Turning passion into profit is a keen expertise of luxury car sales entrepreneur Eric Whitehead. The Brooklyn-born, Queens-raised native, discovered his love for car and planes at an early age. His interest in the auto industry was later nurtured by his uncle at the age of 16.
“Growing up in Queens, everyone had cars and I always wanted the best cars even though my family couldn’t afford them,” said Whitehead.
Whitehead exercised his visionary attributes by seeing beyond his environment, despite the general disbelief that one could create generational wealth running a luxury car dealership.
After making his first six figures, while in his teens, he made the decision to double down on his skills. Whitehead began researching the chairmans of his favorite auto companies and how they were able to accumulate wealth.
After years of running his first company, Quality 365, he changed the name to PTG 365 (Price Too Good 365 days a year), with the understanding that most people are enamored with the right price.
He later tapped his two childhood friends to become his business partners and the trio hit the ground running from there.
“Prior to social media marketing, we hired our own street team, went to clubs, made sure our ads were in newspapers and at radio stations,” he says. “We were everywhere.”
After seeing successful in the Tri-State area, they expanded the business to Rhode Island, Florida and the West Coast.
While business was going as planned, Eric Whitehead hit a bump in a road with his two childhood friends in 2020 during the coronavirus pandemic. With locations in New York City, Los Angeles and Miami, Whitehead made the executive decision to close all three locations.
He also noticed large amounts of money missing from their accounts, so he began to question how the funds were being depleted.
“For a while I was in the denial because they were my childhood friends and although they were stealing, we were winning,” said the NYC native.
Whitehead not only confronted his business partners, but restructured PTG 365 to have success without turmoil. He was able to re-work business relationships that were not working in the past due to the personalities of his two former business partners.
Despite the split from his two business partners, PTG 365 continued to scale. As an NYC native, Whitehead understands the importance of philanthropy.
PTG 365 served as a conduit for single mothers to buy reliable and affordable vehicle by applying rebates to use as down payments. The program was established by Whitehead and his two former business partners.
PTG 365 continues to serve as a go-to luxury car dealership with Eric Whitehead at the helm of the company’s success.
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