It is important to know that reading and understanding the FDD is very important but easily overlooked lots of information. Thank you for sharing the message and very surprising to see a company like Snap- On are that much deceiving
I had no idea this was a thing. Snap-On rebuying a franchise so people won't see the failures is very sketchy. Snap-On recycling the same failed business multiple times is disgusting. I feel like that should be legally classified as fraud. Damn, Snap-On makes Subway look like a good franchise.
"Churning" as they call it unfortunately happens often in franchising. Most franchise agreements force arbitration so franchisees are at a disadvantage. Thx for watching 🙂
When I ran collision centers years ago before I retired, I would find these guys inside my shop taking away my techs time…. They knew if they asked they would need an appointment with us. I had to run them off a lot. They look to prey on the “new mechanics or techs”
Were you an owner/ corporate officer or hired hand foreman in a chain store operation? As much as mobile tool vendors are a nuisance taking your tech's time they are extending to them unsecured handshake credit free of interest, to invest some of their own wages acquiring tools they need to be your productive useful employees. It would be nice for them to be able to work all their calls during lunch and break times on payday but as Franchise City points out they work 60+ hours /week or more just as you did. You 'running them off' was rude and coarse, there are enough real problems running these businesses that can put them out, mostly your men defaulting on paying to agreed terms on installments or skipping out and "ghosting," strangling the cash flow. No matter what Snap-on (or competitor counterparts) gets paid. Other congenial places to conduct more profitable business without unnecessary stress could be found to replace your insignificant collision centers. Was your employee turnover high ?
For probably 90-95% of tools Harbor Freight brands will be more than adequate, and for the remaining 5-10% you can still get better brands that are still much cheaper than Snap-on. Yeah, you may not look as cool using inexpensive tools, but your 401k balance will look much, much better 20-30 years from now since that money will have been working for you instead of putting your Snap-on dealer's kids through school.
None of them are without challenges. The "best" franchise is unique for everyone based on their individual market and operational preferences. We did Matco recently: ruclips.net/video/lNr54ZBsQqQ/видео.html Thx for the question.
How about Cornwall tools? I heard they were the easiest to get into and didn't charge franchise fees. You just pay for your truck and tools and that's it
$164,525 to $293,825 initial investment including 55K inventory. They had almost 100 dealers leave the system last year - I would want to know why and I would speak with many of them. Lots of lawsuits in their disclosure document - make sure you read them. Having no royalties is not necessarily a better deal for the owners, the company just has a different revenue model how they make their money. At the end of the day net profit is what matters. If you are actively looking for a franchise feel free to give us a call: www.franchise.city/our-services Thanks for watching.
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It is important to know that reading and understanding the FDD is very important but easily overlooked lots of information. Thank you for sharing the message and very surprising to see a company like Snap- On are that much deceiving
Thanks Hassan!
I had no idea this was a thing. Snap-On rebuying a franchise so people won't see the failures is very sketchy. Snap-On recycling the same failed business multiple times is disgusting. I feel like that should be legally classified as fraud.
Damn, Snap-On makes Subway look like a good franchise.
"Churning" as they call it unfortunately happens often in franchising. Most franchise agreements force arbitration so franchisees are at a disadvantage. Thx for watching 🙂
Are you high? lol subway is way worse
When I ran collision centers years ago before I retired, I would find these guys inside my shop taking away my techs time…. They knew if they asked they would need an appointment with us. I had to run them off a lot. They look to prey on the “new mechanics or techs”
Interesting! Thanks for the comment 🙂
Were you an owner/ corporate officer or hired hand foreman in a chain store operation? As much as mobile tool vendors are a nuisance taking your tech's time they are extending to them unsecured handshake credit free of interest, to invest some of their own wages acquiring tools they need to be your productive useful employees. It would be nice for them to be able to work all their calls during lunch and break times on payday but as Franchise City points out they work 60+ hours /week or more just as you did. You 'running them off' was rude and coarse, there are enough real problems running these businesses that can put them out, mostly your men defaulting on paying to agreed terms on installments or skipping out and "ghosting," strangling the cash flow. No matter what Snap-on (or competitor counterparts) gets paid. Other congenial places to conduct more profitable business without unnecessary stress could be found to replace your insignificant collision centers. Was your employee turnover high ?
our local value village/goodwill/thrift store is so over run with snap on tools they are refusing to take them. What does that tell you?
no way lol where at so i can buy it all 😂
Location?
For probably 90-95% of tools Harbor Freight brands will be more than adequate, and for the remaining 5-10% you can still get better brands that are still much cheaper than Snap-on. Yeah, you may not look as cool using inexpensive tools, but your 401k balance will look much, much better 20-30 years from now since that money will have been working for you instead of putting your Snap-on dealer's kids through school.
Good points - thx for the comment 🙂
Great information as always. Thank you!
Thanks for watching!
Which one of the 4 tool truck brands is the best franchise?
None of them are without challenges. The "best" franchise is unique for everyone based on their individual market and operational preferences. We did Matco recently: ruclips.net/video/lNr54ZBsQqQ/видео.html Thx for the question.
My snap on guy filed bankruptcy over a year ago and never got a new one.
👏🏽
Why would they force franchisees out of profitable areas? Doesn't the company want to see profits made from tool sales🤷🏻♂️?
Snap On has GR8 quality but too much comp in the tools market Mac/Klein and so on to make any real $$$.
How about Cornwall tools? I heard they were the easiest to get into and didn't charge franchise fees. You just pay for your truck and tools and that's it
$164,525 to $293,825 initial investment including 55K inventory. They had almost 100 dealers leave the system last year - I would want to know why and I would speak with many of them. Lots of lawsuits in their disclosure document - make sure you read them. Having no royalties is not necessarily a better deal for the owners, the company just has a different revenue model how they make their money. At the end of the day net profit is what matters. If you are actively looking for a franchise feel free to give us a call: www.franchise.city/our-services Thanks for watching.
Ancient way of purchasing tools when mechanics can buy them online
How do you warranty a tool purchased online 🤔?