![]() ![]() In the beginning, it was just McMahon and a dream. You have to be able to be nimble and adjust to the changing market.” We adjusted our inventory and marketing and made sure we were still going to capitalize on the business that was still out there. We didn't let the down economy take our business down. We focused on capturing market share at all cost. Every other truck dealer was dropping 30%. ![]() Even last year, in the worst economic environment in my lifetime, we were at 30% growth. Our compounded annual growth rate from the days when we started with $10,000 is 150%. We've grown 30% over the past three years. “We're moving along at a pretty good pace. “This was a 15-year plan, and we got here in 5½," the 34-year-old McMahon says. While many other companies have cowered in the face of the worst modern-day recession the United States has seen, Utility Fleet has increased market share and become what McMahon believes is the largest independent used bucket truck dealer in the country, with an inventory that also includes digger derricks, pressure diggers, boom trucks, and cranes. And McMahon's business forecasts - which have been accurate so far - say the numbers will be $45 million in the next three years and perhaps $70 million by 2020. By the end of this year, Utility Fleet Sales is expected to be a $20-million company. USING industry knowledge, unwavering courage, indefatigable work ethic, and Internet savvy, George McMahon has turned a $10,000 advance off his MasterCard into a $16-million company. View all Utility Fleet Sales photos and captions George McMahon has built Utility Fleet Sales into a $16-million company despite the economic downturn, using a $10,000 credit-card advance, Internet savvy, and blue-collar work. ![]()
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