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Snap-on Tools Ltd

The company manufactures and sells tools for automotive repairs that consist of a range of sockets that ‘snap on’ to interchangeable wrench handles

£ 16,037 Minimum Investment

Snap-on Tools Ltd In Brief

  • Description

    The company manufactures and sells tools for automotive repairs that consist of a range of sockets that ‘snap on’ to interchangeable wrench handles

  • Business Type

    Motoring Services

  • Minimum Investment

    £ 16,037

  • BFA Member

    Yes

    What does it mean to be an official BFA Member?

About Snap-on Tools Ltd

Snap-On Tools was established in the US in 1920 under the name Snap-on Wrench Company. Initially the company produced and sold a range of 10 sockets that snapped on to five interchangeable handles. The tools were specifically designed for use in automotive repairs. In the 1930’s the company began to offer its clients credit and pioneered the man-in-van concept to brings tools to their customers.

For decades Snap-On supplied tools to vehicle repairers by taking vans to the mechanic’s premises. However, while the business continues to do this, it also delivers equipment, repair information, diagnostics, and systems solutions in addition to a growing range of innovative tools.

In 1965 Snap-On launched in the UK. Since then the company has grown to seven branches and more than 430 franchises operating nationally and in Ireland. The distribution centre is in Kettering in Northamptonshire and it provides services and support to franchisees across the country, Ireland, Europe, and Scandinavia.

The Snap-On Tools franchise is committed to growing a network of successful and fulfilled franchisees, and places emphasis on training and supporting franchisees to this end. The company aims to go beyond the man-in-a-van concept by fostering a sense of team and camaraderie and promoting service excellence and innovation in all franchisees. Women are as welcome as men to apply for a franchise.

What services does Snap-on Tools offer its customers?

Snap-On Tools’ customers still include vehicle repairers but now extend into other industries, too. These include education, energy and natural resources, transport, defence and government, and aerospace. The services are products used for maintenance, manufacturing, and assembly.

The range of products and services offered through its network of franchisees include both hand and power tools, industrial productivity solutions, and sophisticated hand held diagnostic technology and software. All products can be purchased from a franchise or on-line.

The goal of the Snap-On Tools’ services and products are to boost productivity and safety for customers.

 

How does the Snap-On Tools franchise model work?

A Snap-On Tools franchisee owns and runs a mobile tool store. Your job is to sell and deliver tools to auto technicians, mechanics, industry workshops etc. in your area. You must visit them regularly – sometimes daily – to show them new tools or assist with upgrades or trade-ins on existing tools and equipment.

When not with clients you will perform all the tasks necessary to keep your business successful: administration, checking inventory, ordering stock, and keeping your van clean, tidy, and organised.

Franchisees can opt to be man-in-van or woman-in-van operations or run multiple vans. You can also operate in one or multiple territories depending on your goals and ambitions. Each franchisee is teamed up with a Franchise Support Team who are always available to assist and support.

 

How to invest in a Snap-on Tools franchise

If you are interested in becoming a Snap-On Tools franchisee, or you want more information, fill in the form on this page. The Snap-on Tools franchise team will then contact you to have an initial discussion and answer your questions. Should you wish to take it further, they will inform you of the next step.

 

How much does a Snap-on Tools UK franchise cost?

The franchise fee for Snap On Tools is £24,143 + VAT. However, the franchise does sometimes have a special offer in place. For instance, for those who sign up and launch their franchise by June 2019 the fee is £11,755 and the franchisor will cover the rest.

Snap-On Finance offers business loans and the division is fully regulated and government-approved.

This help-to-buy scheme takes the form of a six-year interest bearing loan. Repayments commence when your franchise has been up and running for three months.

 

What will I get from Snap-On for my investment?

Snap-On Tools offers franchisees the following:

 A license to trade under the Snap-On brand
 A territory in which to conduct business
 A lease on a state-of-the-art, branded van
 Starter stock to get your business off the ground
 Training: product knowledge and application, marketing, sales, customer service, customer management, business administration, basic bookkeeping, and computer skills (for the stock and sales system).
 A dedicated mentor will ride in your van with you for the first four weeks after you open to train, support, and guide you
 Ongoing support: monthly franchise forums, quarterly regional forums, two conferences a year, an annual tool show, new product launches, 31 days of on-van support, 51 support days within your first six months, regular reviews to identify areas in your business that can benefit from further attention and growth, and access to a support line.
 Assistance with sales and marketing: the company’s National marketing strategy, promotional materials sent to all franchisees fortnightly, and the Rock ‘n Roll and TechKNOW Trucks that are brought to your territory along with their respective marketing plans and promotional materials for the events.
 The ability and mechanism (National Franchise Advisory Council) to have your say in terms of the franchise you are a part of.

 

Do I need experience automotive experience to run a Snap-on Tools franchise?

No. You do not need automotive or mechanical experience or even a background in business. Snap-On franchisees must have excellent people skills, the ability to build strong relationships with customers, drive, ambition to succeed, and a willingness to put in the necessary hard work.

 

Are there any monthly fees I’ll need to pay?

There are no advertising fees or royalties to pay to the franchisor and you retain all your profits. However, you will have several overheads including loan / financing repayments, stock, insurance for your van and contents, professional indemnity cover, the lease fee for your van, fuel, vehicle maintenance, and other day to day costs of running a business.

 

Will I be able to get an area of my choice?

The franchise wants an extensive national network and has several new territories available. In addition, there are also sometimes franchises available for resale. You would have to enquire directly with Snap-On about the area or location you want.

 

What are the average earnings and profits which I can expect the generate from a Snap-On Tools franchise?

According to a 2018 article on Journolink, franchisees can anticipate average sales in excess of £6,000 per week. This is the gross amount before overheads etc.

 

Is income guaranteed?

Income is not guaranteed as it depends on several factors including the amount and quality of work done by the franchisee.

 

How soon will I start making money?

You will have assistance with pre-launch marketing, but how soon you generate sales and therefore income depends on you. You set your schedule, determine your workload, and seek out business. In all aspects Snap-On will offer you support and guidance.

 

Do I need to do my own marketing?

You have the benefit of a national brand, known products, a proven business model, and additional ongoing sales and marketing assistance. This takes the form of regular promotional materials and events such as the Rock ‘n Roll and the TechKNOW Trucks.

 

What sets the Snap-on Tools franchise apart from its competitors?

Snap-On has won an array of prestigious awards, and the franchisor prides themselves on offering a business model that has been proven over 90 years. Franchisees benefit from solid training over an extended period, the power of the brand, having an exclusive territory, and ongoing support.

Interested in this franchise opportunity?

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Snap-on Tools Ltd

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Snap-on Tools Ltd

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For further information, enquire today!

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