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Updated RecentlySnap-on Tools vs Cornwell Tools Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Snap-on Tools vs Cornwell Tools including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $192,935 - $490,150 | $59,525 - $272,825 |
| Franchise Fee | $8,000 - $16,000 | N/A |
| Royalty Fee | $125/mo. | - |
| Advertising Fee | - | - |
| Year Founded | 1920 | 1919 |
| Year Franchised | 1991 | 1997 |
| Term Of Agreement | 10 years | - |
| Term Of Agreement | 10 years | - |
| Renewal Fee | 50% of current license fee | - |
Business Experience Requirements |
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| Experience | - | - |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/- |
| Start-up Costs | No/No | Yes/- |
| Equipment | No/No | -/Yes |
| Inventory | No/Yes | Yes/- |
| Receivables | No/Yes | Yes/- |
| Payroll | No/No | -/- |
Training & Support |
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| Training | - | On-The-Job Training: 80 hours Classroom Training: 40 hours |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | - | A number of sales and marketing advantages go along with being part of the Cornwell Team. These have been proven to assist the Cornwell Tool Dealer in the quest for success. As a Franchised Tool Dealer you benefit from: * Free catalogs! * Monthly promotional flyers to hand out to customers with special discounts and featured items * National brand advertising in major automotive aftermarket magazines and racing programs * Special programs for aggressive discounts, proprietary tools, or specific customer promotions * A full support staff of Customer Service Representatives * A National Cornwell Rally with vendors, training, fun and recognition with Top Performers awarded on both Regional and National levels Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Email marketing Loyalty program/app |
| Operations |
Franchise can be run from home. 3.4% of all franchisees own more than one unit
Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) | - |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
Company Overviews
About Snap-on Tools
In 1920, a particular wrench could only do one particular
job, but Joseph Johnson had an idea to change that. Along with William
Seidemann, he began manufacturing ten different sockets that would "snap
on" to five interchangeable wrench handles, so that one tool could do
the work of five. The Snap-on Wrench Company's representatives sold
these new products by taking them to the customers at their places of
business and demonstrating their use.
Today, Snap-on Tools franchisees sell far more than just wrenches. They
offer over 22,000 products, including hand tools, power tools,
diagnostic tools, tool storage and shop equipment, but the way they sell
is much the same. Once a week they bring their "mobile stores"--trucks
filled with their products--directly to their customers, which include
car dealerships, mechanics, marinas and airports.
Franchisor is seeking new franchise units in the U.S., Africa, Asia, Australia/New Zealand, Canada and Western Europe
Veteran Incentives $20,000 off startup inventory
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#22 in Canada's Top franchises.
In Franchise Business Reviews Top 200.
#31 in Franchise 500 for 2020.
#48 in Franchise 500 for 2021.
About Cornwell Tools
Get behind the wheel of your own business!
YOU'RE OUR #1 PRIORITY
Cornwell primarily markets tools and equipment through authorized dealer franchises. Our dealers are the most important part of our business.franchise advantages:
*Financing is available to those that qualify, putting you closer to your dreams.
*No automotive experience is required...we offer an extensive training program to start and support you along the way.
*No franchise or royalty fees.
*We offer geographic territories with room for growth.
*Support from a family/employee owned company that is committed to the
success of its dealers, because our dealers are our only customers.
The total investment necessary to begin operation of a Cornwell
franchised dealership ranges from $59,525 to $272,825 for convertees and
$114,525 to $272,825 for new dealers. This includes $40,000 for initial
inventory that must be paid to the franchisor or an affiliate by a new
dealership, or at least $25,000 by a convertee.
Veteran Incentives Interest-free financing
#81 in Franchise 500 for 2020.
#110 in Franchise 500 for 2021.