Business View Magazine - September 2015

130 Business View - September 2015 Business View - September 2015 131 Summit Automotive How customer satisfaction and employee empowerment drove 170 percent EBIDTA growth in three years In eight short years, Summit Automotive has experi- enced runaway success, growing its network of dealer- ships well beyond its Denver, Colorado headquarters and posting 170 percent EBITDA growth over the past three years. Today, Summit’s operations span 22 fran- chises selling multiple brands to drivers in Colorado as well as Nashville, Tennessee and throughout northern New England. This year alone, the group expects to sell more than 30,000 vehicles to the tune of one billion dollars in revenue. But in sizing up how far Summit has come so quickly, CEO Bill Carmichael remains humble and understated: “It’s been a nice success story for us.” Carmichael founded Summit in 2007, with a small group that included George N. Gillett, Jr., a business- man who has owned more than 200 companies in a wide range of industries, from sports teams to ski resorts. Unsurprisingly, an entrepreneurial spirit has always been part of Summit’s DNA and much of its success can be attributed to an acquisition-fueled growth strategy, in which operations at under-perform- ing dealerships are streamlined and refined. But the reason that Summit has been able to sustain this level of growth — and what makes the company truly dif- ferent from others in the industry — isn’t apparent in the numbers. Carmichael and Gillett’s shared vision for Summit was to deliver an experience for customers completely unlike the confrontational, high-pressure sales tactics that stigmatize car sales. Instead, they urge their employees to think of themselves as stew- ards, upholding the company’s values of honesty, in- tegrity, and full disclosure. “Honesty may sound like a small thing,” Carmichael begins. “But people are always looking for clues to de- termine if you are what you say you are. Living out our values in every interaction we have with customers is the best way to earn their trust.” This cultural emphasis on transparency is a response to what Summit has heard, time and again, from cus- tomers and the company has translated that feedback into a guiding philosophy of “Value Added Benefits.” These benefits formalize a promise to customers that the transaction will be simple and straightforward, the vehicles are competitively priced, Summit Certified will fix any issues that crop up in two months or 2,000 miles, and they’ll even let customers return a vehicle — no questions asked — if they have a change of heart. “We want every customer to be completely satisfied,” AT A GLANCE WHO: Summit Automotive Partners WHAT: An automobile management group WHERE: Headquarters in Denver, Colorado WEBSITE : www.summit-ap.com automotive automotive