How many franchised Benihana outlets were operating at the end of fiscal year 2023?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| OUTLET TYPE | YEAR | OUTLETS AT THE START OF THE YEAR | OUTLETS AT THE END OF THE YEAR | NET CHANGE* (+ or -) |
|---|---|---|---|---|
| Franchised | 2022 | 6 | 6 | 0 |
| 2023 | 6 | 7 | 1 | |
| 2024 | 7 | 8* | 1 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION LIST OF OUTLETS (FDD pages 67–72)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, there were 7 franchised outlets operating at the end of fiscal year 2023. The provided table details the status of franchised outlets for the fiscal years 2022, 2023, and 2024. In 2023, the number of franchised Benihana locations increased by one, starting the year with 6 outlets and ending with 7.
This information is crucial for potential franchisees as it provides a clear picture of the franchise's growth and stability. The increase in franchised locations indicates a positive trend, which may be attractive to new investors. However, it's important to consider the net change in the context of the overall number of outlets and the specific reasons for any changes.
Prospective franchisees should also note that one franchised outlet in Michigan closed after the end of FY 2024 but before the issuance of the 2024 FDD. While this closure is included in the FY 2024 totals, it is important to consider when evaluating the overall performance and stability of the Benihana franchise system. Reviewing the complete Item 20 tables and exhibits will give a more comprehensive understanding of outlet openings, closures, and transfers within the Benihana system.