As of December 31, 2021, what was the net value of Benihana's property and equipment?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
inancial statements. We believe that our audit provides a reasonable basis for our opinion.
/s/ Plante & Moran PLLC
We served as the Company's auditor from 2018 to 2021.
Boulder, Colorado
March 19, 2021
F-4
THE ONE GROUP HOSPITALITY, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share information)
| December 31, 2021 | December 31, 2020 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 23,614 | $ 24,385 |
| Accounts receivable | 11,356 | 5,777 |
| Inventory | 3,915 | 2,490 |
| Other current assets | 3,666 | 1,348 |
| Due from re |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the net value of Benihana's property and equipment as of December 31, 2021, was $69,638. In comparison, the net value of property and equipment at the end of the previous year, December 31, 2020, was $67,344.
This figure represents the depreciated value of all physical assets owned by Benihana, such as restaurant buildings, kitchen equipment, furniture, and fixtures, after accounting for accumulated depreciation. It is an important indicator of the company's investment in its physical infrastructure and its ability to maintain and upgrade its facilities.
For a prospective franchisee, this information provides insight into the scale and nature of the assets required to operate a Benihana franchise. While franchisees will be responsible for acquiring and maintaining their own property and equipment, understanding the parent company's asset base can offer a benchmark for assessing investment needs and potential capital expenditures.