Franchise Direct Ranks Snap-on Sixth Among Global Franchises
KENOSHA, Wis., May 23, 2011 (BUSINESS WIRE) -- The Snap-on® Franchise has been ranked sixth among 5,000 global franchises evaluated by Franchise Direct in its annual Global Franchises report. Franchise Direct is a leading source of information for franchise business opportunities, targeting North America and Europe. Snap-on was the top ranked tool franchise by a wide margin.
"Snap-on is honored to be designated as one of the world's leading franchise systems. It's a tribute to the more than 4,500 Snap-on franchisees worldwide and their contributions to the strength of our system," says Nick Pinchuk, Chairman and CEO, Snap-on Incorporated. "As one of the largest and most successful franchises in the world, we believe our business model, long-term stability, available in-house financing, training and support make Snap-on a quality opportunity for potential franchisees globally, and this recognition from Franchise Direct speaks positively about our network."
Franchise Direct researched 5,000 franchises to determine its ranking based on several criteria, including system size and revenue; stability and growth; number of years in operation; best practices in franchisee support and training; and social responsibility.
Franchise Direct says of the franchises recognized in its ranking: "The franchises in the Top 100 all share a defined identity, a clear business plan, a commitment to training and support, an ability to innovate and sensitivity to environmental issues." Additionally, Franchise Direct notes that the franchises chosen are "performing best on an international level."
Snap-on Incorporated (NYSE: SNA) is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as customers in industry, government, agriculture, aviation and natural resources. Products and services are sold through the company's franchisee, company-direct, distributor and Internet channels. Founded in 1920, Snap-on is a $2.6 billion, S&P 500 company headquartered in Kenosha, Wisconsin.
For additional information on Snap-on, visit www.snapon.com.
SOURCE: Snap-on Incorporated
Richard Secor, 262/656-5561
Leslie Kratcoski, 262/656-6121