What specific time period is covered by the FY24 financial performance representation for Carls franchised restaurants?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
In Section I, we provide certain financial information and key performance indicators for our franchised restaurants that were open and in operation during the entire 52-week time period extending from January 31, 2023 through January 29 2024 ("FY24" or the "FY24 Period"). In Section II, we present the average historical FY24 revenue for the 8 franchised Carl's Jr. restaurants included in Section I that first opened for business in calendar years 2020, 2021, or 2022. In Section III of this financial performance representation, we present average historical FY24 revenue and associated costs and expenses for those franchised Carl's Jr. restaurants that have shared financial information with us via the online iLumen portal.
The restaurants included in this financial performance representation are all franchise operated Carl's Jr. freestanding restaurants located in the United States. A Carl's Jr. restaurant is considered "freestanding" if it is located in a single tenant building, not attached to any other structures. This financial performance representation does not include information for franchise operated Carl's Jr. restaurants operated from travel plazas, gas and convenience stores, colleges and universities, and airports. Further, franchised Carl's Jr. restaurants located outside the United States are not included in this financial performance representation. This financial performance representation does not include information regarding any company owned or operated Carl's Jr. restaurants.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 66–72)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, the financial performance representation for franchised restaurants covers the 52-week period from January 31, 2023, through January 29, 2024, which is referred to as "FY24" or the "FY24 Period". This data includes information from freestanding franchised Carls restaurants located in the United States. Freestanding restaurants are defined as those in single-tenant buildings, not attached to other structures.
Carls excludes specific types of franchised restaurants from this financial performance representation. These exclusions include restaurants operated from travel plazas, gas and convenience stores, colleges and universities, and airports. Additionally, the representation does not include data from franchised Carls restaurants located outside the United States or any company-owned or operated restaurants.
The financial performance representation is divided into three sections. Section I presents financial information and key performance indicators for franchised restaurants open and operating for the entire FY24 period. Section II presents the average historical FY24 revenue for a subset of these restaurants that opened between 2020 and 2022. Section III presents average historical FY24 revenue, costs, and expenses for restaurants that shared financial information via the online iLumen portal.