Printer Friendly
The Free Library
14,794,322 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

A brand-new game: Hank Aaron sells all but one of his auto dealerships but expands food franchise.


After seven years in business, Hank L. Aaron Sr., CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of the Hank Aaron Automotive Group (No. 15 on the BE AUTO DEALERS 100 list with $136.7 million in sales), is getting out of the car dealership This article is about car dealerships. For the indie pop band, see Dealership (band).

A car dealership or vehicle local distribution is a business that sells new cars and/or used cars at the retail level, based on a dealership contract with an automaker or
 game.

Recently, Aaron sold four of his five dealerships, including BMW BMW
 in full Bayerische Motoren Werke AG

German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s.
 and Mini Cooper in Union City, Georgia
For other places with this name, see Union City.


Union City is a city in Fulton County, Georgia, United States. The population was 11,621 at the 2000 census.
, and Honda and Hyundai in Griffin, Georgia Griffin is a city in Spalding County, Georgia, United States. The population was 23,451 at the 2000 census. The city is the county seat of Spalding CountyGR6. , to the Sons Automotive Group, a fourth-generation auto dealer in Atlanta. "He is trying to simplify some of his business life," said Allan Tanenbaum, Aaron's long-time business adviser, in a previous interview. "While he never views himself as retiring, he wants to enjoy the good graces that God has given him."

Aaron, known as a hands-on boss, retains the lone dealership, Toyota in McDonough, Georgia McDonough is a city in Henry County, Georgia, United States. The population was 8,493 at the 2000 census. Census Estimates of 2005 indicate a population of 15,523. This is due both in part to growth of the city and extension of the city limits. . However, sources say he will probably divest of that dealership in the near future. In addition, he recently sold the Jaguar and Land Rover See LANRover.  outlets in Augusta.

Even so, Aaron intends to keep, and possibly expand, a network of 14 fast-food franchises, which are housed under 755 Restaurant Corp. They include Church's, Popeye's, and Krispy Kreme restaurants, worth some $19 million in sales in 2006. "We are growing; we have no plans to sell," explains Victor Haydel, the president of 755 Restaurant Corp. and Aaron's son-in-law.

"We will definitely keep what we have and diversify into other businesses. Right now, we're looking at other food concepts as well as businesses outside of food," Haydel says. All of the franchises are based in Georgia, and there are plans underway to break ground on a 15th location.

At press time, Aaron was not available for comment, but when we last spoke to him (see "Power Hitter," June 2004) he alluded that he wouldn't be in the auto business forever: "I don't see myself, at my age, getting too deeply involved in more businesses," he said.

"He proved [his business prowess] quickly," says Sid Barron, general sales manager of Braman Porsche Palm Beach in Florida and former vice president and general manager of Hank Aaron Jaguar Land Rover Augusta. "what he did was open doors for more minorities and he put himself on the radar screen with high-end, income-earning African Americans to have them invest in the car business as a viable business opportunity."
COPYRIGHT 2007 Earl G. Graves Publishing Co., Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:B.E. 100s
Author:Sykes, Tanisha A.
Publication:Black Enterprise
Date:Apr 1, 2007
Words:379
Previous Article:Barack Obama for president? White House hopeful's biggest challenge will be introducing himself to Americans.(WASHINGTON REPORT)
Next Article:Madison Research sold.(B.E. 100s)
Topics:



Related Articles
Coming on strong: with the economy on the upswing, the B.E. 100s broke the $10 billion barrier and got back into the business if job creation. (1993...
Hank Aaron goes to bat for BMW.(former baseball player becomes a BMW franchise owner)(Brief Article)
The Loaded Sticker Price.(African American car dealer Mel Farr Automotive Group)
Dealer sells abruptly.(Carl Barnett sells Houston, Texas, auto dealerships)(Brief Article)
B.E. 100s Switching Lanes.(management of African-American-owned dealerships during economic slump)
B.E. 100s Neighborhood Improvement.(African American business enterprises and executives)
Steering toward profits; one of this year's automotive growth leaders, Winston R. Pittman Sr., found the right formula for success: a mix of domestic...
The new frontier: auto dealers are rethinking the way they do business and finding new solutions to old challenges.(B.E. Auto Industry...
Fighting to win: 34th annual report on the nation's largest black-owned business.(B.E.100S)(Black Enterprise)
Auto dealer eligibility.(B.E. 100S: AUTO DEALERS)(Table)

Terms of use | Copyright © 2010 Farlex, Inc. | Feedback | For webmasters | Submit articles