What was the reported net loss for Benihana at the balance on January 1, 2021?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
spitality, | | | | | Inc. | | |
(1) These expenses are being shown as a percentage of owned restaurant net revenue.
The following table presents a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA for the periods indicated (in thousands):
| 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 net loss attributable to The ONE Group Hospitality, Inc. for the year ended December 31, 2020, was $12,825. The net loss attributable to noncontrolling interest was $798. The total net loss was $13,623 for the same period.
These figures reflect the financial challenges Benihana faced during that period. Potential franchisees should consider these historical losses in the context of more recent financial performance to understand the brand's trajectory.
It's important to note that these figures are from 2020, and the FDD also provides data for 2021 and 2022, which show significant changes in net income. Reviewing these trends will give a more complete picture of Benihana's financial health. A prospective franchisee should investigate the reasons for the losses in 2020 and how Benihana has addressed those challenges to improve profitability.