It’s official. Jeff VanderWal now owns a franchised car dealership.
Some context: VanderWal has donned many hats and titles in automotive, including CEO of ClearShift, his Colorado-based used-car operation, which he founded in 2016.
VanderWal, on behalf of ClearShift, purchased a well-established Ford store from husband and wife team J.L. Larson and Sarah Larson in a deal that closed June 15.
Freedom Ford is in Gunnison, Utah, about two hours south of Salt Lake City.
What they’re saying: VanderWal told CDG News that the name will remain.
“It’s a 40-year-old family dealership that's got extremely deep ties in the community,” VanderWal said. “We wanted to keep as much the same as we could.”
That means most of the staff, too, including Sarah Larson, who will stay on as general manager.
VanderWal also said the store has won two President’s awards, comes with good CSI marks and reputation, and that the Larson family’s values aligned with what they were looking for.
“I think the number one thing we were looking for is character and heart posture for the people that work there that had to align with our vision and values at ClearShift,” VanderWal said.
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First-time buyers: Prioritizing a relationship with the manufacturer is really important, VanderWal said of the journey.
His other notes for fellow novice buyers include:
Build out a dedicated administration team to handle: manufacturer paperwork, lender requirements, state licensing, taxes, insurance, and so on.
Expect a heavy vetting process, even if you already own an established business. And if you think being a used-car expert helps, it doesn’t. (A rather universal experience for independent operators, he said).
“I can't tell you how many lenders I've talked to in the last five years that have said, ‘Oh, yeah, we don't sign up independents,’” VanderWal said. Consider it a “no until it’s a yes,” he said regarding the approval process.
A taste of history: VanderWal said he’s proud to represent the longtime global automaker and said the brand’s heritage popped up everywhere.
Even in the dealer agreements, some of which VanderWal said use decades-old language that reinforces the brand’s legacy.
“They're just really proud of their heritage as a company…,” VanderWal said. “It's nostalgic a bit, and it makes you feel proud to be able to represent Ford.”
Looking ahead: ClearShift aims to buy about one store per year, with a target of owning 10-15 dealerships over that period.
The growth focus will remain in the Mountain West: Colorado, Utah, Idaho, Montana, Wyoming, and Arizona.
He said they’ll use ClearShift's existing systems, processes, and team across newly acquired stores to help achieve scale.
“If we can leverage those people with our systems and processes and put them into stores that are lacking systems and processes, like most do, we feel like there's a lot of growth potential,” VanderWal said.
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, powered by:
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