Costco Wholesale was founded by James Sinegal and Jeffrey Brotman in Seattle, Washington in September 1983. Costco's business
was modeled after Price Club, a southern California based chain which started as FedMart.
The two retailers were similar in size when they merged with Costco in 1993 and the company changed their name to PriceCostco.
Sol Price, founder of Price Club, and his son Robert Price founded Price Enterprises and left in 1994. The company changed
their name back to Costco Wholesale, Inc. in 1997.
Their only competitors are Wal-Mart's Sam's Club and New England based BJ's Wholesale Club. Costco Wholesale requires
memberships which costs from $50 to $100 dollars per year depending on the type of membership you buy.