
Snap-on Tools
Professional tools and equipment- 2023 Franchise 500 Rank
-
#20 Ranked #21 last year
- Initial investment
-
$201K - $465K
- Units as of 2022
-
4,771
Snap-On Tools, founded in 1920 and franchising since 1991, is one of the leading designers, manufacturers, and marketers of high-end tools. They boast that they offer over 22,000 products to consumers. Snap-On Tools usually sells high-quality equipment for professional use. Snap-On Tools’ focus is to support easy, safe, and professional automotive repairs. With their tools, mechanics may have an easier time fixing cars, and the brand wants to make that possible for everyone working on any machinery.
You can typically find their Snap-On wrench, talon grip pliers, or dead blow hammers all on their tool website. They also guarantee quality work for everything they create.
As a franchisee, you might supply these high-quality, innovative tools to every home, mechanic, fire station, and garage in your area. You may be a part of keeping safer vehicles on the road for your community.
Why You May Want to Start a Snap-On Tools Franchise
If you enjoy making roads safer, you may feel right at home in a Snap-On Tools franchise. And you might have a steady amount of business—vehicles always need a little TLC. With a global network of more than 4,300 franchises, Snap-On Tools have enjoyed franchising. Over 3,200 of their franchises are located in the United States.
They offer in-depth and personalized support to many of their franchisees, especially new ones. They usually provide training and marketing, and helpful managers may be there to guide you.
They might make sure your business is incorporated fully into the Snap-On Tools family.
What Might Make a Snap-On Tools Franchise a Good Choice?
To be part of the Snap-On Tools team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. It is also important that you do not forget about the presence of ongoing fees, which will include royalty and renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
Snap-On Tools generally wants people who are excited about owning and running a business to become their franchisees. You may have loyal customers and enjoy the benefits of working in an established industry. To sweeten the pot, you might get to work with other people who love tools as much as you do!
How Do You Open a Snap-On Tools Franchise?
You can open your Snap-On Tools business in a few simple steps. First, submit a franchise request form. A manager may call you to set up an online discovery meeting if you appear to be a good fit. The manager usually helps you digest the Franchise Disclosure Document, as well. Together, you typically schedule a ride-along with an existing franchisee to give you a feel of the day-to-day operations of the franchise.
Finally, you can sign up to open your franchise. A multi-day program is up next at corporate headquarters in Kenosha, Wisconsin, followed by about three weeks in a mobile store with a performance team member. After this, you should be confident and ready to get your franchise off the ground.
Snap-On Tools is willing to be with you as you start your business. By the time you open the doors of your new Snap-On Tools franchise, you may have everything you need in your toolbox.
Company Overview
About Snap-on Tools
- Industry
- Retail
- Founded
- 1920
- Parent Company
- Snap-on Inc.
- Leadership
- Nick Pinchuk, Chairman, President & CEO
- Corporate Address
-
2801 80th St.
Kenosha, WI 53143
Business Overview
- Franchising Since
- 1991 (32 years)
- # of employees at HQ
- 1,415
- Where seeking
-
This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Africa, Asia, Australia/New Zealand, Europe (Western), Canada
- # of Units
- 4,771 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Snap-on Tools franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $8,000 - $16,000
- Initial Investment
- $201,433 - $465,436
- Net Worth Requirement
- $38,126 - $54,288
- Cash Requirement
- $38,126 - $54,288
- Veteran Incentives
- $20,000 off cost of startup inventory
- Royalty Fee
- $135/mo.
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Snap-on Tools offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable
- Third Party Financing
- Snap-on Tools has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 135 hours
- Classroom Training
- 80.5 hours
- Ongoing Support
-
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Ad TemplatesNational MediaRegional AdvertisingSocial MediaWebsite DevelopmentEmail Marketing
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- Yes
- Can this franchise be run part time?
- No
- # of employees required to run
- 1
- Are exclusive territories available?
- No
Interested in ownership opportunities like Snap-on Tools? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Snap-on Tools landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Snap-on Tools ranked on other franchise lists? Find out below.
Ranked #20 in 2023
Franchise 500 Ranking
Ranked #93 in 2022
Fastest-Growing Franchises
Ranked #20 in 2022
Top Global Franchises
Ranked #1 in 2022
Top Franchises for Veterans
Ranked #1 in Tools Distribution in 2021
Best of the Best
Ranked #1 in 2023
#1 in Tools Distribution Category
Ranked #2 in 2022
Homebased Ranking
Want to stay updated on the latest franchise news?
Never miss a beat when you sign up to receive our newsletter.
We care about the protection of your data. Read our Privacy Policy
Related Franchises
Are you eager to see what else is out there? Browse franchises that are similar to Snap-on Tools.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
The 5 Items in Your Franchise Disclosure Document That Can Make or Break a Real Estate Deal
This document helps potential franchisees make informed decisions about investing in the franchise.
Gen Alpha Loves Eating McDonald's, Watching YouTube and Disney+, and Telling Their Parents What to Buy at the Store
With birth years starting in 2013, Generation Alpha is already the most plugged-in generation of children yet, developing some strikingly powerful brand affinities before they reach age 9.
Know Before You Buy: These Are The Costs Associated With Purchasing and Operating a Franchise
From initial investments to royalty fees to legal costs, take stock of these numbers before it's too late.
How Kung Fu Tea Became One of Entrepreneur's Fastest-Growing Franchises of 2023
Marketing manager Matthew Poveromo explains how the franchise brand is turning Taiwanese bubble tea into a favorite American treat.
How Blingle! Became One of the Fastest-Growing Franchises of 2023
Zach Beutler of HorsePower brands explains what it takes to turn a new franchise brand into a glowing opportunity.
Taco Bell Brawl Over a Crunchwrap Supreme Takes Being Hangry to the Next Level
This viral video is perhaps not society's shining moment.