In a joint press release, Hunter Malone, owner of DealerMax, announced recently the sale of his firm’s assets to Jim Maxim Jr. and Jim Maxim Sr.
Profit By Design, the Maxim family enterprise out of Wayne, PA, purchased the company assets in a cash sale this week and will use the DealerMax brand to market the company’s dealership training and F&I income development programs to an expanded network of dealerships nationally.
The sale comes as dealerships seek to bolster profitability in a response to downward pressure on vehicle margins. Hunter Malone, President of DealerMax, concurred, “Now is the right time for this. Profit By Design and the Maxim team have a great formula for increasing dealer margins in Sales and F&I. The company offers dealerships some of the most respected F&I training programs on the market today, and I am proud that the name will carry on with a family owned business with integrity.”
Jim Maxim Jr. formally ended his dual role as President of MaximTrak and Chief Digital Officer for RouteOne on August 1, 2019, after a 33-month transition period post-sale. Maxim intends to build upon his family’s 40-years of history in the automotive industry and grow their company platform.
As CEO of the combined entity, now branded DealerMax, Maxim intends to grow the business and employee base in the greater Philadelphia market and looks to expand operations in major metro markets regionally. The ‘Profit By Design’ name will live on and become the program name for its F&I Income Development offering as the company looks to expand its services into Digital Retail Consulting and Sales and Management Training.
Jim Maxim Jr. expressed that “The opportunity for growth as well as the talent, and expertise of our people at Profit By Design is what drew me back to the family business. We have employees that have been with us for over 30-years and it is an honor to lead the company into this new era of growth and expansion.”
Maxim continued, “The re-imagination of the customer experience that is taking place within the automotive industry right now is very exciting. Dealers need best practices, proven processes and excellent training for employees to help them transition and succeed with today’s consumer. We intend to expand our offering to help our dealers thrive in the rapidly changing marketplace.”
DealerMax has announced multiple openings in partner markets including Pittsburgh, Boston, Rochester/Syracuse, NY/NJ Metro, Connecticut, Washington D.C. and Baltimore.