What were the average comparable STK and Kona Grill restaurant revenues for Benihana in 2022 and 2021?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
spend per transaction is calculated by dividing total restaurant sales by total number of transactions for a specified period. Our management team uses these indicators to analyze trends in customers' preferences, customer expenditures and the overall effectiveness of menu changes and price increases. For our comparable STK restaurants, our average check was $131 for 2022 compared to $114 for 2021. The average spend per transaction was $61 for Kona Grill restaurants for 2022 compared to $56 for 2021.
Average Comparable Restaurant Revenue. Average comparable restaurant revenue consists of the average sales of our comparable restaurants over a certain period of time. This measure is calculated by dividing total comparable restaurant sales in a given period by the to
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the average comparable restaurant revenue for STK restaurants was $19.1 million in 2022 and $16.3 million in 2021. For Kona Grill restaurants, the average comparable restaurant revenue was $5.3 million in 2022 and $5.1 million in 2021.
Benihana calculates average comparable restaurant revenue by dividing the total comparable restaurant sales in a given period by the total number of comparable restaurants during that period. The FDD specifies that the STK Downtown restaurant and rooftop are considered a single venue for this calculation. This metric helps Benihana's management assess changes in customer traffic, pricing strategies, and overall brand development.
For a prospective franchisee, these figures provide insight into the potential revenue that an established STK or Kona Grill location might generate. However, it's important to remember that these are averages, and an individual restaurant's performance can vary based on location, market conditions, and management effectiveness. The document also notes that new restaurants typically experience a 'honeymoon' period with higher sales volumes, followed by a stabilization period of 18 to 24 months after opening, which could impact initial revenue expectations.