Harold Price began his career with the Joe Lowe Corporation, a bakery and ice cream supply business in 1928, after earning a BS in economics from the Wharton School. By 1938 he had formed a highly successful subsidiary of the company called "Cottage Donuts." At its peak, Cottage Donuts sold 100,000 donuts per day, produced in nineteen plants throughout the United States. During World War II, Harold was with the War Productions Board in Washington, D.C. and administered the national program for the conservation of honey. After the war, he was involved in an expansion program involving the buyout of similar companies by the Joe Lowe Corporation. A total of six companies were purchased, five of which were very profitable. In 1965, Harold negotiated a merger for stock with Consolidated Foods Corporation. He ran the Joe Lowe division and served on the Consolidated board for four more years. Mr. Price then became a consultant and retained a sizable stock position with Consolidated Foods and its successor, Sara Lee.
Over the years, Harold came to realize that American private enterprise could not flourish without the innovative spirit of entrepreneurs. They were the risk-takers who created new products and developed new applications for existing goods or services. These individuals had vision and drive and were determined to succeed despite uncertain outcomes. Harold had seen the American economy grow because of entrepreneurs much like him, entrepreneurs who had a dream and made it happen. It was this awareness that prompted Harold Price to found the Price Institute for Entrepreneurial Studies, a not-for-profit corporation, in 1979. The Institute is dedicated to the recognition, development and growth of entrepreneurship in America. Among the Price Institute's undertakings at UCLA was the establishment of the first Price Million-Dollar Challenge, which helped expand UCLA's entrepreneurial programs. In addition, Mr. Price challenged the program's Board of Advisors to form a support group, the Friends of the Entrepreneurial Studies Center, who would provide personal support, as well as the matching capital to permanently endow the school's entrepreneurial activities. The Price Institute recently established a second million dollar challenge grant.
The Harold Price Center for Entrepreneurial Studies was dedicated at a dinner held in Entrepreneurs Hall on June 2, 1995. The Price Center is consistently ranked among the top entrepreneurial programs in the country.
Harold Price passed away January 2004, but his legacy lives on. He is survived by his daughter, two grand-daughters, and 5 great-grandsons. Price donated more than just $15.5 million to entrepreneurship over the years. He donated a passion dedicated to preserving the entrepreneurial spirit, "which he believed was the key to America's greatness" (per grandaughter Bonnie Vitti).