Forbes Ranks Snap-on Number One in "Best Franchises to Start for the Buck" Listing
KENOSHA, Wis., Feb 16, 2012 (BUSINESS WIRE) --The Snap-on Tools Franchise opportunity heads the list in the Forbes February 27, 2012 edition's article on the ten best franchises to start, entitled "Proven Path." Forbes determined the ranking after evaluating data from 110 of the most established names in franchising.
"Snap-on is honored to be designated the top franchise opportunity by Forbes," said Nick Pinchuk, Snap-on Incorporated chairman and chief executive officer. "Snap-on is consistently recognized as the most preferred tool brand among vehicle service professionals. We believe our strong brand equity, unmatched customer connection, award winning innovation, available in-house financing, focused training and general support make the Snap-on business model a quality opportunity for potential franchisees. Forbes' recognition reinforces that belief and underscores our conviction that the success of each of our franchisees is a win for Snap-on."
The methodology for the ranking was based on average initial investment, total locations, closure rate over the last three years, growth in the number of U.S. outlets in the last three years and the number of training hours as a percentage of startup cost.
Snap-on has witnessed continuous improvement in its franchising operations during the past several years and remains committed to making investments to strengthen its network; including offering discounts for veterans and former military personnel. More information on the Snap-on franchise opportunity can be found at Snaponfranchise.com, including a virtual mobile store tour.
Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation, aerospace, agriculture, construction, government and military, mining, natural resources and power generation. Products and services are sold through the company's franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $2.9 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
For additional information on Snap-on, visit www.snapon.com.
SOURCE: Snap-on Incorporated