Today, we’d like to introduce you to Spencer Sr. Young.
Hi Spencer, thanks for joining us today. We’d love for you to start by introducing yourself.
My grandfather, Seldon “Jack” Olsen, was the partner owner of a repair shop in Morgan, Utah, in 1924. After acquiring all of the shares of the business, he applied for an Oldsmobile franchise and was granted it — beginning his journey into the dealership space. He then applied for a Chevrolet franchise and signed it in 1929.
Though he was fighting through the trials of the Great Depression and WWII, Grandpa Jack wanted to expand his Chevrolet franchise to the Layton market in the 1930s. It was in the 1950s that my father, Sam Young — his son-in-law- began a career. My father worked his way up from being a bookkeeper to a general operations manager. Two years before Grandpa Jack passed in 1979, my father purchased the remaining shares for the dealership in Layton.
After serving a mission, I got involved in the business full-time in 1977. During the mid-80s, we planted our seeds for expansion by acquiring two new dealerships — one across the street and one in Wyoming. I was later appointed as the president of the Young Automotive Group, where I was able to bring our business to Ogden and Burley, Idaho before the turn of the millennium. It was also during this time that we acquired the old Bonneville race track facility and turned it into the iconic Rocky Mountain Raceways.
The financial crisis brought our business several challenges. At the time, we had both General Motors and Chrysler dealerships — who were facing bankruptcy then. Thankfully, we didn’t have to close down a single dealership, but it was through that experience that we learned what we needed to do next: spread our risk and diversify into different automotive franchises.
Over the next few years, we doubled our total number of locations and expanded into cities like Morgan, Brigham City, and Logan. We further developed our efforts in Ogden and Burley as well, growing to a nine-dealership operation. In 2014, I decided it was time to pass leadership of the business to my sons.
Today, I serve as a chairman for the Young Automotive Group as well as the Chief Adventure Officer. Our company has entered the powersports industry and grown into a business with over 30 operations across three states.
This year, we’re celebrating 100 years of business. Near the end of March, we held a grand opening ceremony for our new headquarters, which serves as a beacon of commerce for the future and a symbol of our legacy.
Alright, let’s dig a little deeper into the story – has it been an easy path overall, and if not, what challenges have you had to overcome?
Our business has definitely been through difficult times, and it’s through those that we’ve established processes and mapped out our plans for success. My grandfather’s business acumen and resilience during the great depression showed that a company can survive even the most challenging of times if they have enough grit and intuition.
His example has helped us as we’ve led our company through both the storms of the financial crisis as well as the ups and downs of the automotive industry. The Young Automotive Group is now a five-generation business, and we’ve made sure to provide each of the following generations with the resources they need to be successful for the next 100 years.
Alright, so let’s switch gears a bit and talk business. What should we know?
The Young Automotive Group is a privately held corporation that’s been family-owned and operated for 100 years. With over 30 automotive and powersports-related operations and over 1,800 employees, the company is dedicated to delivering an exceptional customer experience and helping those they work with Think Young.
As the Chief Adventure Officer, I work with my brother/partner, Seldon Young, who is also a chairman, as well as the family leaders of the company, to direct our efforts. I also serve as a mentor and reference for our current leaders as someone with over 50 years of industry experience.
At the Young Automotive Group, we strive to be more than just a dealership chain. We not only make sure that we treat our customers like family but that we deliver on our commitment to the community as well. In 2006, my wife Sherry and I founded the Young Caring for Our Young Foundation — a nonprofit that targets issues related to clothing, hunger, literacy, and teen homelessness for children in need.
Since its founding, we’ve donated over $6 million to various initiatives across Utah, Idaho, and Montana. Our Foundation also launched the KIND Fund in 2022, which empowers educators, donors, and volunteers to assist students in need of clothing as well as essential resources. We’ve been able to serve over 4,000 children with the program and recently launched an app called “Kind Fund” to help bring it to more areas.
We’re grateful for the opportunities we’ve had to make a difference and proud to keep our growth-oriented company within the family. We strive to let our customers know that we’re a company that you can trust and that we’re a presence that will make your community a better place.
So maybe we end by discussing what matters most to you and why.
What matters most to me today is continuing and building on our legacy as well as giving all of our employees an opportunity to grow. When I was in Greece, I came across a sculptor who was selling some of his work. I looked at one of his pieces and asked him how long it took to create. He told me all of his life.
It’s taken five generations of our family and 100 years to make this business what it is today. I want to make sure that we’ve planted seeds to help grow this business into a staple for centuries to come and to ensure that we always follow through on our commitment to the communities we serve.
Contact Info:
- Website: https://www.youngautomotive.com/
- Instagram: https://www.instagram.com/youngautomotivegroup/
- Facebook: https://www.facebook.com/youngautomotivegroup/
- Linkedin: https://www.linkedin.com/company/young-automotive-group/
- Youtube: https://www.youtube.com/channel/UCiLQK3ZVGv620gEz_le0QGw
Image Credits
Jack Olsen, Rocky Mountain Raceways, Oz Marketing, Seldon “Jack” Olsen, Young Caring for Our Young Team, Abby Cox
