THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Monday, July 4, 1994 TAG: 9407050256
SECTION: BUSINESS WEEKLY PAGE: 4 EDITION: FINAL
SOURCE: BY GAGE HARTER, BUSINESS WEEKLY STAFF
LENGTH: Long : 132 lines
Ed Snyder has been selling since he was a kid. And for the last 30 years he has built up a network of auto dealerships in Hampton Roads that have earned him awards, satisfaction and, perhaps above all, fierce loyalty.
During the dog days of summer when most kids frolicked at the beach, camp or in the city streets, Edward Brown Snyder sold lemonade from his corner stand.
To him, making money was fun.
Back in the 1960s, before Toyota and Honda were household names and the public couldn't imagine buying a foreign car, Snyder gambled and invested in imports. He counted on performance, resale value and mileage overcoming the public's nationalism.
His gamble, Checkered Flag Motor Car Co. Inc., has paid off, in spades. The dealership has evolved into eight new-car franchises, an in-house advertising agency and several rental and used-car dealerships that employ more than 350 people.
Today, with the Virginia Marine Science Museum in Virginia Beach needing $5 million for new exhibits, Snyder is donating his time to accomplishing that task.
Foresight. Courage. Generosity.
Three good qualities for a king.
That's probably what the Virginia Beach Neptune Festival organizers thought when they named him King Neptune in 1992.
``Ed Snyder would have been a kindly king in medieval times,'' said Virginia Marine Science Museum director Mac Rawls. ``He would be successful in war because he would have built a strong alliance.''
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Checkered Flag celebrates its 30th anniversary this year, and more than 15 of Snyder's original employees are still with him, a testimony to his loyal following.
``That is a sign of success when both customers and employees are loyal to you,'' said J. Ronald Nowland, chief executive officer of the Virginia Automobile Dealers Association.
The loyalty comes, Snyder says, from his company's growth and his ability to give employees a suitable working environment.
But his staff cites another reason.
``It is because he has a good reputation as an astute and fair business man,'' said Checkered Flag Honda salesman Gene Davis.
Honda New Car Manager Carlton R. Sample agrees, adding, ``Snyder is considerate when it comes to people and has built his foundation on people and their families.''
Whatever the reason, Snyder's business and following seem to be increasing. Sales are up from $85 million in 1989 to a projected $150 million this year.
All this in a market that Ken Hall of Hall Automotive World calls ``one of the most competitive in the country.''
This year, Sports Illustrated named Snyder one of its six All-Star Dealers. Though he did not win the overall award, Snyder was recognized as one of the best dealers in the country.
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Snyder was born into retail royalty. His grandfather owned the now-defunct L. Snyder Department Store, at City Hall Avenue and St. Paul's Boulevard in Norfolk.
The retail bug bit Snyder at an early age, though he'll tell you that it's heredity, and that he understood his purpose in life.
``I consider myself a merchant,'' the 64-year-old Norfolk native said. ``I've sold oranges, lingerie, boats. There's not much else I haven't sold. In fact, I think I've sold everything that is legal to sell.
``I feel when people buy from me, it is a vote of confidence,'' he said.
Snyder grew up during the Depression and later majored in merchandising at the University of Virginia, and sales promotion and advertising at New York University. Still, he said, the lessons that his grandfather and father taught him as he peddled oranges were what formed his business instincts.
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Snyder and his English wife, Jean, opened their first auto dealership in 1964 on Virginia Beach Boulevard near Military Highway. Snyder had laid $10,000 on the table for a MG/Austin/Jaguar dealership.
One reason: After buying an MG, Snyder wanted to get the car serviced. When he discovered there were no MG dealerships in the area, he asked why.
On the job, Snyder did the talking and Jean did the bookkeeping. As he tells it, Jean came up with the name and has been instrumental in its success.
Snyder doesn't look very imposing. He is of average height, and his cropped gray hair reveals all his facial features - the sideward grin, the broad forehead and the blue eyes. He looks like a generous grandfather who spends most of his time fishing and playing golf.
As for his management philosophy, Snyder says he likes to take a back seat. He calls himself merely a ``lubricant that keeps the company running.''
Bill Center, president of the Virginia Beach Neptune Festival, said the name Checkered Flag reveals much about Snyder.
``It says a lot that Snyder's name isn't on the nameplate like most car dealerships,'' Center said.
But don't think Snyder isn't serious about business. Just walk through one of his showrooms or service areas.
``I believe in giving employees the best,'' said Snyder, pointing to the evidence. ``They get the best showrooms. They get the best inventory. After giving them the best, I expect them to perform. That eliminates the excuses.''
Still, he understands that the market and economy can be cruel, and he won't automatically blame his employees.
``The problem is not usually the employee's fault,'' Snyder said. ``Why blame them during a recession? I believe in keeping them on the job.''
How does Snyder do it? How does a man run seven car dealerships on Virginia Beach Boulevard and log $130 million last year in sales?
``He defies business logic,'' Rawls said. Not to mention the logic of ego: He is a car company owner who doesn't have his own parking space and might have to park on the street if he arrives to work late.
``He is just like one of the boys,'' said Jaguar salesman Steve Reid. ``He doesn't put himself any higher, so he is able to relate to all levels.'' t MEMO: AT A GLANCE> Checkered Flag Motor Car Co. Inc.
Business: eight new-car dealer franchises; several used-car
dealerships and rental operations
Owner: Edward B. Snyder
Employees: 350 plus
Headquarters: Virginia Beach
Founded: 1964
1993 revenues: $130 million
Principal franchises*: Toyota; Honda; Hyundai/Isuzu; Mitsubishi;
Mazda/Volkswagen; Suzuki; Lynnhaven Jaguar/Porsche/Audi/BMW; and
Commercial Vehicle
* Checkered Flag precedes each franchise name.
ILLUSTRATION: Color photo by Motoya Nakamura
I believe in giving employees the best, says Edward Snyder, in his
headquarters office on Virginia Beach Boulevard in Virginia Beach.
After giving them the best, I expect them to perform. That
eliminates the excuses.
KEYWORDS: PROFILE BIOGRAPHY by CNB