What was the total value of Benihana's total assets as of December 31, 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
f directors, the Company's public statements, operating plans, and industry data to identify any evidence that may contradict management's assumptions
- We tested the completeness and accuracy of the underlying source information used by management to identify quantitative indicators of impairment.
/s/ Deloitte & Touche LLP
Denver, Colorado March 9, 2023
We have served as the Company's auditor since 2021.
F-3
THE ONE GROUP HOSPITALITY, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share information)
| December 31, 2022 | December 31, 2021 | ||
|---|---|---|---|
| ASSETS | |||
| Current assets: |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the company's total assets as of December 31, 2022, were valued at $291,024. This figure represents the sum of various asset categories, providing a snapshot of the company's financial position at that specific point in time. These assets include both current assets like cash, accounts receivable, and inventory, as well as non-current assets such as property, equipment, operating lease right-of-use assets, deferred tax assets, intangibles, and other assets.
For a prospective Benihana franchisee, understanding the asset composition and total asset value can offer insights into the financial health and stability of the company. A higher asset value generally indicates a stronger financial foundation, which can be reassuring for franchisees considering investing in the brand. It's important to note that this figure is a snapshot in time and can fluctuate due to various factors, including market conditions, operational performance, and strategic decisions.
In addition to the total asset value, the FDD provides a breakdown of the different asset categories, allowing for a more detailed analysis of the company's financial structure. For instance, the document lists cash and cash equivalents at $55,121, property and equipment at $94,087, and operating lease right-of-use assets at $85,161 as of December 31, 2022. Reviewing these individual components can help potential franchisees assess the allocation of resources and identify areas of strength or potential concern.
It is also useful to compare these figures with previous years to identify trends and assess the company's growth trajectory. For example, the total assets increased from $229,835 on December 31, 2021, to $291,024 on December 31, 2022, indicating a positive growth trend. By analyzing these financial statements, prospective franchisees can make a more informed decision about investing in a Benihana franchise.