Today we’d like to introduce you to Eric Malak.
Eric, can you briefly walk us through your story – how you started and how you got to where you are today.
In 2005, I use to work at Nextel and I was very happy with the job and my pay until Sprint bought them out and changed everything and I was no longer happy with the environment or pay. This was a turning point in my life and that’s when I started to think about what I wanted to do as a career. My father and several other family members were in the used car business and all of them seemed to be doing pretty good so I thought, why don’t I get in the car business too? After approaching my father and letting him know that I wanted to start my own business as a used car dealer, he immediately tried to talk me out of it because he always had high hopes of me being a doctor, lawyer, or engineer (plus he knew it was a tough business and didn’t want me to go through all the stress that comes with it). I knew I had to convince him that this was the right move for me because I’ve always had an entrepreneur spirit and I never wanted to work for someone else. My father has always been my mentor and I knew I needed his support, expertise, and financial help so I sold my car for $15,000 and emptied my savings which was another $15,000 and went to him with a total of $30,000 to prove to him that I was serious about getting into the business. He finally accepted my decision and helped me get started and taught me everything he knew about the business. So in 2006, he helped me secure my first location in Pasadena, TX which was a very small lot on a one way street. At the time, I didn’t care that the location wasn’t “prime” or that all the odds were stacked against me because I was just excited to have the opportunity to start my own business. From there, I built and grew the business which led me to open my second location in 2009 and third location in 2016.
I credit my success to dedication, hard work, and operating with moral ethics. I knew from the beginning that how I presented my business was going to be the key to my success so I’ve always paid attention to detail so I can stand out from my competition and not blend in with them. Looking back at what I have accomplished at such a young age and short period of time, I am extremely blessed and I give all thanks and credit to God for giving me the opportunity and continuing to bless me year after year.
We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
There have definitely been many struggles throughout the way. From struggling to do everything myself since I couldn’t afford any employees to trying to find time to study so that I could graduate college to growing the business and constantly adapting to changes in the market were some of the many struggles but the greatest struggle of all time that most people don’t understand is your always working even when your “not working”.
What I mean by this is that the minds of most successful business owners never stop working regardless if the business hours at the business says that it’s closed. Our minds don’t have on and off switches so we don’t have the luxury to block out work after work which causes our brains to constantly race 24/7 (yes even in our sleep).
So let’s switch gears a bit and go into the King of Cars story. Tell us more about the business.
We are a used car dealership that specializes in In House Financing (also known as Buy Here Pay Here) with no credit needed. We focus 100% of our business to cater to customers that aren’t able to get approved through traditional lenders such as a bank or credit union.
What sets us apart from our competition is our vehicles and service. Most dealers that offer this type of financing tend to have older, non-desirable vehicles since the risk is high. We took a different approach and disrupted the market by providing newer vehicles that are in high demand and making them available to customers with challenged credit so that they don’t have to settle for an older, less appealing vehicle.
Has luck played a meaningful role in your life and business?
I am extremely lucky and blessed to have excellent parents. Since day one, they have supported me in everything I do in life or in business. Their constant belief in me has been the backbone to my motivation to succeed in life. I know I can always count on them for advice, help, and support.
Pricing:
- Sale price of vehicles are from $10,000 to $30,000
- Down payments range from $1,000 to $6,000
- Bi-weekly payments range from $175 to $395
Contact Info:
- Address: 6867 Gulf Fwy, Houston, TX 77087
- Website: www.kingofcarstx.com
- Phone: 713-714-8929
- Email: sales@kingofcarstx.com
- Instagram: https://www.instagram.com/kingofcarstx/
- Facebook: https://www.facebook.com/kingofcarstx/
- Twitter: https://twitter.com/kingofcarstx
Image Credit:
Biei Photography
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