What revenue is included in the Benihana STK segment?

According to Benihana's 2024 Franchise Disclosure Document, the STK segment's revenue includes several components. Specifically, it encompasses the results of operations from STK restaurant locations, reflecting the revenue generated from these establishments. This indicates that the sales from food, beverages, and other services offered at these restaurants are included in the STK segment's revenue.

In addition to direct restaurant operations, the STK segment also accounts for management, license, and incentive fee revenue derived from the STK brand. This suggests that Benihana generates revenue by managing or licensing the STK brand to other operators, and the fees collected from these activities are attributed to the STK segment. Furthermore, the STK segment includes pre-opening expenses associated with new restaurants under development. While not revenue, these expenses are factored into the segment's overall financial performance.

In summary, the STK segment's revenue for Benihana is not solely based on direct restaurant sales but also includes income from brand management, licensing, and incentive fees. This comprehensive approach to revenue recognition provides a more complete picture of the STK brand's financial contribution to Benihana.