What is the transfer fee for a Cornwell Quality Tools franchise?
Cornwell_Quality_Tools Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Royalty | None | N/A | N/A |
| Advertising | None | N/A | Cornwell provides promotional material to franchisees at no cost |
| Cooperative Advertising | None | N/A | N/A |
| Additional Training | None | N/A | Cornwell provides opening training free - see Item 11 |
| Additional Assistance | None | N/A | Cornwell provides opening assistance free - see Item 11 |
| Transfer | None | N/A | N/A |
| Lease Payments | None | N/A | As a Cornwell franchisee’s vehicle is the place of business, fees for the leasing of space are not incurred |
| Computer Software Fees | $275 initial fee; $50 monthly fee | Start and monthly | Ironman Business Network, $100 to Cornwell for start-up costs and $175 for credit card servicing vendor software |
Source: Item 6 — OTHER FEES (FDD pages 22–23)
What This Means (2025 FDD)
According to Cornwell Quality Tools's 2025 Franchise Disclosure Document, the transfer fee is listed as none. The table in Item 6 outlines various fees, and the transfer fee is specifically stated as "None." This means that if a franchisee decides to sell or transfer their Cornwell Quality Tools franchise to another party, they will not be charged a transfer fee by the company.
This is a notable benefit for prospective franchisees. Many franchise systems impose transfer fees, which can be a significant expense when a franchisee wants to exit the business. The absence of a transfer fee with Cornwell Quality Tools provides added flexibility and potential cost savings for franchisees who may wish to sell their franchise in the future.
While the FDD states that the transfer fee is currently none, it is important to note that fees can be subject to change in future FDD updates. However, the document also states that these fees will not be increased by more than 10% during the term of this Franchise Disclosure Document.