MATCO TOOLS Franchising Information & Startup Cost
Matco Tools is a mechanics’ tools and equipment manufacturing and distributing company. The company currently offers entrepreneurs and business oriented people that chance to open a franchise store with them provided they are interested. Matco Tools is looking for new franchisees across the United States of America and also in Canada.
If you want to “Get on the other side of the wrench”, and desire to operate a tool and equipment business, then Matco Tools is not a bad idea.
In this article, we will be considering Matco Tools and what entrepreneurs get to gain from it as a franchise.
We will begin by taking a look at the history of Matco Tools and that of its people.
Next, we will be considering the various costs that will be incurred by the franchisee. These costs are the franchise cost, franchise fee, and startup cost. Other things to be considered are the minimum net worth and the liquid cash requirement that is expected of the intending franchisee
We shall also be examining the training and support that the franchisee receives from Matco Tools to help grow their business.
The terms of the franchise agreement or renewal will also be considered. Finally, information on how to successfully open a Matco Tools franchise will be provided.
Is Matco Tools a Franchise?
Yes, Matco Tools is a company that runs a franchise program. As a franchisor, Matco Tools offers aspiring franchisees a gateway through which they can enter into a merchant agreement that grants the franchisee the authority to acquire, resell and service the products (tools and toolboxes) under the Matco Tools name.
The company was founded in 1979. It became a franchise 14 years later in 1993, and it has been running as a franchise for 25 years now. Matco Tools is a subsidiary of a parent company Danaher Corporation.
Matco Tools, since 1979 when it was founded has been heavily involved in the engineering, delivery, and repairing of automotive equipment. Presently the company has grown to have a line of products that number over 13,000. Also, they have well over 1,500 active franchisees in operations around the United States, Puerto Rico and Canada.
Matco Tools presently has its headquarters at 4403 Allen Rd. Stow, OH 44224, USA. The company has different locations in all 50 states of America, and also in Puerto Rico and Canada.
The current Chief Executive Officer (CEO) of the company is Timothy Gilmore.
How Much Does Matco Tools Franchise Cost?
Those who want to become a Matco Tools franchisee are required to be able to invest an initial minimum of USD$91,385. Investments, however, could be as high as USD$269,565. A liquid cash requirement of USD$ 30,000 is also expected to be shown by the franchisee.
More Information is found on the company’s website www.matcotools.com
Matco Tools Franchise Fee
Business persons who wish to run a Matco Tools franchise need to sign the franchise agreement, after which they are to pay an initial franchise fee of USD$7,000 which is expected to be paid in full. The franchise fee is also nonrefundable.
Matco Tools does not collect royalty fee and Ad fees. Check the website to know more.
Matco Tools Startup Cost
Proposing franchisees for Matco Tools must have a minimum net worth of USD$33,000 which would help in running the early days of the business. Also as noted earlier, they should be able to invest a minimum of USD$91,385. Proposing franchisees should contact the company for further clarifications.
Matco Tools Franchise Training and Supports
Matco Tools provides its franchisees with training and support that allows them to be able to successfully build the brand.
The training provided includes;
- An initial classroom training at the company’s headquarters for at least 70 hours.
- Training also continues at the company’s onsite location for at least 70 hours.
- District meetings also offer opportunities for the franchisee to be trained.
The support options that are provided for the franchisees comprise;
- Regular and up-to-date newsletter.
- A toll-free line for making inquiries.
- Online support in case any problem arises.
- Security and safety measures in case of emergencies.
- Dedicated franchisee intranet platform or software.
- Help is developing the franchisee’s website.
- Regional and co-op advertising.
- Help in selecting a site for the franchisee.
Matco Tools Franchise Terms of Agreement/Renewal
The original contract term lasts for 10 years with a possibility to renew after the period of 10 years provided the franchisee meets all the terms of the initial contract.
The cost for the renewal is not known, but entrepreneurs seeking to be franchisees need to communicate with the company directly through the company’s website.
How Much Does a Matco Tools Franchise Make?
The sum that a Matco Tools franchise makes cannot be specified. This is majorly due to factors like the location and size of the outlet.
Other factors that affect the sales also include the time dedicated to the business and to making profit; rest assured that Matco Tools will give you all the support that you need.
How to Open a Matco Tools Franchise?
For entrepreneurs who desire to open a Matco Tools franchise, contact the company directly through the company’s website. You can also send all your inquiries through the website.