Walton opened a small business called "Walton's 5&10" in a small town of Bentonville, Arkansas. This small business followed the motto of selling a variety of products at low prices. Hence the name "Walton's 5&10" or "5" meaning nickel and "10" meaning dime putting it all together as Walton's Nickel and Dime Store. With the initial success of his business he sought to expand. Walton opened the first store under the Walmart name in 1962 in Rodgers, Arkansas. Sam Walton's formula was to offer low prices and great service to consumers, almost too good to be true. His competitors believed exactly this, doubting that this would never work. Sure enough the business prospered and grew rapidly exceeding the expectations of Walton's dream. This has changed the way retail is done forever. One of Sam Walton's speeches stated, "If we work together, we will lower the cost of living for everyone... we will give the world the opportunity to see what it's like to save money and have a better life." With all the success it had accumulated, Walmart was steadily on its way to becoming a