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Snap-on Tools franchise financing options

Compare costs, fees and where to get financing for a Snap-on Tools.

Overall costs for Snap-on Tools run anywhere from $167,355 to $357,145. See how the costs break down and what funding options might be right for your new venture into the franchise foray.

Estimated initial costs

Our cost estimates are accurate as of 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your Snap-on Tools franchise may result in higher or lower fees.

Franchise fees

Snap-on Tools franchise fees total around $49,500, which is more than the $37,000 average for the 200 largest franchises.
Franchise Cost
Initial license fee $8,000 to $16,000
Acquisition and development of revolving accounts $0 to $75,000
Estimated total $8,000 to $91,000

Equipment fees

Equipment fees total $96,800 for Snap-on Tools. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Technology package $0 to $3,000
Van $50,000 to $136,000
Van delivery charge $180 to $4,100
Other equipment, fixtures and expenses $150 to $170
Estimated total $50,330 to $143,270

Inventory costs

Initial inventory for Snap-on Tools shakes out to $112,200. This is more expensive than the nationwide average of $53,119.
Inventory Cost
Initial inventory $107,000 to $117,000
Supplies $0 to $400
Estimated total $107,000 to $117,400

Licenses and permits costs

Snap-on Tools initial licenses and permits will set you back $1,300. This comes out to less than $18,770 — the overall nationwide average.
Licenses and permits Cost
License $200 to $2,400
Estimated total $200 to $2,400

Insurance costs

Initial insurance costs for Snap-on Tools run $1,250. This means you'll be paying less than the overall nationwide average of $6,311.
Insurance Cost
Three months' van insurance $625 to $1,875
Estimated total $625 to $1,875

Administrative fees

Snap-on Tools administrative fees total up to $1,200 — which comes in under the overall nationwide average of $6,761.
Admin Cost
Computer software license fee $1,200 to $1,200
Estimated total $1,200 to $1,200
All costs were found using the 200 largest franchises nationwide using Franchise Direct's list of more than 300 franchises, and are accurate as of 2021.

How to finance

Since the estimated total for Snap-on Tools is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the Snap-on Tools franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to Snap-on Tools about in-house financing for franchisees.
  3. If in-house financing isn't available, look for online loans, bank loans and SBA loans to help meet the $262,250 estimated opening costs.
  4. Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
  5. Once you settle on a lender, gather all required documents, including account statements and assets.
  6. Apply for financing online or in person as required by the lender.

What types of financing is available?

You have several options when it comes to financing a Snap-on Tools — even if the cost is on the heavier side. What assets you have available will largely determine how much you need to borrow, and which option suits you best.
  • Online loan. A number of online business lenders offer amounts up to $1 million, with some extending up to $5 million.
  • Bank loan. Your personal credit will typically need to at least be good — 670 or higher — when it comes to getting a bank loan large enough to cover a significant portion of Snap-on Tools opening costs.
  • SBA loan. While your personal credit score doesn't need to be as good to qualify for an SBA loan, they usually cost more than standard term loans from banks or online lenders.
Also check if Snap-on Tools franchise financing is available. You may be able to get some of the costs covered for less than you would with other traditional funding options.

Compare small business lenders

You may not need financing to cover the estimated $167,355. But if you need funds for other business ventures, select the loan amount, your time in business and revenue and your personal credit score to compare a selection of lenders.
Name Product Filter Values Min. Amount Max. Amount Requirements
OnDeck small business loans
$5,000
$250,000
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Fora Financial business loans
$5,000
$500,000
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.
Lendio business loans
$500
$5,000,000
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000
$5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
LendingClub personal loans for business
$1,000
$40,000
US citizen or permanent resident, verifiable bank account, steady source of income, ages 18+.
Get prequalified for a personal loan up to $40,000 to help you grow your business. Great for new business owners with at least fair credit.
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How Snap-on Tools stacks up

Compare how Snap-on Tools holds up against two similarly sized franchises.
Tim Hortons Snap-on Tools Anytime Fitness
Average Franchise fees $32,500 $49,500 $22,825
Average Equipment fees $255,000 $96,800 $108,682
Average Real estate fees $817,750 NA $117,303
Average Training fees $11,000 NA $1,582
Average Inventory fees $15,500 $112,200 NA
Average Marketing fees $2,750 NA $9,991
Average Licenses and permits fees $5,750 $1,300 NA
Average Insurance fees $10,825 $1,250 $1,574
Average Admin fees NA $1,200 $2,475
Average Personnel fees NA NA NA
Average Other fees $32,500 NA $3,440

Bottom line

Snap-on Tools franchise costs run a total of $262,250. Before you decide to become a franchisee, compare the total costs against industry averages. And to learn more about financing read our guide to franchise financing.

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