How much was the equity distribution for Capriottis Sandwich Shop in 2023?
Capriottis_Sandwich_Shop Franchise · 2025 FDDAnswer from 2025 FDD Document
| Voting common stock: | ||
|---|---|---|
| Authorized 45,000,000 shares ($0.001 par value), | ||
| 7,130,000 shares issued and outstanding | 7,130 | 7,130 |
| Nonvoting common stock: | ||
| Authorized 30,000,000 shares ($0.001 par value), | ||
| 7,920,691 shares issued and outstanding | 7,920 | 7,920 |
| Additional paid-in capital | 21,131,767 | 21,131,767 |
| Less: 373,325 shares of treasury stock at cost | (823,845) | (823,845) |
| Accumulated deficit | (24,293,775) | (23,777,352) |
| Total Capriotti's Sandwich Shop, Inc.’s Equity (Deficit) | (3,970,803) | (3,454,380) |
| Noncontrolling Interest | 268,643 | 657,097 |
| Total Equity (Deficit) | (3,702,160) | (2,797,283) |
| Total Liabilities and Equity (Deficit) | $ 19,747,550 December 25, | $ 20,010,234 |
| Year ended | 2023 2022 | |
| Revenues | ||
| Franchise royalties and advertising contributions | $ 13,803,571 $ 12,801,525 | |
| Sales by Company-owned restaurants | 12,324,497 12,843,754 | |
| Franchise fees | 1,947,250 1,694,000 | |
| Other revenues | 144,257 98,855 | |
| Total Revenues | 28,219,575 27,438,135 | |
| Expenses | ||
| Cost of sales by Company-owned restaurants | 3,943,071 4,098,612 | |
| General and administrative expenses | 24,600,553 24,693,491 | |
| Total Expenses | 28,543,624 28,792,103 | |
| Loss, before depreciation and amortization | ||
| expense | (324,049) (1,353,968) | |
| Depreciation and Amortization Expense | 1,240,579 1,689,326 | |
| Operating Loss | (1,564,628) (3,043,293) | |
| Other Income (Expense) | ||
| Interest expense | (1,379,854) (1,271,789) | |
| Loss on disposal of Company-owned restaurants, net | (670) (211,026) | |
| Transaction expense | - (11,700) | |
| Other income | 2,207,253 122,059 | |
| Gain on extinguishment of Paycheck Protection Program | ||
| loans | - 43,295 | |
| Total Other Income (Expense) | 826,729 (1,329,161) | |
| Loss, before state income tax | ||
| benefit | (737,899) (4,372,455) | |
| State Income Tax Benefit | ||
| Net Loss | (737,899) (4,368,938) | |
| Net Loss Attributable to Noncontrolling Interest | 388,454 346,443 | |
| Net Loss Attributable to Capriotti’s | ||
| Sandwich Shop, Inc. | $ (349,445) $ (4,022,495) |
Source: Item 23 — RECEIPTS (FDD pages 73–303)
What This Means (2025 FDD)
According to the 2025 FDD, the total equity (deficit) for Capriotti's Sandwich Shop in 2023 was approximately $(3,454,380). This figure represents the overall financial position of the company, reflecting the difference between its assets and liabilities, and includes accumulated deficits and noncontrolling interests. The FDD also lists the total equity (deficit) including noncontrolling interest as $(2,797,283).
It is important to note that this is a deficit, meaning that the company's liabilities exceeded its assets during this period. This deficit is attributable to Capriotti's Sandwich Shop, Inc. and does not represent distributions to franchisees. The FDD also shows a net loss attributable to Capriotti's Sandwich Shop, Inc. of $(349,445) for the year ended 2023.
Prospective franchisees should carefully consider these figures as they provide insight into the financial health of Capriotti's Sandwich Shop. While a deficit does not necessarily indicate instability, it is crucial to understand the factors contributing to it and the company's plans for addressing it. Reviewing the complete financial statements and discussing these figures with a financial advisor is recommended to assess the potential risks and opportunities associated with investing in a Capriotti's Sandwich Shop franchise.