A Car Dealership Success Story
JM Family Enterprises, Inc. had its beginning when founder Jim Moran bought Sinclair gas station in Chicago, Illinois for $360 in 1939. The gas station business was not what propelled the future company. It was in car dealership aptly naming his relocated (to Hudson) dealership Courtesy Motors in 1948.
In 1965 Courtesy Ford opened in Chicago and within 30 days became the largest Ford dealership in the world. In 1968 Moran opened Pontiac City in Homestead, Florida. Also in that year was the monumental agreement and the start of the future company; the distributor agreement with Toyota Motor Corporation to serve the five Southeastern states-Florida, Georgia, Alabama, North Carolina, and South Carolina. Southeast Toyota Distributors (SET) was established to distribute Toyota vehicles to independent dealers in the five states.
Toyota’s success has also been the success of what is now JM Family Enterprises a diversified automotive company. It has its headquarters in Deerfield Beach, Florida and is one of the largest privately held companies in the U.S.
The company is the world’s largest independent distributor of Toyotas and Scions. It is the world’s largest volume Lexus dealership. JM Family Enterprises is a diversified financial services company and one of the largest providers of finance and insurance products in the industry. It has around 3,800 associates with revenues of $8.9 billion in 2011.
It is an extremely successful company by any measure.