Franchise Focus
Bypassing the banks, Snap-on’s fi nancial assistance makes funding your own franchise a reality
INVESTMENT LEVEL: FROM £16,037
why we have Snap-on Finance to offer business loans to fund the purchase of your franchise. We’ve got the utmost confi dence in our franchise, which is why, when you invest in us, we’ll invest in you too. We’re prepared to help you get on your feet because we know you can make the business a success, pay us back in full and make a profi t.” One of Snap-on’s youngest franchisees, and now one of the UK’s most successful, Richard Swayne did just that.
Richard Swayne (left) I
f you need some funding assistance to make your dream of business ownership a reality, then you’re not alone.
Hundreds of people every year
approach banks and building societies for a loan to fund the purchase of their franchise package of choice. But that in itself throws up some questions. How do you choose the right bank? Which banks know about franchising? Is your franchise known to them and trusted? Will they lend you enough to cover the cost of your franchise? With Snap-on, you can say goodbye to all that uncertainty. How? Because Snap- on are one of the only franchisors in the UK able to offer their franchisees a funding option that doesn’t involve the banks. Fully accredited and government approved, ‘Snap-on Finance’ is Snap-on’s in-house bank. Through this dedicated fi nance house, Snap-on is able to offer business loans to successful candidates in order to fund the purchase of the franchise. Who better to invest in your franchise with you, than your franchisor? Snap-on is the world’s number one
professional tool brand, and the leading global manufacturer and distributor of tools for the professional technician. Franchisees deliver gold-standard products to technicians across the country. Snap-on’s business opportunity offers you the chance
to be your own boss while being supported by a team of industry specialists.
Help to buy!
Investing in a Snap-on franchise has never been easier or more attractive. You pay just £16,037 and Snap-on funds the remaining monies. Fixed, regular payments mean you can manage your cash fl ow and always know exactly where you are with your fi nances. Snap-on even offers you a payment break for your fi rst three months in order for you to get your business up and running.
“Snap-on is the world’s number one professional tool brand, and the leading global manufacturer and distributor of tools for the professional technician”
Lisa Law, Snap-on’s national franchise manager, explained: “We believe that everyone has the right to achieve their dream of being their own boss, which is
Springboard to success Richard started working for Snap-on as an employee of an existing franchisee near Dartford in 2012. Despite growing up in what he calls a “typical nine-to-fi ve family”, Richard knew he wanted more than just a job, and he didn’t want to wait a lifetime to achieve his dream of being his own boss. Just 18 months later, in 2014, Richard took out a loan from Snap-on Finance and bought the franchise for his own. It’s safe to say he hasn’t looked back since! Richard was the number-one franchisee for sales in 2014 and 2015, and consistently reaches sales of almost twice the national average. He has paid off his initial business loan of almost £50,000 and expanded into his second territory. He acknowledges that none of this would have been possible without the support of the Snap-on team and the fi nancial assistance provided by Snap-on Finance. “I took out a loan from Snap-on Finance to help me buy my franchise,” Richard said. “There’s no way I’d have been able to make the purchase without Snap-on’s in-house facility. The loan was about £45,000-50,000 and I paid that off, in full, 10 months into my franchise. “I’m expanding into a second territory and have funded that through Snap-on Finance again. My target is to repay the new loan in two years or less!”
A smart investment
Snap-on Tools
www.snaponfranchise.co.uk franchiseinfouk@snapon.co.uk 01235 831 053
October 2016 |
BusinessFranchise.com | 169
Investment: £10k-£20k
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