50 YEARS OLD AND GETTING YOUNGER

Generations of Trust
GT Leasing was founded in 1955 by Chevrolet dealer Gordon Thompson when an opportunity presented itself to lease heavy equipment—not Chevrolets—to a large contractor. From there, the company naturally evolved into leasing vehicles to the same clients. Fleet vehicle leasing, which was in its infancy in the 1950s, soon became GT Leasing's focus. Today the company is independently owned by five partners and remains located in a 3,000-square-foot office building constructed in 1977 on property located just 100 yards from the original 1955 dealership location.

President Jim Marlier joined the company in 1976 and took over as president and general manager in 1989, after the retirement of his father, Jim Marlier Sr., who joined the company in 1963 as its first general manager. Even after retiring, Jim Marlier Sr. stopped by the office every day, just to see how everything was going. “He kept a small office,” says the current president, “and he came in to make his calls and read The Wall Street Journal. He felt that one should retire only if it was absolutely necessary, and stayed on doing anything asked of him right up until he died in 2002.”

That sort of enduring loyalty is by no means rare at GT Leasing. The company has 13 employees, most of whom have been with GT Leasing for over a decade, and some of whom have been with the company as long as 30 years. “Most of the employees who come here tend to make GT their career,” says Marlier. “I attribute that in part to hiring the right people, but the foundation is in fostering a work environment that is positive for everyone involved.”

GT Leasing's account managers strive to provide service beyond customers' expectations. Front (l-r): Trip Thompson CVLE, President Jim Marlier, Crump Kirby, CVLE, Robert Smith, CVLE. Rear (l-r): Jimmy Hubbs, Arnie Smith CVLE, Vice President Scott Smith, CVLE.

In many ways, long-tenured salespeople provide a clear benefit to GT Leasing's clients. “Our staff is highly experienced in all the aspects of fleet management that add value to our leasing product,” explains Marlier. “They know what the customer expects, and they've learned how to package a lot of extra sizzle into what some people think of as just a commodity.” That wealth of experience is part of the reason GT Leasing's renewal rate consistently tops 75 percent. “It generates a lot of trust,” Marlier says. “Our customers are comfortable with the people who have been almost like a part of their staff for many years, and those employees stay here because we treat them right.”

While the company can't lay claim to many 50-year clients—if only because so few businesses manage to last 50 years—several current customers have leased with the company for over 30 years, including some consumer clients. “Many of our continuous clients started out as business clients,” Marlier says, “but they're the individuals who owned the company and then retired or sold the business, and they continue to lease a personal car from us. The relationships last.”

Marlier considers the company's long-standing reputation for quality service and fair pricing to be its greatest achievement over the years, and that's a tradition GT Leasing has maintained since its earliest days. “People come into my office and love to tell stories about the business years ago and stories about my father,” says Marlier. “The number of people who have come in or whom I've met at different social or civic organizations who come up and talk about their positive experiences with GT Leasing has been very humbling.”

Gaining Traction
Over 50 years, GT Leasing has built its reputation in commercial fleet leasing. Today, about 75 percent of the company's portfolio consists of light- and medium-duty trucks, and 25 percent cars. The majority of leases are closed-end.

GT Leasing staff work as a team to create a positive customer experience. Front (l-r): Licensing Coordinator Susan Barnes, Insurance Manager Kathy Capell. Rear (l-r): A/R Manager Linda Dorsey, Receptionist Britt Marlier, CFO George Miller, CVLE.

The company started seeing an upsurge in interest in used vehicle leasing in the mid-1990s, but Marlier believes that trend peaked in the last year, at least as far as trucks are concerned. “The rebates have made it tough not to lease new trucks and SUVs. It's probably not trending downward in automobiles, but we're not doing as many used trucks as we used to.”

GT Leasing has long prided itself on its ability to go above and beyond for its customers, and one part of that service that the company started ten years ago is offering free loaner vehicles to business owner clients. The program has been a big success for GT Leasing, and Marlier believes it has done more to improve goodwill than almost any other program the company has offered over the years.

The company traditionally has done very little advertising, relying mostly on its reputation in the region and the self-perpetuation of its client base in the form of renewals and referrals. However, as GT Leasing moves forward, Marlier sees the company “becoming a little more dynamic” in terms of marketing. Recently, the company has pursued a greater presence at industry trade shows to raise its profile among potential clients, as well as increased print advertising in trade publications.

Gusts and Torrents
In addition to its long-standing reputation, GT Leasing also benefits from a leasing-friendly environment in Florida. “Sun Belt business has been excellent,” says Marlier. “Today, more people are walking in the door, calling for fleet quotes, or asking us to buy their fleet from the bank than we've ever seen before. So I'm pretty optimistic, even with the hurricane disasters that hit much of Florida.”

GT Leasing's 3,000-square-foot headquarters is located just 100 yards from the dealership where it was founded 50 years ago.

Last year, Florida endured one of its worst hurricane seasons in recorded history, but GT Leasing's Jacksonville location provides a buffer from the worst storms. “When they come this far north along the Florida east coast, they tend to continue northward to South Carolina and North Carolina before actually hitting the coast. Because of that, we have not had anything really serious hit this area in a long time, thank goodness and knock on wood,” Marlier explains. “But some of our customers in the southern and central part of the state have been hit, so we've helped them work through their situation.”

The company's focus on truck leasing proved to be a significant advantage last year as a consequence of the series of hurricanes that struck the state. With the flurry of reconstruction going on as well as the necessity of replacing vehicles, GT Leasing saw an upsurge in business. “It was a pretty busy fall for us,” says Marlier.

Growth and Training
As the company sees its business continue to increase, one of the challenges GT Leasing finds itself facing is how to attract a new generation of motivated employees to the business. The company's long-tenured employees are an invaluable resource, but as GT Leasing reaches the 50-year mark this year, Marlier increasingly is turning his attention to the question of succession. “I've been here now for 27 years. Probably within the next ten years, I'll be retired. So who are we bringing in?”

GT Leasing has made a concentrated effort to attract younger account managers to help take up the reins to guide the company into its next half-century. Gordon (Trip) Thompson III, the founder's grandson, is a member of the staff and is one of the company's top account managers. Today, three of the company's six account managers are under the age of 35, and their presence has helped raise the overall energy level.

VP Scott Smith, CVLE, and CFO George Miller, CVLE, discuss strategies to keep GT Leasing thriving in the company's next half-century.

The challenge for GT Leasing, as for many lessors, lies in determining where to find effective, energetic employees. “Where do we find them?” Marlier asks. “A little bit of everywhere!” If there's one thing Marlier has realized, it's that potential salespeople can come from anywhere. Among the company's three youngest sales employees, one came from the wholesale business, one came from the auto dealership environment, and one joined the company straight out of college.

The question of succession becomes even more important as GT Leasing's client base gets younger and younger. “I don't know if it's because we're hiring younger people, or if it's because our clients are also going through succession in their businesses,” Marlier says. “I think it's probably more the latter than anything else, so we're challenged to keep up with and relate to a new generation of customers.”

Part of the key to integrating new employees successfully is making sure they benefit from the wisdom of pre-existing employees, and that's a challenge everyone at GT Leasing takes seriously. “One of our top account managers is training our newest person, making sure he understands the process,” says Marlier. “We want to instill the good habits of someone who's been successful into our new people so they understand.” The informal mentoring program not only serves as invaluable education, it also contributes to the strong sense of teamwork GT Leasing's employees share. When employees develop strong skills and learn the best ways to complement each other's abilities, everyone benefits.

The company's Jacksonville, Florida, location has been a very active market for small and medium sized fleets.

“Having this sort of training helps bypass a lot of employees coming into my office and asking me the obvious,” says Marlier. “They know they can talk amongst themselves and probably come to a consensus before they even get to another management level, and that helps everything run a lot more efficiently.”

Another way GT Leasing contributes to the strength of its sales force is by sending salespeople and managers through NVLA's Certified Vehicle Leasing Executive program. Of the five salespeople who have been with GT Leasing for longer than two years, four have earned their CVLEs, and the fifth currently is enrolled in the program.

“The CVLE program is the best educational tool we can use to groom our people, so they don't have a colloquial view of what leasing is,” explains Marlier. “We want to make sure they get outside the area and make contacts with other leasing companies and understand what other people do. The tools they learn from other people can enhance their clients' experience, and that's what the whole process is about.”

GT Leasing employees, like Insurance Manager Kathy Capell, are experienced, efficient and well-trained to handle any customer request that arises.

The CVLE program provides GT Leasing's employees with a common base of knowledge that strengthens the ties between them while also strengthening the company's position in the market. “The fact that they can go away for a weekend and come back with new ideas has been great for us, and it's been really positive for our employees,” says Marlier. “They enjoy going through the process, and it helps keep everyone on the same page.”

Great Tomorrows
With the benefits of an evolving sales force and a Florida leasing climate that's as sunny as its weather, it's no wonder GT Leasing looks forward to continued growth. “We're in a growth mode right now,” says Marlier, “but we're holding all of our costs pretty much in line and trying to maximize our facilities.” Marlier foresees the company continuing to hold the line on expenses and increase its portfolio size by five to ten percent over the next few years.

Part of the secret to GT Leasing's continued success has been a plan of slow and steady growth. “Steady growth with less risk by being selective with credit has been very positive for us,” Marlier explains. “It allows us to maintain a high level of customer service and keep our renewal rate very positive. Instead of getting new clients in the front door only to lose our old friends out the back door, we are able to achieve growth and keep our client service and satisfaction at a superior level.”

As the years pass, Marlier looks forward to seeing the next generation of GT Leasing continue to increase its presence and take on more responsibilities. “Five years out, I foresee different people having a much stronger role in the management process,” he says. “We have some really good young employees who are stepping up and doing a good job.”

Armed with a positive attitude, a strong staff and half a century of leasing expertise, it's clear that GT Leasing is well-prepared to carry on its grand tradition of success.