Retail

Dealer puts managers on path to ownership

Gramm: "I learned that if I could make people owners in a store, they'll work a lot harder."
November 20, 2017 05:00 AM
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Jim Gramm
  • Title: Owner, Safford Automotive Group
  • Big break: Bought his first store, Safford Dodge in Fredericksburg, Va., April 1, 2002
  • How: Paid $3 million, had a $1 million line of credit and agreed to donate $1 million to a homeless charity over 10 years
  • Now: Safford Automotive Group has 8 dealerships; ranks No. 133 on Automotive News' list of the top 150 dealerships based in the U.S.; retailed 6,602 new units in 2016
  • Future: Gramm wants to own up to 15 dealerships with the general manager at each store as an equity partner

Dealer Jim Gramm knocked around the car business for nearly 20 years, mostly in sales. But as he approached age 40, a hard reality hit him.

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