Over the past 15 years, the Faricy automotive brand has expanded from a single dealership to four locations and eight brands throughout southern and central Colorado, most recently adding Peak Kia Colorado Springs to the Faricy group of dealerships.

But company President Ben Faricy said neither he nor his brother, Paul, the vice president, is interested in growth simply for growth’s sake.

“We’ve been intentional about our growth,” Faricy said. “We’ve been careful to grow only when we know we can continue to serve our customers and the people who work with us in the same way that they’ve come to trust.”

Developing and maintaining community trust has been central to the Faricys’ decision making over the years, including the recent decision to evolve its nomenclature. Known for nearly three decades as the Faricy Boys, the dealership has changed its moniker to Faricy Automotive, a change that recognizes “the collective success of its team and its focus on long term growth,” officials said in a news release.

“We’ve worked hard, for almost 85 years, to build a name that the community trusts,” Ben Faricy said.

“At the same time, we recognize that this is much bigger than my brother and me anymore. This rebrand recognized that our success is the result of the 200-plus men and women who serve our customers every day with our core values: Integrity, loyalty and love.”

The Faricy Boys Chrysler Jeep, located on New Car Drive in east Colorado Springs, will become Faricy Chrysler Jeep, officials said. Peak Kia Colorado Springs, located on Auto Mall Loop, will become Faricy Kia.

In 1942, Owen Faricy, Ben and Paul’s grandfather, founded the Owen Faricy Motor Co. as a small used-car lot in Pueblo. The dealership later expanded and moved to Colorado Springs. In 1997, the company was renamed The Faricy Boys, for second-generation owners Mike and Joe, Owen’s sons. Ben and Paul Faricy are Mike’s sons.

Family-owned businesses often face longevity challenges. While parents dream of passing down their business to their children, sons and daughters can be resistant, looking instead to find success via other avenues.

For a time, Ben Faricy resisted the gravitational pull of the family franchise. After graduating cum laude with a business degree from the University of Colorado at Boulder, Ben worked in the finance sector, first with an investment bank, then a private-equity firm. In 2002, he decided to join his brother at Faricy Boys.

“Growing up in this business, I enjoyed the entrepreneurial aspects, and I realized that I’d missed that,” he explained.

Ben spent the next few years learning the automotive business from the bottom up, working in nearly every capacity before becoming company president in 2009.

“Our father set us up for success by having us work in every department over a period of several years, so we walked a mile in the shoes of the people we would eventually lead, and understood the business at the ground level” he said.

Four months into Ben’s tenure as president, the Chrysler automotive company declared bankruptcy and halted production, presenting a serious challenge for Chrysler dealerships across the U.S., including the Faricy Boys. During the production halt, the Faricys decided to purchase the entire inventory of two closed Jeep dealerships in Colorado, a risky, $3 million move that ultimately boosted the company’s market share.

“It’s been a long road, with some tough days along the way,” Ben said. “But I have no regrets.”

Brand loyalty is a prime driver of customer activity, so the rebranding needed to reflect the familiar, trusted Faricy name while keeping an eye on the future, Ben said.

“We realize there is a generation of people that know us as the Boys,” he said. “But’s it’s never been about me and my brother, or our father and uncle before us. We’re so grateful for the team of men and women who represent Faricy Automotive. Without them, we could not have continued the legacy of servicing our community for 85 years. This rebrand recognizes that.”

While advertising, messaging and signage will reflect the new name right away, it will take some time for the name change to fully take effect, Ben Faricy said.

“Rebranding is a project,” he said. “It will take a little time for it to seep through all the tentacles of where the name might appear.”

The automotive retail business has seen a lot of consolidation in recent years, which translates to less local ownership and more a corporate feel throughout the industry, Faricy said. Any future expansion of Faricy Automotive will only take place if the company can maintain the personalized atmosphere that has made it a trusted brand for more than eight decades.

“We believe we’ve found the sweet spot of being large enough to compete with investments in our facilities, our technology and our people, to compete with competition large and small,” he said. “But we’re laser focused on remaining small enough to where we can offer a personal experience to our customers and the people who work with us.

“That’s what people are longing for, and we think we are in just the right place to compete – and win – in today’s market.”

As for as Ben and his wife’s three children, he would be thrilled if they decide to join the family business one day, but he won’t try to force the issue.

“Just like my father did for my brother and me, we aren’t encouraging them to pursue this unless they truly want to,” Ben said.

“You’ve probably heard the saying, ‘Do what you love, and you’ll never work a day in your life.’ I believe that I’ve found that, and I hope my children find it too, whether it’s in the car business or not.”