About Snap-on Tools
Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and system solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.
Snap-on also derives income from various financing programs to facilitate the sales of its products. Products and services are sold through the company’s franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.7 billion, S&P 500 Company headquartered in Kenosha, Wisconsin.
In 1920, Snap-on started with an idea that revolutionized professional tool sets across the industry. Joseph Johnson and William Seidemann pioneered the idea of taking five handles of different configurations and ten sockets of varying dimensions and fashioning them to “Snap-on” to each other interchangeably. The concept of “Five Do the Work of Fifty” was just the start of our relentless determination to be the best, providing practical, original and inventive solutions to the professionals we serve.
True to Our Values
After a century of business, Snap-on has evolved into a modern company, but our dedication to innovation remains as strong as it was in 1920. Even today, our research never stops. Product development remains a top priority, and so does our loyalty to our customers. In fact, many of our products are a direct result of technician input. Our customers have learned to look to us to provide them with the exact solutions they need.
We never forget where we came from and why we do what we do. Our job is to deliver confidence to those performing work of consequence where second best is not an option. Year after year, we continue to give our customers the tools they need to succeed.
The Snap-on Difference
Today, the principal value-creating mechanism for Snap-on is our ability to understand work and to transform resulting insights into new and better solutions for customers. We do this by:
– Observing the work being done by the end-user in the workplace
– Applying those observations to conceive and create new ideas
– Taking raw materials into our plants and applying our engineering expertise to build new products
– Delivering those solutions directly into the hands of the end-user
– This vertical integration and unique touch with customers in their place of work is what differentiates Snap-on from many other manufacturers.
Why a Snap-on Tools Franchise?
Snap-on grants franchisees a license to operate a franchised mobile store. As a franchisee, you own your own business, selling high quality repair and diagnostic tools and equipment to a protected list of calls. The locations on your list of calls are not assigned to any other Snap-on Tools franchisee, so your route is your responsibility. You are in charge of your franchise, setting your own schedule and managing your customer relationships, and Snap-on offers you the resources and training you need to do your best work.
Why should you choose Snap-on? We can think of many reasons.
– Owner operated
– Transferability of business assets
– Opportunity to own multiple Snap-on franchise businesses for qualified franchisees
– Finance programs may be available for you and your customers
The Snap-on Franchise Opportunity
Our Proven Business Model – We have been around for a long time, so we know how to grow with the ever evolving tool industry and economy. However, we never stray from our proven business model that has made Snap-on the top tool brand since 1920. It includes:
– Custom software
– Sales support
– Established brand
– R&D engine
– Distribution system
Our business model has worked for franchisees since the beginning, it is working for our current 4,600 franchisees around the globe and it could work for you.
Our Support System – Although Snap-on franchisees own their own businesses, we provide continuous support and training. We license you to service a list of shops with no competition from other Snap-on Tools franchisees, making it possible for franchisees to learn from each other and share ideas. However, the support does not end there. Even before you start your journey as a Snap-on franchisee, a Franchise Manager will be available to you to answer all of your questions and walk you through the discovery process. Once you become a Snap-on franchisee, our support system includes the below Snap-on Franchise Performance Team Members.
Snap-on’s Franchise Performance Team members are experts on training the Snap-on Tools program, and their experience can be useful as you launch your business. Part of their job is to ride along and support new franchisees during their first three weeks in business, and they are someone you can call with questions at any point during your time as a franchisee. In addition, to Snap-on’s Franchise Performance Team you also have available support from our world class Customer Care Center and our affiliate Snap-on Credit.
A major benefit of being a Snap-on franchisee is being associated with the Snap-on brand. You will enjoy the value of being associated with the trusted and iconic Snap-on brand. The Snap-on legacy is immediately recognized and you will become the local face of Snap-on. From there, your regular and professional service form the customer relationships that build your Snap-on Tools franchise business.
Our Training For You – We want people as good as our tools and our training programs help provide individuals with skill sets to operate their Snap-on franchise business. You don’t have to have a background in tools, franchising or even sales to own a Snap-on Tools franchise. You do need the desire, drive and self-discipline to learn the proven Snap-on Tools program. All new franchisees attend approximately 10 days of excellent initial training sessions in Grapevine, Texas that include:
– Customer Driven Selling
– Planning Your Day
– Selling and Collection Techniques
– Product Knowledge
– Snap-on Credit Financing for Customers
– Business Management
– Point of Sale System Training
After the initial training, new franchisees will receive hands-on training in their mobile store. For the first three weeks you have your store, a Franchise Performance Team member will ride with you and provide advice along the way.
The learning does not end after you complete your mobile store training. Even the most seasoned franchisees can become better by taking advantage of continued training. You will have the opportunity to attend different trainings, conferences and meetings throughout the years. As the business environment evolves, you will witness Snap-on innovate with new product solutions for the customer and you, and, as a Snap-on franchisee, you will appreciate the opportunity to learn how to market these solutions to your customers. Your ability to provide your customers innovative solutions to a changing industry allows your business the opportunity to leverage change and continue to grow.
Top Franchise for Veterans – At Snap-on we value the hard work and sacrifice of our veterans and believe the skills built in the military can translate to owning a franchise. That’s why we offer veterans a $20,000 discount in cost of their initial tool inventory. If you choose to finance your franchise through our affiliate Snap-on Credit, they may consider your veterans discount equity and reduce the down payment for your franchise finance loan.
We are proud to be ranked the #1 Franchise for Veterans in Entrepreneur 2020 and are especially proud of our veteran franchisees!
Nick Pinchuk, Chairman, President & CEO
1991 (30 years)
Total Number of Units
4,727 (as of 2020)
Part-Time / Full-Time
Stock Ticker Symbol
How Much Does It Cost To Open A Snap-on Tools Franchise?
There are several costs associated with opening a Snap-on Tools franchise. There is typically a franchise fee set by the franchisor, which covers the costs of opening a franchise location. Some other commons fees include equipment fees, marketing fees, licensing fees, insurance, and taxes, to name a few.
Some franchises may have a weekly fee that the franchisee pays for operating a Snap-on Tools franchise. The weekly fee for opening a Snap-on Tools franchise is not specified.
The full breakdown of these fees can be found in the Financial Disclosure Document (FDD) provided to franchisees by the franchisor. The FDD report will contain additional information such as whether the franchise is renewable (Snap-on Tools Is Renewable) and does the franchise offer financing support (Snap-on Tools Snap-on Tools has relationships with third-party sources which offer financing to cover the following: payroll).
Snap-on Tools Company Details
Here are some additional details about Snap-on Tools.
|Parent Company||Snap-on Inc.|
|Initial Investment||$8,000 - $16,000|
|Net Worth Requirement||$37,999 - $55,377|
|Veteran Incentives||$20,000 off cost of startup inventory|
|Cash Requirement||$37,999 - $55,377|
|Term of Agreement||10 years|
|Run from Home||Yes|
Training and Support Offered By Snap-on Tools
Snap-on Tools offers several support options to its franchisees. With 4,727 (as of 2020) units, Snap-on Tools aims to provide support to each franchise owner to help them operate a successful franchise location. Snap-on Tools offers 135 hours on the job training, 85 hours classroom training, and No additional training.
Training and Support Offered
Here are the support options offered by Snap-on Tools.
|On-The-Job Training||135 hours|
|Classroom Training||85 hours|
Is Snap-on Tools Right For You?
Snap-on Tools has gone digital! Here are all of the ways you can find Snap-on Tools online. Oftentimes, you can reach out to current franchisees of Snap-on Tools online. Current franchisees may be able to offer personalized insights into what it is like owning a Snap-on Tools franchise and offer tips to running a successful Snap-on Tools franchise location.
Why Should You Start a Snap-on Tools Franchise?
Investing in a Retail franchise such as Snap-on Tools can kickstart your franchise portfolio. Our goal at Why Franchise is to provide you with the resources needed to be a successful franchise owner. Fill out the form below to get more information about Snap-on Tools franchise and we'll be in touch soon!