AAMCO Franchise Startup Cost, Profit Margin, Revenue and Locations
AAMCO can be considered as the world’s leading auto transmission repair franchise. The company has maintained its position as an iconic brand for over 50 years. They started selling franchise in the year 1963, which was also the same year the company was established and the many years of experience they have gathered have made them a choice auto repair center among car users. This is just one of the main reasons why a lot of business entrepreneurs want to know how much is an AAMCO Automotive Franchise?
FRANCHISE INFORMATION ABOUT THE COMPANY
The first AAMCO was opened by Robert Morgan in the year 1963 and it immediately began expanding that same year. They opened their 1st franchise in November 1963 and the franchises have expanded to about 650 units across the United States of America and Canada, servicing close to about 45 million vehicles.
The company is quite popular among vehicle users. Recently they hired a popular marketing firm to help them measure how much the people are familiar with their brand and 73% of the correspondents surveyed considered AAMCO as the top brand when it comes to transmission repair.
DOES THE COMPANY SELL FRANCHISE?
If you would want to get information on whether AAMCO sells franchise. You won’t be disappointed. AAMCOsells franchise and you will be benefitting a great deal buying into their franchise opportunity.
THE AAMCO FRANCHISE INFORMATION
If you are concerned about the best time to buy into a franchise. Now is just the best time for you to invest in buy into the AAMCO franchise as the company is making significant investments in assisting their existing franchises on both the short term and the long run.
The company believes their expertise in the transmission business is the advantage they have over others as customers have the belief that when you are very much skilled in repairing transmissions, you have the ability to fix anything that is needed to be fixed in a vehicle.
AAMCO as being the most dominant brand in the transmission repair industry gives their franchisees the opportunity to leverage on the company’s position to adopt new customers for long-term patronage. What the franchisee benefits from this is to be a partaker in the $100 billion revenue of the over 160,000 firms that are involved in the US automotive repair, of which AAMCO takes a dominant figure in the total revenue.
WHAT IS THE COST OF AN AAMCO FRANCHISE?
In order for you as an entrepreneur to purchase an AAMCO franchise, you will need an investment in the range of $226,300 to $330,500. This estimate is inclusive of an AAMCO initial franchise fee of $39,500 and also incorporates the costs for the equipment, lease, training, constructions and other miscellaneous items.
For you to fully qualify for an AAMCO franchise, you must possess liquid capital in the tune of $65,000 and you will be expected to have a net worth of a minimum $250,000.
The cost of an AAMCO franchise is quite expensive so the company has taken some good steps to assist prospective franchisees in starting up their franchise unit.
DOES AAMCO FRANCHISE OFFER FINANCING?
Although the company does not offer any form of direct financing, they however have relationships with 3rd party sources that can assist the franchisee with funding to cover the franchise fee, equipment, accounts, startup cost and other costs associated with starting the franchise unit.
As a veteran of the United States military, you will be entitled to a 15% rebate of the initial AAMCO franchise fee. That is about $8,000 discount for you.
TRAINING AND ASSISTANCE
As an AAMCO Automotive franchisee, you will be entitled to get trainings and orientation from the company before you set up your franchise unit. You are mandated to attend the AAMCO’s Operator’s School, which is a 3-week intensive training that will offer you insight in the operations of an AAMCO franchise unit.
Every new franchisee will be entitled to benefit from the AAMCO intensive 5-week Grand Opening Operations Development Training (the GOOD Training) This will hold in the 1st quarter after the franchise unit has been opened and the training will hold at the AAMCO center.
As a franchisee, you will also benefit from AAMCO’s marketing support, which is offered to all franchise units. You will also be empowered with a toll-free line, internet, security and newsletters to keep you abreast with every new information about the company as well as latest technologies in the operations of your franchise unit.
WHAT IS THE TERMS OF AGREEMENT AND RENEWAL
As an AAMCO Automotive franchisee, the period of your franchise term is 15 years from the moment you sign the franchise agreement. Once the period elapses, an automatic renewal is effected unless the franchisee gives notification to the company (a year prior to the expiration) about the intent not to renew their franchise.
Otherwise the franchise term extends to another 15 years and the franchisee will be expected to sign a current franchise agreement and also the franchise fee at that time might have increased.
Is AAMCO a franchise? How much does a AAMCO franchise cost? Do you need information on AAMCO franchise cost and requirements to open one?
Are you interested in joining a franchise?
Are you aware of AAMCO franchise? Do you want to know more about it? Then you can get more details of the franchise by reading the post further. Here, I will be talking about a franchise known as AAMCO Franchise; it is a franchise that basically has to do with vehicle repairs.
I will be talking about it’s history, how it was founded, who founded it, the startup cost required for those that wants to become franchisees of AAMCO franchise, the veteran incentives, the financing options, the royalty fee and so on.
ABOUT AAMCO FRANCHISE
AAMCO franchise was founded in 1962 by Robert Morgan and Anthony A. Martino and since then has been the worldwide leader in transmission repairs. The marketing research done has shown that 73% of people recognize AAMCO as the leading brand for transmission repairs.
In the 2000s, the company diversified their business model by launching the ‘Total Car Care’ program which has helped in expanding the revenue of the franchise.
The corporate address is 201 Gibraltar Rd. Horsham, PA 19044. The Chief Executive Officer(CEO) of the company is Brett Ponton and the parent company is American Driveline Systems Inc.
The first AAMCO was established by Robert Morgan in 1963 in Philadelphia which started expanding in November of the same year. Presently, the company has more than hundreds AAMCO stores in the United States and Canada.
AAMCO has been franchising for fifty-four (54) years. The franchise allows absentee ownership and requires 5 employees to run each franchise. It has franchises in about six hundred (600) locations and has its headquarters in Horsham, Pennsylvania in the United States of America.
AAMCO franchise has been an iconic brand for more than fifty (50) years. Martino later ended his affiliation with AAMCO and left Morgan to it, Morgan became the CEO of AAMCO and was later succeeded by his son, Keith. Martino left AAMCO then to manage MAACO auto body shop franchise. The franchise is a privately owned company which offers car care and transmission as its products.
AAMCO FRANCHISE FEE
Every franchise system has its own financial requirements because it is impossible to join a franchise system without paying a dime. Therefore, the initial franchise fee of AAMCO franchise is $39,500 while the liquid cash required is $65,000.
The net worth requirement for AAMCO franchise is $250,000 and the initial investment ranges between $227,400 – $333,000.
AAMCO FRANCHISE ONGOING ROYALTY FEE
The ongoing royalty fee for the franchise is 7.5% while the ad royalty fee varies.
AAMCO FRANCHISE VETERAN INCENTIVES
The franchise offers $8,000 off franchise fee as veteran incentive.
AAMCO FRANCHISE FINANCING OPTIONS
The financing options is in conjunction with Total Car Care which provides financing to cover franchise fee, payroll, equipment, inventory, startup costs, and accounts receivable through third party.
AAMCO FRANCHISE TRAINING AND SUPPORT
AAMCO Franchise is known for the 100% support it gives to franchisees at all times. It does not stop supporting franchisees even after the store is up and running, it gives both technical and operational support to franchisees to avoid serious mistakes and guide you well.
The franchise gives five (5) days onsite training to franchisees and also provides fourteen (14) days training at the headquarters. AAMCO franchise also gives additional training at corporate training facility, franchisees’ location and online.
AAMCO franchise also provide certain things to support franchisees which are:
- Extensive franchisee orientation
- Market development
- Lease negotiation assistance
- Site selection
- Traditional and online marketing campaigns.
The franchise also supports franchisees by giving them ongoing support through toll free line, meetings, grand openings, newsletters, security, internet, and field operations. The franchise also uses ad slicks and regional media for marketing support.
AAMCO FRANCHISE IDEAL CANDIDATE
The franchise also has requirements which franchisees must meet before they can even think of joining the franchise system. These requirements are:
- You must be an entrepreneur who has the passion for business to succeed.
- You must also have a burning desire to own a thriving business and be successful at it.
It is important to note that it is not compulsory for franchisees to have previous automotive experience.
WHY AAMCO FRANCHISE?
You might be questioning yourself about the reason why you should choose AAMCO franchise as the one to join and I feel this should be able to answer your questions. You should choose AAMCO franchise because it is one of the best and leading companies in its industry and it has a very strong business model
The franchise also gives opportunity to franchisees to make their lives better and have a secured future for their family. The following are also reasons why you should join AAMCO franchise:
- Reasonable business hours which makes it possible for franchisees to balance their personal life with work.
- It gives franchisees an opportunity to own real estate.
- There is opportunity for multi growth.
- It is a business that is resistant to recession among many others.
HOW DO I JOIN AAMCO FRANCHISE?
After reading through all the information provided above and you feel that AAMCO franchise is the best choice for you, you can proceed to join by visiting the website www.aamco.com to fill the required form.