CAPRICORN CELEBRATES 25,000 MEMBER MILESTONE
Capricorn is now the third-largest cooperative in Australia
Capricorn, Australasia’s largest automotive cooperative, celebrates an outstanding milestone in 2022, reaching 25,000 Member businesses across Australia and New Zealand.
It has been 48 years since Capricorn was created by 17 Western Australian Golden Fleece service station operators, seeking to gain more parts purchasing power and value by uniting as a cooperative.
Steady growth has been the hallmark of Capricorn’s success, meaning so much more than strength in numbers.
Capricorn says its success comes from being an extensive and highly effective network created by auto repairers for auto repairers.
At 25,000 plus Members, Capricorn is now the third-largest cooperative in Australia. Capricorn says it is proud of the impact it has had on Member businesses, their families and the broader automotive aftermarket industry. As a cooperative, Capricorn Members are also the owners, making them eligible for dividends if they are declared. By using their Capricorn Trade Accounts to purchase from Capricorn Preferred Suppliers, Members were able to benefit from $92 million in pre-tax returns in 2021. This equated to a Member value return of 28 percent.
Capricorn says it continues its almost five-decade-long history of successful growth while maintaining its core cooperative and ethical values of honesty, openness, social responsibility and caring for others.
“I genuinely believe cooperatives are purpose-driven organisations that have relevance and meaning for their Members’ lives every day. This is the difference between the investor model and the cooperative and mutual model of business, and it is the bedrock that makes them so special,” Capricorn Chief Executive Officer, David Fraser, said.
“Supporting our Members’ businesses and helping to make them stronger is fundamental to ensuring a positive and sustainable future. Making your business stronger is without a doubt the major advantage of being a Capricorn Member, as more than 25,000 Members across Australia and New Zealand can attest.”
Bradley Gannon, Capricorn Automotive Chief Executive Officer added “the more we grow our membership, the more opportunity there will be to add even greater value to our Members, to help them run an even better and stronger business.
“Although our size and offering have increased over the years, what hasn’t changed is our complete member focus – we still put the member at the heart of everything that we do. Together we are stronger and together we will survive and thrive in these challenging and ever-changing times,” Bradley said.
To find out more about joining Capricorn, visit www.capricorn.coop