Latest / MountainWest Capital Network: Welcome to the Winners' Circle / A Century of Thinking Young | How Young Automotive Built a Four-Generation Family Business

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A Century of Thinking Young | How Young Automotive Built a Four-Generation Family Business · MountainWest Capital Network: Welcome to the Winners' Circle

• 0:02
  Speaker 1: It's amazing to see guys that started as lot technicians,
• 0:06
  Speaker 1: now they're running stores, making wages that a doctor makes.
• 0:09
  Speaker 2: So we created this annual thing where we're feeding about 25,000
• 0:15
  Speaker 2: to 30,000 children.
• 0:17
  Speaker 1: We feel like we're an advantage. We feel like we're
• 0:19
  Speaker 1: in a state that's on the cutting edge of business.
• 0:27
  Speaker 3: You're listening to the Mountain West Capital Network podcast, your
• 0:30
  Speaker 3: gateway to the winner's circle. I'm Sherry, the executive director
• 0:33
  Speaker 3: of Mountain West Capital Network.
• 0:35
  Speaker 4: And I'm Jason, president of the Mountain West Capital Network
• 0:37
  Speaker 4: and managing director at Protivity. Every episode, we sit down
• 0:41
  Speaker 4: with Utah's most visionary business leaders to uncover the ideas, risks,
• 0:45
  Speaker 4: and wins behind the state's fastest growing companies.
• 0:49
  Speaker 3: Mountain West Capital Network is best known for the Utah 100,
• 0:52
  Speaker 3: our flagship event that recognizes the state's fastest growing businesses.
• 0:56
  Speaker 3: But behind every number is a story, and that is
• 0:59
  Speaker 3: why we are here today.
• 1:01
  Speaker 4: You're not just tuning in to hear what's happened. You're
• 1:04
  Speaker 4: stepping inside the winner's circle to understand how it happened.
• 1:08
  Speaker 3: Today, we are excited to be joined by Spence and
• 1:11
  Speaker 3: Oliver Young from Young Automotive Group in Layton, Utah. Young
• 1:15
  Speaker 3: Automotive has been around since 1924 when Selden Jack Olson
• 1:21
  Speaker 3: teamed up with his son-in-law, Sam Young, and has been
• 1:24
  Speaker 3: passed down through family generations ever since.
• 1:28
  Speaker 4: Spence Young Jr. is the fourth generation to be involved
• 1:31
  Speaker 4: in the family business and currently serves as president of
• 1:34
  Speaker 4: the Young Automotive Group. He also serves on the board
• 1:37
  Speaker 4: of directors and is responsible for the global growth, operation,
• 1:42
  Speaker 4: and profitability of the company. He works hard to support
• 1:45
  Speaker 4: his community as a current trustee for the Young Caring
• 1:48
  Speaker 4: for Our Young program, a 501c started by Young Automotive
• 1:53
  Speaker 4: to help youth-oriented charities He is a native of Layton, Utah,
• 1:57
  Speaker 4: and has been married for 24 years to his wife, Cassie.
• 2:01
  Speaker 4: They have two daughters, and they enjoy traveling and skiing
• 2:04
  Speaker 4: together when Spence isn't on the golf course.
• 2:07
  Speaker 3: Oliver Young joined the family business at a very young
• 2:10
  Speaker 3: age and currently serves as the innovation director for Young
• 2:13
  Speaker 3: Automotive Group. He is also a fourth-generation family leader and
• 2:18
  Speaker 3: has been recognized in Automotive News' 40 Under 40. He
• 2:22
  Speaker 3: is the founder of Oz Marketing and co-founder of The
• 2:25
  Speaker 3: Kind Fund. Oliver is passionate about innovation, community, and the
• 2:30
  Speaker 3: outdoors and serves on multiple nonprofit boards. He is married
• 2:34
  Speaker 3: to his wonderful wife, and they have three children together.
• 2:38
  Speaker 4: Spence and Oliver, welcome to the Winner's Circle.
• 2:39
  Speaker 2: Thank you. Thanks.
• 2:41
  Speaker 1: We're honored to be here.
• 2:43
  Speaker 3: So Young Automotive has been around for generations in your family,
• 2:48
  Speaker 3: and I would like to start with how you... Have
• 2:53
  Speaker 3: you tell the story of how it actually got started?
• 2:55
  Speaker 4: Okay.
• 2:57
  Speaker 1: I'll take that. So my great-grandfather, just like you mentioned,
• 3:00
  Speaker 1: Jack Olson, started the company in 1924. He was a
• 3:03
  Speaker 1: technician in Morgan, Utah. So he was just working on cars,
• 3:08
  Speaker 1: fixing cars in a garage. He picked up the Oldsmobile
• 3:11
  Speaker 1: franchise in 1924. So he reached out to them, or
• 3:16
  Speaker 1: I think they reached out to him and said, hey,
• 3:19
  Speaker 1: would you take on this franchise? He did. Um, and
• 3:23
  Speaker 1: then in 1925, he took on the Chevrolet franchise. So
• 3:26
  Speaker 1: if you go up there right now into Morgan, Utah
• 3:28
  Speaker 1: and commercial Avenue frontage road there, there's a building that's
• 3:32
  Speaker 1: a grounds for coffee. If you go to that building,
• 3:35
  Speaker 1: just outside the door, there's a plaque that says the
• 3:38
  Speaker 1: old original home of, of, of Olson Chevrolet. Um, so yeah,
• 3:43
  Speaker 1: if you go up there, it's still there today. It's
• 3:44
  Speaker 1: really neat. So yeah, it started with, uh, my great
• 3:47
  Speaker 1: grandfather and he ran that business. He ran it through
• 3:49
  Speaker 1: the great depression. there's stories that he's written of he
• 3:53
  Speaker 1: would drive around town with his tow truck until he
• 3:56
  Speaker 1: sold the car. And, you know, when you're dealing 1929,
• 4:00
  Speaker 1: 30 and 31, he was dealing with like loans where
• 4:04
  Speaker 1: he was guaranteeing the loans. He'd have to go repossess
• 4:06
  Speaker 1: the cars. So he went through a tough, a tough
• 4:09
  Speaker 1: go starting the business out and came out of that
• 4:12
  Speaker 1: and became very successful. And he was one of the
• 4:16
  Speaker 1: first auto dealers to open a multiple point store in
• 4:19
  Speaker 1: So we moved from Morgan. He still has a store
• 4:21
  Speaker 1: in Morgan and moved down to Layton and opened another
• 4:24
  Speaker 1: Chevrolet franchise store down there. So he's one of the
• 4:28
  Speaker 1: first multi-point dealers in the country.
• 4:32
  Speaker 3: Wow.
• 4:32
  Speaker 1: So he had three daughters. My grandpa, Sam Young, he
• 4:37
  Speaker 1: married one of the daughters. Kent Murdoch married another daughter
• 4:42
  Speaker 1: and Vest married another daughter. So The Murdochs and Youngs
• 4:47
  Speaker 1: were actually cousins. So my grandpa Sam and Kent Olson,
• 4:51
  Speaker 1: my dad Spencer, and Kent's son Keo were partners and
• 4:55
  Speaker 1: worked together in our Chevrolet store in Layton years ago.
• 4:59
  Speaker 1: An opportunity came up down the road where the Murdochs
• 5:02
  Speaker 1: could buy a store, a Chevrolet franchise in Woods Cross,
• 5:06
  Speaker 1: and they took that opportunity. They bought each other out.
• 5:08
  Speaker 1: So my grandpa and my dad Spencer bought out. Kent
• 5:13
  Speaker 1: and KO, and they moved down to Woods Cross and
• 5:15
  Speaker 1: started their own operation and dealer group. They're our cousins.
• 5:19
  Speaker 1: We're not partners, but they're wonderful operators, wonderful people, and
• 5:22
  Speaker 1: we've known our whole lives. So that's kind of a
• 5:26
  Speaker 1: fun intersection of families in Utah in the auto business.
• 5:30
  Speaker 1: So my grandpa, he took over running our side of
• 5:34
  Speaker 1: Young Chevrolet, ran it for several years. He went through
• 5:38
  Speaker 1: a tough divorce with my grandmother, my grandma Birdie. And
• 5:42
  Speaker 1: it put the company in a really tough spot, cash-wise,
• 5:46
  Speaker 1: where my dad, he kind of looked at my dad
• 5:48
  Speaker 1: and says, hey, at a young age, at the age
• 5:50
  Speaker 1: of 27, said, hey, I need you to take over
• 5:52
  Speaker 1: the company. I'm going to move to Lake Powell. I'm
• 5:55
  Speaker 1: going to do my own thing. And you got to
• 5:58
  Speaker 1: help me figure it out. So my dad, Spencer, he
• 6:01
  Speaker 1: got with his brother, Selden, and they partnered up, raised
• 6:04
  Speaker 1: some capital, some debt, and were able to stabilize it.
• 6:08
  Speaker 1: stabilize the business and figure out how to take it over. And,
• 6:11
  Speaker 1: and they took over the business. So that's when the
• 6:13
  Speaker 1: third generation really took over. And so it was, it
• 6:16
  Speaker 1: was almost like a reset, you know? So it was
• 6:18
  Speaker 1: almost like you look at them as almost founding partners again.
• 6:21
  Speaker 1: So they ran it for several years and then we
• 6:24
  Speaker 1: grew up in the business and that's all I've ever known.
• 6:26
  Speaker 1: Grew up as a lot technician, washing cars, grew up
• 6:29
  Speaker 1: changing oil, worked in the parts department, wrecked the car truck,
• 6:33
  Speaker 1: got fired. I did. So, yeah, I was raised in
• 6:37
  Speaker 1: the business, grew up in it, and it's all I've
• 6:40
  Speaker 1: ever wanted to do is sell cars. I'd never thought
• 6:43
  Speaker 1: of doing anything different, ever. That's all I've ever wanted
• 6:46
  Speaker 1: to do. So every conversation I had with my dad was,
• 6:49
  Speaker 1: I want to go to work, I want to sell cars,
• 6:51
  Speaker 1: I want to be in the car business. Graduated from
• 6:53
  Speaker 1: high school, went on an LDS mission to Tampico, Mexico
• 6:58
  Speaker 1: for a couple of years, came back, and my dad
• 7:00
  Speaker 1: sat me down and says, hey, Do you want to
• 7:02
  Speaker 1: go to school? I'll pay for it. And happy to
• 7:04
  Speaker 1: do that. Or I'd prefer why don't you come get
• 7:06
  Speaker 1: in the business and you'll be four years ahead of
• 7:08
  Speaker 1: all your friends and I'll just teach you business now.
• 7:11
  Speaker 1: And that's the option, of course, that I was going
• 7:13
  Speaker 1: to take. And that's what I did. And so I
• 7:16
  Speaker 1: got right into the business out of my mission selling cars.
• 7:18
  Speaker 1: I got married quickly. My wife, I met her in
• 7:21
  Speaker 1: high school, my first day of my sophomore year. I
• 7:24
  Speaker 1: met her on my way to a friend of hers
• 7:27
  Speaker 1: picked me up.
• 7:28
  Speaker 2: And she sure makes you look good.
• 7:29
  Speaker 3: Oh.
• 7:32
  Speaker 1: I have no idea how she still has me around.
• 7:34
  Speaker 1: She hasn't kicked me out yet.
• 7:36
  Speaker 3: We should have her. That's a whole other episode.
• 7:38
  Speaker 1: No, you don't want that. No, nothing. That's too much dirt. So, yeah.
• 7:43
  Speaker 1: So I got in the business, got back from a mission,
• 7:46
  Speaker 1: went right into selling cars. And my wife was a nurse.
• 7:49
  Speaker 1: She worked in the ER and moved to Idaho, sold
• 7:52
  Speaker 1: cars there, moved back down and worked in finance and
• 7:56
  Speaker 1: F & I, worked in the industry. At our Buick
• 7:59
  Speaker 1: Cadillac store, went to our Chevrolet store, ran a used
• 8:02
  Speaker 1: car operation, then a new car operation. Then eventually I
• 8:05
  Speaker 1: took over that store as the general manager in 2007
• 8:08
  Speaker 1: and 8. So really fun times. And our group was
• 8:14
  Speaker 1: really successful all through, you know, 4, 5, 6, 7.
• 8:18
  Speaker 1: And then the financial crisis hit. And then that was
• 8:21
  Speaker 1: an experience in and of itself. Did that answer that question?
• 8:25
  Speaker 1: Did I go too long? That's fantastic.
• 8:26
  Speaker 2: Yeah. Love it.
• 8:28
  Speaker 4: What about, you know, you've hit the 100-year milestone in 2024.
• 8:33
  Speaker 4: You know, what does that mean to you? And maybe
• 8:37
  Speaker 4: walk us through culture. I mean, obviously, to have a
• 8:41
  Speaker 4: business that long, there has to be strong culture, I
• 8:44
  Speaker 4: would think.
• 8:45
  Speaker 1: Absolutely.
• 8:46
  Speaker 2: So maybe walk us through that. You know, we just
• 8:50
  Speaker 2: hit 100 years just a few years ago, which is incredible.
• 8:53
  Speaker 2: And on us, a lot of that is, I mean,
• 8:56
  Speaker 2: that's legacy, right? And so- running a business that has
• 9:00
  Speaker 2: such a long legacy is a big deal. Culture is
• 9:03
  Speaker 2: super important to us. Um, we actually call it our
• 9:06
  Speaker 2: differentiator is our culture. Um, and it comes down to
• 9:09
  Speaker 2: this thing I have in my hand. It's a card
• 9:11
  Speaker 2: that has our, our mission and our values. Every one
• 9:15
  Speaker 2: of our employees has one of them. And it's actually
• 9:18
  Speaker 2: sometimes very annoying because if I'm out at, if I'm
• 9:21
  Speaker 2: out at dinner or something like people, our employees will
• 9:25
  Speaker 2: card check me like, Hey, do you have your card?
• 9:27
  Speaker 2: Because we regularly card check. That means we start every
• 9:30
  Speaker 2: single meeting by pulling out your card and then we
• 9:34
  Speaker 2: recite the mission statement. We ask everybody about the values
• 9:37
  Speaker 2: and then we go through stories that reflect that mission
• 9:41
  Speaker 2: and values. So as we take pride in delivering exceptional
• 9:44
  Speaker 2: customer experience while generating a fierce little following that loves
• 9:46
  Speaker 2: to think young.
• 9:47
  Speaker 3: Right.
• 9:47
  Speaker 2: So that's our mission statement. And so that just continual
• 9:51
  Speaker 2: reminder of who we are and what we stand for
• 9:53
  Speaker 2: and what we're regardless of position, what we're all driving
• 9:57
  Speaker 2: towards to deliver an exceptional customer experience. helps us generate
• 10:02
  Speaker 2: a differentiator in our market. And so it is really
• 10:06
  Speaker 2: important and we lean on the hundred years of past
• 10:10
  Speaker 2: to be able to create that.
• 10:11
  Speaker 1: Culture moving forward. And to put that, Oliver won't give
• 10:14
  Speaker 1: himself enough credit. Back then, When I was a general
• 10:18
  Speaker 1: manager of a store, we had five stores. So I
• 10:20
  Speaker 1: was a general manager, a guy named Kelly Moss was
• 10:22
  Speaker 1: general manager, then a couple other guys. And our group
• 10:25
  Speaker 1: was extremely siloed. Like I cared about my store, my salespeople,
• 10:28
  Speaker 1: my inventory and across the street that we owned, I
• 10:31
  Speaker 1: could care less about until Oliver came in, you know,
• 10:35
  Speaker 1: a couple of years into us taking over the group.
• 10:37
  Speaker 1: And this is where he introduced the culture card and saying, hey,
• 10:40
  Speaker 1: we've got to operate differently. We can't operate in this
• 10:44
  Speaker 1: siloed fashion and grow like we want to. So all
• 10:49
  Speaker 1: of her coming in and saying, hey, we've got to
• 10:50
  Speaker 1: change the way we work. And the main thing was
• 10:53
  Speaker 1: starting work together, rise together, having to share employees, having
• 10:57
  Speaker 1: to share inventory. And that was for the first two years,
• 10:59
  Speaker 1: I fought him to death on it. But thank goodness.
• 11:03
  Speaker 1: It was a thing.
• 11:04
  Speaker 2: I remember I was selling at Kia. I was a
• 11:06
  Speaker 2: sales guy at Kia. And Spence was the used car
• 11:08
  Speaker 2: manager at our Chevy store. And I had a customer
• 11:11
  Speaker 2: who was like, hey, I saw you have a Malibu
• 11:13
  Speaker 2: at Chevy. I'm like, let's go take a look at it.
• 11:15
  Speaker 2: So we drive up there and I roll in and
• 11:17
  Speaker 2: I'm like, hey, Spence, I want to show this customer
• 11:19
  Speaker 2: this Malibu. And he's like, go to hell. And I'm like, what?
• 11:24
  Speaker 3: What?
• 11:25
  Speaker 2: Right? That's not on the card. Because our, at the time,
• 11:30
  Speaker 2: it was, this is my inventory. These are my employees.
• 11:33
  Speaker 2: And if I sold it, Kia would get the sale
• 11:35
  Speaker 2: and not Chevy. But the person who's getting left out
• 11:38
  Speaker 2: was the customer. And so that's when we knew, hey,
• 11:42
  Speaker 2: we need to change things. We need to make sure
• 11:44
  Speaker 2: the number one priority is our customer. And so now
• 11:49
  Speaker 2: all of our salespeople at any of our stores can
• 11:52
  Speaker 2: sell any of our used cars. So now one guy
• 11:55
  Speaker 2: in Layton or Ogden or Montana has access to 1,200
• 12:00
  Speaker 2: used cars they can offer our customers instead of the
• 12:03
  Speaker 2: 50 that might be on their lot. And so it
• 12:05
  Speaker 2: gives them a competitive advantage in the market.
• 12:08
  Speaker 3: That's great. whole different element when you have family oh
• 12:13
  Speaker 3: totally telling you what's what versus just just someone.
• 12:19
  Speaker 2: Else it's always easy working with family.
• 12:22
  Speaker 3: Always always easy okay we're gonna we're gonna end that
• 12:25
  Speaker 3: so what we found is there's it's only about three
• 12:29
  Speaker 3: to five percent of dealerships in the country and i
• 12:33
  Speaker 3: don't even know if you can just limit it to
• 12:35
  Speaker 3: dealerships but can last four or five generations. I think
• 12:38
  Speaker 3: that's probably true for a lot of businesses, not just dealerships.
• 12:42
  Speaker 3: So what do you think allowed young automotive to last
• 12:46
  Speaker 3: through as many generations of your family as it has?
• 12:49
  Speaker 3: I mean, you said it was never a question. You
• 12:53
  Speaker 3: were always going to work for the family business. What
• 12:56
  Speaker 3: about you?
• 12:56
  Speaker 2: I was different. Did you know? I, so I, yes.
• 13:01
  Speaker 2: So like Spence, I grew up in the business. Like I,
• 13:04
  Speaker 2: so I, You know, I pulled weeds and then I
• 13:07
  Speaker 2: was actually going through the Davis Technical College doing ASC
• 13:10
  Speaker 2: certification as a technician, working in the lube pit at
• 13:13
  Speaker 2: our fast track location. And then I went into accounting
• 13:17
  Speaker 2: and I was like, I'm going to be accountant and
• 13:19
  Speaker 2: went through like receptionist, cashier, titling, bookkeeping, and then moved
• 13:25
  Speaker 2: into auditing. And then I realized auditing is the worst.
• 13:31
  Speaker 2: At that point, I was like, yeah.
• 13:35
  Speaker 3: We probably could have fast-tracked you.
• 13:37
  Speaker 2: To that thought earlier. During that time, I was getting
• 13:41
  Speaker 2: my degree. So I was in accounting and getting my
• 13:43
  Speaker 2: degree up at the U of U. And then when
• 13:45
  Speaker 2: I got my degree, I knew I needed to go sell.
• 13:48
  Speaker 2: It's just I have to go sell. So I went
• 13:50
  Speaker 2: and sold used cars. And then that's when I saw
• 13:52
  Speaker 2: an opportunity in marketing. That I was really drawn to
• 13:56
  Speaker 2: because marketing at that time was getting flipped on its head.
• 13:58
  Speaker 2: So this was like 2007, 8, 9. And social media
• 14:02
  Speaker 2: is coming out. And so old newspaper style marketing with
• 14:06
  Speaker 2: big TV buys, that kind of stuff. Now you're digital.
• 14:10
  Speaker 2: And so I started a little marketing company. I ran
• 14:12
  Speaker 2: that for a while. And I went and got my
• 14:15
  Speaker 2: master's at Westminster while I was starting that marketing company.
• 14:19
  Speaker 2: And when I finished my MBA, I really was like...
• 14:24
  Speaker 2: I need to decide whether I want to be in
• 14:25
  Speaker 2: the family company or go do my own thing. And
• 14:28
  Speaker 2: I actually had a conversation with my dad saying, hey,
• 14:30
  Speaker 2: I'm going to go out and I'm going to go
• 14:32
  Speaker 2: find some jobs and really find out what I want
• 14:34
  Speaker 2: to do. So I spent a few months just in
• 14:37
  Speaker 2: that recruiting pipeline, got a few different offers at a
• 14:40
  Speaker 2: couple of large different companies, some in automotive, some in
• 14:44
  Speaker 2: the different space. And then I just realized my main
• 14:48
  Speaker 2: mission is to help people build local jobs that mean something.
• 14:54
  Speaker 2: And so I was like, the best place I could
• 14:55
  Speaker 2: do that is in my own family company. So I'm
• 14:58
  Speaker 2: going to stay and be here to help grow careers.
• 15:02
  Speaker 2: And so it was a decision after that, that I
• 15:05
  Speaker 2: need to be where I'm at. And so since then
• 15:08
  Speaker 2: I've been.
• 15:09
  Speaker 1: Witness protection.
• 15:11
  Speaker 2: That or it's just witness protection. That's a great choice.
• 15:16
  Speaker 2: But yeah, so that's kind of my history.
• 15:18
  Speaker 1: Yeah.
• 15:19
  Speaker 3: That's incredible so but that shows forward thinking too there's
• 15:23
  Speaker 3: all sorts of different positions in there that family members
• 15:27
  Speaker 3: can contribute to so is that the secret what's the secret.
• 15:30
  Speaker 1: So yeah and we've heard that stat you know oh
• 15:33
  Speaker 1: three percent chance of survival when we hear that you're
• 15:35
  Speaker 1: like holy crap we're in the wrong business let's sell
• 15:37
  Speaker 1: but it is it's true in all businesses at the
• 15:40
  Speaker 1: fourth and and then my my daughters they're fifth generation
• 15:43
  Speaker 1: and they're involved my Are they? She's kicking butt. She's
• 15:47
  Speaker 1: crushing it. My youngest is managing a warehouse, driving a forklift,
• 15:52
  Speaker 1: and she's doing great too. But from a young age,
• 15:55
  Speaker 1: my dad, we had family councils. We talked about things.
• 16:00
  Speaker 1: So he made sure that we communicated, hey, we want
• 16:02
  Speaker 1: to keep this business intact. Here's the statistics on family
• 16:05
  Speaker 1: businesses going forward on multi-generational. So we were taught about that.
• 16:11
  Speaker 1: And so We'd always have quarterly family council meetings, talking
• 16:16
  Speaker 1: through that. And then we have cousins and an uncle
• 16:18
  Speaker 1: involved in the business as well. And so we've had
• 16:20
  Speaker 1: to navigate through some of those things. What I think
• 16:23
  Speaker 1: we've done a nice job of is identifying everybody has
• 16:26
  Speaker 1: their own certain talents or wheelhouse that they can affect
• 16:31
  Speaker 1: the business in a certain way. Oliver has his talents.
• 16:34
  Speaker 1: I have mine. My other brothers or sisters have theirs.
• 16:37
  Speaker 1: And so we've been able to find, I think, a
• 16:38
  Speaker 1: role that kind of helps everybody advance in the career
• 16:42
  Speaker 1: and help the business overall. So I think, I think
• 16:45
  Speaker 1: the communication early in our lives was important. And then
• 16:48
  Speaker 1: the just continued communication, knowing that, Hey, we're all just,
• 16:52
  Speaker 1: I'm the same as him. I might have a title,
• 16:54
  Speaker 1: but that doesn't mean anything. We're, we're, we're owners. We
• 16:57
  Speaker 1: will sweep, we'll pick up garbage. We'll sell cars. It
• 17:00
  Speaker 1: doesn't matter. There's, there's no free scholarships.
• 17:03
  Speaker 2: And, and really like generationally to like how Spence said,
• 17:07
  Speaker 2: as he was going through our history, there was kind
• 17:09
  Speaker 2: of a couple of resets, right? You had, That first
• 17:11
  Speaker 2: generation and then a reset to the second generation, then
• 17:15
  Speaker 2: a reset to the third generation. And now we're fourth
• 17:17
  Speaker 2: trying to, you know, put our mark on it. And
• 17:20
  Speaker 2: it is tough. Like it is not easy. It is
• 17:23
  Speaker 2: not for the faint of heart. And do we have
• 17:25
  Speaker 2: everything figured out? No. We're making this up as we go.
• 17:28
  Speaker 1: And if you think about it, if you talk to
• 17:30
  Speaker 1: all the big business people out there, these massive corporations,
• 17:33
  Speaker 1: you think, oh, they've got to have this instruction manual.
• 17:37
  Speaker 3: No.
• 17:38
  Speaker 1: Everybody's making it up as they go. Now we know
• 17:40
  Speaker 1: what we're doing. Yeah. but every day it's a pivot
• 17:42
  Speaker 1: and you got to adjust. And so just so you
• 17:45
  Speaker 1: guys know.
• 17:47
  Speaker 3: I love it.
• 17:47
  Speaker 4: You know, and as you talk about, you know, the pivoting,
• 17:51
  Speaker 4: you know, you, you've diversified, you know, over the years
• 17:54
  Speaker 4: and you've, you've experienced significant growth, you know, just looking
• 17:58
  Speaker 4: at not only the, the, the car sales, but also other,
• 18:02
  Speaker 4: other areas of, you know, trailers and power sports and walk,
• 18:05
  Speaker 4: walk us through what goes into those decisions in, in
• 18:09
  Speaker 4: diversifying what, What's helped you to make those decisions?
• 18:12
  Speaker 2: Yeah.
• 18:12
  Speaker 1: So like Oliver mentioned about like each generation has its
• 18:16
  Speaker 1: reset or, hey, here's a platform we've got to kind
• 18:18
  Speaker 1: of establish. So in 2008, the financial crisis, I was
• 18:23
  Speaker 1: general manager of a Chevrolet store. And we went through that.
• 18:26
  Speaker 1: And my dad was active in the business at the time. Oliver,
• 18:28
  Speaker 1: you were selling cars at the time. And that was tough.
• 18:32
  Speaker 1: All the banks drying up. They couldn't lend customers. They
• 18:36
  Speaker 1: were in a tough spot. In my neighborhood, there's multiple
• 18:39
  Speaker 1: houses that went into foreclosure, and so we're selling cars.
• 18:42
  Speaker 1: We're going, how is this going to work? So that
• 18:44
  Speaker 1: was a huge learning moment for us. At the time,
• 18:47
  Speaker 1: we had five stores, two GM stores, and a Chrysler
• 18:52
  Speaker 1: store and a Kia store that was losing money at
• 18:53
  Speaker 1: the time, and a used car store. So very small operation.
• 18:58
  Speaker 1: During that time, Chrysler and GM both went bankrupt. So
• 19:01
  Speaker 1: those were our franchises, and we're going, uh. So we
• 19:04
  Speaker 1: sat in the conference room, us, my dad, general managers,
• 19:08
  Speaker 1: and said, uh, what are we going to do? We
• 19:10
  Speaker 1: didn't know if we were going to receive cancellation letters
• 19:12
  Speaker 1: from General Motors or from Chrysler at the time. We didn't.
• 19:16
  Speaker 1: We never lost money, didn't lose franchises, but we had
• 19:19
  Speaker 1: to adjust our strategy coming out of that. Knowing that manufacturers,
• 19:23
  Speaker 1: each OEM is cyclical or can be. Some years GM's great,
• 19:28
  Speaker 1: Ford will be down or Toyota be great and Honda's
• 19:31
  Speaker 1: down or vice versa. So coming out of the financial crisis,
• 19:34
  Speaker 1: we knew being that the ones that we had were
• 19:37
  Speaker 1: bankrupt and then key at the time, was losing money.
• 19:40
  Speaker 1: We knew we had to diversify. So coming out of that,
• 19:43
  Speaker 1: we said, okay, we are going to go after all
• 19:46
  Speaker 1: the different franchises. So we're going to go after the
• 19:48
  Speaker 1: Fords at the time. We didn't have a We didn't
• 19:50
  Speaker 1: have Subaru. We didn't have Toyota, Honda, all those brands.
• 19:53
  Speaker 1: We're going to go after that to diversify that. But
• 19:56
  Speaker 1: also inside our own business vertically, we had some operations.
• 20:01
  Speaker 1: So we have a very large wholesale business. parts operation.
• 20:04
  Speaker 1: It's majority is collision. So if somebody gets in a wreck,
• 20:07
  Speaker 1: goes to a body shop, those people call and order
• 20:09
  Speaker 1: parts from us. When I was at the Chevrolet store,
• 20:12
  Speaker 1: we established a large wholesale parts operation for General Motors. Well,
• 20:16
  Speaker 1: as we bring on new franchises, it just vertically integrates
• 20:20
  Speaker 1: right into that operation. So today we have one of
• 20:23
  Speaker 1: the largest parts operations in the state and in the
• 20:27
  Speaker 1: country right now. It's very unique because we own all
• 20:30
  Speaker 1: the mass market brands in our market area, And so
• 20:33
  Speaker 1: everything's centralized to our warehouse there so we can deliver
• 20:37
  Speaker 1: to all the Western states quick and fulfill orders. So
• 20:40
  Speaker 1: that's one integration or vertical integration in the business. And
• 20:43
  Speaker 1: then also our fleet operations. So we have a very
• 20:46
  Speaker 1: large fleet, many years top 10 in the country in fleet. Oliver,
• 20:53
  Speaker 1: in fact, he runs the fleet team, does a fantastic job.
• 20:56
  Speaker 1: So anytime we bring another franchise, another brand on, it
• 20:59
  Speaker 1: adds to that to where we can offer our customers anything.
• 21:03
  Speaker 1: any brand or, or customers for parts. So body shop
• 21:07
  Speaker 1: and call, they can call and talk to one person
• 21:09
  Speaker 1: and get parts for all the different makes have one delivery,
• 21:13
  Speaker 1: one billing. So, so those are the things that we've
• 21:15
  Speaker 1: kind of strategically looked at as we were coming out
• 21:18
  Speaker 1: of the financial crisis saying, okay, how do we not
• 21:21
  Speaker 1: put end up in this situation again? And that's kind
• 21:24
  Speaker 1: of what we did to, to address it.
• 21:26
  Speaker 2: And, and really like all our growth has been centered
• 21:28
  Speaker 2: on our people for a lot of years. We didn't,
• 21:31
  Speaker 2: we didn't grow. We had five stores for ever long,
• 21:35
  Speaker 2: long time. And as we looked around, it was either
• 21:39
  Speaker 2: grow or those people would become our competition. Um, and
• 21:42
  Speaker 2: it's only right to give them the opportunity to succeed.
• 21:46
  Speaker 2: And so, you know, going back to our goal is
• 21:49
  Speaker 2: to create long local careers where people can have success
• 21:53
  Speaker 2: right here in Utah. And so by expanding and creating
• 21:57
  Speaker 2: little ecosystems, uh, In each market of a body shop,
• 22:02
  Speaker 2: a couple automotive stores, a power store, a truck and
• 22:05
  Speaker 2: trailer store, they feed off each other and create careers
• 22:09
  Speaker 2: where people can grow and have a successful local career.
• 22:13
  Speaker 1: So coming out of, just to kind of catch up,
• 22:16
  Speaker 1: so out of the financial crisis, we're going to diversify.
• 22:19
  Speaker 1: So we just started knocking doors. We're knocking dealers' doors,
• 22:22
  Speaker 1: and we became the succession plan for these dealers. My
• 22:25
  Speaker 1: dad's age, they're all aging out. Some have family in
• 22:28
  Speaker 1: the business, some don't. They don't know what to do.
• 22:31
  Speaker 1: It's easier to split cash. So we give them that
• 22:33
  Speaker 1: option of, Hey, we'll come in, pay you. We'll take
• 22:35
  Speaker 1: your family on. We'll take your employees on. And we've,
• 22:38
  Speaker 1: we've kept a lot of family or previous employees on
• 22:41
  Speaker 1: and stay still work for us today. Um, so we
• 22:44
  Speaker 1: had five stores, we knocked doors and, and really went
• 22:48
  Speaker 1: after it. And today we have 33. It's amazing. So
• 22:51
  Speaker 1: we've grown quite a bit. Now it wasn't every, we
• 22:54
  Speaker 1: talked to people and like, Holy crap, you grew so fast,
• 22:56
  Speaker 1: but really it wasn't, it was, it's 14 years of grind.
• 23:00
  Speaker 1: I mean, it's every day we're out there, but today
• 23:03
  Speaker 1: we have the 30, did I say 32? It kind
• 23:07
  Speaker 1: of fluctuates based off of the rooftops and the month.
• 23:11
  Speaker 1: So we also got into the power sports side of
• 23:14
  Speaker 1: the business. So 22, 23 auto stores, and then 10
• 23:18
  Speaker 1: power sports stores. And how we got into that business
• 23:22
  Speaker 1: is my father-in-law. So my wife, I've met her 30
• 23:25
  Speaker 1: years ago, Kevin Blair, he owned Newgate Honda and behind
• 23:28
  Speaker 1: the Newgate Mall in Ogden and then Layton Cycle in Layton.
• 23:32
  Speaker 1: And I thought I'd maybe have an opportunity of purchasing
• 23:35
  Speaker 1: those stores from him. And he was operating and he
• 23:38
  Speaker 1: ran them for 50 plus years. But in 2015, we
• 23:42
  Speaker 1: were in Burley, Idaho at a groundbreaking ceremony. And a
• 23:46
  Speaker 1: guy just randomly came up to me, Dave Lorette. I
• 23:48
  Speaker 1: can't remember. I remember his name. Came up to me
• 23:50
  Speaker 1: with a financial statement and said, hey, I want you
• 23:52
  Speaker 1: to buy my power sports store. What? I have a
• 23:54
  Speaker 1: shovel in my hand.
• 23:55
  Speaker 3: That's how it's done.
• 23:56
  Speaker 1: Yeah, why don't you buy my power sports store? Okay, well,
• 23:59
  Speaker 1: let's meet. I'll call you this next week. Sat down
• 24:02
  Speaker 1: with him, negotiated. We bought that power sports store up
• 24:04
  Speaker 1: in Burley. Very small operation, but looking back, it kind
• 24:08
  Speaker 1: of prepared us to get into the power sports business
• 24:11
  Speaker 1: down here in the real power sports business. So come 2019,
• 24:15
  Speaker 1: my father-in-law got to a point where he says, hey,
• 24:18
  Speaker 1: I'm looking at maybe retiring. He gave an option possibly
• 24:21
  Speaker 1: to have his employees buy him out. They couldn't figure
• 24:24
  Speaker 1: it out. So he says, hey, we could be the
• 24:26
  Speaker 1: succession plan. We'll bring on your employees. And so then
• 24:29
  Speaker 1: we bought him out in 2019. And then subsequent to that, 21, 22, 23,
• 24:35
  Speaker 1: we bought out some other operations. Our large one being
• 24:38
  Speaker 1: in Centerville. So if you drive to Centerville, it's right
• 24:43
  Speaker 1: off the freeway. It's 115,000 square feet. Huge building. We
• 24:45
  Speaker 1: have all the brands there. It's one of the coolest
• 24:48
  Speaker 1: things you'll ever see. But we see... You know, the
• 24:52
  Speaker 1: auto business, that's our core. It's a very good business.
• 24:54
  Speaker 1: And we feel like it'll be there for a long time.
• 24:57
  Speaker 1: Power sports has been a good business. Like I mentioned,
• 24:59
  Speaker 1: my father-in-law was in it forever, but people don't have
• 25:03
  Speaker 1: to have power sports, you know? So if times get tough,
• 25:06
  Speaker 1: that business can be tougher. So we've seen the cycles
• 25:10
  Speaker 1: with it. We've seen the really good during COVID. It
• 25:12
  Speaker 1: was awesome. But coming out of COVID, it's tougher. Margin
• 25:16
  Speaker 1: went down, inventories skyrocket up. But since then, we've kind
• 25:21
  Speaker 1: of gone through those changes with through COVID and all that.
• 25:24
  Speaker 1: And now the business is starting to come out and
• 25:26
  Speaker 1: really be good again, but it's been, it's been a grind,
• 25:30
  Speaker 1: you know? Yeah.
• 25:31
  Speaker 3: Driving down or up that way. I'm amazed because it's
• 25:37
  Speaker 3: young automotive, young, young, young, young everywhere as you're heading
• 25:41
  Speaker 3: that way to Centerville and is incredible. I don't get
• 25:44
  Speaker 3: up that way very often. And so I was impressed. Yeah.
• 25:48
  Speaker 2: So yeah, And when you walk through that PowerSports store,
• 25:51
  Speaker 2: you can see we're trying to do something very unique
• 25:53
  Speaker 2: in PowerSports. And what that means is most PowerSports stores
• 25:57
  Speaker 2: are just mom, pa, you know, very kind of localized.
• 26:03
  Speaker 2: And we're bringing more of a career and something. The
• 26:07
  Speaker 2: only way I can say is badass to what PowerSports means. Yeah.
• 26:12
  Speaker 1: The best comparison would be like the Cabela's or Bass
• 26:14
  Speaker 1: Pro shops of power sports.
• 26:15
  Speaker 2: Of that world.
• 26:16
  Speaker 1: And we want from the Canadian border, I-15, all the
• 26:21
  Speaker 1: way down the Mexican border, power sports stores, auto stores,
• 26:24
  Speaker 1: but then to identify with our water tower, if you
• 26:27
  Speaker 1: see the water tower with the YP logo, we want
• 26:30
  Speaker 1: to create, we're creating that now. It doesn't exist. That's incredible.
• 26:34
  Speaker 3: Just, you know, the question that's coming to my mind
• 26:37
  Speaker 3: is just like generations of just wisdom and experience is
• 26:43
  Speaker 3: being passed between you and your siblings and your parents
• 26:48
  Speaker 3: and your grandparents, what is some of the best advice?
• 26:53
  Speaker 3: My parents aren't here anymore, but I've got certain phrases
• 26:56
  Speaker 3: that go through my mind all the time when I
• 26:58
  Speaker 3: come into a tough situation or even a celebratory situation
• 27:01
  Speaker 3: where I'm like, I can hear their voice. What do
• 27:05
  Speaker 3: you hear? What is that sound advice that from people
• 27:09
  Speaker 3: that you've been learning from all these years, does something
• 27:12
  Speaker 3: come to mind that over and over?
• 27:14
  Speaker 2: So, and I'm not going to use a one-liner. And
• 27:16
  Speaker 2: I think you, you know, we talked about this on
• 27:18
  Speaker 2: the way down, is the advice that I got more
• 27:21
  Speaker 2: importantly is the importance of goal setting, right? I think
• 27:26
  Speaker 2: that's something that has been instilled across generations in our family.
• 27:30
  Speaker 2: And it's that importance of have a goal, create a plan,
• 27:35
  Speaker 2: follow that plan and execute. I think that's been what
• 27:39
  Speaker 2: I learned most from our generations of family learning.
• 27:44
  Speaker 1: Yeah, it's kind of weird because now as you grow
• 27:47
  Speaker 1: up or you get out of high school, you get
• 27:48
  Speaker 1: into the professional world and you just assume everybody just
• 27:51
  Speaker 1: was taught goals and how to set goals. And because
• 27:54
  Speaker 1: we sat down every quarter and you'd go through our
• 27:56
  Speaker 1: goals and be like, we failed or passed. And you assume,
• 28:00
  Speaker 1: oh yeah, everybody does this. And you come out, oh wait,
• 28:02
  Speaker 1: you don't? maybe that was child abuse, you know, if
• 28:06
  Speaker 1: you think about it. So just one thing that I
• 28:09
  Speaker 1: feel a lesson I learned was my dad years ago,
• 28:12
  Speaker 1: talked about him sitting in front of Wells Fargo and, and,
• 28:15
  Speaker 1: you know, like he's this new business person. He's taken
• 28:17
  Speaker 1: over the business at a young age. And, and they
• 28:19
  Speaker 1: asked him, Hey, what's, what do you think is the
• 28:21
  Speaker 1: most important? And he's like, I was sitting there. I'm
• 28:23
  Speaker 1: in the, I can't remember what they call the Commodore
• 28:26
  Speaker 1: room or something. The Wells Fargo building way back in
• 28:28
  Speaker 1: the day. It's nice lunch room or whatever. Anyway, they
• 28:32
  Speaker 1: asked him, Hey, what do you think it is? And
• 28:33
  Speaker 1: he's like, I was thinking I was all smart. And
• 28:35
  Speaker 1: I was like, you know, it's capital. It's having the
• 28:37
  Speaker 1: most capital. And he says, I was so wrong because
• 28:39
  Speaker 1: now over the years of business, it's one thing and
• 28:42
  Speaker 1: it's people. You can always come up with the capital.
• 28:44
  Speaker 1: We can always come up with ways to figure that
• 28:47
  Speaker 1: piece out, but we have to have the people. So
• 28:51
  Speaker 1: that has been beaten into my head since I was
• 28:53
  Speaker 1: a little kid. It is all about the people. And
• 28:56
  Speaker 1: it's crazy how when you get to see all the
• 28:59
  Speaker 1: operations we have, you can change one person, one leader,
• 29:02
  Speaker 1: And that store goes from losing money to making massive money.
• 29:06
  Speaker 1: One person. And I've seen it so many times. I mean,
• 29:09
  Speaker 1: just recently I've seen it. So it's that leadership, that
• 29:13
  Speaker 1: role is very important, if not the most important.
• 29:17
  Speaker 4: Spence, if you wouldn't mind, I wanted to hit on
• 29:20
  Speaker 4: that because you were made president in 2014. So you
• 29:25
  Speaker 4: mentioned earlier you were a GM and now president.
• 29:30
  Speaker 2: How is that role different?
• 29:32
  Speaker 1: Evolved for you?
• 29:33
  Speaker 2: What have you learned?
• 29:35
  Speaker 4: What are things that have made you a successful or
• 29:40
  Speaker 4: a leader that's different than the previous president.
• 29:43
  Speaker 2: Your dad?
• 29:43
  Speaker 1: Yeah. Ooh, I don't want to get in trouble. So
• 29:50
  Speaker 1: there's a couple things. And maybe a generational thing with
• 29:53
  Speaker 1: him was it was very adversarial or maybe contentious with
• 29:56
  Speaker 1: the OEMs, with the factory, and sometimes the banks as well.
• 30:00
  Speaker 1: And so I'd hear stories or I'd witnessed, he'd involved
• 30:03
  Speaker 1: me in these conversations, I'd hear that it was very contentious.
• 30:07
  Speaker 1: The manufacturer's always trying to get you or the bank's
• 30:09
  Speaker 1: trying to get after you or whatever it may be.
• 30:11
  Speaker 1: So I think the approach I took differently was, hey,
• 30:14
  Speaker 1: I'm going to befriend all the OEMs and I'm going
• 30:17
  Speaker 1: to befriend all the banks and create a large network.
• 30:19
  Speaker 1: Not saying my dad didn't because he had a fantastic network.
• 30:22
  Speaker 1: He taught us this. Of course. We've got to have,
• 30:24
  Speaker 1: we can only get to where we are with the
• 30:26
  Speaker 1: network we have. If you want to get bigger, you
• 30:27
  Speaker 1: have to have a larger network. So- I think me
• 30:31
  Speaker 1: and deliberately Oliver with our key guys of, hey, we're
• 30:34
  Speaker 1: going to create this large network of people that are
• 30:36
  Speaker 1: going to help support our business. So that was a
• 30:38
  Speaker 1: big change in difference than what he was like. When
• 30:44
  Speaker 1: we took over, he kind of stood up in front
• 30:46
  Speaker 1: of our exec team and says, hey, I have taken
• 30:49
  Speaker 1: the business to where I can take it. I feel
• 30:52
  Speaker 1: like I can't and it's time for me to hand
• 30:54
  Speaker 1: over the reins. And so he kind of gave us,
• 30:56
  Speaker 1: not kind of, he gave us autonomy and the authority
• 31:00
  Speaker 1: to run. So we were able to do things different
• 31:04
  Speaker 1: than what we had witnessed or watched him do.
• 31:07
  Speaker 2: And if I could say one thing, Spence, so like
• 31:10
  Speaker 2: the thing I've seen about you and you've been able
• 31:13
  Speaker 2: to put together more deals and grow the business faster
• 31:18
  Speaker 2: than any previous generation, because the It's his ability to
• 31:23
  Speaker 2: get in front and connect with somebody and then create
• 31:26
  Speaker 2: an atmosphere where you can actually negotiate around buying a business, right?
• 31:31
  Speaker 2: And so that is very, very hard to do, to
• 31:34
  Speaker 2: be able to connect deals. And for a long time,
• 31:37
  Speaker 2: I was out there knocking doors, trying to find opportunities.
• 31:41
  Speaker 2: And now we have so many opportunities, so many people
• 31:45
  Speaker 2: trying to sell us stuff that we don't knock doors
• 31:49
  Speaker 2: at all anymore. And that's because, Spence, your leadership has
• 31:54
  Speaker 2: opened a lot of those doors through that network, for sure.
• 31:57
  Speaker 2: That's one thing I could see on being on the side.
• 32:00
  Speaker 1: That's great.
• 32:01
  Speaker 2: Great comments.
• 32:01
  Speaker 3: So, Oliver, let's talk about you for a minute. You
• 32:05
  Speaker 3: became the chief sales officer, same year, 2014, and helped drive,
• 32:08
  Speaker 3: this is incredible, a 43% increase in sales along with
• 32:10
  Speaker 3: a 29% jump in revenue. So what... what changes did
• 32:20
  Speaker 3: you make?
• 32:21
  Speaker 2: So, you know, going like for a couple of different things,
• 32:24
  Speaker 2: number one, we bought some stores and that is always
• 32:28
  Speaker 2: very helpful, but that's also the same time that we
• 32:31
  Speaker 2: installed our values, our culture and getting to who we
• 32:36
  Speaker 2: are and establishing a more robust understanding around what makes
• 32:42
  Speaker 2: us different.
• 32:44
  Speaker 4: Right?
• 32:44
  Speaker 2: So because we have the culture and we're willing to
• 32:46
  Speaker 2: work between stores, we can compete in a different way. Right.
• 32:51
  Speaker 2: And so by us having this culture, now all of
• 32:55
  Speaker 2: a sudden everybody has a competitive advantage. And when we
• 32:57
  Speaker 2: talk to customers like, Oh no, of course you're going
• 32:59
  Speaker 2: to buy from us. Right. And so our employees have
• 33:01
  Speaker 2: a lot more confidence in who we are and we
• 33:04
  Speaker 2: were able to grow that. Not only that, we instituted
• 33:08
  Speaker 2: key indicators, right? Like we got really granular on what
• 33:13
  Speaker 2: drives the needle and, And what activities create the results
• 33:17
  Speaker 2: instead of just focusing on the results? And so we
• 33:20
  Speaker 2: really focused on, okay, what are the drivers of our business?
• 33:23
  Speaker 2: How do we focus on those and make sure they're
• 33:26
  Speaker 2: the most important? Because at the end of the day,
• 33:29
  Speaker 2: when we focus on those, those will create the results
• 33:31
  Speaker 2: that we're after. Yeah. So those would be the couple
• 33:34
  Speaker 2: of things.
• 33:34
  Speaker 3: You make it sound so easy.
• 33:36
  Speaker 1: I always make it sound easy.
• 33:37
  Speaker 2: Yeah, it sounds easy. And then four years down the road,
• 33:40
  Speaker 2: you're like, I'm still banging on this same thing. Key indicator.
• 33:44
  Speaker 1: But what Oliver did is with the culture and bringing
• 33:47
  Speaker 1: our group together. And I bought it. I did. This
• 33:50
  Speaker 1: is accurate. He's the reason why he brought the group together.
• 33:54
  Speaker 1: And that's the sales increases because of that.
• 33:56
  Speaker 3: Yeah.
• 33:56
  Speaker 1: You know, it gave our people more opportunity to sell
• 33:59
  Speaker 1: the customers or gave, I guess, opportunity for customers to buy.
• 34:03
  Speaker 1: But the other thing, approach Oliver, you changed that I
• 34:06
  Speaker 1: loved was marketing. Like when I was running a store,
• 34:08
  Speaker 1: the traditional marketing, like, oh, where's my mailer that's going to,
• 34:11
  Speaker 1: The customers come in and instantly come in and buy something, right?
• 34:14
  Speaker 1: Oliver's approach was different. He calls it a kaleidoscope marketing
• 34:17
  Speaker 1: approach where it's not just focusing on the call to action.
• 34:21
  Speaker 1: You're also focused on call to action, grassroots, events, in-store.
• 34:27
  Speaker 1: So it's a whole kaleidoscope and a different approach of marketing.
• 34:30
  Speaker 1: And once he started preaching that throughout the group, it's like, oh,
• 34:33
  Speaker 1: we are all marketers. It's not just the mail piece
• 34:36
  Speaker 1: going out. It's all of our employees internally speaking. asking
• 34:39
  Speaker 1: for referrals from family, from friends, from all of that.
• 34:43
  Speaker 1: And he coming into the group and kind of instilling
• 34:45
  Speaker 1: that culture of, we're not just looking at the mailer.
• 34:48
  Speaker 1: We're looking at all encompassing. How do we get friends, family,
• 34:52
  Speaker 1: and create the fiercely loyal follower? And that's that message
• 34:57
  Speaker 1: that drove that sales. And that's what's been driving that sales.
• 35:00
  Speaker 3: That's incredible. Yeah, I love that.
• 35:03
  Speaker 4: I'd like to shift gears on giving back. And I
• 35:06
  Speaker 4: think you've mentioned this previously, that this is a big
• 35:08
  Speaker 4: part of your culture. And maybe you can, you know,
• 35:11
  Speaker 4: elaborate on Young Caring for a Young Foundation and what,
• 35:15
  Speaker 4: you know, obviously there's some stats that have been highlighted
• 35:18
  Speaker 4: of just the incredible things you've accomplished over these years.
• 35:22
  Speaker 2: So walk us through that.
• 35:24
  Speaker 1: Okay, I'm going to have Oz do it. This is
• 35:26
  Speaker 1: Ozzy's brainchild.
• 35:27
  Speaker 2: So I'll let him talk about it. Yeah, so Young
• 35:29
  Speaker 2: Caring for a Young Foundation It's really interesting. There's two
• 35:33
  Speaker 2: different things and I'll bring up the business side of
• 35:36
  Speaker 2: it and then I'll bring up just the carrying side
• 35:38
  Speaker 2: of it because I think it's important to talk about both, right?
• 35:42
  Speaker 2: And so I'll talk about the business side first, even
• 35:45
  Speaker 2: though the carrying side is why we do it. The
• 35:47
  Speaker 2: business side, like a good example is when we started
• 35:50
  Speaker 2: marketing at Chevy and I was doing Oz marketing and
• 35:54
  Speaker 2: we would spend $ 10, 000 on these mailers and if we
• 35:56
  Speaker 2: got 100 people to show up, everybody was cheering, like stoked.
• 36:00
  Speaker 2: And I was like, okay, let me go and try
• 36:02
  Speaker 2: something different. I'm going to go to a school district
• 36:05
  Speaker 2: and I'm going to say, every time you bring in
• 36:07
  Speaker 2: this coloring page, I'll pay you five bucks. And let's
• 36:11
  Speaker 2: do that over the course of two weeks. And how
• 36:13
  Speaker 2: many coloring pages?
• 36:14
  Speaker 1: Thousands.
• 36:15
  Speaker 2: We got thousands, thousands of families rolling through our dealership saying,
• 36:19
  Speaker 2: here's my coloring page to where we had to turn
• 36:22
  Speaker 2: it off. Well, I was like, I can only give
• 36:24
  Speaker 2: you $ 10, 000.
• 36:25
  Speaker 3: Right.
• 36:26
  Speaker 2: And so it's flooded our stores with tons and tons
• 36:29
  Speaker 2: and tons of people. based on the relationship I have
• 36:32
  Speaker 2: with the school district, right? And so now, all of
• 36:35
  Speaker 2: a sudden, we go and give them a $ 10, 000 check,
• 36:38
  Speaker 2: and instead of going to a mail company out of Chicago,
• 36:42
  Speaker 2: I gave it to a school district, and the entire board,
• 36:45
  Speaker 2: school board's clapping for us. The only, what the Chicago
• 36:49
  Speaker 2: people do is just say, where's my next check, right?
• 36:53
  Speaker 2: And so we went from 100 people walking through the
• 36:55
  Speaker 2: door to thousands of people walking through the door because
• 36:59
  Speaker 2: of philanthropic endeavors. So if you haven't considered like making
• 37:03
  Speaker 2: a difference in your community through business purposes, you're missing out.
• 37:09
  Speaker 2: And that is still being business selfish. I am actually
• 37:13
  Speaker 2: trying to get people through my door to do business
• 37:15
  Speaker 2: with me and I'm utilizing networks that'll actually do good.
• 37:19
  Speaker 2: And I think everybody wins in it, right? Even though
• 37:22
  Speaker 2: it is a business side of things. And so there
• 37:26
  Speaker 2: is a case to where If you do business and
• 37:29
  Speaker 2: do good in your community, it's going to come back
• 37:32
  Speaker 2: to you. Because not only are you doing good and
• 37:35
  Speaker 2: people walk through your stores and say, these guys are
• 37:37
  Speaker 2: doing good, but your employees feel more connected to the business.
• 37:42
  Speaker 2: So that's kind of the business side. Now, if I
• 37:44
  Speaker 2: just go through the philanthropic side, right? We have four
• 37:48
  Speaker 2: pillars in what's young caring for our young. The first
• 37:51
  Speaker 2: one's called conquer hunger. That's where we try to feed children.
• 37:56
  Speaker 2: It really got rolling during COVID. I remember COVID was
• 38:01
  Speaker 2: happening and we've always done different things to do this,
• 38:05
  Speaker 2: but the food pantries just said, we're running out of food, man.
• 38:08
  Speaker 2: I got that call and I called Spence and instantly
• 38:11
  Speaker 2: Spence was like, what are we going to do? How
• 38:13
  Speaker 2: are we going to solve this? I said, what if
• 38:14
  Speaker 2: we did, remember the parades? So we did parades because
• 38:20
  Speaker 2: you couldn't have contact. So we couldn't ask people in
• 38:22
  Speaker 2: the streets and we'd say, So we sent a flyer
• 38:24
  Speaker 2: out saying the food pantries need it. All of our
• 38:26
  Speaker 2: employees will do parades through our local neighborhoods. If you
• 38:29
  Speaker 2: just leave your food on your side, and we all
• 38:33
  Speaker 2: had masks and gloves, and we'd go out and we'd
• 38:36
  Speaker 2: pick it up.
• 38:36
  Speaker 1: We're all in these motorcycles and power sports and making
• 38:39
  Speaker 1: this ruckus through these neighborhoods to pick up food on
• 38:41
  Speaker 1: these doorsteps.
• 38:41
  Speaker 2: And they're really cool. And it was right at the
• 38:43
  Speaker 2: first of COVID. And we ended up raising tons and
• 38:46
  Speaker 2: tons of food. And then we reached out to really
• 38:49
  Speaker 2: great partner bars at America First Credit Union. And we said, hey,
• 38:52
  Speaker 2: we need to also make sure that we feed kids
• 38:54
  Speaker 2: through pantry packs. And so we created this annual thing
• 38:59
  Speaker 2: where we're feeding about 25,000 to 30,000 children through our
• 39:04
  Speaker 2: pantry pack campaign where all of our stores and their
• 39:07
  Speaker 2: executive team, we all make a big push to feed
• 39:11
  Speaker 2: local kids. So that's Conquer Hunger. The second pillar is
• 39:14
  Speaker 2: called The Kind Fund. If there's any listeners... that don't
• 39:19
  Speaker 2: have the kind fund that downloaded, you need to download
• 39:21
  Speaker 2: this app. It is a kind fund. It's a terrible acronym.
• 39:25
  Speaker 2: Kids in need. Kind.
• 39:28
  Speaker 3: Okay.
• 39:30
  Speaker 2: Yeah so that's the kind of get it that's awesome
• 39:34
  Speaker 2: but it's uber eats but for a child in need
• 39:37
  Speaker 2: so if a teacher downloads the app and they see
• 39:40
  Speaker 2: a kid in school that is wearing the same clothes
• 39:43
  Speaker 2: over and over and over and over they used to
• 39:45
  Speaker 2: get in their own pocket and help them They can
• 39:47
  Speaker 2: now go to this app and they can submit for
• 39:49
  Speaker 2: that child. Then you as a volunteer with the app
• 39:53
  Speaker 2: can raise your hand to go help that kid. We
• 39:55
  Speaker 2: pair you with $ 150 gift card. And so then you
• 39:59
  Speaker 2: take the $ 150 gift card, go out to Walmart, Target,
• 40:02
  Speaker 2: wherever you shop, fulfill the request. You give it to
• 40:05
  Speaker 2: the school and it's all anonymous. School gives it to
• 40:08
  Speaker 2: the teacher, teacher gives it to the child. So the
• 40:10
  Speaker 2: teacher is still the hero in this situation. The child
• 40:14
  Speaker 2: gets served. When we first started this, we put 15
• 40:17
  Speaker 2: grand in a little kitty and we said, let's go
• 40:19
  Speaker 2: serve a hundred kids. That first year we ended up
• 40:23
  Speaker 2: serving 1200 children.
• 40:25
  Speaker 3: Wow.
• 40:26
  Speaker 2: We are a month away, maybe two months away from
• 40:29
  Speaker 2: serving 10,000 children. And it's only been going for three years.
• 40:34
  Speaker 2: I honestly have no idea how it's funding itself. People
• 40:38
  Speaker 2: just continue to come out of the woodwork and say,
• 40:41
  Speaker 2: how can I help these kids? We give our kids
• 40:44
  Speaker 2: to these teachers and trust their teachers. Why can't we
• 40:47
  Speaker 2: support them with $ 150? And it's honestly been a miracle
• 40:51
  Speaker 2: from God.
• 40:52
  Speaker 3: Wow.
• 40:55
  Speaker 2: God cares about these kids. And when teachers submit for them,
• 40:58
  Speaker 2: people take care of them. And so that's the second one.
• 41:01
  Speaker 2: So the Kind Fund. So if you don't have the app,
• 41:03
  Speaker 2: download it and go serve a kid.
• 41:04
  Speaker 3: We need to make sure that that's in our show notes.
• 41:06
  Speaker 2: Absolutely. Yeah. And then the third is we support educators by...
• 41:12
  Speaker 2: recognizing educators that are making a difference in school districts
• 41:15
  Speaker 2: by giving them cars. So we actually do one-year leases
• 41:19
  Speaker 2: and or gas and insurance. And then the last one
• 41:23
  Speaker 2: is taking care of homeless teens. There's a lot of
• 41:26
  Speaker 2: teen centers here in Utah and different ways to take
• 41:29
  Speaker 2: care of these homeless teens because they're going through hard times.
• 41:32
  Speaker 2: And so we do things like hygiene kits and get
• 41:36
  Speaker 2: them things that they need to help support them through
• 41:38
  Speaker 2: tough times. So those are the four pillars. And then
• 41:41
  Speaker 2: we actually have a program internally at the Young Automotive
• 41:44
  Speaker 2: Group where we take care of employees that are going
• 41:46
  Speaker 2: through one-time serious issues called the hardship grants to where
• 41:50
  Speaker 2: we can help our employees get over a hump of
• 41:53
  Speaker 2: something that's difficult. So that's a young caring for young
• 41:56
  Speaker 2: and how we try to engage and support, again, one
• 42:00
  Speaker 2: of our core values, how we engage and support the
• 42:03
  Speaker 2: communities that surround our stores.
• 42:05
  Speaker 3: That's incredible.
• 42:06
  Speaker 2: Thank you. Thank you for sharing that.
• 42:08
  Speaker 1: Thank you for all you're doing.
• 42:09
  Speaker 3: That's amazing. That is amazing. I love your tagline, think young.
• 42:13
  Speaker 3: I think so many ways that that makes sense. And
• 42:17
  Speaker 3: it touches my heart when I, just a little bit
• 42:20
  Speaker 3: that I know and the more I'm learning today, I
• 42:22
  Speaker 3: just think, wow, that's, I love that so much. Tell me,
• 42:25
  Speaker 3: I mean, early on, we started talking about Morgan, Utah.
• 42:30
  Speaker 3: This is where it started. Then we went to Layton,
• 42:32
  Speaker 3: not Layton, Layton.
• 42:34
  Speaker 1: Layton, saying the T, got it.
• 42:37
  Speaker 3: But tell me what you think. Being based in Utah
• 42:41
  Speaker 3: or founded in Utah, how has that impacted, changed, or
• 42:46
  Speaker 3: influenced your business overall? I mean, do you think if
• 42:50
  Speaker 3: you were in another state, if you'd be doing the
• 42:53
  Speaker 3: same thing?
• 42:53
  Speaker 2: Yeah.
• 42:54
  Speaker 1: And we do business in three states. We're in Montana, Idaho,
• 42:57
  Speaker 1: and Utah, but primarily Utah. And Utah is a unique state.
• 43:01
  Speaker 1: We talked about this, and there's a really good entrepreneurial
• 43:07
  Speaker 1: business culture or network of people. I look at Paul
• 43:12
  Speaker 1: and many people in the state. So we feel like
• 43:17
  Speaker 1: we're an advantage. We feel like we're in a state
• 43:20
  Speaker 1: that's on the cutting edge of business and of producing
• 43:25
  Speaker 1: good businesses, good people, you know, doing it the right way.
• 43:29
  Speaker 1: So we just feel that, yeah, we're in a unique
• 43:32
  Speaker 1: spot in Utah with just the culture that we find
• 43:35
  Speaker 1: ourselves in with our network.
• 43:37
  Speaker 2: And you've got a lot of people that are that
• 43:40
  Speaker 2: are good operators like, and that care and that want
• 43:43
  Speaker 2: to make a difference and a great talent pool. You know,
• 43:46
  Speaker 2: I think, I think Utah, we have a great talent
• 43:50
  Speaker 2: pool to pull from and we can do really exciting things.
• 43:53
  Speaker 2: So we're, we find ourselves lucky to be in Utah.
• 43:55
  Speaker 1: I have some friends across the country that are in
• 43:57
  Speaker 1: different States and they, they own cardio ships in different
• 44:00
  Speaker 1: States and talking to them and, you know, some in
• 44:02
  Speaker 1: Iowa or wherever. And they're like, it just feels like
• 44:05
  Speaker 1: there's no progression, but you come to Utah and, And
• 44:08
  Speaker 1: if you look from five years ago or 10 years ago,
• 44:11
  Speaker 1: you come down to Lehigh, you don't even recognize the place.
• 44:14
  Speaker 1: So that in itself, I mean, it's always changing. So
• 44:18
  Speaker 1: we're in a good environment.
• 44:19
  Speaker 2: Yeah, I love that.
• 44:21
  Speaker 4: I'd also be curious how AI or innovation has affected
• 44:26
  Speaker 4: your business. Certainly there's a lot of buzz on AI
• 44:30
  Speaker 4: and what that's doing to transform a lot of most businesses, frankly.
• 44:35
  Speaker 4: I mean, we've had a lot of good discussions on
• 44:37
  Speaker 4: this podcast. Give us your thoughts on... Well, the good
• 44:41
  Speaker 4: thing is we got it figured out.
• 44:42
  Speaker 2: Yeah, that's good.
• 44:43
  Speaker 1: I mean, this is perfect.
• 44:45
  Speaker 2: Right? It's great. Just insert AI and it's figured out. No,
• 44:51
  Speaker 2: you know, just like any industry, AI is going to
• 44:55
  Speaker 2: disrupt so many different things, but the opportunities are limitless
• 45:00
  Speaker 2: as well. And that's what I think is really important,
• 45:03
  Speaker 2: you know, when there is turbulence, everybody has to change,
• 45:07
  Speaker 2: which means there's opportunity. And so we see a lot
• 45:12
  Speaker 2: of opportunity with AI and getting it into our business,
• 45:15
  Speaker 2: but we also see a lot of opportunity in keeping
• 45:19
  Speaker 2: the human element that people are desperate for right now, right?
• 45:23
  Speaker 2: So yes, we want to lean into finding ways to
• 45:28
  Speaker 2: incorporate the AI, but where are we going to ditch
• 45:32
  Speaker 2: that and say, no, this is the human element that
• 45:36
  Speaker 2: people are craving for. And so I think that it's
• 45:40
  Speaker 2: finding that balance as well.
• 45:42
  Speaker 1: I love that. It is exciting though. Having AI and
• 45:45
  Speaker 1: the projects and the hours and hours of things we
• 45:48
  Speaker 1: would have to do to prep for acquisitions or sales
• 45:51
  Speaker 1: or anything, now it's within a matter of minutes. So
• 45:54
  Speaker 1: now combing through data, combing through bank contracts and things
• 45:58
  Speaker 1: like that, it's so much better now. So I think
• 46:01
  Speaker 1: it's going to be a great impact. I think production's
• 46:04
  Speaker 1: going to go through the roof. And then Oliver, like
• 46:06
  Speaker 1: you said, it has allowed us to look at and go,
• 46:09
  Speaker 1: you know what? We've got to provide the best experience,
• 46:13
  Speaker 1: human to human experience. So like you go to a
• 46:14
  Speaker 1: power sports store, my wife and I go there every
• 46:17
  Speaker 1: Saturday because there's, there's this energy where you feel you
• 46:20
  Speaker 1: go in there. There's people, they're excited. They're smiling. They're happy,
• 46:24
  Speaker 1: not just our employees, but the customers. And so I
• 46:27
  Speaker 1: think a lot of people, especially from COVID and Now
• 46:29
  Speaker 1: they're craving the human-to-human connection in doing business. I think
• 46:33
  Speaker 1: that's coming back.
• 46:35
  Speaker 2: That's a great response.
• 46:37
  Speaker 3: So 100 years, looking ahead, what's the next 100 years
• 46:41
  Speaker 3: look like for Young Automotive? And how can our listeners
• 46:45
  Speaker 3: be part of that?
• 46:47
  Speaker 1: Well, number one, you can always come buy a car
• 46:48
  Speaker 1: from us. Car, car, service.
• 46:52
  Speaker 3: If you say so.
• 46:53
  Speaker 2: Trailer, tractor, tractor.
• 46:57
  Speaker 1: The next 100 years. So we have been approached multiple
• 47:01
  Speaker 1: times in 2019. And then during COVID, we could have
• 47:05
  Speaker 1: sold for a large amount of money. But my dad
• 47:11
  Speaker 1: and my uncle approached us to say, what do you
• 47:13
  Speaker 1: guys want to do? And we could have cashed out
• 47:17
  Speaker 1: and just retired and been done. But after 2019, Thinking
• 47:21
  Speaker 1: and through it and looking at all of our people.
• 47:23
  Speaker 1: And we have a good core group of people that
• 47:25
  Speaker 1: we all sold cars together, ran stores together. We're going,
• 47:27
  Speaker 1: you know what? That's not us. We want to continue
• 47:29
  Speaker 1: to be in business. We want to continue to be
• 47:31
  Speaker 1: in business for another hundred years. And so we passed
• 47:34
  Speaker 1: it up and we said, we're going to roll the
• 47:35
  Speaker 1: dice and we're going to keep going forward. We think
• 47:38
  Speaker 1: that the business is going to continue to be very strong.
• 47:42
  Speaker 1: I believe, and I'm certain the next three to four
• 47:45
  Speaker 1: years will be the best we've seen. You can feel it.
• 47:48
  Speaker 1: You can see it. And we're just excited to be
• 47:51
  Speaker 1: able to impact the community, create opportunities. And we talk
• 47:55
  Speaker 1: about this in the exec team. Now, what drives us today?
• 47:58
  Speaker 1: And it is straight up providing opportunities for our people.
• 48:01
  Speaker 1: It's amazing to see guys that started as lot technicians.
• 48:04
  Speaker 1: Now they're running stores, making wages that a doctor makes.
• 48:08
  Speaker 1: You know, like me, I don't have a college degree.
• 48:12
  Speaker 1: I have a PhD. Pop has the dealership, you know.
• 48:16
  Speaker 1: And that's the PhD I got. And it worked, I guess. So,
• 48:20
  Speaker 1: but we're taking people, and Oliver's a lot smarter than
• 48:22
  Speaker 1: I am, but we're taking people without degrees and providing
• 48:25
  Speaker 1: this opportunity to create careers for a lifetime.
• 48:29
  Speaker 2: Yeah, and, you know, talk about 100 years. You know,
• 48:32
  Speaker 2: we want, you know, we were talking about power sports
• 48:34
  Speaker 2: and the Cabela's. We want to make sure the best
• 48:37
  Speaker 2: riding in the country as a power sports dealer is
• 48:42
  Speaker 2: the Intermountain West. There is no better place to ride
• 48:45
  Speaker 2: a motorcycle, a side-by-side, anything of that nature than the
• 48:50
  Speaker 2: Intermountain West. So we want to own that whole entire
• 48:53
  Speaker 2: corridor because of the joy it brings so many people
• 48:57
  Speaker 2: to be out riding on a power sport. So that's
• 49:00
  Speaker 2: that business. On the automotive side, we want to make
• 49:04
  Speaker 2: sure that we build out markets that have three to
• 49:07
  Speaker 2: five stores with body shops. Our upfitting business is a
• 49:11
  Speaker 2: really fast upcoming business where we can service local businesses
• 49:16
  Speaker 2: and their fleets. but also municipalities. We do a ton
• 49:20
  Speaker 2: of work with, we actually build most of UDOT's snowplows now.
• 49:24
  Speaker 3: Interesting.
• 49:24
  Speaker 2: So like interesting kind of lines of stuff. And so
• 49:28
  Speaker 2: we want to make sure that we're there to help them.
• 49:30
  Speaker 2: You know, a lot of people are like, well, you're
• 49:31
  Speaker 2: in the car business and EVs are going to take over.
• 49:34
  Speaker 2: And I'm like, we sell EVs. We sell transportation. We
• 49:38
  Speaker 2: get you from point A to point B and help
• 49:41
  Speaker 2: you think young while you're doing it all. And so
• 49:44
  Speaker 2: building out in the different markets we're at, having a
• 49:47
  Speaker 2: few different stores so we can leverage the marketing and
• 49:50
  Speaker 2: also the different brands that we have is the next
• 49:52
  Speaker 2: hundred years. And we see a lot of exciting growth
• 49:56
  Speaker 2: and they can get involved by coming and working with
• 49:58
  Speaker 2: us and making the dream happen.
• 49:59
  Speaker 4: You know, we've recognized, the Mountain West Capital Network has
• 50:03
  Speaker 4: recognized Young Automotive for a number of years.
• 50:05
  Speaker 2: So what maybe.
• 50:07
  Speaker 3: This is their ninth year being recognized. Incredible.
• 50:10
  Speaker 4: Congratulations.
• 50:11
  Speaker 3: Thank you.
• 50:12
  Speaker 4: What has that meant to you?
• 50:15
  Speaker 1: To be recognized, it's an honor. It really is. I mean,
• 50:18
  Speaker 1: and I know a lot of people within your network
• 50:21
  Speaker 1: and your group and just to be recognized and almost
• 50:24
  Speaker 1: feels like we're validated.
• 50:25
  Speaker 2: In a sense.
• 50:27
  Speaker 1: We kind of know what we're doing. You know what
• 50:29
  Speaker 1: I mean?
• 50:29
  Speaker 2: Yeah.
• 50:30
  Speaker 4: Absolutely.
• 50:31
  Speaker 2: And oftentimes you kind of go to work and you're
• 50:34
  Speaker 2: hammering it out and you're doing what you're doing. And
• 50:37
  Speaker 2: then you look up and you're like, oh, oh, yeah,
• 50:39
  Speaker 2: we have built something awesome. Look at that. We're one
• 50:42
  Speaker 2: of the top in the revenue. Yeah. Right. And, you know,
• 50:45
  Speaker 2: after years of banging your head against, you know, creating
• 50:49
  Speaker 2: a fleet team that sells thousands and thousands of cars
• 50:52
  Speaker 2: and balancing the cash and how do you make it
• 50:55
  Speaker 2: all flow? And then all of a sudden they say, hey,
• 50:58
  Speaker 2: we're at the top. Oh. I didn't even know we
• 51:01
  Speaker 2: were there. And so it's so validating, like Spence is saying,
• 51:04
  Speaker 2: and it is truly an honor to be on that
• 51:06
  Speaker 2: list for sure with all the amazing companies that are
• 51:09
  Speaker 2: on there.
• 51:10
  Speaker 3: Well, we sure love celebrating with you. Spence and Oliver,
• 51:13
  Speaker 3: we want to thank you for joining us today and
• 51:15
  Speaker 3: sharing your family story that has shaped such a wonderful
• 51:18
  Speaker 3: and meaningful business, not just automotive, but just lifestyle in
• 51:23
  Speaker 3: our state. Your background of service and hard work is inspiring.
• 51:27
  Speaker 3: To us all. We are proud to highlight your work
• 51:30
  Speaker 3: here at Mountain West Capital Network.
• 51:32
  Speaker 4: And for our listeners who want to learn more, where
• 51:34
  Speaker 4: can they find and connect with you?
• 51:36
  Speaker 2: Youngautomotive.com.
• 51:38
  Speaker 1: That's the best place. I'll give all of her cell phones.
• 51:41
  Speaker 1: They don't want them.
• 51:44
  Speaker 2: Cut that. Cut that one. Please don't. No text.
• 51:49
  Speaker 3: And to everyone listening, thank you for joining us. A
• 51:51
  Speaker 3: special thanks to the LaunchPod team, Johnny, Christine, Cole, and
• 51:55
  Speaker 3: Rachel for producing our show. Zachary Reed for his vision
• 51:58
  Speaker 3: and direction as producer, Katie Brown, operations specialist for keeping
• 52:02
  Speaker 3: us in line and on track, and Garrett Lawson and
• 52:06
  Speaker 3: Kevin Jessup for serving as our MWCN podcast chairs.
• 52:10
  Speaker 4: Don't forget to leave us a five-star review and subscribe
• 52:12
  Speaker 4: to stay updated as Utah's fastest-growing companies and leaders shaping
• 52:17
  Speaker 4: our business future. There is nothing we appreciate more than
• 52:20
  Speaker 4: hearing from our listeners. Rate, review, and share.
• 52:23
  Speaker 3: Welcome to the Winner's Circle.
• 52:29
  Speaker 4: Thank you.