The Walmart Business Lesson That Built a Ferrari Dealer Empire & What He'd Do Differently | Stuart Hayim, Owner at Experience Auto Group
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RSS Feed 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.
Topics:
00:00 He Was Shipping 30,000 Rugs A Day.
09:05 Pull Your Belt In, I'll Pull Mine.
10:50 Eight Slices, Just A Bigger Pizza.
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.
51:20 More Demand Than Supply Ends The Grind.
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