Snap-On Franchise Cost, Owner’s Salary & Failure Rate 2024

Whether you wish to run a one-man van business or grow a multi-territory operation while owning a franchise, we can help.

The finest choice you consider is a Snap-On franchise. Snap-on is a fantastic program.

It is one of the 10 Best Franchise opportunities for veterans of 2024 that you must own.
After conducting thorough research on the market, it is founded that this franchise opportunity is so excellent that it is also one of the best franchises that one must own. 

Continue reading to know about all the details.

Snap-On Franchise

About Snap-On 

Snap-on Corporation is a creator, producer, and seller of elevated equipment for commercial usage in transportation, including automobiles, heavy vehicles, machinery, sea, aircraft, and railroads.

Snap-on also sells lower-cost tools underneath the Blue-Point brand. Franchisees are granted the power to establish a franchised mobile store by Snap-on.

As a franchisee, you get your own company, selling high-quality maintenance and testing equipment and supplies to a secured list of phone numbers.

Your path is your duty because the places on your contact’s schedule are not allocated to any Snap-on Tools franchisee.

You run your business, set your hours, and manage your client connections, and Snap-on provides you skills and information you need to succeed.

Snap-On History

Snap-On History

Joseph Johnson and William Seidemann started the Snap-on Tool Firm in Milwaukee, Wisconsin, in 1920.

The company made and distributed ten connectors that “snapped on” to five convertible grips. In 1974, the business established a wrench-forging operation in Elizabethton, Tennessee.

Snap-on constructed a production facility in Johnson City, Tennessee, the following year and shuttered it in 2007.

AutoCrib Inc., situated in Tustin, California, was purchased for $36 million in September 2020.

Snap-On Franchise Model

Cost Or FeesAmount
Initial Investment$175,146 to $411,941
Initial License Fee$8,000 – $16,000
Net worth$35,677 – $53,366
Monthly License Fee$130 per month
Industry typeManufacturing
Computer Software Maintenance and Development Fee$65 per month
Total Outlets4,790

Snap-On Finance Assistance

Specific funding plans are available through the franchisee and Snap-on Credit, as detailed in the FDD.

Snap-on-Finance may offer franchisees a budget to support some original purchase capital expenditures incurred if they meet all of the criteria.

Moreover, Snap-on Finance may also provide loans to franchisees to pay initial investment fees and costs for a second franchise, fund their RAs, or raise capital for their firm. Snap-on Corporation owns Snap-on Finance.

Snap-On Franchise Training & Support

Snap-On Franchise Training & Support

The company offers store leadership training to franchisees before operating the franchise.

Franchisees or their franchise owner must complete Snap-on Franchise Store Leadership Education.

About 84 hours of training sessions and 135 hours of on-the-job learning are required.

Snap-on can transfer the training course or require training online at any moment.

It is primarily stationed in Grapevine, Texas. When franchisees commence operations, the franchisor provides field-first training.

You must also access the information about Snap-On Franchise dealer profit, owner salary, and failure rate 2024 for better decision-making.

How Much Does A Snap-On Franchise Owner Make?

The salary of a Snap-On franchise owner can differ depending on their location, store size, daily operations, expenses, etc.

On average, a Snap-On franchise, however, can make anywhere between $50,000 and $200,000 in annual profits.

Snap-On Alternatives

CompanyJiffy LubeRedbox
Founded In19702003
Initial Investment$234,000-$372,650$380,000 – $453,000
Total Outlet2,00026
Annual Revenue$1.7 Billion$546 Million

Frequently Asked Question

Is Snap synonymous with Snap-On?

Snap-On creates the tools that mechanics need to repair autos. Investors may have spotted a Snap-On vehicle at a car dealer from period to period. Snap is a photo-editing tool that has deer-face filters.

What is the procedure for dealing with Snap-On dealers?

Franchisees are granted permission to establish a franchised portable store by Snap-on.

Is it wise to invest in Snap-on?

Snap-On Corporation may be cheap, according to valuation criteria. A Bargain Score of B is a fantastic choice for private equity.

Is Snap-On a franchise?

Yes, Snap-On is a franchise organization.

How much does a Snap-On franchise cost?

Opening a Snap-On franchise requires a franchise fee of up to $8,000 – $16,000, with a total initial investment of $175,146 to $411,941.

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