At a Glance
Products & Services: Professional tools and equipment
Number of Locations: 4,791
Total Investment: $152.7K - $318.97K
Began Franchising: 1991
About Snap-on ToolsIn 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.
Startup Costs, Ongoing Fees and Financing
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 RequirementsNet Worth: $30,000
Liquid Cash Available: $30,164 - $80,246
OperationsFranchise 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).
|Financing Type||In-House||Third Party|
How This Franchise Supports Franchisees
- How One Army Veteran Made a Smooth Career Transition to Franchising
- A Family-and-Friends Focus Group Gave This Franchise a Thumbs-Up
- A Step Into the Unknown Pays Off for Franchising Couple
- Chipotle Just Introduced Two New Ways for You to Get Your Burrito Fix
- Do Your Homework Before You Open a Franchise Business -- or, in This Case, Five