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Snap-on 
Machinery & equipment / High-end tools and equipment for transportation
At a Glance | Core Facts | Company Due Diligence | Industry Due Diligence | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | WebOverview
Snap-on Inc. is an American manufacturer and distributor of high-end tools and equipment for professional mechanics and technicians. The company was founded in 1920 by Joseph Johnson and William Seidemann in Milwaukee, Wisconsin. It is headquartered in Kenosha, Wisconsin.
Snap-on offers a wide range of tools and equipment including hand tools, power tools, diagnostic tools, tool storage units, and shop equipment. The company sells its products primarily through its network of independent franchised dealers, online, and through government/military sales channels.
The company has a strong focus on innovation, quality, and customer service. It is known for its high-quality and durable tools that are designed to meet the specific needs of professional technicians. Snap-on also offers a variety of training programs and solutions to help technicians improve their skills and productivity.
Snap-on has a global presence, with operations in over 130 countries. It has 11 manufacturing facilities and employs over 14,000 people worldwide. The company has been consistently ranked among the top 100 most innovative companies in the world by Forbes.
In addition to its main tool business, Snap-on also owns other companies in the automotive industry, including Snap-on Diagnostics, Sun Electric, and Challenger Lifts. The company also sponsors motorsports teams and events, further solidifying its presence in the automotive industry.
Overall, Snap-on is a reputable and well-respected company in the tool and automotive industry, known for its high-quality products, innovation, and commitment to serving the needs of its customers.
Snap-on offers a wide range of tools and equipment including hand tools, power tools, diagnostic tools, tool storage units, and shop equipment. The company sells its products primarily through its network of independent franchised dealers, online, and through government/military sales channels.
The company has a strong focus on innovation, quality, and customer service. It is known for its high-quality and durable tools that are designed to meet the specific needs of professional technicians. Snap-on also offers a variety of training programs and solutions to help technicians improve their skills and productivity.
Snap-on has a global presence, with operations in over 130 countries. It has 11 manufacturing facilities and employs over 14,000 people worldwide. The company has been consistently ranked among the top 100 most innovative companies in the world by Forbes.
In addition to its main tool business, Snap-on also owns other companies in the automotive industry, including Snap-on Diagnostics, Sun Electric, and Challenger Lifts. The company also sponsors motorsports teams and events, further solidifying its presence in the automotive industry.
Overall, Snap-on is a reputable and well-respected company in the tool and automotive industry, known for its high-quality products, innovation, and commitment to serving the needs of its customers.
What is special about the company?
1. Quality Tools: Snap-on is known for its high-quality, durable tools that are built to last. Their commitment to producing top-quality products has earned them a reputation as one of the best tool companies in the world.
2. Wide Product Range: Snap-on offers a wide range of products to cater to the needs of various industries, including automotive, aviation, and agriculture. They have a vast catalog of tools, equipment, and diagnostic solutions, making them a one-stop-shop for many professionals.
3. Innovation: The company has a strong focus on innovation and improving their products based on customer feedback and market trends. They are constantly investing in research and development to bring new, innovative tools to the market.
4. Customization Options: Snap-on offers customization options, allowing customers to personalize their tools with different colors, engravings, and more. This not only adds a personal touch but also makes the tools easily distinguishable in a busy workspace.
5. Service and Support: Snap-on has an extensive network of trained professionals who provide excellent customer service and support. They offer training, technical support, and on-site assistance to ensure that customers get the most out of their tools.
6. Heritage: The company has a rich history, dating back to 1920 when it was founded by Joseph Johnson and William Seideman. It has a long-standing reputation for quality, reliability, and customer satisfaction.
7. Social Responsibility: Snap-on is committed to being a responsible and ethical company, both in terms of their products and their impact on society. They have initiatives in place to reduce their carbon footprint and promote diversity and inclusion within their workforce.
8. Warranty and Repair: Snap-on offers a lifetime warranty on many of their products, demonstrating their commitment to standing behind the quality and durability of their tools. They also have a comprehensive repair service available for any damaged tools.
9. Global Presence: With a presence in over 130 countries, Snap-on has a global reach and is trusted by professionals worldwide.
10. Brand Recognition: The Snap-on brand is highly recognized and respected, making it a status symbol in the professional tool industry. Many professionals take pride in owning Snap-on tools and consider them a valuable investment in their trade.
2. Wide Product Range: Snap-on offers a wide range of products to cater to the needs of various industries, including automotive, aviation, and agriculture. They have a vast catalog of tools, equipment, and diagnostic solutions, making them a one-stop-shop for many professionals.
3. Innovation: The company has a strong focus on innovation and improving their products based on customer feedback and market trends. They are constantly investing in research and development to bring new, innovative tools to the market.
4. Customization Options: Snap-on offers customization options, allowing customers to personalize their tools with different colors, engravings, and more. This not only adds a personal touch but also makes the tools easily distinguishable in a busy workspace.
5. Service and Support: Snap-on has an extensive network of trained professionals who provide excellent customer service and support. They offer training, technical support, and on-site assistance to ensure that customers get the most out of their tools.
6. Heritage: The company has a rich history, dating back to 1920 when it was founded by Joseph Johnson and William Seideman. It has a long-standing reputation for quality, reliability, and customer satisfaction.
7. Social Responsibility: Snap-on is committed to being a responsible and ethical company, both in terms of their products and their impact on society. They have initiatives in place to reduce their carbon footprint and promote diversity and inclusion within their workforce.
8. Warranty and Repair: Snap-on offers a lifetime warranty on many of their products, demonstrating their commitment to standing behind the quality and durability of their tools. They also have a comprehensive repair service available for any damaged tools.
9. Global Presence: With a presence in over 130 countries, Snap-on has a global reach and is trusted by professionals worldwide.
10. Brand Recognition: The Snap-on brand is highly recognized and respected, making it a status symbol in the professional tool industry. Many professionals take pride in owning Snap-on tools and consider them a valuable investment in their trade.
What the company's business model?
The Snap-on company's business model is centered around selling high-quality tools, equipment, and services to professional technicians and auto repair shops. Their products are sold through a network of franchisees and independent sales representatives. Snap-on also offers financing options and technical training services to their customers. Additionally, they have diversified their business to include other industries such as aerospace, agriculture, and construction. Their goal is to provide customers with innovative, reliable, and durable tools that improve their productivity and efficiency in their work. They also place a strong emphasis on customer relationships and continuously strive to meet their evolving needs.
Interesting facts about the company
1. Snap-on was founded in 1920 by Joseph Johnson and William Seidemann in Milwaukee, Wisconsin.
2. Johnson and Seidemann began by selling 10 sockets from a wagon.
3. The company’s first product was a socket wrench with interchangeable sockets.
4. The name Snap-on comes from the innovative mechanism used to secure the sockets onto the wrench.
5. In the early days, the company primarily sold its tools to auto mechanics and other repair professionals.
6. In the 1930s, Snap-on introduced the first ever chrome-plated, 3/8-inch drive ratchet – a design that is still used today.
7. Snap-on has been listed on the Fortune 500 list of America’s largest companies since 2004.
8. The company has a dedicated research and development center, known as the Snap-on Innovation Works, where they develop new tools and technologies.
9. Snap-on has a strong presence in the motorsports industry and has been the official tool sponsor of NASCAR since 1998.
10. The company also has a partnership with the reality TV show Overhaulin’, where they supply the tools used to restore classic cars.
11. In addition to tools, Snap-on also offers tool storage solutions, diagnostic equipment, and various other products and services for mechanics and technicians.
12. Snap-on tools are sold through a variety of channels, including mobile tool trucks, franchised dealerships, and online.
13. The company has a global presence, with operations in over 130 countries.
14. In 2020, Snap-on celebrated its 100th anniversary, making it one of the oldest and most established tool companies in the world.
15. Snap-on also has a strong focus on giving back to the community, with initiatives such as the Snap-on Foundation that supports technical education and STEM programs.
See Company Due Diligence:
2. Johnson and Seidemann began by selling 10 sockets from a wagon.
3. The company’s first product was a socket wrench with interchangeable sockets.
4. The name Snap-on comes from the innovative mechanism used to secure the sockets onto the wrench.
5. In the early days, the company primarily sold its tools to auto mechanics and other repair professionals.
6. In the 1930s, Snap-on introduced the first ever chrome-plated, 3/8-inch drive ratchet – a design that is still used today.
7. Snap-on has been listed on the Fortune 500 list of America’s largest companies since 2004.
8. The company has a dedicated research and development center, known as the Snap-on Innovation Works, where they develop new tools and technologies.
9. Snap-on has a strong presence in the motorsports industry and has been the official tool sponsor of NASCAR since 1998.
10. The company also has a partnership with the reality TV show Overhaulin’, where they supply the tools used to restore classic cars.
11. In addition to tools, Snap-on also offers tool storage solutions, diagnostic equipment, and various other products and services for mechanics and technicians.
12. Snap-on tools are sold through a variety of channels, including mobile tool trucks, franchised dealerships, and online.
13. The company has a global presence, with operations in over 130 countries.
14. In 2020, Snap-on celebrated its 100th anniversary, making it one of the oldest and most established tool companies in the world.
15. Snap-on also has a strong focus on giving back to the community, with initiatives such as the Snap-on Foundation that supports technical education and STEM programs.
See Company Due Diligence:
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