PORTLAND, Ore. (Feb. 25, 2015) — Tire Factory members attending their annual meeting in Portland got some great news from leadership: The co-op saw $3.8 million in profits and volume bonus payouts for dealers last year.
More than 450 attended the group's 31st annual meeting.
“It's exciting to announce another great year,” said John Kreidel, Tire Factory CEO. “Our members buy as a group and advertise and warranty what they sell under the Tire Factory name. The profits come back to them, and the volume bonuses are paid directly to them.
“Profits and volume bonuses totaling $3.8 million make for lots of smiling faces.”
Tire Factory's business model allows members to buy direct in small quantities from regional distribution centers at lower group prices and earn rebates on specified purchases, according to the co-op.
Eric Gill, chairman of the Tire Factory board, said that every Tire Factory store owner “focuses on satisfying their customers. Tire Factory's buying and distribution staff focuses on getting them the right tire at the right price.
“The combination is unbeatable. It's helped us grow in the past, and will help us grow in 2015 and beyond.”
Portland-based, member-owned Tire Factory, which launched in 1984, has grown to more than 200 retail locations in 15 western states, with retail sales topping $300 million. The group operates three distribution centers — in Portland, Denver and Salt Lake City.
More information is available on the Tire Factory website.
