Matco Tools
Mechanics' tools and equipment- 2023 Franchise 500 Rank
-
#31 Ranked #29 last year
- Initial investment
-
$77K - $309K
- Units as of 2022
-
1,919 6.0% over 3 years
Where else can you run a mobile company that blends a love of cars, service, and freedom of the road?
Matco Tools manufactures and distributes automotive repair tools, diagnostics, and toolboxes with a product line of over 25,000 items. Matco has more than 1,750 franchisees across the U.S. and Canada. As a franchisee, you may sell Matco Tools products to anyone from car enthusiasts to auto mechanics.
Matco Tools was founded in 1979 and began franchising in 1993.
Why You May Want to Start a Matco Tools Franchise
You may need to lease or purchase a truck for the job, but this truck generally becomes your business's home. Your business on wheels speaks for itself: no office, no rent payments, and a flexible schedule. You might also receive a protected territory and individualized route to visit any one of the predetermined customers.
Though working for yourself is typically a great perk of owning a franchise, the service end is equally important. When you work for Matco Tools, you try to save auto technicians time and money by bringing them exactly what they need to keep going. When they have the right tools to stay in business, you usually do too.
What Might Make a Matco Tools a Good Choice?
To be part of the Matco Tools team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
If you're a veteran, you may receive incentives in the form of a discount off the initial investment. You might also get the branding and marketing you need without having to pay an ongoing royalty or ad royalty fee.
It's no wonder Matco Tools has been ranked in Entrepreneur’s Franchise 500 many times in recent years. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
How To Start a Matco Tools Franchise
To start your Matco Tools franchise, you should make sure that you have done research and find out if this opportunity is a good fit for you. If you have, you may reach out to them via a franchise request form.
After submitting the form, a franchise sales manager might get in touch with you and review your application. This is your chance to ask questions. Many of the franchise sales managers were once Matco Tools franchisees, so they may know what it's like to be on the other end. If they determine that you're a good fit for the franchise, they generally send you the Franchise Disclosure Document.
If you still want to open a Matco Tools franchise after reviewing the Franchise Disclosure Document, you might go on a few truck rides with local franchisees. Additionally, as a potential franchisee, you will receive dozens of hours of classroom and on-the-job training. Matco Tools strives to teach you how to use their business model to your full advantage.
Company Overview
About Matco Tools
- Industry
- Retail
- Founded
- 1979
- Parent Company
- Vontier
- Leadership
- Timothy Gilmore, President
- Corporate Address
-
4403 Allen Rd.
Stow, OH 44224
Business Overview
- Franchising Since
- 1993 (2023-1993 years)
- # of employees at HQ
- 340
- Where seeking
-
This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Canada
- # of Units
- 1,919 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a Matco Tools franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
-
Initial Franchise Fee
Information Circle - $8,000
-
Initial Investment
Information Circle - $76,819 - $309,133
-
Net Worth Requirement
Information Circle - $25,000
-
Cash Requirement
Information Circle - $5,000 - $13,500
-
Veteran Incentives
Information Circle - $10,000 off initial inventory
-
Term of Agreement
Information Circle - 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Matco Tools offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
- Third Party Financing
- Matco Tools has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 80 hours
- Classroom Training
- 90 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
-
Can this franchise be run from home/mobile unit?
Information Circle - Yes
-
Can this franchise be run part time?
Information Circle - No
-
Are exclusive territories available?
Information Circle - Yes
Interested in ownership opportunities like Matco Tools? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Matco Tools landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Matco Tools ranked on other franchise lists? Find out below.
Ranked #31 in 2023
Entrepreneur’s 44th annual Franchise 500® ranking shines a light on the unique challenges and changes that have shaped the franchise industry over the last year—and how franchisors have adapted and evolved to meet them.
Ranked #4 in 2023
Check out the top franchises that offer you the freedom of working from home or on-the-go.
Ranked #38 in 2023
Top Global Franchises
Ranked #3 in 2023
Buying a franchise on a budget? No problem. Here are the top franchises that can be started for less than $100,000. For more low-cost opportunities, see our lists of franchises that can be started for less than $50,000 and less than $150,000.
Ranked #5 in 2022
Our ranking of the top 150 franchises offering incentives and other programs to help veterans become franchisees.
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