The Inspiring Story Of Greg Jackson

The Inspiring Story Of Greg Jackson The First Black Auto Dealer To Surpass The Billion-Dollar Revenue Mark

From Paperboy To Prestige Auto – Jackson’s Come Up

Greg Jackson has lived the ultimate entrepreneurial dream. Born in Detroit, he financed his college education by working as a paperboy.

After earning degrees in accounting and finance/marketing, Jackson founded Prestige Automotive Group in 1993 with $150,000 of his savings.

Through exceptional customer service and sales performance, Prestige became the first Black-owned auto dealer to surpass $1 billion in annual sales in 2005.

Surmounting Industry Challenges To Stay On Top

The mid-2000s recession almost capsized the auto industry, with major brands like GM and Chrysler declaring bankruptcy. But Jackson kept Prestige afloat through smart business moves – eliminating fleet sales and focusing more on service and retail.

While scaling his dealership count down to just three outlets, he boosted Prestige’s profitability enough to earn a Mercedes-Benz award.

Prestige’s Legacy – Paving The Way For Black Auto Success Stories

Jackson’s billion-dollar milestone has inspired other Black entrepreneurs like RLJ McLarty’s Bob Johnson to incredible auto industry success.

Though economic vicissitudes make hitting 10-figure annual revenues difficult year after year, the accomplishments of pioneers like Jackson and Johnson spotlight the vast growth potential for African-American-owned car dealerships.

Greg Jackson trailblazed his way from humble beginnings to staggering business heights. In the process, he set a bold example of Black excellence in a tough industry – one that future generations of diverse dealers can aspire towards.