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S&R Membership Shopping was established in 2001 as S&R PriceSmart, a franchise of American membership warehouse club chain PriceSmart. [1] [2] The name "S&R" stands for American businessmen Sol and Robert Price, founders of Price Club and PriceSmart. [1]
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Price Club membership was initially only available to business customers, but was later expanded to other groups, such as employees of local businesses, nonprofits, and governments. [ 5 ] [ 1 ] The company charged shoppers a $25 annual membership fee to purchase bulk products at discount prices in a no-frills warehouse setting.
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