What was the total shipping and warehousing expenses 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 |
| Income (loss) from operations | 35,840,465 | (3,758,092) | - | 32,082,373 |
| OTHER INCOME (EXPENSE) | ||||
| Interest expense | (239,390) | (8,261) | - | (247,651) |
| Interest income | 325,161 | - | 325,161 | |
| Other expense - Net | (65,670) | (200) | - | (65,870) |
| Other income (expense) - Net | 20,101 | (8,461) | _ | 11,640 |
| Income (loss) before taxes | 35,860,566 | (3,766,553) | 32,094,013 | |
| PROVISION FOR INCOME TAXES | 8,172,529 | 31,969 | - | 8,204,498 |
| NET INCOME (LOSS) | $ 27,688,037 | $ (3,798,522) | $ - | $ 23,889,515 |
| Cornwell Quality Tools Company | CQT Kennedy, LLC | Eliminations | Consolidated | |
|---|---|---|---|---|
| SALES | $ 263,809,059 | $ 20,649,053 | $ (12,626,412) | $ 271,831,700 |
| Less: Dealer weekly volume incentives | 5,366,536 | - | 5,366,536 | |
| Sales - Net | 258,442,523 | 20,649,053 | (12,626,412) | 266,465,164 |
| COST OF GOODS SOLD | 191,198,768 | 18,763,136 | (12,626,412) | 197,335,492 |
| Gross profit | 67,243,755 | 1,885,917 | 69,129,672 | |
| EXPENSES | ||||
| Shipping and warehousing | 7,106,988 | 3,898 | 7,110,886 | |
| Selling | 22,632,961 | , 627,597 | 23,260,558 | |
| General and administrative | 14,485,569 | 1,141,978 | . | 15,627,547 |
| Employee stock ownership plan contribution | 5,700,000 | -,, | _ | 5,700,000 |
| Goodwill amortization expense | 848,375 | - | 848,375 | |
| Total expenses | 49,925,518 | 2,621,848 | • | 52,547,366 |
| Income (loss) before financing operations | 17,318,237 | (735,931) | 16,582,306 | |
| FINANCING OPERATIONS | ||||
| Revenues | 23,244,507 | - | _ | 23,244,507 |
| Other financing income | 1,331,492 | - | - | 1,331,492 |
| Total financing income | 24,575,999 | - | 24,575,999 | |
| Expenses | 10,477,911 | 10,477,911 | ||
| Income from financing operations | 14,098,088 | - | 14,098,088 | |
| Income (loss) from operations | 31,416,325 | (735,931) | - | 30,680,394 |
| OTHER INCOME (EXPENSE) | ||||
| Interest expense | (116,056) | (62) | - | (116,118) |
| Interest income | 854,468 | - | 854,468 | |
| Other expense - Net | (5,203,419) | (5,203,419) | ||
| Other expense - Net | (4,465,007) | (62) | (4,465,069) | |
| Income (loss) before taxes | 26,951,318 | (735,993) | 26,215,325 | |
| PROVISION FOR INCOME TAXES | 6,499,937 | 37,267 | - | 6,537,204 |
| NET INCOME (LOSS) | $ 20,451,381 | $ (773,260) | $ - | $ 19,678,121 |
Source: Item 23 — RECEIPT (FDD pages 101–373)
What This Means (2025 FDD)
According to Cornwell Quality Tools' 2025 Franchise Disclosure Document, the consolidated shipping and warehousing expenses for the company in 2023 were $6,303,177. This figure combines the expenses of Cornwell Quality Tools Company ($6,300,877) and CQT Kennedy, LLC ($2,300).
In 2022, the consolidated shipping and warehousing expenses totaled $7,110,886. This amount includes $7,106,988 for Cornwell Quality Tools Company and $3,898 for CQT Kennedy, LLC.
These expenses are a component of the overall expenses incurred by Cornwell Quality Tools and its subsidiary. Monitoring these costs can provide insight into the efficiency of the supply chain and distribution network. For a prospective franchisee, understanding these figures in relation to sales and other expenses can help evaluate the financial health and operational effectiveness of the Cornwell Quality Tools franchise system.