ALBUQUERQUE, N.M. — Starting a new business in the midst of an economic downturn was not really a concern for Reese Spofford of Reese’s Car Connection.
Instead, it presented an opportunity too good to pass up.
“I lot of people told me I was crazy to open a business at that time with the way everything was going,” Spofford said of his 2008 start.
“But I was able to buy out somebody else who had failed. I was able to work out a three-month buyout and it worked out great.”
Indeed, the very first day the business opened its doors, it sold a car, and it hasn’t really slowed down since, Spofford said.
“We did real good right away,” he said. “Right away we were pretty busy and we’ve just kept it going.”
Spofford earned an MBA from the University of New Mexico’s Anderson School of Business and that background helped give him credibility in the finance world as he sought credit for the business, he said.
It also indirectly led to his first job in autos sales. When he went on a job interview to be the finance manager of business that sold mobile homes, the interviewer kept mentioning how it was so similar to the car business.
“I wasn’t really that interested in mobile homes,” Spofford said.
Instead, he went to Melloy Dodge and got a job selling cars, eventually working his way throughout the business before heading out on his own.
But cars are something that has always been in his blood, Spofford said.
“I bought my first car before I got my license and took the engine out,” he said with a smile. “I made a mess in the driveway and my mother yelled at me.”
It’s that enthusiasm for the business, however, that drives his success, Spofford said.
“Our niche is cool cars,” he said, looking out at a lot with Hummers, BMWs and a Corvette or two.
“We’re really excited about the cars we buy and we sell,” said Spofford. “We have a lot of pride in what we have on the lot.”