Pub. 60 2019-2020 Issue 4

11 SUMMER 2020  MINORITY DEALERS — CONTINUED ON PAGE 12 T exas dealer Fernando Varela made it through the Great Recession because he was “stingy” with money. The economy has been on an upward trajectory in the years since, but Varela said it’s bound to slow down at some point. When it does, minority dealers will need to be ready. Cash management will be one of the key issues head- ing into 2020 for minority dealers, said Varela, who was named chairman of the National Association of Minority Automobile Dealers in August. Varela, 60, owns three Ford dealerships and a Chevrolet-Buick-GMC-Cadillac store — all near Dallas. He spoke with Staff Reporter Vince Bond Jr. about his goals as NAMAD chairman, the prospect of an economic downturn and challenges facing minority dealers. Here are edited excerpts. How did you get into the business? I originally went to the Ford dealer development training program about 27 years ago. I'm actually celebrating 25 years as a dealer this month. I graduated from the Ford program and I purchased my first store, the one here in Palestine. That's how my car career started. Was it a challenge to start your first store? Yeah. Somebody just gives you the keys and says, “Here is your baby.” Things were a little bit different 25 years ago, maybe a little bit slower, which probably worked to my benefit. You always surround yourself with good people and good managers. That makes the whole transition a little bit easier, and I was fortunate to get a good team of people around me from the beginning. That helped my transition and learning curve. What has led to your success? What are some of your strategies? I think it’s like any business. When you start taking care of the customer and you make the whole experience enjoy- able, people come back to see you time after time. Treating people in the service department the right way, and that has always come back around and helped me. People come back and support the sales side of it. People, no matter if they’re your family members or not, they will not buy from you if you don't treat them right and give them a fair price. I would always make sure that it doesn’t matter who they are and that they’re being treated right. Sometimes people get Minority Dealers Should Watch Expenses By Vince Bond Jr. AutoNews, Reprinted With Permission This article, written before the current recession, is especially timely in today's uncertain economic climate.