What made the auto industry your career of choice? You come from the banking industry, so how did the career segue happen?
Well, from banking to cars, many may not see a connection, but in reality, it was pretty much a linear path. My father, Edward McNamara, worked for GMAC — General Motors Acceptance Corp — for 45 years; I worked for them as well in college, doing telephone collections.
When I graduated college, the entry-level position at GMAC was outside collector. After talking to collection customers on the phone while going to college, I knew I didn’t really want to meet them in person. Fortunately, I was hired by Southeast Bank and went through their Commercial Lending Training program. When I completed the training, I was placed in the Dealer Finance Department because of my auto background from working at GMAC.
I handled inventory floor plan financing and related loans, so all my customers were auto dealers. I called on all dealers in Florida.
The Reeds were customers of mine for over 12 years before I joined their organization. The dealership started in 1950 and is currently in its third generation with Raymond Reed. He offered me a position with their company, and I have loved every minute of working with this dealership group.
You have been with Reed Nissan for almost 15 years. How has the car industry changed from then to now?
There’s much more technology involved in how we do business now, as opposed to then.
The dealership where you are working is 70 years old and a family-owned dealership. What are some of the challenges and rewards in working for a family business?
I personally prefer working for a family business because I feel like I am part of the Reed family and want to help continue building their business. Family businesses are different because they follow the values of the family, not the mission statement of a corporate entity. These businesses are usually very involved with the local community because the owners live there. The business is operated on how the family wants it versus answering to stockholders.
I think when you work for a family business, it’s especially important that your own values align with the family values.
It’s easy for dealers to be caught up in our own bubble focusing on our day-to-day operations. CFADA is a great resource.
Describe your educational background. What did you study?
I earned a BBA in Finance from the University of Miami and an MBA from the University of Central Florida. I also attended the National Automobile Dealers Association (NADA) Academy.
Are there any specific individuals who had a major impact on your career?
My father, Edward McNamara. He reached a high-level position at GMAC — without a college degree — by working hard. He taught me to treat everyone equally and to treat them with respect. He used to tell me that the people you meet on the way up, you may meet on the way down, so you should treat everyone the way you would want to be treated.
What is the most rewarding part of your career?
For me, it’s that I have been able to leave a banking career and transition to help run a great company in a much different business. It’s certainly a different path — one that I didn’t see coming. But it’s rewarding that I can use my skill set with something I find interesting and am passionate about.
What do you think will be some of the auto industry’s dominant trends in the next five years?
We all see the EV trend coming and the entrance of more disrupters to the franchise system.
I think we’re going to see manufacturers embracing exploring selling direct to customers. Ultimately, the question will be: to whom does the customer belong, the dealer or the OEM? Also will OEM’s try to deal directly with customers for service as well? For example, using over-the-air updates for vehicles.
I believe we will have to work to protect the dealer franchise system. The battle will be for the control of the customer and who controls the relationship.
Why is it important to be a CFADA member? What makes it beneficial?
CFADA gives us a common voice. It’s imperative with an industry that is constantly evolving and changing. We need to have representation locally, statewide and nationally.
It’s easy for dealers to be caught up in our own bubble focusing on our day-to-day operations. CFADA is a great resource. For instance, this past year, when the conversation turned to which businesses should stay open or be closed due to the pandemic, our industry was deemed essential in Florida. Fortunately, we never had to shut down, and that came down to having our message heard in Tallahassee and locally. Evelyn worked tirelessly for us to keep our dealerships open.
Advocacy is so important because our business and the franchise system are being attacked in many ways.
Are you involved in any civic or charitable organizations?
I am the Treasurer for the Pet Alliance of Greater Orlando, which was formerly the SPCA. They adopt out over 6,000 dogs and cats a year. The Pet Alliance’s focus is rehoming surrendered pets. The biggest reason many pets are surrendered is landlord issues. Pet Alliance has many programs trying to help people keep their pets: from partnering with Meal on Wheels to have pet food delivered to the elderly and hosting low-cost veterinary clinics. Pet Alliance just started on a $14 million campaign to build a new facility.
I’m on the board of directors for the West Orange Chamber of Commerce and their Executive Committee. The Chamber has over 1100 members, and we work hard to do business with fellow members and support the local business community.
I am also Chair-Elect of the Florida Automobile Dealers Association, and I would hope all the members of the CFADA are also members. FADA has taught me so much about the legislative system in Florida, and we work hard to protect the franchise laws in place and try and pass legislation to improve them.
We work hard to engage our dealership employees. We’ve hosted the Reed Nissan Adopt-A-Thon for cats and dogs with Pet Alliance for the past seven years. We also support Embrace Families, which works in the local area to mentor, foster and adopt children. We have the Reed Nissan Cars or Kids program, where for the past six years, we have given away two new vehicles per year to foster kids aging out of the system.
I really believe that dealerships are more than just a business — we’re part of the community. We work to create awareness with the charities we work with, and we encourage our employees to get involved in our community.
I enjoy racing my Nissan 350Z and Nissan 240SX with the Sports Car Club of America (SCCA). I have run the New York Marathon six times, the Chicago Marathon once, and the Disney Marathon once (so far!).
What’s the secret sauce for you in running a successful dealership?
For us, it’s “happy employees will create happy customers” first and foremost. It sounds simple, but in practice, it takes focus and effort every day.
We have been in business for over 70 years for our dealership and are in the third generation of family ownership. We get a great deal of joy and satisfaction from seeing employees achieve success and how it can change their lives.
If you look back at your career and life, what would be three things you have learned that you would pass onto a younger member within the auto industry?
First, establish trust. Earning trust is hard to gain but easy to lose. Trust is essential in all relationships, especially in business. Second, work to improve yourself and keep learning. There are many different paths you can go working at a dealership, so find what is you want to do and pursue it. Don’t be afraid to ask questions or for help. And third, embrace change. How we do as a business changes daily, as do our customers’ expectations. To be successful, you need to be able to adapt and move forward.
How did you weather the pandemic storm?
It was a difficult time and one we hopefully won’t have to go through again. It was a difficult time to conduct business with so much uncertainty. Our employees were tense, and our customers were tense, which is not a good combination. I would joke about not wanting to check my phone because the news was never good.
We tried to lead by example by following local protocols and realizing everyone had a different take on what was happening. We tried to create an environment where we could make our employees and customers feel as safe as possible under the circumstances.
What is the takeaway for you from the pandemic that will guide your future business decisions as a small-business leader?
I think we all learn from our experiences. Last year accelerated the digital aspect of our industry. Now we will see what happens as we start returning to normal. Also, be adaptable to change because no one could have imagined what we all went through the last year, personally and in business. Many changes were forced upon us during the pandemic but will now be a permanent part of our operations going forward because they taught us a new successful way to do conduct business.
What do you foresee as industry challenges in the next five years?
Florida has the best franchise laws in the country, and we need to make sure they are enforced. We need the help of the Florida DMV to enforce the laws we fought hard to get in place.
The model for selling direct is here and more entrants are coming. The dealer franchise system has been successful for the last 100 years and is the best model for selling vehicles. Dealers are drivers of the local economy by providing high-paying jobs, collecting a significant portion of Florida’s sales tax, and supporting the local community and charities.
Tell us about your family.
I have been married to my wife Michelle for 18 years. We have two Golden Retrievers, Milo and Sophie, and a horse named Evita that Michelle show jumps.
What is your favorite way to spend your free time? Any unusual hobbies?
I enjoy racing my Nissan 350Z and Nissan 240SX with the Sports Car Club of America (SCCA). I have run the New York Marathon six times, the Chicago Marathon once, and the Disney Marathon once (so far!). Michelle runs marathons as well. I’ve also climbed Mount Rainier.
Tell us a little bit about Reed Motors Racing?
As I mentioned I race with the SCCA. It’s amateur racing, and they have about 60,000 members nationwide. Here in Orlando, we are fortunate to have both Sebring and Daytona so close. I’ve also raced at Homestead, Palm Beach, Roebling Road, VIR, NOLA, and Indianapolis. Later this year, we will be traveling to Indianapolis for the SCCA Runoffs. It’s a fun way to promote the dealerships and get our employees involved.
