BE 100s Billion-Dollar Club: Lessons from Top-Earning Black Business

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Gregory Jackson has always prided himself on customer service and sales prowess to enable his Detroit-based megadealership Prestige Automotive to zoom past the competition. In 2005, it also made history by becoming the first black-owned automotive franchise to surpass $1 billion in sales , achieving the pole position on the then AUTO DEALER 100.  At the time his revenues were driven by new locations - he then had a total of nine outlets- repair services and fleet sales, which had represented 60% of his business. He stayed a billion-dollar dealer for three years until an industry downturn that decimated black franchises, among them BE 100s mainstays. As a result, our auto rankings shrunk to 60. The savvy Jackson, however, weathered the storm by restructuring Prestige's operations and eliminating less profitable fleet sales. Still among the largest black-owned dealerships, Prestige ranked No. 5 on the BE AUTO DEALERS list with $414 million in revenues.

Gregory Jackson has always prided himself on customer service and sales prowess to enable his…