AAMCO Franchising Information & Startup Cost
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.
HOW MUCH IS 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.