What was the total owned restaurant net revenue for Benihana in 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| December 31, 2022 | December 31, 2021 | ||
|---|---|---|---|
| ASSETS | |||
| Current assets: | |||
| Cash and cash equivalents | $ 55,121 | $ | 23,614 |
| Accounts receivable | 15,220 | 11,356 | |
| Inventory | 5,728 | 3,915 | |
| Other current assets | 2,091 | 3,666 | |
| Due from related parties | 376 | 376 | |
| Total current assets | 78,536 | 42,927 | |
| Property and equipment, net | 94,087 | 69,638 | |
| Operating lease right-of-use assets | 85,161 | 85,395 | |
| Deferred tax assets, net | 12,323 | 12,313 | |
| Intangibles, net | 15,290 | 15,505 | |
| Other assets | 4,774 | 3,199 | |
| Security deposits | 853 | 858 | |
| Total assets | $ 291,024 | $ | 229,835 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||
| Current liabilities: | |||
| Accounts payable | $ 13,055 | $ | 11,094 |
| Accrued expenses | 22,409 | 23,155 | |
| Deferred gift card revenue and other | 2,115 | 2,029 | |
| Current portion of operating lease liabilities | 6,336 | 5,396 | |
| Current portion of long-term debt | 1,500 | 500 | |
| Other current liabilities | 256 | 90 | |
| Total current liabilities | 45,671 | 42,264 | |
| Operating lease liabilities, net of current portion | 105,247 | 103,616 | |
| Long-term debt, net of current portion | 70,544 | 23,132 | |
| Other long-term liabilities | 972 | 298 | |
| Total liabilities | 222,434 | 169,310 | |
| Commitments and contingencies (Note 15) | |||
| Stockholders' equity: | |||
| Common stock, $0.0001 par value, 75,000,000 shares authorized; 32,829,995 issued | |||
| and 31,735,423 outstanding at December 31, 2022 and 32,138,396 shares issued and | |||
| 32,125,762 outstanding at December 31, 2021 | 3 | 3 | |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued | |||
| and outstanding at December 31, 2022 and December 31, 2021, respectively | — | — | |
| Treasury stock, 1,094,572 and 12,634 shares at cost at December 31, 2022 and | |||
| December 31, 2021, respectively | (7,169) | (37) | |
| Additional paid-in capital | 55,583 | 53,481 | |
| Retained earnings | 24,166 | 10,632 | |
| Accumulated other comprehensive loss | (2,869) | (2,645) | |
| Total stockholders' equity | 69,714 | 61,434 | |
| Noncontrolling interests | (1,124) | (909) | |
| Total equity | 68,590 | 60,525 | |
| Total liabilities and equity | $ 291,024 | $ | 229,835 |
See notes to the consolidated financial statements.
F-4
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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 total owned restaurant net revenue for the year ended December 31, 2022, was $300,859.
This figure represents the revenue generated by restaurants that are owned and operated by Benihana, rather than franchised locations. It's a key indicator of the company's performance in its directly managed operations.
Prospective franchisees can use this information to understand the revenue potential of corporate-owned restaurants, although individual franchise performance may vary based on location, management, and other factors. Reviewing this figure in comparison to previous years and alongside other revenue streams (like management and licensing fees) can provide a more comprehensive view of Benihana's financial health.