An employee who qualifies for the Veteran’s Discount is not eligible for any employee discount, but will receive the Veteran’s Discount. From time to time during the effective period of the 2019 disclosure document, Snap-on may make available to certain groups of Snap-on employees the opportunity to purchase an initial Snap-on franchise and provide a discount on the initial inventory. If the principal is a veteran of the United States Armed Forces who has been honorably discharged and you are purchasing your initial Snap-on franchise, you will receive inventory with a franchisee cost of $20,000 at no cost to you (“Veteran’s Discount”). This incentive is available to an existing franchisee who converts an additional van to an Additional Franchise. Except as so provided, you will have no further obligation to Snap-on Tools for the Inventory Incentive.If, for any reason other than a transfer of business assets of the Additional Franchise to a franchisee through transfer, either (i) the Additional Franchise is terminated or (ii) you cease operating the van under the Additional Franchise during the first year after you start, you will be required to pay Snap-on Tools the entire Inventory Incentive you originally received, which will be immediately due and payable. For that reason, in order to earn the Inventory Incentive, you must operate the business under the Additional Franchise for a minimum of one year unless you transfer it to a franchisee approved by Snap-on Tools. ![]() ![]() ![]() This incentive is designed to assist you in starting your Additional Franchise and providing ongoing continuity in the operation of that franchise. If you are purchasing an Additional Franchise, you will receive inventory having a franchisee cost of $20,000 at no cost to you (the “Inventory Incentive”). Under the following circumstances, you will pay a lesser amount for your initial inventory or receive additional inventory without cost to you:.After the initial inventory, you will make all decisions regarding inventory items you desire to purchase. Snap-on Tools pre-selects your initial inventory so that you have a balanced inventory to start your franchise.You must purchase an initial inventory, which Snap-on Tools pre-selects for you, with a suggested retail price approximately between $172,000 to $188,000 and a cost to you approximately between $114,500 to $125,000.You will receive initial training for you or your employee and the technology package, but you will not receive the turnkey office supply package.Ģ. If you are purchasing a Transfer Franchise, other than as an Additional Franchise, you will pay a transfer fee of $12,000, unless a different transfer fee is specified in the selling franchisee’s Franchise Agreement. This fee does not include initial training, the technology package, or the turnkey office supply package. If you are purchasing a Renewal Franchise, you pay an initial license fee of $8,000. If you are purchasing an Additional Franchise, which includes the purchase of assets by an existing franchisee from an existing franchisee to add an additional franchise, or if you currently operate an additional van under a Franchise Agreement and meet all the requirements to make that a franchise, your initial license fee will be $12,000 and you will receive initial training for your employee, the technology package, and the turnkey office supply package. Under the following circumstances the initial license fee and what is included in the initial license fee will vary:. ![]()
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