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; continue reading to know about all the details.
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.
Check: Handyman Franchise
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
| 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 type | Manufacturing |
| Computer Software Maintenance and Development Fee | $65 per month |
| Total Outlets | 4,790 |
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
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
Snap-On Alternatives
| Company | Jiffy Lube | Redbox |
|---|---|---|
| Founded In | 1970 | 2003 |
| Initial Investment | $234,000-$372,650 | $380,000 – $453,000 |
| Franchise-Fee | $17,500-$35,000 | $49,500 |
| Total Outlet | 2,000 | 26 |
| Annual Revenue | $1.7 Billion | $546 Million |
2018-2022 Snap-On Franchise Failure Rate Breakdown
Data as per VettedBiz
| Outlet Type | Year | Outlets at the Start of the Year | Outlets at the End of the Year | Net Change |
|---|---|---|---|---|
| Franchised | 2018 2019 2020 | 3340 3327 3302 | 3327 3302 3280 | -13 -25 -22 |
| Company-Owned | 2018 2019 2020 | 121 106 139 | 106 139 137 | -15 +33 -2 |
| Total Outlets | 2018 2019 2020 | 3461 3433 3441 | 3433 3441 3417 | -28 +8 -24 |
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.
Who is the founder of Snap-On?
The founder of Snap-On is Joseph Johnson. He started the company in Milwaukee, Wisconsin in 1920 with a loan from his family and a vision to develop better tools for professional mechanics. He set out to create tools that were more durable than those available then and designed them specifically to meet the needs of professional mechanics.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.