FAQ

Below is a list of frequently asked questions perspective franchise owners have about starting up their own business. Click on the question below to view the answer.

How much money will I need to start my business?

Typically, you will need $30,000 to $40,000 in start-up capital to start your own business. However, funding requirements vary in relationship to your personal budget needs, amount financed and equipment needs. You'll be better able to determine your start amount once you have met with a Matco Tools representative.

What are the total costs I will incur in purchasing a Matco Tools Franchise?

The costs depend on personal budget needs, projected business budget, equipment needs, inventory, and accounts receivable requirements. As part of the "Distributor Driven" process, Matco has policies and procedures permitting candidates to enter the Matco Tools franchise system on a sound financial basis. A Matco Representative will help you determine the exact cost of purchasing a Matco Tools Franchise.

How much can I expect to earn as a Matco Tools Franchisee?

Franchisee Rides will help you to determine actual franchisee earning potential. In the absence of any royalty requirements, Matco has not maintained records on the earnings of its franchise owners. Therefore, Matco does not provide actual or forecasted earnings claims. Franchise candidates can experience the realities of operating a Matco Tools Franchise during orientation days spent with current Matco Distributors.

How are my customers identified?

One of the best things about Matco Tools is that franchisees are given a "List of Calls," which contains at least 400 potential customer names and contact information. Each territory is identified by the District Business Manager through surveys and customer interviews. This helps eliminate time consuming cold calls, while increasing productivity and sales.

Are there fees associated with purchasing a Matco Tools Franchise?

Matco does not charge franchise fees, royalties or advertising fees as a means of permitting new distributors to start their businesses on a sound financial basis. This reduces risks for new franchisees and encourages long-term development and growth for all Matco Distributors. As a manufacturer, we depend on repeat sales through our distributors for income and growth. This relationship makes us true partners with our distributors.

Can I finance any of the costs for entering the franchise?

There are a variety of options to finance your initial investment. Based on your credit history, you may qualify for financing through Matco Tools, commercial banks, Credit Unions, or Savings and Loan Institutions. Some may qualify for loans guaranteed through the Small Business Administration (SBA); others may choose to utilize their 401K funds. A District Manager can assist in the preparation of loan applications and business plans.

What type of training is provided?

New franchise owners go through a two-week training course at Matco Tools' Corporate Headquarters in Stow, Ohio. Once complete, franchise owners will be assigned to a designated Trainer or District Manager to help set up and learn how to operate their new business. During the on-truck training, a course outline will be followed to assure all topics are covered and that required skill levels are reached.

In addition to new franchisee training, Matco Tools provides on-going training to all Matco Tools franchise owners. The investment of time and resources in training Matco Tools franchisees has proven to be a major contributor to the success of the system and our gains in market share.

How do I qualify to become a Matco Tools Franchisee?

Completing the Matco Distributor application and submitting it for preliminary approval permits a detailed analysis of funding requirements, available financing options, and establishes franchise qualifications. Once approved, you will Meet with a Matco Representative to complete your personal business plan and budget. You will choose at least 2 current Matco Franchisees to meet and learn about the mobile tool business. These events will help you to experience the business and learn about the earnings opportunity.

Are their any financial qualifications involved with purchasing a Matco Tools Franchise?

Franchise owners are required to meet a qualifying net worth and credit score. To find out if your credentials meet Matco Tools' franchise requirements, please complete the Preliminary Information Form. Once you have submitted the form, a Matco Tools representative will contact you to discuss your financial background and franchise opportunities further.

Will I be competing with other Matco Tools Franchisees?

No. Each Matco Tools Franchise has their own territory and "List of Calls," so you never have to worry about overlapping or competing with other franchise owners.

Approximately how many miles is each territory?

That can vary from franchise to franchise. If your territory is located in the city, you may cover fewer miles as opposed to a franchise owner whose territory is located in the country.

To get a better feel for the company and what it would be like to own a Matco Tools franchise, can I talk to an existing franchise owner?

Yes. In fact we encourage it. That's because we understand that buying a franchise is a big step for you and your family, so we want to make sure it is the right step for you. Once you have reviewed the reference materials provided, we recommend that you:

• Call current and former Matco Tool Franchise Owners
• Schedule on-truck orientation rides with a couple different Matco Tool Franchise Owners
• Attend District Sales Meetings
• Seek advice from qualified advisors
• Ask many questions

Does Matco Tools provide a software program for me to track sales?

Each Matco Tools Franchisee is equipped with the Matco Distributor Business System. This specially designed software helps franchise owners keep track of sales, special orders, inventory levels, customer account balances, daily and monthly reports, and much more.

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