Tools Franchise Tops The List Of Best Franchises For 2012
Written by Tim Morral
Tool franchise Snap-On is rated as the Best Franchise to Start for the Buck by Forbes.
Based on an evaluation of 110 of the nation's most established franchises, Forbes has selected tool provider Snap-On as the best value and the best franchise to start in 2012.
"Snap-on is consistently recognized as the most preferred tool brand among vehicle service professionals," said Nick Pinchuk, Snap-on Incorporated chairman and chief executive officer. 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."
Criteria for the Forbes ranking included average initial investment, total locations, closure rater (past three years), franchise growth and training hours as a percentage of startup cost. According to the Forbes list, Snap-On has an estimated initial investment of $135,390, 3,392 U.S. locations (as of 2011), and has had no franchise closures over the past three fiscal years. New franchisees are required to perform 191 hours of initial training - a figure that is exceptionally low when compared to other franchises in its class.
The other franchises rounding out the top 5 on Forbes' "Top 20 Franchises for the Buck" include 7-Eleven, Aaron's, Panera Bread and ServPro.
Making this short list is an impressive feat as there are thousands of franchise opportunities in the United States and around the world.
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