The Walmart Business Lesson That Built a Ferrari Dealer Empire

Stuart Hayim spent 20 years selling $3 handmade rugs before he ever owned a dealership, and a Walmart buyer who asked for a 50 cent discount in exchange for a bigger order taught him the lesson that built his dealer group. He walks through how that deal grew from 1 million rugs to 2.5 million, and argues that the best deals in the car business are the ones where the dealer, the customer and the employees all walk away ahead, instead of a tug of war where one side wins and the other loses. Stuart Hayim is the Owner of Experience Auto Group, where he runs Ferrari stores in Fort Lauderdale and the newly opened Boca Raton. He came into the car business late, landing his first Mercedes store in Massapequa, New York in 2004 after a two-year campaign for a new factory point, and went on to represent Ferrari, Maserati, Porsche, Volvo and Rolls-Royce. A cancer survivor and multi-time powerboat world champion, he speaks candidly at 79 about the deals he won, the deal he gave away, and the store he wishes he never sold. He explains: ◼ How a Walmart buyer asked for 50 cents off, more than doubled the order, then sent him to India with the purchase order to win the discount back ◼ Why he told a rival bidder "You take the deal" on his first Mercedes store, and how that rival ended up handing it back to him ◼ How a $25 Bloomingdale's gift certificate for every test drive brought new faces into a brand-new Mercedes store, with about $250,000 handed out ◼ How "Operation Condor" pushed his stores to finish one, two and three in the country for Maserati, outselling England and Italy in just two months ◼ Why selling Mercedes after a bank scare was "the biggest philosophical mistake" of his 56 years in business ◼ Why Ferrari limits production even with a waiting list, and why he says that takes a kind of courage most brands don't have Topics: 00:00 He Was Shipping 30,000 Rugs A Day. 07:35 Got A Million-Unit Order Over Coffee. 09:05 Pull Your Belt In, I'll Pull Mine. 09:50 A Purchase Order Was A Loaded Gun. 10:50 Eight Slices, Just A Bigger Pizza. 14:00 Commission Makes Salespeople Not Allies. 17:25 Chased An Executive Down A Snowy Hill. 21:00 Bowed Out Of A Deal, Got It Back. 24:50 Selling Mercedes Was His Biggest Mistake. 31:45 Bought Department Store Lists For Test Drives. 38:45 New Year, What Are You Doing For Me Now. 51:20 More Demand Than Supply Ends The Grind. This episode is brought to you by: 1. @Podiumsoftware — Podium is the AI platform trusted by 1 in 4 dealerships. Their AI converts leads 40% higher than the industry average and can be customized to how each store sells. Visit @ https://automotive.podium.com/cdg to learn more. 2. CLERQ - Clerq's instant bank payment solution modernizes down payments, deposits and other large transactions — helping leading dealerships drive more sales, cut costs and reduce risk. Visit @ https://www.clerq.io/contact-us to learn more. 3. @openlaneus - The world’s best online dealer marketplace for used cars, bringing you exclusive inventory, simple transactions, and better outcomes. If you’ve never used OPENLANE before, or it’s been a while since you have, you’re eligible to earn up to $2,500 in buy or sale fee credits. Learn more @ https://openlane.com/cdg Check out Car Dealership Guy’s stuff: For dealers: CDG Circles ➤ https://cdgcircles.com/ Industry job board ➤ http://jobs.dealershipguy.com Dealership recruiting ➤ http://www.cdgrecruiting.com Fix your dealership’s social media ➤ http://www.trynomad.co Request to be a podcast guest ➤ http://cdgguest.com For industry vendors: Advertise with Car Dealership Guy ➤ http://cdgpartner.com Industry job board ➤ http://jobs.dealershipguy.com Request to be a podcast guest ➤ http://cdgguest.com Car Dealership Guy Socials: X ➤ https://www.x.com/GuyDealership Instagram ➤ https://www.instagram.com/cardealershipguy/ TikTok ➤ https://www.tiktok.com/@guydealership LinkedIn ➤ https://www.linkedin.com/company/cardealershipguy Threads ➤ https://www.threads.net/@cardealershipguy Facebook ➤ https://www.facebook.com/profile.php?id=100077402857683 Everything else ➤ https://www.dealershipguy.com

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