Update: Did my ride along with the Cornwell guy today.
I was a very good experience. The dealer is very laid back. I rode along for about 4 hours. Hit a nice smattering of shops, body, Harley, dealers and independents.
I learned quite a bit during my time. This dealer wants to modify his route and give up a majority of his current route and start heading south, so I would pickup all of these accounts. The other dealer in this area wants to modify as well and go north, leaving a large portion of his route open as well. So that leaves me sitting smack in the middle of a pretty well established territory. All told, there is about 800 or so accounts (that is a guess, I have not met the other guy and the area rep says his portion of the area is quite a bit smaller).
The dealer carries about $500 in credit for techs. He started at 300, but moved it up as he got to know people. He really concentrates on the hardline and specialty stuff. He tells me not to get too ******* trying to move tool boxes. They sell, but it is much more difficult, so he goes with flow on those. He did sell a new HUGE Cornwell box, custom built the customers design. 96" I think, custom drawers the works. He took the old Snap On box in trade, sold that (took a even smaller Snap On in trade on that) sold that one and ended up with about 5k in profit after the whole shebang. Sounds like a good turnaround on some work.
In the four hours I was there, I think he sold about $1000 in new sales, and maybe $800 in collections on previous sales. If things go the same the rest of the day, probably double that or so.
Each shop was glad to see the truck. Very friendly towards me as a ride along. I find it VERY EASY to hang and BS with the guys. Good for relations and trust, bad for keeping up with the route!
The dealer and route are in the top 50 of all Cornwell sales, but saying that, I see lots of opportunity to expand and create new business.
Now that I have seen the figures on the current business, both this route and nationwide for Cornwell, I am pretty sure that things are not as dire as many people have stated. I am sure that there are problems with routes here and there, but the folks who work on bikes, cars, trucks etc for a living, rely on their dealers. Even when they can buy elsewhere for their PERSONAL needs. There were 4 guys, all at different shops that bought a tubing bender for their home shops. They all were building cages for different things and they went to their dealer for the tool. Could have bought it on the internet but didn't.
On Cornwell as a company: They are by far the best that I have dealt with. MAC sent me a PDF for me to sign before any info of any kind, even though he said he was sending the route details etc. Matco sent me a DVD, no phone call, no email other that the auto response that they received my request. Never did look at Snap On, I have no interest in dealing with a franchise fee that is adjustable.
The local Cornwell rep called me the next day to chat. Answered my questions and got me in touch with the local dealer. Sent me next day air a full 3 inch thick packet with all of the info. Franchisee info, contracts, terms for the buy in, top 100 dealers totals for the year to date, contact info for just about everyone at the company and dealers across the US etc, etc, etc. All I needed to do was sign a paper saying that I received the info in the packet (I assume to show the regional managers are doing stuff).
I like the fact that Cornwell is privately held. Management can concentrate on making tools, marketing etc and not kowtowing to shareholders that have ZERO idea of the business and what it takes to keep it going, growing and successful. They only sell to the tool truck guys. They do not sell in any other way. Always a plus when you don't have competition coming from the company you represent.
The bad part: Now that I have done that, my wife is getting nervous. She doesn't understand why I would want to give up the job I have for the risk and uncertainty of moving into something like this. I can understand her trepidations. I have the same concerns.
I plan on going to the dealers meeting this Saturday and meet all the other dealers in the area. The number one Cornwell dealer in the nation is here in western Washington, so that should be beneficial. I will pick all their brains, see what these guys are doing to stay ahead etc.
After that, time to lay it all out on paper. Pro's, con's, costs etc. See where I would be at.
Whew. I am nervous and excited at the same time.
Thanks to all who have contributed to this thread with their experiences, opinions and encouragement, (even the discouragement!)
