What was the total income from financing operations for Cornwell Quality Tools?
Cornwell_Quality_Tools Franchise · 2025 FDDAnswer from 2025 FDD Document
| Cornwell Quality Tools Company | CQT Kennedy, LLC | Eliminations | Consolidated | |
|---|---|---|---|---|
| SALES Less: Dealer weekly volume incentives | $ 251,915,684 4,853,504 | $ 22,648,171 | $ (12,862,937) | $ 261,700,918 4,853,504 |
| Sales - Net | 247,062,180 | 22,648,171 | (12,862,937) | 256,847,414 |
| COST OF GOODS SOLD | 178,516,201 | 23,648,832 | (12,862,937) | 189,302,096 |
| Gross profit | 68,545,979 | (1,000,661) | - | 67,545,318 |
| EXPENSES | ||||
| Shipping and warehousing | 6,300,877 | 2,300 | 6,303,177 | |
| Selling | 21,791,074 | 646,761 | 22,437,835 | |
| General and administrative | 13,068,550 | 1,259,995 | - | 14,328,545 |
| Employee stock ownership plan contribution | 5,000,000 | - | - | 5,000,000 |
| Goodwill amortization expense | - | 848,375 | - | 848,375 |
| Total expenses | 46,160,501 | 2,757,431 | - | 48,917,932 |
| Income (loss) before financing operations | 22,385,478 | (3,758,092) | • | 18,627,386 |
| FINANCING OPERATIONS | ||||
| Revenues | 19,598,514 | - | - | 19,598,514 |
| Other financing income | 1,069,676 | 1,069,676 | ||
| Total financing income | 20,668,190 | - | - | 20,668,190 |
| Expenses | 7,213,203 | _ | · · | 7,213,203 |
| Income from financing operations | 13,454,987 | _ | _ | 13,454,987 |
Source: Item 23 — RECEIPT (FDD pages 101–373)
What This Means (2025 FDD)
According to Cornwell Quality Tools' 2025 Franchise Disclosure Document, the income from financing operations for Cornwell Quality Tools Company was $13,454,987. This figure represents the earnings derived specifically from the company's financing activities, after deducting any associated expenses.
For a prospective franchisee, this indicates that Cornwell Quality Tools not only generates revenue from sales but also from its financing operations. The income from financing operations can be a significant contributor to the overall profitability of Cornwell Quality Tools.
It is important to note that this income is part of the consolidated financial results, which include Cornwell Quality Tools Company, CQT Kennedy, LLC, and eliminations for intercompany transactions. The franchisee should consider this number in the context of the overall financial health and stability of Cornwell Quality Tools.