Sam Walton had been the most successful franchisee in the Ben Franklin variety store chain, but discount stores threatened the success of his 18 stores. Walton was convinced that discount retailing would have a bright future even though most in the industry were highly skeptical of the concept. Indeed Walton was quickly rebuffed in his efforts to convince Ben Franklin and others to provide financial backing for his proposed venture into. discounting. With no major chains willing to back him, Walton risked his home and his property to secure financing for the first Walmart in Rogers, Arkansas