Snap-on Tools has announced that for the first time in its 100-year history it has reduced start-up costs to £9,000 plus working capital. This is a direct response to the increasing challenges faced by prospects in today’s economic landscape, making its model more accessible to prospective franchisees.
Byron Miltz, UK managing director of Snap-on Tools, said: “We believe everyone deserves the chance to change their life and achieve their dreams. This 2025 incentive is designed to help people do both.”
In-house finance programme
Snap-on explains that it offers funding assistance to prospects through an in-house finance programme, where a business loan helps to fund the purchase of their franchise and, as part of the new incentive, is interest free for two years.
Miltz continues: “Our aim was to remove as many barriers as possible, be it initial cost or ongoing affordability. The strength of our model has been proven for more than 60 years in the UK and 100 years internationally – we want more people to be able to benefit from being a part of it.”
Many franchisees join Snap-on with little to no experience of the tool trade, and most have never run a business before, which Miltz says is not a problem: “We look for individuals with great people skills who can build relationships with customers and have a passion for selling.”
Snap-on adds that its training and support programmes equip franchisees with the knowledge, skills and confidence to run their own business, and last year franchisees had average paid sales of £400,682 with no percentage-based royalty fees to pay.
Posted: 11th February, 2025