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Snap on Tools

United States of America
Quick facts
Year business began:
1920
Franchising since:
1991
Estimated number of units:
4,689
Snap-On Tools was founded by Joseph Johnson and William Seidemann in 1920. They pioneered the idea of interchangeable sockets and wrench handles, and the company manufactured ten sockets that would 'snap-on' to five interchangeable handles. The company's marketing success came from Johnson and Seidemann, working with Stanton Palmer, bringing their products directly to customers to demonstrate their benefits. Newton Tarble then began working with the company as the workload increased. In the 1950s, Snap-On began using walk-in vans to showcase their products to potential customers.

Snap-On is now the world's number one professional tool brand. They have 22,000 products on offer including hand tools, power tools, diagnostic tools, tool storage and shop equipment, and operate in more than 130 countries.

Franchise System

Franchisees receive a license to operate a franchised mobile store, which is a high-tech van filled with Snap-On products and allows customers to shop anywhere. There are many benefits in operating a Snap-On franchise: franchisees keep 100% of their profits, exclusive territory retained, in-house funding assistance is available, training and support provided and a proven franchise model is on offer.

Franchisees are transported to Snap-On's training school in Dallas for an initial week of training which covers product knowledge, sales, customer service, business administration, accounts and computer training. Ongoing support is also provided, including a dedicated franchise developer for their first 12 months, five full days of on-van support after launch, a further 12 days on-van support within the first five weeks, monthly franchisee forums, promotional materials delivered fortnightly and head office telephone support line.

Financial Information

· Required investment: £149,640 - £309,213
· Capital Required: £29,155 - £44,295
· Upfront fee: £6,625 - £13,241

Sources
https://www.entrepreneur.com/franchises/snapontools/282805
http://www.snaponfranchise.co.uk/
http://www.snaponfranchise.co.uk/company/
http://www.snaponfranchise.co.uk/brand/
https://www1.snapon.com/corporate/companyhistory.nws
http://www.snaponfranchise.co.uk/why/

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