Where were you born and raised, and what was your first job?
I was born in Springfield at Memorial Hospital in 1958 and lived on First Street, which is just five blocks from our dealership today. My first job was as a paperboy, and then after several paper routes I got a job at the Wabash Car Wash. I had a friend stop by the other day who worked with me at the car wash back in that era, and he likes to claim that he taught me everything I know about the car business from our days at the Wabash Car Wash.
How did you become involved in Isringhausen Imports?
As the name implies, it's a family-owned business. My late brother, Rob, started a used car business focused on luxury vehicles in 1981. I got out of college in 1982, and after a couple of years working in the industry, I thought this would be a fun career path, so I joined him in the automobile business. Rob's wife, Sue, remains a partner with my wife Jennifer and me, and two of Rob and Sue's sons work here as well.
What is the secret to success for a family-owned business like yours?
I think that a passion for what you do is one of the key ingredients to success. If you really, truly love and care about what you're doing and the people you're meeting – and sharing that passion with those people – that is one of the foundations of a successful business.
How has the automobile business changed over the years?
The technology in the cars is amazingly different. If you drive a car from the 80s and compare it to any modern car, the older cars seem so antiquated. Modern cars are amazingly safe, fast, comfortable and a pleasure to be in.
The biggest change is probably the relationship with our manufacturers. We acquired franchises for Mercedes-Benz, BMW, Porsche and Volvo Cars, and how we interact with them has been very challenging. We are now under construction on two facilities, a whole new Porsche facility on Madison Street between First and Second streets, and we are simultaneously having to remodel our BMW building. We like the way it looks now, but the manufacturer has mandated what a BMW facility has to look like. They don't have the power to take away the franchise because of Illinois franchise protection laws, but they have ways to leverage us with bonus monies that they can take away if we don't comply.
Most inquiries with customers today are initiated through some type of technology, be it an email or a lead through a provider like cars.com or Autotrader. That's compared to the old days when people would just walk in the door.
How do you successfully meet the challenges that a business like yours faces?
It takes a mindset that you don't get too wound up in the details. Every day you have to live with some unknowns that are going to be coming down the road at you, and you have to be comfortable with that. You also have to really care about the people you work with, your family and your community. You need to be a person who isn't too self-absorbed.
What future trends to you foresee in the automobile industry?
There's been a tremendous push over the last few years for electrification of automobiles. That's mostly been government mandates pushed upon the manufacturers. The buying consumers have been left out of the plan, and they are pushing back. The purchase rate of electric vehicles is not nearly what had been hoped for by the government and the manufacturers.
Electrification is still coming, but at a slower pace than had been initially planned. The manufacturers have invested billions of dollars to create facilities to produce these vehicles that consumers are slow to purchase.
Why do you feel it is important to give back to the Springfield area?
The community has given so much to Isringhausen Imports. It's important that the Springfield community thrives, and we want to help make the place where we live and do business to be the best it can be. We were raised with a value system based on caring about other people, whether those people need financial help or need exposure to the arts.
What advice would you give to young people entering a career field today?
Be open-minded to alternatives that maybe you haven't considered. There's a tremendous demand for trades today and that can make a very great and rewarding career. College is not always the answer for everybody.
What might people be surprised to learn about you?
I raced dirt bikes for 40 years, up until my sixties, and I did off-road racing around the country. I currently race Porsche race cars around the track at iconic race tracks.
