Edward Dakhoul has been a Snap-on franchisee for almost a year. But he notched up 13 years with the company before taking the plunge. And he doesn’t regret the move.

“After many years in management I know the business very well.

“When you have a job you just make your money every week and pay your tax. In your own business you can set your own targets and I knew exactly what to expect financially.”

As a mobile business Snap-on doesn’t have the financial drain of leases and rents that a shopfront business sustains, and that appealed to Dakhoul.

“With a mobile van you know your payments – lease the van, buy the tools, fill her up with diesel.”

He admits for him investing in a franchise was a little different from the average franchisee, thanks to his background. But he still got advice and prepared his own business plan.

“After I started at Snap-on it was just about the time of the GFC. But I was determined to go ahead and it’s proved a good decision. I’m more than meeting my financial goals.”

Spending on stock is essential as a continual outgoing, he says. “I’m always re-investing in the business, if you don’t have it, you can’t sell it. I work hard on merchandising and stock, and providing excellent customer service.”

And one good point about the franchise – there are no royalties. “Snap-on is in the business of making tools and that’s how they make their money – by selling them.”