What was the revenue recognized from advanced party deposits for Benihana as of December 31, 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
--|--------------|--------------| | | 2022 | 2021 | | Deferred license revenue (1) | 297 | 388 | | Deferred gift card revenue (2) | 1,680 | 1,769 | | Advanced party deposits (2) | 435 | 260 | | Konavore rewards program (3) | 163 | 136 |
(1) Includes the current and long-term portion of deferred license revenue which are included in other curre
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the revenue recognized from advanced party deposits as of December 31, 2022, was $248. This figure reflects the amount of revenue that Benihana recognized during that year from deposits received for parties or events that had not yet occurred.
For a prospective Benihana franchisee, this indicates the level of revenue that can be expected from advanced bookings. Monitoring this revenue stream can be important for managing cash flow and forecasting future sales.
It's also important to note that deferred gift card revenue and advance party deposits on goods and services yet to be provided are included in deferred gift card revenue and other on the consolidated balance sheets.