The FORT Podcast: Kevin Lackey
In Episode 4, Chris sits down with Kevin Lackey, CEO and President of Freedom Powersports and fellow YPO Fort Worth member. Kevin and Chris talk about Kevin’s journey from humble beginnings to becoming the leader of a $150 million dollar enterprise. Kevin has an amazing story and we hope you enjoy hearing how is hunger for success has helped him become who he is today.
01:13 — Kevin’s Background
03:02 — What was your childhood like?
11:34 — Was there a moment when you gained the confidence to overcome insecurity?
21:53 — What has the book Traction and EOS meant to you?
33:45 — How did you get into the motorcycle business?
39:26 — When did it become apparent that there was an opportunity to buy a dealership?
41:33 — Becoming Service Manager
43:46 — New Owners and Structure at the Dealership
52:44 — First Attempt at Ownership
1:06:53 — Working as General Manager
1:08:39 — Second Attempt at Ownership
1:15:18 — The Obvious Next Choice
1:21:02 — What is the end goal for Freedom Powersports?
1:27:22 — What is your advice for people who are on the fence about doing something?
1:34:45 — Dark Side of Social Media
MORE ABOUT KEVIN
Kevin Lackey serves as President and CEO of Freedom Powersports, LLC and is also the largest individual owner of the company. Kevin began his career in powersports at the original Freedom Powersports Weatherford location in 1998 while attending Weatherford College.
Mr. Lackey has served on the First Financial Bank board of directors since 2016. He also serves on The National Center for the Middle Market advisory board and multiple industry councils as part of his day to day role.
Since founding Freedom Powersports in 2012, Mr. Lackey purchased two stores from Family Powersports, the original Weatherford location as well as a location he founded in Hurst, Texas. Over the next few months Mr. Lackey focused his energies on raising capital to grow the Freedom Powersports footprint in North Texas. In mid-2013, Mr. Lackey increased the Freedom holdings by adding four metric dealerships located throughout the greater Dallas-Ft Worth Metroplex.
Mr. Lackey’s thought process, team orientation, dedication to operational excellence, attention to detail, and strong leadership qualities have guided the current success of fourteen dealerships now operating as Freedom Powersports. Freedom Powersports has grossed over $134M in sales annually and is on target to exceed $150M in sales in the next few years. He has functioned at an ownership level for over a decade and has consistently improved business operations by bringing profitability to departments and locations where others couldn’t, and he has proven that he can open a new location and bring it to profitability in the first year, even with a limited product line and minimal financial resources.
Mr. Lackey has added a tech startup company to his portfolio, as the co-founder of PowerSportsAuction.com. A tech platform that helps connect dealers to other dealers in the market place to manage inventory and a variety of other elements. This is in early stages of growth and capital raising.