Full Answer
How much does it cost to open a Matco Tools franchise?
For perspective, a franchise with low startup costs can range anywhere between $10k to $35k out of pocket. Matco Tools franchise startup costs are used for travel to our training facility and corporate office in Ohio, a down payment on your tool truck, and payment for truck insurance.
Why Matco?
Why Matco? In-house financing program can cover up to 100% of start-up costs for those who qualify More training and support than other mobile tool businesses Company is booming - We had a record number of new franchisees in 2014! Lower start-up costs than other franchise business models Ranked as a Top 50 franchise by Entrepreneur Magazine
Are the fees for Matco products refundable?
Each fee is imposed by and payable to Matco, and is uniformly imposed on all distributors (unless otherwise noted). All fees are nonrefundable. However, the Product inventory that you are required to purchase on a weekly basis is resalable.
How much does it cost to open a 225 franchise?
When you sign the Distributorship Agreement, you must pay Matco an initial franchise fee of $8,000 (the “Initial Franchise Fee”). The Initial Franchise Fee for a new “225 Distributor” will be $5,600. The Initial Franchise Fee must be paid in full, unless Matco agrees to finance all or a portion of the Initial Franchise Fee.
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How do I become a Matco dealer?
How do I qualify to become a Matco Tools Franchisee? Completing the Matco Distributor application and submitting it for preliminary approval permits a detailed analysis of funding requirements, available financing options, and establishes franchise qualifications.
How much do you make with Matco Tools?
The average Matco Tools salary ranges from approximately $25,000 per year for Associate to $83,707 per year for Route Sales Representative. Average Matco Tools hourly pay ranges from approximately $11.00 per hour for Packer to $25.83 per hour for Human Resources Generalist.
How much does a Matco tool driver make?
Average Matco Tools Delivery Driver hourly pay in the United States is approximately $19.00, which is 18% above the national average.
How much do snap on franchise owners make?
A Snap-on franchisee earns $24.78/hr. A week of work would earn you $991/week which accumulates to $4,295/month or $51,540/year. Of course, Snap-on franchisees may earn lower or higher than that. As of 2022, the salary here ranges from $25,000 to $85,000.
How much can you make selling Mac Tools?
As of Oct 3, 2022, the average annual pay for a Mac Tools Distributor in the United States is $58,079 a year.
How much does it cost to become a snap on dealer?
The franchise expects its new franchisees to have a net worth of at least $37,583. $169,223 is the minimum that someone opening a location should expect to invest. The high end of the total investment required to open a franchise is $382,235. $8,000 is the franchise fee new franchisees pay the franchisor.
Is Matco Tools a good company to work for?
Is Matco Tools a good company to work for? Matco Tools has an overall rating of 3.5 out of 5, based on over 84 reviews left anonymously by employees. 52% of employees would recommend working at Matco Tools to a friend and 40% have a positive outlook for the business.
Does Matco Tools drug test?
Matco has a drug testing policy for prospective franchisees/distributors and their Principal Owners.
How much does it cost to become a Cornwell Tool dealer?
between $114,525 and $272,825What does a Cornwell Quality Tools Franchise Cost? The total investment to be your own boss as a Cornwell Quality Tools dealer ranges between $114,525 and $272,825. Cornwell requires candidates to have a minimum net worth of $40,000 and minimum of $20,000 in liquid assets.
How much does a Snap-on truck make a year?
Average Snap-on Owner Operator Driver yearly pay in the United States is approximately $100,000, which is 51% below the national average.
How much would it cost to buy all Snap On Tools?
You must purchase an initial inventory, which Snap-on Tools pre-selects for you, with a suggested retail price approximately between $172,000 to $188,000 and a cost to you approximately between $114,500 to $125,000.
How much do tool guys make?
How much does a Tool Truck Driver make? As of Oct 12, 2022, the average annual pay for a Tool Truck Driver in the United States is $57,958 a year.
How does being a Snap-on dealer work?
Snap-on grants franchisees a license to operate a franchised mobile store. As a franchisee, you own your own business, selling high quality repair and diagnostic tools and equipment to a protected list of calls.
How much money does a tool dealer make?
The salaries of Tool Distributors in the US range from $17,720 to $38,850 , with a median salary of $23,923 . The middle 50% of Tool Distributors makes between $21,856 and $23,840, with the top 83% making $38,850.
What company owns Snap-on?
Snap-on is a part of Snap-on Incorporated, which is a publicly-traded company with symbol SNA. In other words, individuals and institutions hold shares of the company in the same way as with other publicly-traded brands such as Coca Cola, Apple, Home Depot, and Stanley Black & Decker.
How many Snap-on franchises are there?
The #1 Tool Brand in the World. The company has more than 58,000 products and operates in more than 130 countries. Globally, Snap-on has over 4,500 franchises.
Why can't Matco give specific numbers?
Matco cannot give any specific numbers because of the variables and the franchise disclosure laws don't allow us to give any specific income numbers.
What is out of pocket cost?
Out of pocket costs is considered start-up costs or amount of money or assets you will need to get started with a franchise. This amount can vary in relationship to your personal budget needs, amount financed, and equipment needs.
What Does a Matco Tools Franchise Cost?
To buy a franchise with Matco Tools, you'll need to have at least $40,000 in liquid capital. Franchisees can expect to make a total investment of $70,000 - $170,000. They also offer financing. *
How long is Matco training?
Our initial 10-day classroom training program combines product information with business classes to help you get off to a successful start. After you graduate, you will experience another six weeks of intensive training in the field. We make sure that you feel comfortable and confident, not only with your decision to join the Matco Tools family, but also day-to-day in your store.
Does Matco pay royalty fees?
Receive national advertising, marketing materials and sales tools to boost your business at no cost to you – No advertising or royalty fees.
Does Matco offer in-house financing?
In addition to having one of the lowest start-up costs in franchising, Matco Tools is one of the few franchise systems that offers in-house financing to those who qualify. Matco’s Financial Services group has a dedicated team that will assist you with your financial needs as you start your new business.
Does Matco provide tools?
In addition to the industry-leading classroom sessions and hands-on training in your store, Matco will provide you with the tools you need to succeed.
What is Matco Tools?
Matco Tools supplies professional mechanics and auto enthusiasts with premium tools, storage, and equipment to get repairs done. Did you know that auto technicians buy their own tools? The tools and service we provide are delivered through a network of over 1,800 independent business owners - our Franchisees.
What Matco Franchisees Do
Matco Franchisees are personal business owners who sell, deliver, and service tools using mobile tool stores that THEY own. That means they set their own schedules, grow their own businesses, and write their own paychecks.
Do I Need Tool Experience?
Our world-class business training means no tool or automotive experience is needed.
How many states does Matco Tools have franchises?
17. Today, Matco Tools has franchise dealers in all 50 states as well as Canada and Puerto Rico.
How many Matco distributors are there in 2020?
2020 Weekly National Distributor Sales Average for the 1,508 Matco Distributors in the United States who (i) were in business at the beginning of 2020, (ii) were operating at the end of 2020, and (iii) reported sales close-outs at least 48 weeks during 2020
What is section V of Matco tools?
Section V – Presentation and analysis of Matco Tools’ financial performance representations, based on Item 19 of the company’s 2021 FDD, including information on the:
What is the Franchise 500?
Recognized as an invaluable resource for potential franchisees, the Franchise 500 ranks Matco Tools 50th for its outstanding performance in areas including unit growth , financial strength and stability, and brand power. Factors that go into the evaluation include: costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points.
What is the all day power system for Matco?
8. The all-day power system includes an automotive grade, NMC lithium ion storage pack that will provide Matco trucks with 18,000 Whs of storage and 3.6 kW of 120 AC (30A). The system provides all the energy operators need to power air conditioning, lighting, computer systems, and more. Franchisees can recharge their systems overnight and take the power with them during the day.
When will Matco release the new ball joint adapter?
10. In mid-July 2020, Matco Tools released the new Matco BJPXR9 Ball Joint Connected Adapter Kit, which covers 29 percent more vehicle models than competitive kits, with fewer adapters. The patent-pending secure-click C-frame holds adapters, cups, and ball joints securely, making it easier to setup, remove, and install ball joints.
Who is the president of Matco Tools?
6. Tim Gilmore, president of Matco Tools, said, “We’re excited to be able to offer our franchisees and customers a better, quieter, more environmentally-conscious shopping and selling experience. The Volta system will also help our Franchisees cut maintenance costs by cutting the strain of continuous engine idling.”
What does it mean to own a franchise?
Owning a franchise brings about responsibility and accountability. Depending on the type of franchise you choose to get into, you can be looking at upwards of hundreds of thousands of dollars to start one. On the other hand, other franchise opportunities within the tool & equipment niche brings a more realistic view for a person who wants ...
How much does it cost to start a mobile tool distributor?
This covers costs that enable you to get your business up and going. For perspective, a franchise with low startup costs can range anywhere between $10k to $35k out of pocket.
Can you franchise Matco Tools?
If you qualify for a Matco Tools franchise, you will be partnered with a seasoned Franchise Specialist to help walk you through this process and create a realistic business plan and budget.
When do you need to purchase inventory from Matco?
You are required to purchase an initial inventory of Products from Matco (the “New Distributor Starter Inventory”) before the date your Distributorship commences operations. In some instances, your initial inventory may be acquired from a predecessor Distributor.
Why does Matco have hardware requirements?
Matco has set specific hardware requirements in order to ensure proper functioning of the MDBS Software.
How much is the minimum starter inventory for a distributor?
Currently, the minimum New Distributor Starter Inventory is generally $68,000 but may be higher (as discussed in the next paragraph). This amount may not be uniform for all Distributors, and Matco expects that the amount will range, generally, from $50,000 to $88,000.
How much inventory is needed for a 225 distributor?
In 2020, the minimum New Distributor Starter Inventory for a new 225 Distributorship was generally $46,000, even though the New Distributor Starter Inventory ranged from $44,500 to $68,000.
What is the minimum inventory purchase requirement?
Minimum Inventory Purchases: maintain an inventory of Products at least equal to the starter inventory; and maintain a ratio of purchase average to total sales of at least 60%. Also, during your first year of operations, you must participate in the NPP program.
Does Matco provide ETD?
military who purchases a “standard” or “ETD” Matco Distributorship $10,000 of hand tools (valued at list price) at no charge.
What is the minimum ratio for a year to date purchase?
Also, you must maintain a minimum ratio of 60% of your year-to-date purchases divided by your year-to-date sales.
