5 Best Tool Franchise Opportunities and Their Cost
Franchising is an incredible business idea that gives an entrepreneur access to the rights of a larger company. These rights include the company’s business name, products, and logo. It has become a highly effective and unique way of distributing different types of products, goods, and services, and is also one of the most profitable ways to grow a start-up business.
A tool business franchise is one of the most lucrative ways of franchising. This is because tools are very important for day-to-day human activities. Suppose you are thinking of starting a tool business and you are searching for the best franchise tool companies you can buy into. Then you’ve come to the right page. Here we will talk about the best tool franchising companies in the USA and their cost.
Matco Tools, Incorporated
Located in Stow, Ohio, United States, Matco Tools Inc. distributes professional tools for different industries, especially the automotive industry. They have distributed over 13,000 tools, including gauges, wrenches, screwdrivers, and specialty tools. Although Matco Tools was founded in 1946, they started selling to professional mechanics in 1979 through a local distributor, who was also a Franchisor.
Matco manufactures their line of high-quality toolboxes at their manufacturing plant situated in Jamestown, NY. They manufacture and contract the production of different electric, hand, diagnostic, and air tools. They also have a lifetime warranty on all their hand tools.
To buy into this franchise , you need an initial investment between the range of $91,785 – $269,665, a net-worth of $25,000, a liquid cash fee of $25,000, and an ongoing initial franchise fee of $7,000.
When it comes to designing, manufacturing, and marketing high-end tools and equipment, Snap-on Incorporated is one of the trusted companies. They distribute to professionals in the transportation industry, which include aviation, heavy-duty, automotive, marine, and railroad industries. Snap-on tools are not sold in retail stores, instead, their franchisees visit their customers weekly with different items for purchase.
They also distribute lower-end tools with the brand name, Blue-Point. With a franchise network of over 4,200 franchisees, 65,000 SKUs in its product line, and 3,300 active and pending patents worldwide, Snap-on Inc operates in more than 130 countries and has about 12,600 employees worldwide.
The financial requirements applied to purchasing Snap-on inc franchise include an initial investments between $171,385 – $359,767, net-worth requirement of about $53,366, a liquid cash requirement between the range of $35,677 – $53,366, an ongoing initial franchise fee of about $16,000 and an ongoing Royalty Fee $120/month.
This American company, headquartered in Westerville, Ohio, United States, produces and sells over 8000 professional tools, which include ratchets, screwdrivers, wrenches, and different air tools. Mac tools company also has a tool storage line, which is situated in Ohio.
Their products are manufactured in different Stanley Black & Decker facilities worldwide. They majorly distribute their products from Hilliard, Ohio, USA. The Mac Tools business model is a franchise system with about 1500 distributors across North America.
To buy Mac tools franchise, you need to pay an initial investment fee between the range of $106,026 – $259,255, a net-worth requirement fee of $40,000, a liquid cash fee of about $22,000,and an ongoing initial franchise fee of about $8,000.
K&N Mobile Franchises
One of the best parts sellers in the United States of America is K&N Mobile Franchises. They distribute their products to different machinery and auto shops in the United States of America.
K&N Mobile Franchises operates under the leadership of the founder, Jerry L. Nelson at the headquarters located at 4909 Rondo Dr. Ft. Worth, TX 76106. The company provides in-house financing to cover inventory and accounts receivable. They also have relationships with third-party sources which offer to finance equipment only.
To purchase K&N Mobile Franchise, you need an initial investment within the range of $56,755 – $170,750, a net-worth fee of $100,000, a liquid cash fee if $50,000, an ongoing Initial Franchise Fee within the range of $28,500 – $28,500, an ongoing royalty fee of 9%, and an ad royalty Fee of 1%.
The royalty fee is waived for Veterans, for 6 months.
The Cornwell Quality Tools Company
Cornwell Quality Tools Company is a manufacturer and marketer of shop equipment, specialty tools, automotive diagnostics, hand tools, tool storage products, and power tools. It was founded in 1919 and is based in Wadsworth, Ohio, United States. Cornwell operates 689 franchises in the United States as of 2018 and markets her products directly to independent tool dealers.
Despite the changes in demand, technology, and tool architecture, Cornwell has stuck to its goal of producing quality products only. They also support their dealers with promotional items, quality tools, and knowledge.
The financial requirements to own a franchise with Cornwell are an initial investment fee of about $272,825, a liquid cash requirement fee of $20,000, and a net worth fee of $40,000.
You can start your tool-related business via franchising with any of the above franchise tool companies. You can also choose to be a distributor of any tools of your choice.