What options are there to help me finance my Snap-on Tools franchise?

Snap-on Tools have their own in-house finance program. Snap-on Credit is able to offer loans to start-up franchisees, subject to loan approval. All you need to do is raise the deposit through your own means.

However, you are not required to use Snap-on's finance program. You can also seek support and funding from a bank or financial institution.

We recommend that you commence discussions with your bank as soon as possible to understand your lending capacity and whether investing in a Snap-on Franchise is a viable option for you.

Be sure to do your due diligence, we require that you seek financial and legal advice.

What ongoing fees are payable to Snap-on Tools?

At Snap-on we are focused at helping you to sell more tools. The monthly management fee is currently $495 +GST (as at 2019). There are no ongoing royalty, marketing or advertising fees. Snap-on is the only supplier of products for the franchisee, so the franchisee needs to pay Snap-on for product.

Other regular fees cover the group insurance programs, software licences and accounting support.

How long does the process take to become a Snap-on franchisee?

As a guide the expected length of time between first contact and opening your business is 6 - 10 weeks. The, timeline, however is influenced by a variety of factors, such as time taken to complete the application, ride days, finance approval etc.

Where can I open a Snap-on Franchise?

We have a mix of existing businesses for sale and new routes being developed. Our team will be able to discuss potential route options with you.

I want to buy an existing Franchise that is for sale. Do I still need to go through the application process or can I deal directly with the existing franchisee?

If you wish to proceed with the purchase of an existing business for sale, you will have to complete the application process to be granted final approval by Snap-on.

Where will I find my customers?

As a Snap-on franchisee you receive a route that has been surveyed by Snap-on to identify potential customers, where their place of business is and what sort of industry segment they are in; so you are ready to trade from day one.

How does a Snap-on franchise agreement work?

The term of the agreement is 12 years (6+6 years, if offered).

The franchise disclosure document provides a franchisee candidate key information about the Snap-on franchise system and a copy of the franchise agreement which they will be entering into. This document will assist you in conducting your due diligence and to make an informed decision when purchasing a Snap-on franchise.

The franchise agreement is the contract between Snap-on and a franchisee. It sets out each party’s rights and responsibilities.

What are the qualities that Snap-on is looking for in a franchisee?

At Snap-on we are looking for business minded individuals who share our values; who take pride in their work, are passionate, driven, motivated and have a strong work ethic.

Mechanical experience is not required, but you must have people and basic computer skills, plus a willingness to learn.

Do I need to be a qualified mechanic to become a franchisee with Snap-on Tools?

No. Whilst we have franchisee within our network who are trade qualified, this is not a requirement for our franchisees. This is a sales and customer service environment and anyone with those skillsets is likely to find themselves comfortable selling Snap-on products. Our comprehensive training program teaches the skills we believe you need to operate a Snap-on franchise business, including learning our unique sales techniques.

What if I do not have experience in running a business?

Previous experience in running a business is an advantage but not necessary. Joining the Snap-on franchise network will give you access to Snap-on's comprehensive training program and you will have a dedicated franchise development manager to support you in the practical aspects of running your business when you start. Then you will receive ongoing support through a dedicated Sales Development Manager.

What ongoing support and training will I receive?

As a Snap-on franchisee you find yourself in a supportive and extended network. You will be informed and kept up to date with weekly newsletters, monthly sales meetings, annual conferences, ongoing training and product information sessions, new franchise training and annual franchise development training. Snap-on also assists franchisees in complying with any regulatory requirements franchisees may have.

Does Snap-on Tools have opportunities for multi-site franchise agreements?

Snap-on may offer the opportunity to own multiple Snap-on franchise businesses to existing franchisees that have a proven track record, have the financial ability to acquire an additional business, and have a business plan to operate multiple businesses.

Do I have to work in the business full time?

Our most successful franchisees work hard and are actively involved in their business and participate in running all the Snap-on programs. Franchisees are required to work in their business on a full
time basis.

What is the time commitment required to be a franchisee with Snap-on Tools?

A Snap-on franchise requires dedication and commitment to build your asset. Franchisees are business owners, working hands on within their business, on a full time basis visiting and servicing their customers every week.