Friday July 18
Assured Performance Board Votes to Expand Co-opThe Assured Performance Network's Board of Directors, comprised of 14 leading shop owners across the U.S., has voted to approve the expansion of their co-op with dozens of new Vendors, and as many as 200 qualified shops in 100 Metropolitan market areas. The vote effectively allows the co-op to more than triple in size with additional shops and vendors. Assured Performance can now finalize agreements with 27 new vendors who have applied to become Preferred Vendors and offer their products to Assured Performance Co-op Members with special deals and incentive rebates.
The Assured Performance Cooperative, Inc. was established in 2004, focused on representing best in class independently owned shops. By the end of 2007, Assured Performance grew to represent the largest buying group in the collision repair industry with over 3,500 total Members representing a collective buying power of nearly $4.2 Billion in all products and parts purchases. The company estimates the Co-op's market share at nearly 34 percent, or twice as large as the largest auto insurance company, or about the same as the top three carriers combined. A membership profile indicates that member shops all maintain top credit ratings (A and B credit rating only), with an average of over 28 years in business, and nearly $2.5 million in average annual gross sales. All shops must also comply with 72 other qualifying standards including licenses, permits, tools, equipment, training, facilities, payment terms and more.
“The Co-op is now operating just as it was designed. These new leading product manufacturers and vendors are hungry to grow. This enables us to provide our members with the pricing and quality products they need to be competitive and profitable,” explained Scott Biggs, founder, CEO, and Chairman of the Board. “The reward for our Preferred Vendors is that they can reach a huge buying group of the best shop buyers in highly efficient ways never before possible.”
Assured Performance also announced plans to expand its Membership in Metro market areas to as many as 200 Members. There is no upfront fee for qualified shops to participate in the Assured Performance Co-op. However, a shop must meet and comply with strict criteria and standards to be a member.
©2008 Collision Repair Industry INSIGHT