For Benihana's comparable STK restaurants, what was the average check in 2023?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
period of operation and increase to a steady level approximately 18 to 24 months after opening. Some new restaurants may experience a "honeymoon" period that is either shorter or longer than this time frame.
In 2023, we opened three STK restaurants, three Kona Grill restaurants and two Bao Yum venues under a licensing agreement. Recently the Company exited its licensing agreement with REEF Kitchens and has no venues operating pursuant to that agreement. In 2022, we opened three STK restaurants including two owned restaurants in San Francisco, California and Dallas, Texas, a managed STK restaurant in L
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the average check for comparable STK restaurants was $130 in 2023. This is slightly less than the $131 average check in 2022. The average check is calculated by dividing the total restaurant sales by the total number of guests for a specific period.
Benihana's management team uses the average check to analyze trends in customer preferences, customer expenditures, and the effectiveness of menu changes and price increases. Monitoring this metric helps Benihana understand how well its offerings resonate with customers and whether pricing strategies are effective.
For a prospective franchisee, the average check amount provides insight into the potential revenue per customer transaction at an STK restaurant. While a decrease from the previous year might raise concerns, it's essential to consider broader economic factors and market conditions that could influence customer spending habits. A franchisee should discuss with Benihana the factors that contributed to this change and strategies to maintain or increase the average check amount.