claimed it’d be the most-sold vodka in the market.
Getting Lost in the Liquor Aisle
However, vodka enthusiasts are a loyal bunch. Brands like Grey Goose and Absolut had spent years establishing trust and reputation. While abundant in promise, Trump Vodka couldn’t break through this loyalty wall. After noticing the tepid response, bars and liquor stores began phasing it out, making Trump’s vodka dream short-lived.
Big Bucks and Bigger Deals
1989 saw an intriguing board game enter the market. When Donald released Trump the Game, he wasn’t making a simple Monopoly goal to gain wealth. Instead, the game was about emulating Trump’s style of deal-making. “Can you out-Trump Trump?” was the challenge posed to every player, echoed by its catchy tagline.
Left on the Game Shelf
While the game aimed to mix strategy with glamour, many found its rules complex and less intuitive. And in a world where Monopoly was already a family favorite, Trump the Game seemed redundant to some. Despite its grandeur and Trump branding, it soon gathered dust, leading to its discontinuation.
Sizzling Aspirations
Trump’s 2007 venture into the culinary world brought forth Trump Steaks. These weren’t just any cuts of meat. These were premium, hand-selected, and aged for flavor perfection. Trump claimed that they were meant for the discerning palate. He wanted his steaks to be a cut above the rest (pun intended).
Mis-steak in Retail Choice
The quality of Trump Steaks might have been top-notch, but their placement was puzzling. The Sharper Image, known for selling quirky tech and gadgets, was an odd choice to sell gourmet steaks. Unsurprisingly, customers weren’t biting, and soon, Trump Steaks was taken off the grill of business ventures.
The Casino Royale Dream
With its glittering skyline and promise of fortunes, Atlantic City beckoned Trump. With visions of grandeur, he envisioned bigger and better casinos than most. Instead of just having house gaming tables, Trump dreamed these places would be landmarks and luxury statements where the high rollers would flock.
A Streak of Bad Luck
While the initial reception was strong, the world of casinos is as unpredictable as a roll of the dice. As debts accumulated and competition from newer, flashier casinos grew, Trump’s casinos couldn’t keep pace. Multiple bankruptcies signaled the end of Trump’s casino dream, marking yet another bump in his entrepreneurial journey.
Aiming for the Stars with Trump Airlines
When you thought of Trump Airlines, launched in 1988, you were meant to think of luxury. Those gold-plated bathrooms weren’t just for show! Acquiring Eastern Air Shuttle, Trump envisioned converting the commuter service into a luxury airline, one that would stand out in the skies, catering to the elite with an experience unparalleled in its luxury.
The Descent of A Dream
However, creating a luxury airline meant spending heavily on renovations and top-tier services. With escalating operational costs and a challenging airline market, profits were elusive. Even though the interiors gleamed, the financial sheets didn’t. This financial turbulence meant Trump Airlines never truly took off, leading to its sale to USAir by 1992.
The Lure of Trump University
2005 saw the arrival of Trump University, promising a golden ticket to the world of real estate success. Instead of traditional classrooms, it offered courses, seminars, and mentorships. The pitch was straightforward: learn the Trump way and make your fortune in real estate, echoing Trump’s own journey.
Education or Illusion?
However, there was one big problem – Trump University was not a licensed university. This meant no degrees or traditional educational credentials. Many students claimed the courses were more motivational than educational. The culmination was a $25 million settlement in 2016 to resolve the claims of aggrieved students.
Venturing into Homes with Trump Mortgage
At a time when the real estate market seemed unstoppable, Trump spotted an opportunity. Trump Mortgage was launched in 2006, not just as another mortgage company but one with the Trump brand of success behind it. It aimed to offer various mortgage products and claimed to have solutions for everyone, from first-time homebuyers to wealthy folks.
An Untimely Endeavor
But just as Trump Mortgage was trying to find its footing, the housing bubble of 2007 burst. The market went from buzzing to crashing. With declining home values and rising loan defaults, Trump Mortgage was caught in the storm. Being a newcomer, it lacked the resilience of more established firms and had to close its doors in less than two years.
The Promise of Prosperity with Trump Network
As health and wellness began making headlines, Trump Network entered the scene in 2009. However, it was a multi-level marketing scheme. The idea? Personalized health regimens tailored for you based on unique tests. This venture promised health and a chance for entrepreneurs to grow their businesses under the Trump banner.
An Elixir Short of Success
The health and wellness industry is teeming with competition and skeptics. While it sounded good on paper, real-world efficacy was questioned. Additionally, Trump Network’s multi-level marketing structure faced scrutiny. With challenges on both product and business fronts and growing skepticism, the Trump Network eventually fizzled out.
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