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Snap-on Tools

2014 Franchise 500
#24
At a Glance

Products & Services: Professional tools and equipment

Number of Locations: 4,805

Total Investment: $152.7K - $318.97K

Founded: 1920

Began Franchising: 1991

About Snap-on Tools

In 1920, a particular wrench could only do one particular job, but Joseph Johnson had an idea to change that. Along with William Seidemann, he began manufacturing ten different sockets that would "snap on" to five interchangeable wrench handles, so that one tool could do the work of five. The Snap-on Wrench Company's representatives sold these new products by taking them to the customers at their places of business and demonstrating their use.

Today, Snap-on Tools franchisees sell far more than just wrenches. They offer over 22,000 products, including hand tools, power tools, diagnostic tools, tool storage and shop equipment, but the way they sell is much the same. Once a week they bring their "mobile stores"--trucks filled with their products--directly to their customers, which include car dealerships, mechanics, marinas and airports.

Franchise Units

Year U.S. Canadian International Company Owned
2014 3,309 350 927 219
2013 3,292 340 906 242
2012 3,267 347 915 256
2011 3,247 343 920 237
2010 3,219 349 923 234
Where Seeking Franchisees: Franchisor is seeking new franchise units in the U.S.,Africa, Asia, Australia/New Zealand, Canada, Eastern Europe, South America, Western Europe.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $152,692 - $318,979
Franchise Fee: $7,500 - $15,000
Ongoing Royalty Fee: $110/mo.
Term of Franchise Agreement: 10 years, renewable
Veteran Incentives: $20,000 off startup inventory
Financial Requirements
Net Worth: $30,000
Liquid Cash Available: $30,164 - $80,246
Operations
Franchise can be run from home. 8% of all franchisees own more than one unit. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: At franchisee's location: 3 weeks. At branch & regional centers : 1 week each.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations

Franchise Ranking History

Franchise 500®: #24 (2014), #26 (2013), #28 (2012), #24 (2011), #33 (2010),
Fastest-Growing: #96 (2013), #87 (2012),
Top Home-Based: #4 (2014), #4 (2013), #5 (2012), #7 (2011), #10 (2010),
America's Top Global: #29 (2013), #25 (2012), #22 (2011), #27 (2010),

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