Capricorn

Capricorn Society Limited is an Australian member-owned co-operative in the automotive industry, with in excess of 12,000 members across Australia, New Zealand and South Africa. Capricorn offers services to members that simplify and support the running of their businesses.
 
Established in 1975, Capricorn trades internationally, and is managed under the seven International Principles of Co-operation. Capricorn began life as an informal alliance of independent car repairers struggling to compete against the big OEM distributers.  “It all began in 1970, with the Group 11 service station operators who were likeminded people who believed in the power of co-operation” Frank O’Conner, First Chairman of the Board, Capricorn.
 
Capricorn is an Au$ billion business that distribute its profits to more than 12,000 shareholders, who are also members, annually giving them a consistent twenty five per cent average return on their equity. “Capricorn negotiates preferred trading terms with the suppliers; we take a settlement discount off the top of the invoice, we run our business on that and all the profits we make go back to the members, who are our shareholders.” Trent Bartlett, CEO Capricorn
 
Members of Capricorn businesses consist of paint and panel shops, mechanical workshops, auto-electrical shops, auto transmission workshops, mobile mechanical services, and tyre and suspension stores. Capricorn acts as a financial intermediary between its members and over 2,000 industry suppliers.
 
Members of Capricorn have an aim to maximise the efficiency, economy and profitability of each member’s own enterprise – not to provide capital for outside investors. The co-operative model was seen to by the first members of Capricorn as a way to build purchasing power, bring competitively priced goods and service benefit to members.
 
Terent Barlet,CEO of Capricorn supports the International Year of Co-operatives “The UN-declared International Year of Co-operatives is our opportunity to show why co-operating in business is not just a good way to do business—it’s a business-like way to do good,” he concludes.
 
“I think the International Year will create a greater awareness of a very successful model, both in commerce and the community,” he says. “It will raise awareness in government, academia, professional services, regulators and the community. The community is responding now to locally based enterprise that reflects the power of the people. Co-operatives and mutuals were formed for a social purpose and to pursue it using sustainable business methods. It is time people knew what we are all about!” Terent Barlet, CEO Capricorn
 
www.capricorn.coop