What were the total revenues for Benihana in 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) |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the total revenues for the year ended December 31, 2023, were $332,769. This figure represents the combined domestic and international revenues for Benihana. In comparison, the total revenues for the year ended December 31, 2022, were $316,638.
Breaking down the 2023 revenue, owned restaurant net revenue contributed $317,366, while management, license, and incentive fee revenue accounted for $15,403. These figures provide insight into the different streams of income that contribute to Benihana's overall financial performance. For a prospective franchisee, understanding the composition of these revenues is crucial for assessing the potential profitability and stability of the franchise.
It's also worth noting the various costs and expenses that Benihana incurred during 2023. Total costs and expenses amounted to $323,475, which included owned restaurant cost of sales at $75,727 and owned restaurant operating expenses at $191,250. General and administrative expenses, including stock-based compensation, totaled $30,751. Depreciation and amortization expenses were $15,664, and pre-opening expenses were $8,855. Analyzing these expenses alongside the revenue figures helps to paint a comprehensive picture of Benihana's financial health and operational efficiency.