Congratulations on completing your ride-along! You enjoyed a first-hand look at how a Snap-on Tools Franchise business owner utilise the Snap-on program to forge a strong relationship with the professional tool users at the locations where they apply their trade. By having these close customer relationships in which the franchise owner provides such personal service, Snap-on gleans insights into the changing needs of the customers.
Let's talk about it.
Customer Driven Selling
Snap-on have a unique method of delivering products to customers, in which after spending time on the van ride you will hopefully now have been exposed too. The method is Customer Driven Selling which compromises of:
Innovative Point of Sale System
Did you observe the franchisee business owner was equipped with a custom point of sale (POS) system, we call “Chrome.” We designed Chrome to help the franchisees stay organized and maximise their time with customers instead of losing time with bookkeeping and inventory management. Chrome has many capabilities you may have not been able to experience on your ride-along, including:
The total investment is £161,189 - £162,989
The £148,000 is divided into three areas:
The loan will initially be funded by Snap-on Tools, with repayment terms requiring weekly payments of 5% of Paid Sales for the first 104 weeks paid back automatically through your Franchise Statement. This will be interest free.
At the end of the initial term the remaining balance will convert into an interest-bearing loan with Snap-on Finance* over an additional 10-year period. Assuming you have made payments of 5% of paid sales based on current system averages, you will owe approximately £114,024 after two years.
Loan 1: INVENTORY and REVOLVING ACCOUNT (RA)
Another funding component is RA Development. The RA Development is a portion of the Snap-on financing to help you grow your RA investment with your customers, selling them tools on their RA account which you will usually collect back in 6 – 8 weeks. If you use the Snap-on financing programs, Snap-on will provide funding by increasing this portion of your loan facility.
After 9 months of operating the business you should have reached £70,000 in RA sales, which is £52,500 at cost – and the cost component is the amount financed by Snap-on (up to the relative cap on financing for this component). Your funding will then be turned off and the value of your RA balance confirmed.
Should you be successful in being offered a Snap-on franchise business and the area has an existing RA balance this would be audited and sold to you at the time you started with a 75-day recourse period.
*All individuals will be subject to a full finance application at the end of the initial funding term and is subject to approval
The £13,189 - £14,989 that you need to raise includes:
UK FRANCHISE ON-GOING COSTS ROI FRANCHISE ON-GOING COSTS
Download Mobile Store Brochure
If you are considering using our in-house financing, now is the time to review the Snap-on Franchise Finance Application and your new start budget.
You will need to send the following documentation:
You have now had a chance to read the full franchise agreement which outlines the obligations to a Snap-on franchise, is there anything you would like to ask? If you have decided that Snap-on Finance is your preferred way to finance the purchase of your Snap-on franchise business we will now review your application and budget.
The final step is a formal interview. Together, we will complete our discovery journey and answer any remaining questions you may have. If both parties feeling that this is a good fit, Snap-on will make you an offer a Snap-on Tools franchise. In preparation for the final interview be prepared to present to us your business and personal goals.
Think about your goals in two ways:
The physical act of writing down a goal makes it real and tangible and reminds you every day of what it is you intend to do.
Please complete this form to start your Franchise journey.
UKCanadaAU/NZUSAOther SelectAberdeenshireAngleseyAlderneyAngusCounty AntrimArgyllshireCounty ArmaghAvonAyrshireBanffshireBedfordshireBerwickshireBuckinghamshireBordersBreconshireBerkshireButeCaernarvonshireCaithnessCambridgeshireCounty CarlowCounty CavanCentralCardiganshireCheshireCounty ClareClackmannanshireClevelandCumbriaCarmarthenshireCornwallCounty CorkCumberlandClwydDerbyshireDenbighshireDevonDyfedDumfries-shireDumfries and GallowayDunbartonshireCounty DonegalDorsetCounty DownCounty DublinCounty DurhamEast LothianEast Riding of YorkshireEssexCounty FermanaghFifeFlintshireCounty GalwayGlamorganGloucestershireGrampianGwentGuernseyGreater ManchesterGwyneddHampshireHerefordshireHighlandHertfordshireHumbersideHuntingdonshireHereford and WorcesterInverness-shireIsle of WightJerseyKincardineshireKentCounty KerryCounty KildareCounty KilkennyKirkcudbrightshireKinross-shireLancashireCounty LondonderryLeicestershireCounty LeitrimCounty LaoisCounty LimerickLincolnshireLanarkshireCounty LongfordCounty LouthLothianCounty MayoCounty MeathMerionethshireMid GlamorganMontgomeryshireMidlothianCounty MonaghanMonmouthshireMorayshireMerseysideNairnNorthumberlandNorfolkNorth Riding of YorkshireNorthamptonshireNottinghamshireNorth YorkshireCounty OffalyOrkneyOxfordshirePeebles-shirePembrokeshirePerthPowysRadnorshireRenfrewshireRoss and CromartyCounty RoscommonRoxburghshireRutlandShropshireSelkirkshireSuffolkSouth GlamorganShetlandCounty SligoSomersetSarkSurreySussexStrathclydeStirlingshireStaffordshireSutherlandEast SussexWest SussexSouth YorkshireTaysideCounty TipperaryTyne and WearCounty TyroneWarwickshireCounty WaterfordCounty WestmeathWestmorlandCounty WexfordWest GlamorganCounty WicklowWigtownshireWiltshireWestern IslesWest LothianWest MidlandsWorcestershireWest Riding of YorkshireWest YorkshireYorkshire See our Privacy Policy on how we use your data.
Thank you for your submission!