Jim Lehman, 50, a
longtime classic car enthusiast, is opening his first Honest-1 Auto Care
location with hopes that his sons will want to follow in his footsteps.
During the summer
of 1980, right around his 18th birthday, Lehman took some money he was saving
and invested it in the stock market. He left it there while he attended Ursinus
College as an Applied Mathematics and Economics major with a minor in Computer
Science. When Lehman graduated in 1985, he realized the money he had put into
the stock market grew a lot faster than he expected. At that moment, he was
inspired to go into finances and investing.
Lucky for Lehman, he
found the Vanguard Group, a local investing firm of about 500 people, where he
started as a phone representative. Lehman stayed with the company for 27 years,
working his way up to principal, and doing his part to help Vanguard become a
world-class financial service company with $2.5 trillion in assets and over 10,000
employees in the Philadelphia area.
As his 50th
birthday approached, Lehman decided it was time for a career change. “I have
always had an entrepreneurial spirit,” he said. “I am a risk taker and I wanted
to do something on my own. I thought that leveraging my business experience, my
passion for cars, and desire to start my own company was a perfect fit for Honest-1.”
How did you learn
about the Honest-1?
I have always been an avid classic car lover. My parents helped
me buy a 1972 Firebird to fix up after high school to keep me out of trouble
until I left for college. They thought it would take me months to get it up and
running because the engine was bad, but within two weeks, I had it all fixed-up
and ready to go. That’s when I developed a love for cars. But, I always made college
and a career a priority.
As I approached 50, I had to decide what to do with the
next 10-15 years of my life. I looked around for automotive companies and found
Honest-1. They shared my morals and ethics, including being eco-friendly,
starting long-term relationships with clients and providing good value and an
upscale feel. I thought the auto industry could really benefit from those values.
Why did you choose
an opportunity with Honest-1?
Honest-1 has a lot of the same characteristics as the Vanguard
Group, the company where I started in 1985. I was attracted to Vanguard early
on because of their strong ethics, reasonable costs, and positive treatment of
employees and customers. I think that those three qualities (ethics, honesty,
and integrity) apply to Honest-1 as well. After working for Vanguard as a phone
representative, I also realized that I loved people and working with customers.
I chose to pursue Honest-1 because of the great people
there and the opportunity to get in on the ground floor being the first shop in
Pennsylvania. I liked the branding and the flexibility that the company
provided, especially knowing that I could tailor it to the region and the
market. I heard a lot of people complaining about their mechanics and not knowing
who to trust or where to go. I want to open this Honest-1, knowing that I could
give people a great value and amazing customer service.
What challenges
have you overcome to get where you are now?
Opening a franchise requires a bit of a risk-taking
attitude. For example, I had worked for the same company for a long time and had
stability there, but knew I wanted to do something else. From a financial
standpoint, I tried to invest well, plan ahead for the unknown, and mitigate
risk along the way. The other big challenge was finding the right people to
work with me to get the business up and running. Luckily, I have a lot of good
friends who have helped at all the critical junctures.
What are your
expansion or development plans? What is your end goal with Honest-1
Generally speaking, I would love to see more Honest-1
locations across Pennsylvania, particularly in Chester County. Customers would
be well served with an expansion of our service area, but, I want my current
location to be at its best before I expand. I already have a lot of people
knocking at my door asking me if they can get in on the business, and I have
investors that have already expressed interest in me opening another location.
In the future, I would love for my two sons to get involved with the business.
I want to be able to pass it along.
What are some of
the publications you read? Local? National? What is your goal publication with
your business?
I am an avid reader
and have always enjoyed reading financial and business publications like the
Wall Street Journal, the Economist, Fortune, Kiplinger’s and Money Magazine, as
well as my plethora of car magazines. One of my favorites is Muscle Machines by
Hemmings Motor News – it’s usually a race between my son Mike and I as to
who’ll get to it first. Car and Driver is another that’s well read by the
family.
Do you have any
interesting hobbies or passions?
I spend a lot of time with my family—my wife, Beth, and
my two sons, Michael and Christopher. We like adventures and spending time in
the finger lakes of New York. I like anything outdoors such as road biking,
kayaking, skiing and boating. Of course, I still love fixing up classic
cars—right now, I’m working on a couple of Pontiacs and my wife’s Porsche
though the business seems to be my biggest hobby right now. I am also a bit of
a history buff and love reading about the revolutionary war, and the early history
of the United States. There’s so much rich history right here in Chester County
it’s hard not to be!
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