For the Benihana STK segment, what was the total revenue for the year ended December 31, 2023?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| STK | Kona Grill | ONE Hospitality | Corporate | Total | |
|---|---|---|---|---|---|
| For the year ended December 31, 2023 | |||||
| Total revenues | $ 198,679 | $ 131,716 | $ 1,999 | $ 375 | $ 332,769 |
| Operating income (loss) | 38,890 | 2,189 | 187 | (31,972) | 9,294 |
| Capital asset additions | $ 28,426 | $ 21,450 | $ 123 | $ 3,551 | $ 53,550 |
| As of December 31, 2023 | |||||
| Total assets | $ 153,769 | $ 97,840 | $ 5,868 | $ 59,768 | $ 317,245 |
| For the year ended December 31, 2022 | STK | Kona Grill | ONE Hospitality | Corporate | Total |
| Total revenues | $ 187,402 | $ 126,341 | $ 2,344 | $ 551 | $ 316,638 |
| Operating income (loss) | 40,343 | 7,217 | 1,282 | (32,536) | 16,306 |
| Capital asset additions | $ 19,116 | $ 10,496 | $ 139 | $ 2,878 | $ 32,629 |
| As of December 31, 2022 |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the STK segment's total revenue for the year ended December 31, 2023, was $198,679,000. This figure represents the revenue generated from STK restaurant locations, management, license and incentive fees from the STK brand, and pre-opening expenses associated with new restaurants.
This revenue figure is a key indicator of the financial performance of the STK segment within Benihana's portfolio. It demonstrates the brand's ability to generate sales through its various revenue streams. A prospective franchisee can use this information to assess the potential revenue-generating capacity of an STK franchise.
It's also useful to compare the 2023 revenue to the previous year. The FDD shows that the STK segment's total revenues for the year ended December 31, 2022, were $187,402,000. This indicates an increase in revenue from 2022 to 2023 for the STK segment. This trend could be a positive sign for potential franchisees, suggesting growth and increasing brand popularity.
However, prospective franchisees should also consider other factors, such as operating expenses and capital asset additions, to get a complete picture of the segment's profitability and financial health. These figures are also provided in the same table in the FDD, allowing for a comprehensive analysis of the STK segment's financial performance.