COTTMAN TRANSMISSIONS Franchising Information & Startup Cost
Are you interested in starting a Cottman Transmissions franchise and have been searching for all of the necessary detailed requirements to get started? This article clearly presents you with all the necessary, well-detailed, and comprehensive information concerning the initial startup, financial investments requirements, the benefits and training that awaits you, how to join the franchise business, and making a forward plunge towards starting up a Cottman Transmissions franchise.
About Cottman Transmissions
Cottman Transmissions is a business franchise in the automotive aftermarket industry, which was founded in 1962. Cottman Transmissions started offering franchise opportunity since 1964, more than five decades ago. The company was founded by Richard Silva, and has its headquarters located at 201 Gibraltar Rd. Horsham, Pennsylvania 19044.
Cottman Transmissions has franchise owners in various places all over the world, with the United States having the most number of Cottman Transmissions franchisees. It could basically be regarded as the United States leading brand in the automotive aftermarket industry, with about 65 locations all over the United States, Canada and Venezuela.
The Cottman Transmissions was first established in 1962 by Richard Silva. However, it was not until two years later that the company started franchising. In 1964, Cottman Transmission offered its first franchise for sale, which was established on Roosevelt Boulevard. By the 1960s and 1970s, the company had already started having a chain of franchises in the East Coast and all over the Golf Coast states.
By 1977, the number was making up to a total of about 81 franchise units. After the retirement of owner, Richard Silva, the company was offered for sale, and was afterwards bought by three employees of the company. Today, the company has expanded to several units all over the United States, Canada, and Venezuela. Some of the key people in the company include Randy Wright as the CEO; and Derik Beck as the vice president of digital marketing.
Cottman Transmissions offers a wide range of services within the automotive aftermarket industry. They are not limited to only a selected aspect of automotive repairs and maintenance, but instead, they offer services in all the various aspects. They even service automatic transmissions as well as manual transmissions.
Startup Requirement for Cottman Transmissions Franchise
How much does it cost to open a Cottman Transmissions?
Is Cottman Transmissions a franchise that is expensive? What is the average cottman transmissions franchise fee? For you to be in a position to qualify and be accepted as one of Cottman Transmissions franchisees, you will need to possess a minimum liquid investment capital that ranges from $50,000 – $75,000, an initial franchise fee of $37,500, and a net worth of $100,000.
The initial total investment capital required ranges from $192,199 – $230,499. Additional fees come in the form of 7.5% ongoing royalty and $765/week advertisement royalty fee. For veterans, there is an $8,000 off the franchise fee.
Benefits and Training of Cottman Transmissions Franchise
Once you are fortunate enough to qualify as a Cottman Transmission franchisee, here are the opportunity benefits that will come your way:
- A very strong consumer market, with loyal customer base.
- You will get to receive maximum attention from Cottman Transmission as you would from your family. This is because they operate more or less as a close family knit.
- You will get to be identified with a popular brand like theirs, whose products are well recognized.
- You will enjoy support from their central corporate office in the growing of your business establishment.
- Ongoing marketing support for your business.
- Training is available at startup at the headquarters in Horsham, Pennsylvania, once you have thoroughly fulfilled the necessary requirements, and have been qualified as one of their franchisees.
- You will enjoy flexibility in working hours.
- Assurance of a growing consumer base.
- You will be assigned an operation team to help facilitate the easy transition of your business.
- There is financial assistance available to your business, but only through a third party. The financing offered will accommodate the franchise fee, equipment and inventory, and startup costs.
How Much You Stand to Make as Owner of Cottman Transmissions Franchise
How much you stand to make once you have been accepted as Cottman Transmissions franchisee, wholly depends on you and a number of factors such as the size of the establishment, its location, etc.
However, your goal is to make profits. This you must do by minimizing expenses and costs, while increasing the value of products, and boosting sales.
Ideal Candidate for Cottman Transmissions Franchise
The ideal candidate that can apply for and be accepted as a franchisee by Cottman Transmissions franchise is someone who:
- Is very outgoing and can be very friendly with their team and customers.
- Possesses some experience in management sales, or marketing.
- Is very much focused on getting results.
- Is capable of establishing and growing relationships with others.
- Is capable of leading a team.
- Possesses a strong desire and motivation to really excel.
- Is really ready for a full-time commitment.
You are not in any way required to possess a technical or mechanical know-how as a pre-requisite for joining Cottman Transmissions.
How to Open Cottman Transmissions Franchise?
If you are strongly interested in joining a winning brand like the Cottman Transmissions franchise, and you are very sure you have fulfilled every necessary requirement, it does not take much from you; simply go ahead to visiting their website on www.cottman.com and continue the sign-up procedures from there to get started.