What was the net income (loss) for Benihana in 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2021 2020 Revenues: Owned restaurant net revenue 95.4 % 96.2 % Management, license and incentive fee revenue 4.6 % 3.8 % Total revenues 100.0 % 100.0 % Cost and expenses: Owned operating expenses: Owned restaurant cost of sales (1) 25.5 % 24.9 % Owned restaurant operating expenses (1) 54.7 % 63.7 % Total owned operating expenses (1) 80.2 % 88.6 % General and administrative (including stock-based compensation of 1.3% and 1.2% for the years ended December 31, 2021 and 2020, respectively) 9.2 % 9.8 % Depreciation and amortization 3.9 % 7.1 % COVID-19 related expenses 2.1 % 3.9 % Transaction costs 0.1 % 0.8 % Lease termination expenses 0.7 % 2.3 % Agreement restructuring expenses 0.2 % 0.3 % Pre-opening expenses 0.4 % 0.1 % Other income, net —% —% Total costs and expenses 93.0 % 109.6 % Operating income (loss) 7.0 % (9.6)% Other (income) expenses, net: Interest expense, net of interest income 1.4 % 3.8 % Loss on early debt extinguishment 0.2 % —% Gain on CARES Act Loan Forgiveness (6.7)% —% Total other (income) expenses, net (5.1)% 3.8 % Income (loss) before provision (benefit) for income taxes 12.1 % (13.4)% Provision (benefit) for income taxes 0.6 % (3.8)% Net income (loss) 11.5 % (9.6)% Less: net income (loss) attributable to noncontrolling interest 0.2 % (0.6)% 11.3 % (9.0)% | For the year ended December 31, |
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Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the provided financial data only includes information up to December 31, 2021. Therefore, the document does not contain the specific net income or loss figure for the year 2022. The document provides a breakdown of revenues, costs, expenses, and income (loss) percentages for the years 2020 and 2021.
Specifically, the table details various financial metrics such as owned restaurant net revenue, management, license and incentive fee revenue, and total revenues. It also outlines cost and expense items like owned restaurant cost of sales, operating expenses, general and administrative costs, depreciation, COVID-19 related expenses, and other financial items. The document shows that Benihana had a net income of 11.5% in 2021 and a net loss of (9.6)% in 2020.
To obtain the net income or loss for 2022, a prospective franchisee should directly request this information from Benihana. Understanding the trend in net income or loss is crucial for evaluating the financial health and stability of the franchise, which is a key factor in making an informed investment decision.