Woody Briscoe, Snap-on Tools, and LDV...

The history of Major Leasing. Inc. of Atlanta. GA. is a short one. That's because the company was founded just a short time ago, in January 1986. The history of its president, Woody Briscoe, is a bit longer and combines three pieces of a puzzle that spells success. The three parts include Briscoe himself. Snap-on Tools independent dealers, and Lynch Display Vans, Inc.

When Briscoe, along with Foy Thompson, now executive vice president, organized Major Leasing, they had three things going for them: a solid background in vehicle leasing, a strong relationship with Snap-on dealers, and a vehicle supplier that would build-to-suit. Twenty-two years ago, Briscoe founded Leasing International, Inc. in Atlanta. When the company was sold to Gelco in 1978, Briscoe stayed on as president through December 1985, then quit to start another company. Major Leasing, Inc. was formed around Briscoe's concept of focusing on a specific market segment, that of small, independent business people, such as Snap-on dealers. Briscoe had leased vehicles to Snap-on dealers since 1972 and had developed ties with a number of sources who would refer Snap-on dealer business to him. Because Lynch Display Vans had been a major supplier of trucks to the dealers, a continual source of vehicles was available.

"The service Major and Lynch offers is this," Briscoe explains: "When a dealer comes to work for Snap-on Tools, he can literally sign up today and be in a new truck tomorrow, because LDV constantly builds these tracks and builds them to Snap-on specifications. The key to the program is a continuing flow of vehicles." The process seems simple enough. A dealer negotiates with Snap-on and signs on. He then comes to Major Leasing for lease approval, and gets a truck through LDV.

There's more. "When that truck is used for up to six years," Briscoe explains, "that track is still a good truck - because Lynch builds quality trucks - for someone who wants a used truck and can take over payments. Snap-on assists in moving that truck to another new dealer, so the cycle is continuous. This is good for the dealer, because he can get an affordable truck. It's good for Snap-on because they can provide new dealers to take over trucks when older dealers terminate. It's good for Lynch, because they have a continual customer base. And it's good for Major Leasing for the same reason. We've evolved this system over 15 years, and it works, because each element works together."

As a result of the unwritten, tripartite arrangement, Major Leasing has expanded and, to date, has leased about 500 trucks to Snap-on dealers, representing approximately one-third of its total business. At present, Major leases about 35 trucks per month on a nationwide basis.

"We've become experienced in leasing to smaller fleets, and we like that kind of business," Briscoe asserts. The average size of fleets Major works with is 10 to 50 vehicles. "Our job is to go into an operation that needs a fleet manager, but doesn't have a fleet large enough to warrant a full-time fleet professional, and structure a lease agreement that will help keep the fleet operating efficiently."

Woody Briscoe's idea, and his company's motto, "Personal service is the Major difference," have paid off. Today, after less than two years in business, Major Leasing, Inc. has $50 million in leases on its books.