What was the total revenue from sales for Cornwell Quality Tools in 2024?
Cornwell_Quality_Tools Franchise · 2025 FDDAnswer from 2025 FDD Document
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CONSOLIDATING STATEMENT OF OPERATIONS
YEAR ENDED DECEMBER 31, 2024
FROM PRESENT
| Cornwell | ||||
|---|---|---|---|---|
| Quality Tools | CQT | |||
| Company | Kennedy, LLC | Eliminations | Consolidated | |
| SALES | $ 275,055,223 | 23,256,268 | (14,828,378) | $ 283,483,113 |
| Less: Dealer weekly volume incentives | 4,922,200 | 203,951 | (1-1,020,570) | 5,126,151 |
| Sales - Net | 270,133,0 |
Source: Item 23 — RECEIPT (FDD pages 101–373)
What This Means (2025 FDD)
According to Cornwell Quality Tools's 2025 Franchise Disclosure Document, the total consolidated sales for 2024 were $283,483,113. This figure is derived from the sum of Cornwell Quality Tools Company sales of $275,055,223 and CQT Kennedy, LLC sales of $23,256,268, less eliminations of $14,828,378. After deducting dealer weekly volume incentives of $5,126,151, the net sales for 2024 amounted to $278,356,962.
For a prospective Cornwell Quality Tools franchisee, understanding the sales revenue is crucial as it reflects the overall demand for the company's products. The deduction of dealer incentives indicates a strategy to boost sales volume through dealer programs. The relationship between gross sales, incentives, and net sales provides insight into the effectiveness of these sales strategies and the actual revenue realized by the company.
It's important to note that these figures represent consolidated sales, including those of the parent company and its subsidiary. Franchisees should focus on understanding how their individual sales performance contributes to the overall revenue and how the franchisor supports their sales efforts through incentives and other programs. Further due diligence would involve comparing these figures with previous years and industry benchmarks to assess the stability and growth potential of Cornwell Quality Tools.