What was the total revenue for Benihana's owned restaurants in 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 21,047 | $ 55,121 |
| Accounts receivable | 17,264 | 15,220 |
| Inventory | 6,184 | 5,728 |
| Other current assets | 1,809 | 2,091 |
| Due from related parties | 376 | 376 |
| Total current assets | 46,680 | 78,536 |
| Property and equipment, net | 139,908 | 94,087 |
| Operating lease right-of-use assets | 95,075 | 85,161 |
| Deferred tax assets, net | 14,757 | 12,323 |
| Intangibles, net | 15,306 | 15,290 |
| Other assets | 4,636 | 4,774 |
| Security deposits | 883 | 853 |
| Total assets | $ 317,245 | $ 291,024 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $ 19,089 | $ 13,055 |
| Accrued expenses | 28,333 | 22,409 |
| Deferred gift card revenue and other | 2,077 | 2,115 |
| Current portion of operating lease liabilities | 6,897 | 6,336 |
| Current portion of long-term debt | 1,500 | 1,500 |
| 266 | 256 | |
| Other current liabilities | ||
| Total current liabilities | 58,162 | 45,671 |
| Operating lease liabilities, net of current portion | 120,481 | 105,247 |
| Long-term debt, net of current portion | 70,410 | 70,544 |
| Other long-term liabilities | 832 | 972 |
| Total liabilities | 249,885 | 222,434 |
| Commitments and contingencies (Note 14) | ||
| Stockholders' equity: | ||
| Common stock, $0.0001 par value, 75,000,000 shares authorized; 33,560,428 issued | ||
| and 31,283,975 outstanding at December 31, 2023 and 32,829,995 shares issued and | ||
| 31,735,423 outstanding at December 31, 2022 | 3 | 3 |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued | ||
| and outstanding at December 31, 2023 and December 31, 2022, respectively | — | — |
| Treasury stock, 2,276,453 and 1,094,572 shares at cost at December 31, 2023 and | ||
| December 31, 2022, respectively | (15,051) | (7,169) |
| Additional paid-in capital | 58,270 | 55,583 |
| Retained earnings | 28,884 | 24,166 |
| Accumulated other comprehensive loss | (2,930) | (2,869) |
| Total stockholders' equity | 69,176 | 69,714 |
| (1,816) | (1,124) | |
| Noncontrolling interests | ||
| Total equity | 67,360 | 68,590 |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the total revenue for Benihana's owned restaurants for the year ending December 31, 2022, was $300,859.
This figure represents the net revenue generated specifically by restaurants that Benihana owns and operates directly, as opposed to franchised locations. It is a key indicator of the financial performance of Benihana's corporate-owned stores.
Prospective franchisees can use this information to understand the revenue-generating potential of Benihana's business model in company-operated settings. While franchisee-owned restaurants may perform differently, this provides a benchmark for assessing the brand's overall financial health and consumer appeal. It's important to note that this figure does not include revenue from management, license, or incentive fees, which are separate income streams for Benihana.