Franklin Covey Co., formerly Franklin Quest, said Friday it is renaming its 117 retail stores Franklin Covey 7 Habits Stores and adding hundreds of new items to the inventory.
In a telephone press conference, Hyrum Smith, chairman and CEO, and Stephen R. Covey, co-chairman, said the new store concept creates "a one-stop resource of products and services to help people manage their lives more effectively."Covey, author of "The 7 Habits of Highly Effective People," said it will be the first retail chain "focused on principle-based tools for effective living. We have repositioned our 117 Franklin Covey 7 Habits Stores to present a `whole life' approach to living effectively, and offer the best-of-the-best products and services to assist consumers in their quest to improve their lives."
Smith said social trends and recent studies show that large numbers of Americans "recognize that they must take personal responsibility for their lives, and that translates into being prepared." He said Franklin Covey recently completed a study "that underscores the very relevancy of the new Franklin Covey 7 Habits Stores."
Smith said the new merchandise - which also will be offered by catalog - is now in the stores. Changing of the signs to the new name should take about 90 days to complete. He also said the company plans to open about 20 new stores by late summer of next year.
He said the company's "America Speaks" study indicates that people long for "a better balanced life - a better quality of life - at work, home, and in their relationships."
The poll showed that 83 percent feel the need to be more organized and 42 percent feel their "life is a treadmill and (they) can't get off."
He added that the growth of the personal and corporate training industry over the last 10 years underscores "this pervasive feeling Americans report of not having enough control over their lives."
Franklin Covey said that under the new concept, the 7 Habits stores will carry the combined product lines of the former Franklin Quest and Covey Leadership Center organizations but also an additional 300 books and products from other sources, including books by Tom Peters, Peter Senge, John Gray and Dr. Laura Schlesinger.
"The important difference is that all our products will reflect the Franklin Covey belief in the power of principles to improve your life," said Covey.
"Our research shows that ethics and character are highly regarded. People want to keep their promises. They want to be more organized. They feel that parents need to spend more time with their children. They want to be better prepared for the roles they play in life. And they want to give back to their communities.
"At the same time, people - especially women - feel they don't have enough time."