CORNWELL

Cornwell's initial investment ranges from $79,525 to $323,825 per Item 7, mainly covering a required $60,000 minimum inventory purchase from the franchisor at dealer net prices—no upfront franchise fee or ongoing royalties, just a $50/month software fee. This funds your truck/van setup as a 'rolling tool store' targeting mechanics in repair shops and fleets. Item 19 shines here: average gross revenue hits $613,648 with a median of $578,875 across existing units, suggesting solid top-line potential for dedicated owner-operators in the specialty retail space.

The system's health shows stability with 793 locations after a flat year (795 in 2023 to 793 in 2024), 130 projected new units, 25 transfers, but 30 terminations signaling some churn. SBA data reveals 24 loans averaging $76,054 with an 8.3% default rate—better than many but worth scrutinizing. Litigation centers on franchisor suits for unpaid tool purchases (30 cases) and franchisee class actions over terminations and labor issues, hinting at tense exits; still, no ad fund and fee-free structure could appeal if you're hands-on and sales-driven.