Many franchisees have chosen to grow their business by hiring a Franchisee employee to assist them in building their business. Although, a Franchisee hiring an employee does not guarantee continued growth it may further spark the entrepreneurial spirit. A successful growth-oriented Franchisee may also have the desire and skills to continue their growth through the purchase of an additional franchise. Contact your local Snap-on Tools Regional Franchise Manager for more information about Additional Franchise opportunities.
Franchisees may hire employees at anytime to assist in their business. We highly recommend that all Franchisees with an Additional Franchise have an employee assisting them with sales so that the Franchise business owner can be off the van to develop their Franchise Store Managers and other employees. Snap-on Tools recommends you consult with your legal and financial advisors prior to hiring employees.
Do you have questions about how to hire employees to assist with your business and how to stay compliant with payroll for all your employees? Many third party companies can answer your questions. For you convenience, we have listed two companies that are familiar with Snap-on Tools and have established relationships with some of our Snap-on Tools Franchise business owners.
Additional Franchise Opportunity
Snap-on Tools Franchise business owners that illustrate consistent growth through utilization of employees, exceptional operational skills, and proven business merit may also have the desire to purchase an Additional Snap-on Tools Franchise. Snap-on Tools encourages interested franchisees to explore the possibility with the local Snap-on Tools Regional Franchise Manager. If an Additional Franchise business is awarded it must be operated under the then current Snap-on Tools Franchise requirements.
Rights and obligations under the Additional Franchise are granted exclusively to the Franchisee signing a contract with Snap-on, not to any employee of the Franchisee.
If you are purchasing an Additional Franchise, you will receive inventory having a franchisee cost of $20,000 at no cost to you. This incentive is designed to assist you in starting your Additional Franchise and provides ongoing continuity in the operation of that franchise. For that reason, in order to earn the inventory incentive you must operate the business under the Additional Franchise for a minimum of three years unless you transfer it to a franchisee approved by us.
Franchisee Store Manager Training
Snap-on offers specific training for the Franchisee Store Manager you hire to operate your Additional Franchise. This training program is outlined below:
- 10 Days of Extensive Classroom Training
- Customer Driven Selling
- Selling and Collection Techniques
- Product Knowledge
- Snap-on Credit Financing for Customers
- Business Management
- Point of Sale System Training (Chrome)
- A Minimum of 3 Weeks Training in Your Store
Potential Franchise Growth Cycle
Your experience building relationships can give you an advantage in a new Snap-on Tools Franchise business where your assistant also has established relationships in your primary franchise route. This is why we recommend taking the driver's seat in the new franchise while your assistant maintains or grows the primary franchise route.
Snap-on Tools Franchise Business Owner Self Assesment
Is My Current Business Maximizing Growth Potential
- Have I consistently grown my Snap-on Tools Franchise business by utilizing my Franchisee Assistant?
- Have I leveraged kickoff, SFC and FPT meetings to grow my Snap-on Tools Franchise business?
- Have I taken full advantage of the current Snap-on interactive events such as, Rock n' Roll, TechKnow and other Snap-on branded events?
- Have I been able to maximize Snap-on Tools "Partners in Profitability" promotions and other seasonal marketing plans within my current Snap-on Tools Franchise business?
- Have I successfully developed my Franchisee Assistant for additional responsibilities in my Snap-on Tools Franchise business?
Is Now the Right Time?
- Have you discussed the opportunity with your spouse and/or loved ones?
- What are your short and long term goals?
- Are you ready to make the investment in time and resources?
- Who will be your Franchise Store Manager?
Have a Plan!
We recommend that if you are seriously considering the additional franchise opportunity to have a plan. Here are some topics to consider:
- Business Experience
- List of Calls
- Business Management
- The Showroom on Wheels
To further assist in the planning process schedule a meeting with your local Snap-on Tools Regional Franchise Manager who can share sample Business Plan and Operational Expense templates.
Will I Require Financing?
Financing is available for the Additional Franchise Opportunity. Remember to speak with your financial, tax and /or legal advisors to determine your financing options:
- Snap-on Credit
- Your bank
- SBA Financing
- Cash payment
Finally, a Franchisee must be a Legal Entity. Consult your financial or legal advisor for advice on setting up your corporate entity. Below is a document providing the Corporation/Limited Liability Company Requirements.
Contact your local Snap-on Tools Regional Franchise Manager and schedule an informational meeting to explore the possibility of an Additional Franchise!