Sometimes, being an entrepreneur doesn’t mean following the crowd. While it may feel safe to stick to what other businesses in the same industry are doing, it is important to focus on what your own business stands for, and what it is setting out to accomplish. Kendall Fontenot knows this from his own experience; by focusing on his hobby, he’s been able to provide affordable and dependable vehicles to those who need them.
Fontenot began his business with the traditional bank financing structure, but he soon realized that the banks would be a huge obstacle, because customers were often denied financing. To circumvent this obstacle, Fontenot began offering in-house financing with no credit check. Once he changed his business structure, he began earning valuable residual income.
Because he was willing to stand out, Fontenot has built an impressive 65% client retention rate, and has been named the largest minority-owned “buy here, pay here” dealership in Louisiana with his Ultimate Autoplex business. This title has gained him recognition as the youngest African American selected for the Board of the Louisiana Independent Auto Dealers Association.
The Passion for Business Starts Young
The entrepreneurial spirit is something that begins to grow at a young age. Seven-year-old Kendall Fontenot started his first business when he was still in the second grade. While he may have just been selling pencils to his classmates, he learned a valuable lesson: that he could make money in any business, as long as he set his mind to it.
From selling pencils to cars, Fontenot made his first million by the age of 20. His goal has been to achieve wealth, retire with his family, and live with complete financial freedom. He obtained that goal before his 35th birthday – and he isn’t done yet! Fontenot has much more planned for his entrepreneurial future, beyond authoring books.
Fontenot has also won #1 Auto Dealership in Baton Rouge for three years in a row, and was also named in the 2021 Business Hall of Fame for Baton Rouge Used Car Dealers. These are all things that he has accomplished while listening to his own calling, and standing out instead of fitting in.
Believing in Yourself Puts the Future in Your Hands
Inspired by mentors like Farrah Gray, Grant Cardone, and Rick Ross, Kendall Fontenot is still moving forward with success, not standing still. He knows that if someone wants to have a successful business, they have to believe in themselves, or they won’t equate to anything. He began this thought process as early as selling those pencils.
His next entrepreneurial venture is opening a restaurant franchise. He is now a franchisee for Checkers/Rally’s and has already scheduled his first location to open in December of this year.