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Snap on tools... is it worth it?
- Thread starter suzhen
- Start date
Its a business...they are all like that. You either succeed of fail. Basic business considerations are (1) quality of the underlying market/territory; (2) skillset of the owner/operator; (3) access to capital/credit. You need all of 1-3 to make any business work.
There's a really exhaustive thread on here that chronicles deciding to and becoming and quitting being a tool truck driver... I want to say for Mac? I can't find the thread now but someone will link it soon I imagine. In the meantime here's a much shorter thread about tool truck profit:
http://www.garagejournal.com/forum/showthread.php?t=106382
http://www.garagejournal.com/forum/showthread.php?t=106382
Trey T
Well-known member
Can someone explain SO's strategy w/ the financing on tools? Break it down number by number .... I mean, are there a lot of folks out there that really finance anything below $1K @ 17% APR (based on OP's #)? $1k will get you two good set of Flank Drive wrenches, metric and SAE.
Can someone explain SO's strategy w/ the financing on tools? Break it down number by number .... I mean, are there a lot of folks out there that really finance anything below $1K @ 17% APR (based on OP's #)? $1k will get you two good set of Flank Drive wrenches, metric and SAE.
Truck credit doesn't have a APR attached to the loan, some will argue it's built into the retail price, but they also claim there dealers will sell to them at 60% of retail if you throw cash at them... ( <--- not happening outside of promo specials/used tools) If you choose to use Snap On credit, not even sure if that's a outside finance company or A division of snap on, that is where the APR comes into play, but I believe that program is aimed more towards bigger purchase.
Can someone explain SO's strategy w/ the financing on tools? Break it down number by number .... I mean, are there a lot of folks out there that really finance anything below $1K @ 17% APR (based on OP's #)? $1k will get you two good set of Flank Drive wrenches, metric and SAE.
There's a MOUNTAIN of people who finance all sorts of cheap things at 24%. It's called a credit card.
Snap-On's system is no different.
WhiffySpark
Well-known member
- Joined
- Oct 22, 2009
- Messages
- 6,252
Can someone explain SO's strategy w/ the financing on tools? Break it down number by number .... I mean, are there a lot of folks out there that really finance anything below $1K @ 17% APR (based on OP's #)? $1k will get you two good set of Flank Drive wrenches, metric and SAE.
No interest on truck account. Most of toolboxes and such are a credit account. I think 8-28%. $1k purchase would go on truck account.
And ou usually don't pay retail. I brought that wrench set for buy one get one free. But there's also a lot of drivers that charge retail and won't budge. I paid less for a new epiq than I've seen people pay for classics. So it's all in the driver
I know people that have toolboxes on their truck account. One fellow has $11k+ on it
ptschram
Well-known member
Sorry guys, I had to find parking for my clown car and the bears are busy dancing on a deadbeat who didn't pay his tool bill.
Snap-On Credit will extend credit from $300 up to the maximum of your available credit as decided by your outside credit.
Snap-On Credit is a stand-alone bank/finance company that ONLY extends credit to customers of Snap-On Tools and the franchisees. The maximum interest rate is set by your home state, and those with exemplary credit records can qualify for lower rates.
We also have a credit mechanism we call our Small Balance Extended Credit or SBEC. $300-$1300, 26 weeks, 1% interest and the interest is forgiven if the balance is paid before the 26 weeks have elapsed. I have found this to be a very useful mechanism for extending credit for many modest purchases, but that are more than the customer can afford the payment on truck account.
As for earnings, it is all dependent upon the franchisee and the amount of work he wishes to put into it. If you work hard, you will be compensated well.
If you don't mind people and aren't afraid of hard work, it's a fantastic career.
If anyone is interested, I can get you in contact with a recruiter who can answer more questions than I can.
For me, it's been a good choice/business decision.
Snap-On Credit will extend credit from $300 up to the maximum of your available credit as decided by your outside credit.
Snap-On Credit is a stand-alone bank/finance company that ONLY extends credit to customers of Snap-On Tools and the franchisees. The maximum interest rate is set by your home state, and those with exemplary credit records can qualify for lower rates.
We also have a credit mechanism we call our Small Balance Extended Credit or SBEC. $300-$1300, 26 weeks, 1% interest and the interest is forgiven if the balance is paid before the 26 weeks have elapsed. I have found this to be a very useful mechanism for extending credit for many modest purchases, but that are more than the customer can afford the payment on truck account.
As for earnings, it is all dependent upon the franchisee and the amount of work he wishes to put into it. If you work hard, you will be compensated well.
If you don't mind people and aren't afraid of hard work, it's a fantastic career.
If anyone is interested, I can get you in contact with a recruiter who can answer more questions than I can.
For me, it's been a good choice/business decision.
buba
Well-known member
There's a really exhaustive thread on here that chronicles deciding to and becoming and quitting being a tool truck driver... I want to say for Mac? I can't find the thread now but someone will link it soon I imagine. In the meantime here's a much shorter thread about tool truck profit:
http://www.garagejournal.com/forum/showthread.php?t=106382
Would it be SofTails Cornwell big adventure?
http://www.garagejournal.com/forum/showthread.php?t=217037
Would it be SofTails Cornwell big adventure?
http://www.garagejournal.com/forum/showthread.php?t=217037
That's the one!
Richard Cranium
Well-known member
After reading Sort tail's Problems, I would be hard fast to even suggest some one to go into that type of work.
Hohn
Well-known member
I've heard from some guys that people that snap on driving is a good living, and others say it's a way to go bankrupt. Why the differences? ANyone know if it's a good bet, how easy to collect credit from customers, etc?
I'd encourage you to ask lots of questions of yourself.
1) The main thing a tool truck has to sell is service. I don't think people much value that anymore in a day of two-day Amazon prime shipping.
2) Fixed cost and variable costs are not equal. Fixed cost is much worse. Variable cost only occur when revenue comes in. You want to lower fixed costs as much as possible, and consider if a mobile vs fixed business has lower fixed cost. Truck payment/maintenance vs leased storefront.
3) There are very few places where there is a sustained high demand for new tools vs just replacing a couple old ones. Where I live is one of those places. Snap on guy probably does OK here, but I know that the buyers get a massive discount as Cummins techs.
4) look at each aspect of the business as if it was a separate business. Do you want to be a debt collector? Do you want to be a finance guy dealing with credit terms and such? Do you want to maintain the truck like you're a trucker? Do you want to manage inventory and orders like retail business? Are you going to do any marketing of yourself or just fly a corporate banner and let that be your only promo?
I'm really sympathetic to the entrepreneurial orientation, but I gotta say that a tool truck is one of the last businesses I would ever consider launching. My uncle did the Snap On thing for awhile. Left it because running a hotel was LESS stress (if you can believe that).
As I see it, heading out on your own should give me these things:
-- I must be able to create demand for my product by marketing it. If my sales are totally a function of demand that already exists (loyal repeat buyers), then growth is almost never going to happen. Only if there is growth in skilled trades (and youngsters going into them) would tool sales be appealing to me.
-- I have to have a product or service that is meaningfully different than the competition.
-- I have to be doing something that aligns with my particular talents and interests
-- I have to be creating real value for someone-- doing something that they willing pay for on the spot.
Heck, I think I'd enter the hypersaturated lawncare business before I headed out on a tool truck.
No interest on truck account. Most of toolboxes and such are a credit account. I think 8-28%. $1k purchase would go on truck account.
And ou usually don't pay retail. I brought that wrench set for buy one get one free. But there's also a lot of drivers that charge retail and won't budge. I paid less for a new epiq than I've seen people pay for classics. So it's all in the driver
I know people that have toolboxes on their truck account. One fellow has $11k+ on it
How much of the revenue is generated from lending and how much is from base tool sales?
toolman9w
Well-known member
Sorry guys, I had to find parking for my clown car and the bears are busy dancing on a deadbeat who didn't pay his tool bill.
Snap-On Credit will extend credit from $300 up to the maximum of your available credit as decided by your outside credit.
Snap-On Credit is a stand-alone bank/finance company that ONLY extends credit to customers of Snap-On Tools and the franchisees. The maximum interest rate is set by your home state, and those with exemplary credit records can qualify for lower rates.
We also have a credit mechanism we call our Small Balance Extended Credit or SBEC. $300-$1300, 26 weeks, 1% interest and the interest is forgiven if the balance is paid before the 26 weeks have elapsed. I have found this to be a very useful mechanism for extending credit for many modest purchases, but that are more than the customer can afford the payment on truck account.
As for earnings, it is all dependent upon the franchisee and the amount of work he wishes to put into it. If you work hard, you will be compensated well.
If you don't mind people and aren't afraid of hard work, it's a fantastic career.
If anyone is interested, I can get you in contact with a recruiter who can answer more questions than I can.
For me, it's been a good choice/business decision.
^^^^^ suzhen.This is the dude you need to be asking the questions to.
No offense whiffyspark.
WhiffySpark
Well-known member
- Joined
- Oct 22, 2009
- Messages
- 6,252
^^^^^ suzhen.This is the dude you need to be asking the questions to.
No offense whiffyspark.
I agree. I'm just a purchaser that has a good relationship with my driver. I've know him for about 10 years now I go to his house once a week.
toolman9w
Well-known member
I agree. I'm just a purchaser that has a good relationship with my driver. I've know him for about 10 years now I go to his house once a week.
Nice relationship to have.
wafrederick
Well-known member
Have an ex Snap On dealer down the road in my area,he was forced out by Snap On.Way he was telling,Snap On was treating him like **** and he had problems with them.Snap On told him to repo a customer's tools and equipment and this was his response to them: **** YOU!Customer owed money and was going through medical problems at the same time.Snap On did not care about the medical issues this customer was going through,in and out of the hospital several times.Have not heard anything more after he was forced out,Snap On was supposed to buy out his franchise and some of the tools off the tool truck.He owned his franchise for 21 years and Snap On wanted him just to hand it over which he said no to.Snap On Credit,it does screw people and it happened to a brother of mine once.Was working at a Harley Davidson dealership at the time,was put on it and the only way he could pay it off was a loan from the bank with a truck of his as collateral.
WhiffySpark
Well-known member
- Joined
- Oct 22, 2009
- Messages
- 6,252
Have an ex Snap On dealer down the road in my area,he was forced out by Snap On.Way he was telling,Snap On was treating him like **** and he had problems with them.Snap On told him to repo a customer's tools and equipment and this was his response to them: **** YOU!Customer owed money and was going through medical problems at the same time.Snap On did not care about the medical issues this customer was going through,in and out of the hospital several times.Have not heard anything more after he was forced out,Snap On was supposed to buy out his franchise and some of the tools off the tool truck.He owned his franchise for 21 years and Snap On wanted him just to hand it over which he said no to.Snap On Credit,it does screw people and it happened to a brother of mine once.Was working at a Harley Davidson dealership at the time,was put on it and the only way he could pay it off was a loan from the bank with a truck of his as collateral.
That's what happens when you borrow on credit. Same thing with your mortgage payment
montanafordman
Well-known member
It seems like there are so many things that need to happen in order to have a successful tool business:
If you can purchase the truck and inventory without any debt (I'm throwing out a capitol investment guess of $200-300K and up.
You have a successful and booming local economy (think oil boom North Dakota and not Detroit collapse)
Have little competition from other vendors like Mac, Cornwell, Matco
Have an extensive enough area and client base. Keep in mind Snap-on or whoever your franchise business is tied to might change or assign those boundaries. Violate them and they pull your franchise agreement. If you're successful they may even try and bring a new franchise owner into your area and shrink your area when the bean counters get the idea they can increase their product market share with more saturation. It may hurt your bottom line but it allows them to sell a few more products. They don't care if that hurts you.
You must have a strong work ethic and business sense and be willing to put in 12+ hour days 6-7 days a week so you can turn a profit.
Have a likeable enough personality and customer service skills to sell, sell, sell. Also take the time to offer financing and continually chase people down who owe you money.
If ALL those things line up for you, sure you might have a successful business. Take away one or more of those factors and things might change dramatically for the worse. You might think you're able to "be your own boss" but its far from the truth. The franchise agreement can be some pretty big shackles and chains when it comes to how and where you want to operate. If they have different ideas you have to play along or find something else to sell.
If you can purchase the truck and inventory without any debt (I'm throwing out a capitol investment guess of $200-300K and up.
You have a successful and booming local economy (think oil boom North Dakota and not Detroit collapse)
Have little competition from other vendors like Mac, Cornwell, Matco
Have an extensive enough area and client base. Keep in mind Snap-on or whoever your franchise business is tied to might change or assign those boundaries. Violate them and they pull your franchise agreement. If you're successful they may even try and bring a new franchise owner into your area and shrink your area when the bean counters get the idea they can increase their product market share with more saturation. It may hurt your bottom line but it allows them to sell a few more products. They don't care if that hurts you.
You must have a strong work ethic and business sense and be willing to put in 12+ hour days 6-7 days a week so you can turn a profit.
Have a likeable enough personality and customer service skills to sell, sell, sell. Also take the time to offer financing and continually chase people down who owe you money.
If ALL those things line up for you, sure you might have a successful business. Take away one or more of those factors and things might change dramatically for the worse. You might think you're able to "be your own boss" but its far from the truth. The franchise agreement can be some pretty big shackles and chains when it comes to how and where you want to operate. If they have different ideas you have to play along or find something else to sell.
You might think you're able to "be your own boss" but its far from the truth.
Yes, the biggest shock is there is ALWAYS a boss....as YOU are the main guy, the new the boss is now the CUSTOMER, in that you have to be chasing $$$ (customers) to bring in revenue/payables...and if you don't chase you don't get paid. You are neverin in perfect control of your schedule etc either way...
Also remember at the margin, you are either an expansion territory (unproven) or inheriting an existing territory (tend to only be given up when not profitable). In the odd chance you are in line to inherit a profitable territory well developed and defined, there will be alot of competition for that spot (hence unlikely to get it if you are not lucky to have some kind of "IN" with the system).
Expansion territories in high-growth potential markets are likewise kept tigh to the vest and allocated with an eye toward rewarding people with lots of potential (or political connections).
These are all common to any type of business management situation, tho. Keep in mind it has nothing to do with Company A or B. You will always find mixed bag of marbles in similar situations.
Yes, the biggest shock is there is ALWAYS a boss....as YOU are the main guy, the new the boss is now the CUSTOMER, in that you have to be chasing $$$ (customers) to bring in revenue/payables...and if you don't chase you don't get paid. You are neverin in perfect control of your schedule etc either way...
Also remember at the margin, you are either an expansion territory (unproven) or inheriting an existing territory (tend to only be given up when not profitable). In the odd chance you are in line to inherit a profitable territory well developed and defined, there will be alot of competition for that spot (hence unlikely to get it if you are not lucky to have some kind of "IN" with the system).
Expansion territories in high-growth potential markets are likewise kept tigh to the vest and allocated with an eye toward rewarding people with lots of potential (or political connections).
These are all common to any type of business management situation, tho. Keep in mind it has nothing to do with Company A or B. You will always find mixed bag of marbles in similar situations.
ptschram
Well-known member
Have an ex Snap On dealer down the road in my area,he was forced out by Snap On.Way he was telling,Snap On was treating him like **** and he had problems with them.Snap On told him to repo a customer's tools and equipment and this was his response to them: **** YOU!Customer owed money and was going through medical problems at the same time.Snap On did not care about the medical issues this customer was going through,in and out of the hospital several times.Have not heard anything more after he was forced out,Snap On was supposed to buy out his franchise and some of the tools off the tool truck.He owned his franchise for 21 years and Snap On wanted him just to hand it over which he said no to.Snap On Credit,it does screw people and it happened to a brother of mine once.Was working at a Harley Davidson dealership at the time,was put on it and the only way he could pay it off was a loan from the bank with a truck of his as collateral.
I guarandamntee there is another side to this story.
W/R/T the repo, if the guy who was told to do the repo sold the tools in the first place, he had an interest as well.
As for the second guy who couldn't get it paid off, if you pay your weekly AGREED payment, the note is paid in the term originally agreed.
I have someone paying off a Snap-On Credit debt every week.
Bigblue&Goldie
Well-known member
Have an ex Snap On dealer down the road in my area,he was forced out by Snap On.Way he was telling,Snap On was treating him like **** and he had problems with them.Snap On told him to repo a customer's tools and equipment and this was his response to them: **** YOU!Customer owed money and was going through medical problems at the same time.Snap On did not care about the medical issues this customer was going through,in and out of the hospital several times.Have not heard anything more after he was forced out,Snap On was supposed to buy out his franchise and some of the tools off the tool truck.He owned his franchise for 21 years and Snap On wanted him just to hand it over which he said no to.Snap On Credit,it does screw people and it happened to a brother of mine once.Was working at a Harley Davidson dealership at the time,was put on it and the only way he could pay it off was a loan from the bank with a truck of his as collateral.
So your brother bought more than he could afford to pay on and this is Snap On's fault? Did your brother spill a hot cup of McDonald's coffee in his lap by chance?
blown94conv
Well-known member
Topics like this are worthless unless the comments come from people in the business. All the Johnnie Homeowners who don't understand the business have no idea how different it is from a regular retail business.
And for Wafredrick, it's the same old baseless rumors and half stories. I heard, didn't happen to me but I know a guy, etc, etc.
It's a hard business, but for those that put in the work the rewards are very handsome.
And for Wafredrick, it's the same old baseless rumors and half stories. I heard, didn't happen to me but I know a guy, etc, etc.
It's a hard business, but for those that put in the work the rewards are very handsome.
Strouty
Well-known member
I guarandamntee there is another side to this story.
W/R/T the repo, if the guy who was told to do the repo sold the tools in the first place, he had an interest as well.
As for the second guy who couldn't get it paid off, if you pay your weekly AGREED payment, the note is paid in the term originally agreed.
I have someone paying off a Snap-On Credit debt every week.
I know that you know this, but others may not. Snap On credit makes you sign on the dotted line and it literally allows them to take anything that has the snap on logo on it when they repo stuff, they will auction it all off and if there is a surplus they will give you the difference. I sign up every so often as they give me 6 months no interest and incentives, so I use it. I still hate to think that they could repo thousands in tools for a small debt.
Schurkey
Well-known member
Wow, is that comment outdated.(think oil boom North Dakota and not Detroit collapse)
ptschram
Well-known member
I know that you know this, but others may not. Snap On credit makes you sign on the dotted line and it literally allows them to take anything that has the snap on logo on it when they repo stuff, they will auction it all off and if there is a surplus they will give you the difference. I sign up every so often as they give me 6 months no interest and incentives, so I use it. I still hate to think that they could repo thousands in tools for a small debt.
First off, if you pay the tool bill you agreed to, you will never have an issue.
In the event something bad happens, return the merchandise and hope the Fair Market Value is enough to cover the balance of the contract.
There is no way you would lose thousands in tools to cover a small bill as we can only take enough to cover the balance remaining.
The only time I have ever even had to consider taking something other than the items on the credit sales contracts were when the "buyer" had sold the merchandise securing the note. In that case, the least of his problems were my taking stuff other than what was on the note as I was frequently conferring with his PO-LOL!
His balance was paid pretty quickly when she got involved!
In EVERY case, had the customer come to me and told me they were in a bad way, I would have done what I could to help them. It is only those who run and hide who get repoed. I get that stuff charged back to me and then I have to sell it again! I worked hard enough to sell it the first time, I don't want to have to do it again!
ptschram
Well-known member
Topics like this are worthless unless the comments come from people in the business. All the Johnnie Homeowners who don't understand the business have no idea how different it is from a regular retail business.
And for Wafredrick, it's the same old baseless rumors and half stories. I heard, didn't happen to me but I know a guy, etc, etc.
It's a hard business, but for those that put in the work the rewards are very handsome.
I assume this wasn't directed toward me.
blown94conv
Well-known member
I assume this wasn't directed toward me.
It wasn't. It was meant to validate the people who know the business, AKA you and the guys that are in it VS the guys who have never stepped on a tool truck but know how it works.
ptschram
Well-known member
It wasn't. It was meant to validate the people who know the business, AKA you and the guys that are in it VS the guys who have never stepped on a tool truck but know how it works.
I'm still learning!
MDK22
Well-known member
Not worth it. It sounds cool but, unless you have 500k-750K to invest you are not going to make it. I have talked with many different tool men SO, Mac, Matco are the brands. They force inventory on you regardless of what you want and or can sell. Franchises try like any business to makes as much as possible ie (Screw over their customer which is the Tool Truck Driver not the mechanics/shops/techs) SO, MAC, Matco are in business with the Tool trucks. Don't think it is any other way. They f... you on your truck payments, your tool inventory, your warranty repairs, etc. Back orders are rampant any more I have a drill bit 6 months back order from SO and he is not bullsh..ing me either. DO you think the mechanic understands when he needs that tool. Nope doesn't give two... about it. He will buy from who has it whether it be another truck or the internet. When it finally comes in guess what he isn't going to buy it and now you are stuck with it.
The story is all the same only people that stick around are those who have done it for years or have a huge capital and buy into an old well established route.
I am a mechanic. I buy tools and pay my tool guys. I know of at least 4 people out of 20 in my shop that don't pay much. I also know of a bunch that underpay. As far as I can tell there are 3 people that pay the proper amount or more. They control whether the tool man shows up often if they keep paying ya. As soon as they taper off so does the tool man. I know cause I am one of the ones that pays my fair share or more. It works that way every where i have been cause without me its not worth it.
The story is the same everywhere you go. Also if you do this free candy is a must and cold drinks (Sell cash only) do get guys on the truck and once their there you can confront them and use peer pressure on those that dont pay. Or you can sell more to those who do. Basically wholesale that for that stuff so BJs or Costco membership.
Stay away from staple items. IE screwdrivers, prybars, wrench sets. The ones that buy these are the younger techs. They are normally the ones that flake out on payments. If you are forced to carry them carry the cheaper ones ie blue point or expert. If they want better they will be willing to wait for it to be ordered. (Problem is you are normally forced to carry them cause they buy what you need.... bean counters) Things that speed up a techs life and that break a lot but, people are forced to use is what you want to stock. Try to stay away from gimmickie things. Like its a vise grip adjustable wrench. No its something to cover your beer cause that is all its good for.
The story is all the same only people that stick around are those who have done it for years or have a huge capital and buy into an old well established route.
I am a mechanic. I buy tools and pay my tool guys. I know of at least 4 people out of 20 in my shop that don't pay much. I also know of a bunch that underpay. As far as I can tell there are 3 people that pay the proper amount or more. They control whether the tool man shows up often if they keep paying ya. As soon as they taper off so does the tool man. I know cause I am one of the ones that pays my fair share or more. It works that way every where i have been cause without me its not worth it.
The story is the same everywhere you go. Also if you do this free candy is a must and cold drinks (Sell cash only) do get guys on the truck and once their there you can confront them and use peer pressure on those that dont pay. Or you can sell more to those who do. Basically wholesale that for that stuff so BJs or Costco membership.
Stay away from staple items. IE screwdrivers, prybars, wrench sets. The ones that buy these are the younger techs. They are normally the ones that flake out on payments. If you are forced to carry them carry the cheaper ones ie blue point or expert. If they want better they will be willing to wait for it to be ordered. (Problem is you are normally forced to carry them cause they buy what you need.... bean counters) Things that speed up a techs life and that break a lot but, people are forced to use is what you want to stock. Try to stay away from gimmickie things. Like its a vise grip adjustable wrench. No its something to cover your beer cause that is all its good for.
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MDK22
Well-known member
To put it simply look at this thread: http://www.garagejournal.com/forum/showthread.php?t=182652&page=12 How much of those tools are tool truck brand only. It is not worth it for the most part any more to buy tool truck brands unless you have too. They are being so poorly made and there are much better options 1/3 the price or less. So if I need a new one i buy a new one odds are im not going to go through 3-4 well made tools in my life time as a tech. If I will I buy tool truck brand and that comes out of the tool truck guys pay so no skin of the techs back.
toolman9w
Well-known member
Not worth it. It sounds cool but, unless you have 500k-750K to invest you are not going to make it. I have talked with many different tool men SO, Mac, Matco are the brands. They force inventory on you regardless of what you want and or can sell. Franchises try like any business to makes as much as possible ie (Screw over their customer which is the Tool Truck Driver not the mechanics/shops/techs) SO, MAC, Matco are in business with the Tool trucks. Don't think it is any other way. They f... you on your truck payments, your tool inventory, your warranty repairs, etc. Back orders are rampant any more I have a drill bit 6 months back order from SO and he is not bullsh..ing me either. DO you think the mechanic understands when he needs that tool. Nope doesn't give two... about it. He will buy from who has it whether it be another truck or the internet. When it finally comes in guess what he isn't going to buy it and now you are stuck with it.
The story is all the same only people that stick around are those who have done it for years or have a huge capital and buy into an old well established route.
I am a mechanic. I buy tools and pay my tool guys. I know of at least 4 people out of 20 in my shop that don't pay much. I also know of a bunch that underpay. As far as I can tell there are 3 people that pay the proper amount or more. They control whether the tool man shows up often if they keep paying ya. As soon as they taper off so does the tool man. I know cause I am one of the ones that pays my fair share or more. It works that way every where i have been cause without me its not worth it.
The story is the same everywhere you go. Also if you do this free candy is a must and cold drinks (Sell cash only) do get guys on the truck and once their there you can confront them and use peer pressure on those that dont pay. Or you can sell more to those who do. Basically wholesale that for that stuff so BJs or Costco membership.
Stay away from staple items. IE screwdrivers, prybars, wrench sets. The ones that buy these are the younger techs. They are normally the ones that flake out on payments. If you are forced to carry them carry the cheaper ones ie blue point or expert. If they want better they will be willing to wait for it to be ordered. (Problem is you are normally forced to carry them cause they buy what you need.... bean counters) Things that speed up a techs life and that break a lot but, people are forced to use is what you want to stock. Try to stay away from gimmickie things. Like its a vise grip adjustable wrench. No its something to cover your beer cause that is all its good for.
This is my last post in this thread.
Never mind.
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theoldwizard1
Well-known member
There's a MOUNTAIN of people who finance all sorts of cheap things at 24%. It's called a credit card.
Snap-On's system is no different.
Anyone financing on a credit card (or Snap-On's credit system) is either foolish or really, really desperate !
If you want Snap-On buy used. Fasteners don't care how old the wrench/socket is !
wafrederick
Well-known member
So your brother bought more than he could afford to pay on and this is Snap On's fault? Did your brother spill a hot cup of McDonald's coffee in his lap by chance?
This dealer put him on it without being told.This dealer is deceased now,put a .45 behind his head and commited suicide a couple years ago.Don't know why he did it to this day.He must of owed money to Snap On,this dealer.Snap On's response was he was having an affair with another woman right away which was probally not true.
wafrederick
Well-known member
Topics like this are worthless unless the comments come from people in the business. All the Johnnie Homeowners who don't understand the business have no idea how different it is from a regular retail business.
And for Wafredrick, it's the same old baseless rumors and half stories. I heard, didn't happen to me but I know a guy, etc, etc.
It's a hard business, but for those that put in the work the rewards are very handsome.
This dealer was being treated like **** by Snap On.Even problems with the district rep having fights with district rep.He was one of two forced right out.Owned his franchise before Snap On owning them.Snap On was not too happy hearing he was seeing customers that owed money to him too
WhiffySpark
Well-known member
- Joined
- Oct 22, 2009
- Messages
- 6,252
This dealer put him on it without being told.This dealer is deceased now,put a .45 behind his head and commited suicide a couple years ago.Don't know why he did it to this day.He must of owed money to Snap On,this dealer.Snap On's response was he was having an affair with another woman right away which was probally not true.
You can't just be put on credit. They need your drivers license, social, you have to get approved sign papers, etc. none of that is needed for a truck account
Coach James
Well-known member
Well, here's my "I know a guy" story. A friend was a Matco dealer for 2 years. He had two trucks that ran in southeast NC. At first, he did ok, not great but he was able to make a small profit. Then the economy turned down and he was losing, in his words, "A lot".
He said his problems were 1. His territory was narrow, but long so his fuel bills were high.
2. Bad economy and guys started bouncing $10 and $15 payment checks. Then they didn't have the money to cover their check and the returned check fees so he was losing more money.
3. He had a few incidents where he had to repo tools or boxes and the tech got physical.
4. Bad economy and fewer guys were making large purchases or any purchases.
He said that in a good economy with a good route, it could have been a nice business, but his situation wasn't working for him. After 2 years, he found someone willing to take over his routes (Buy him out?) and he left it behind.
He had no complaints about Matco or the tools.
Coach
He said his problems were 1. His territory was narrow, but long so his fuel bills were high.
2. Bad economy and guys started bouncing $10 and $15 payment checks. Then they didn't have the money to cover their check and the returned check fees so he was losing more money.
3. He had a few incidents where he had to repo tools or boxes and the tech got physical.
4. Bad economy and fewer guys were making large purchases or any purchases.
He said that in a good economy with a good route, it could have been a nice business, but his situation wasn't working for him. After 2 years, he found someone willing to take over his routes (Buy him out?) and he left it behind.
He had no complaints about Matco or the tools.
Coach
Dirty Diesels
Well-known member
So your brother bought more than he could afford to pay on and this is Snap On's fault? Did your brother spill a hot cup of McDonald's coffee in his lap by chance?
I'd take no notice of this guy, (wafredrick) he is always stirring the pot about snap on, on matco's facebook page, stupid!