“I had the choice to sink or swim”: When Rick Hendrick took a big risk to build his automotive empire

Rick Hendrick, the owner of NASCAR team Hendrick Motorsports (HMS) and founder of Hendrick Automotive Group, once reflected on how he built his automotive empire, the largest privately held automotive retail group, by taking significant risks. He founded the Hendrick Automotive Group in 1976, and today, it’s a network of over 100 car dealerships.

Rick Hendrick is widely regarded as the most successful NASCAR team owner and businessman. At an early age in his career, he made a bold move by purchasing a struggling Chevrolet dealership in Bennettsville, South Carolina. His journey is a great example of taking risks and betting on hard work to achieve success.

Rick Hendrick started working in a service station before transitioning into car sales under Mike Leith. His journey from a small dealership in Bennettsville to becoming the youngest Chevrolet dealer in the U.S. and eventually becoming a dominating figure in NASCAR is truly inspiring.

In 2016, during an interview with Inc. Magazine, Rick Hendrick talked about his journey from working in a service station to becoming a big name in the automotive industry through hard work, risk-taking, and seizing opportunities.

“I was working in a service station and met a car dealer named Mike Leith. I went to work with him, and then when I was 26, I got recruited by GM and sold everything I owned and moved to Bennettsville, South Carolina. It was a big risk. I was running a store with 30 salespeople, and we were selling 200 to 300 cars a month…”

“And I went to a store with five employees that was lucky to sell 200 cars a year. It was a big risk, but I just figured if I worked as hard as I could, we wouldn’t fail. I had the choice to sink or swim, and I decided to swim really, really hard. I also have to give Chevrolet a lot of credit.”

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How did Rick Hendrick’s lifelong love for cars and racing start?

Hendrick Automotive Group is based in Charlotte, North Carolina, and sells new and used vehicles and also offers financing, warranties, and repairs. The company's dealership has over 130 franchises in 14 states.

In the aforementioned interview in 2016, Rick Hendrick reflected on how his upbringing on a farm and early exposure to racing shaped his passion for cars and mechanics. He studied mechanics in high school.

“I did grow up on a farm. My dad raced on the weekends. I was a gearhead and didn’t want to work on the farm, but he taught me how to work on cars and tractors, and I took mechanics in high school … I love cars and love racing, and when you’re able to make a living doing the things you enjoy the most outside of your family, you’re a blessed person.” HMS owner said.

Currently, HMS is the most successful team in NASCAR, boasting 313 wins and 14 championships in the Cup Series.