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George Manooshian felt a strong pull to diversify his business, high-end used auto sales, in the heart of the recession.
And while that's reasonable advice, Manooshian nonetheless stuck to what worked, and what built Encore Motorcars of Sarasota into a $30 million business. That meant a variety of cars for sale, with special attention to customer service. He withstood the lure to expand into new markets and find new business outside the firm's core.
The laser-like focus has been a key survival tactic. Sales are up 17% this year amid an overall auto industry comeback. “We tell everyone not to get distracted on anything other than the most important thing to do,” says Manooshian, who bought sole ownership of Encore in 2010. “Some businesses try to go in too many different directions. Sometimes those things are intriguing, but we don't want to complicate things.”
Encore, with a 14,000-square-foot showroom and maintenance facility on U.S. 41, sells everything from Bentleys and Mercedes to Hyundais and Chevrolets. Prices range from $5,000 to more than $100,000.
Another key to Encore's survival, Manooshian tells Coffee Talk, is he's big on autonomy for the sales staff. He says they are essentially their own CEOs, responsible for building a book of business. “I don't micromanage,” Manooshian says. “I expect my staff to do what they need to do.”
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