Snap-on business model Q&A
Do you anticipate growth in customer demand in your specific market? Why/Why not?
Trades are becoming the place to be. More and more young people are forgoing long and exhausting uni courses to pursue a career that can offer them more money, more satisfaction and almost guaranteed employment. With this rising trend towards more tradespeople comes the need for more tools – and Snap-on are the best tools you can get.
What is the start-up costs and on-going fee structure to become one of your franchisees?
For $40,000 plus stock plus leased vehicle, Snap-on franchisees gain a business that’s ready to roll, backed by one of the world’s most prestigious and longest established brands, plus a sensational finance package from the ANZ Bank. Franchisees pay a flat management fee of $400 per month for the brand, systems, and franchisor support. No royalties – no fuss.
What are the top three attributes you are seeking in a prospective franchisee?
I don’t know about the top three, but we’re looking for people enjoy dealing with people, like variety in their working day, would take pride in selling the best and want to get ahead. But most of all they must be passionate about their business – our most successful franchisees love what they do.
What makes you stand apart from your competitors?
You can buy a set of spanners for loose change at the local hardware store but they are not going to have the features or stand up to the rigours of constant professional usage. Snap-on tools are worshiped by tradespeople for their innovation and reliability. For almost a century they have been a status symbol, handed down through generations. And professional tool users know that they are well worth the money.
What is the average revenue/profit your franchisees are currently earning per annum?
The Franchising Code of Conduct prevents us from disclosing proprietary information at these early stages of the recruitment process. Suffice to say that Australian Financial Review’s Smart Investor Magazine rates us among the top seven franchise systems in Australia in terms of return on investment.
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