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2021 Franchise 500 Rank
#48 Ranked #31 last year
See the Full List
Initial investment
$169K - $382K
Units as of 2021
4,772 1.3% over 3 years

Company Overview

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.

About Snap-on Tools

Industry
Retail
Founded
1920
Parent Company
Snap-on Inc.
Leadership
Nick Pinchuk, Chairman, President & CEO
Ticker Symbol
SNA

Franchising Overview

Franchising Since
1991 (30 years)
# of employees at HQ
1,493
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees in the following international regions: Africa, Asia, Australia/New Zealand, Europe (Western), Canada

# of Units
4,772 (as of 2021)

Franchisor Information

Corporate Address
2801 80th St.
Kenosha, WI 53143

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
$169,223 - $382,235
Net Worth Requirement
$37,583 - $55,545
Cash Requirement
$37,583 - $55,545
Veteran Incentives
$20,000 off cost of startup inventory
Royalty Fee
$130/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: 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
85 hours
Ongoing Support
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
National Media
Regional Advertising
Social Media
Website Development
Email 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

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 #48

Franchise 500 Ranking

Ranked #23

Top Global Franchises

Ranked #1

Top Franchises for Veterans

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021