Snap-on Tools
#34

Initial Investment

LOW: $169,503
HIGH: $350,231

Change in Units

+1.1% +53 UNITS (1 Year)
+1.6% +77 UNITS (3 Years)

Company Profile

Founded

1920

Franchising Since

1991 (26 Years)

Corporate Address

2801 80th St. Kenosha, WI 53143

CEO

Nick Pinchuk

Parent Company

Snap-on Inc.

Ticker Symbol

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.

Financials

Financial Requirements

Initial Investment

$169,503 - $350,231

Net-worth Requirement

$30,000

Liquid Cash Requirement

$33,019 - $50,183

Ongoing Fees

Initial Franchise Fee

$7,500 - $15,000

Ongoing Royalty Fee

$110/mo.

Financing Options

Snap-on Tools offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable

Snap-on Tools has relationships with third-party sources which offer financing to cover the following: 
payroll

Veteran Incentives


$20,000 off startup inventory

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: See List

Operations & Franchisor Support

Training Onsite: 135 hours

Training at headquarters: 57 hours

Additional Training: At branch & regional centers

Ongoing Support
Newsletter
Meetings
Toll-Free Line
Grand Opening
Internet
Field Operations

Marketing Support
Regional Media
National Media

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: February 10th, 2017

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