Starting Your Own Snap-on Tools Franchise
Starting as a simple invention, with five interchangeable wrench handles for the just one gadget, the company has now a wide-range of new products ready for shipment anytime, anywhere in the world. To date, the company has become one of the most prolific manufacturer and makers of all-in-one tools in the market.
So, why wait? Invest now in the Snap-on Tools and be one of the satisfied franchisees of the company.
The Snap-on Tools Company requires each of the potential franchisee to have a minimum business experience in products sales. Snap-on also requires investors to have at least $30,000 net worth and a cash liquidity of $18,800 to $60,000. This is probably a lot cheaper than any other investment capital requirement in the market today.
Potential franchisees are usually those who have experience in talking to people, especially on products and services. This usually works best with people in the call-center business since they have most of the experience required in convincing clients to buy a product. A single franchise can be operated from home. The company said that around 3.4 percent of its franchisees own more than one unit. However, the company does not allow absentee ownership.
Cost of Investment:
The Total Investment cost of one franchise can reach from $16,700 to $278,400 (Initial Franchise Fee of $5,000 to $15,000 already included). The company will also deduct around $78 per month for royalty fee. The Company also requires each franchisee to commit around 10 years for each franchise. The term of agreement is renewable.
Return of Investment:
With more than 3,5000 stores worldwide, the company has become one of the top businesses in the automotive after-market category. The brand name itself serves as a very good stepping ground to the franchise. To date, the company sells more than just simple wrenches, now it has over 19,000 different products ranging from power tools, hand tools, tool storage, auto diagnostic tools, and other shop equipment. The return of investment will depend on what the people think to the products, that is why the company launched the “mobile stores” or trucks filled with Snap-on products to give customers a firsthand try of the new innovative products.
Training and Support:
Snap-on will provide qualified applicants with extensive lectures and trainings about their products. The store’s staff will also be brief by the company so that they can orient the customers on what products are available in the market and what is suited for them. Management training can also be provided to you and your management staff should you need one. Annual convention and regional seminars are also available. Other support available will be made through Newsletter, Toll-free phone line, Grand opening, Meetings, and Security/safety procedures.
Promotion and Advertising:
Other ongoing support that the company provides is through meeting, seminars, newsletters, grand openings, and internet access for fast and easy way to advertise the products in your area.
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