Fund Your Franchise with Guidant

Guidant Financal Learn how to invest your IRA or 401k into a franchise. ($50k min)

Promoted Opportunities

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
National Media
Regional Media

Related Franchises

Related Articles

How One Army Veteran Made a Smooth Career Transition to Franchising

How One Army Veteran Made a Smooth Career Transition to Franchising

Snap-on Tools franchisee Greg Welch puts training into action.
Tracy Stapp Herold
The 5 Best Burger Franchises You Can Buy (and How Much They Cost)

The 5 Best Burger Franchises You Can Buy (and How Much They Cost)

How many burgers would you have to sell to make back your initial investment?
Matthew McCreary
The Most Powerful Brands in Franchising

The Most Powerful Brands in Franchising

Here are the strongest brands in franchising for 2017, ranked.
Tracy Stapp Herold
Titans of Franchising Reveal Their Secrets for Long-Term Success

Titans of Franchising Reveal Their Secrets for Long-Term Success

Paradoxically, a stable business is one that constantly reinvents itself to meet changing customer needs.
Tom Scarda, CFE
Bringing Brand To a New Market

Bringing Brand To a New Market

In franchise or dealership model you have to maintain the goodwill of the brand along with creating performance standards in terms of quality of products
Nidhi Singh

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

Reprints & Licensing
Update Your Listing
Submit New Listing
OK

This website uses cookies to allow us to see how our website and related online services are being used. By continuing to use this website, you consent to our cookie collection. More information about how we collect cookies is found here.

Regions/States List

More Franchise Rankings

Top Low-Cost Franchises

100 franchises for under $60,000

Top Homebased/Mobile Franchises

These 100 businesses can be managed from home

Fastest-Growing Franchises

These companies have shown rapid unit expansion over the last two years

Top New Franchises

The top 100 companies that began franchising in the last five years

Top Global Franchises

200 North American franchisors seeking international franchisees

For reprints and licensing questions, click here.

Previous Years Rankings

2016 2015 2014 2013 2012