March 17, 2023 (North Bethesda, MD) – FitzMalls sets another standard in the industry by becoming the largest dealership group in the country to become a 100% Employee-Owned Company known as an ESOP.
Jack FitzMall, recently named a Visionary Dealer by Automotive News, announced the transition to an ESOP effective February 1st, 2023. The purpose of the ESOP is to provide a future retirement benefit for FitzMall’s employees and to ensure that the FitzMall philosophy continues well into the future. Mr. FitzMall built his company on the principles of honesty, hard work and excellence in customer service. All FitzMall dealerships operate with a no haggle, no hassle posted price for new and used cars. Transparency is part of their process-based management system that is ISO9001 Quality Certified. In the many years in business, the FitzMall Automotive Family has established a reputation of providing complete customer satisfaction based on honest business practices and upholding an atmosphere of respect and dignity for its employees.
An ESOP is a way to provide workforce security, that will help employees plan for retirement by receiving stock in the company as an additional Employee benefit. From now on, FitzMall’s employees will directly benefit from the success of the company and have a sense of ownership. “This was not an easy path because there were many obstacles that had to be overcome” said Jack FitzMall. “Nothing is going to change from a day-to-day standpoint. Our employees will participate directly in the growth of the company, and continue to focus on taking care of our customers.” There are more than 7,000 ESOP companies in the United States. With this major milestone, FitzMall will continue to provide the best customer experience for years to come.
Each FitzMall employee participated in one of the 35 roll out meetings that included a personal message from Jack FitzMall and an overview of what this company sponsored employee benefit will mean to them in the future. The legacy of the FitzMall is now in the hands of employee owners to carry on the mission of great customer service and fair dealing.
In 1966, Jack FitzMall founded FitzMall's Colonial Dodge in Bethesda, Maryland. From the beginning, the guiding principle of this new dealership was to provide exceptional value in the most comfortable, customer friendly sales and service environment possible. Today, FitzMall represents over twenty brands in 26 showrooms in three states. The #FitzMall, there’s just no better way to go! www.FitzMall.ai
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