What was the total amount spent on payroll and other employee benefits for company-operated restaurants by Hardee's Restaurants LLC?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
| ,652) | (27,320) | — | — | (61,863) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Other income (loss), net | 3,589 | 112,499 | 61,153 | 406 | 81,860 | 36,915 | (291,632) | 4,790 | ||
| Income (loss) before income taxes | 118,236 | 66,269 | 61,153 | 82,120 | 41,798 | 36,915 | (291,632) | 114,859 | ||
| Income tax expense | 4,453 | — | — | 1,461 | — | — | — | 5,914 | ||
| Net income (loss) | $ 113,783 $ | 66,269 $ | 61,153 $ | 80,659 $ | 41,798 $ | 36,915 $ | (291,632) $ | 108,945 | ||
THE CKE SECURITIZATION ENTITIES COMBINING CONSOLIDATING STATEMENT OF OPERATIONS (In thousands)
Fiscal 2023
| Carl's Jr. Restaurants LLC | Carl's Jr. Funding LLC | Carl's Jr. SPV Guarantor LLC | Hardee's Restaurants LLC | Hardee's Funding LLC | Hardee's SPV Guarantor LLC | Eliminations | The CKE Securitization Entities | |
|---|---|---|---|---|---|---|---|---|
| Revenue: | ||||||||
| Company-operated restaurants | $ 111,433 $ | — $ | — $ | 242,820 $ | — $ | — $ | — $ | 354,253 |
| Franchised restaurants and other | 168,244 | 5,579 | — | 122,587 | 11,835 | — | (17,414) | 290,831 |
| Total revenue | 279,677 | 5,579 | — | 365,407 | 11,835 | — | (17,414) | 645,084 |
| Operating costs and expenses: | ||||||||
| Company-operated restaurants: | ||||||||
| Food and packaging | 28,226 | — | — | 70,215 | — | — | — | 98,441 |
| Payroll and other employee benefits | 32,897 | — | — | 80,466 | — | — | — | 113,363 |
| Occupancy and other | 35,240 | — | — | 82,317 | — | — | (17,414) | 100,143 |
| Total company-operated restaurants | 96,363 | — | — | 232,998 | — | — | (17,414) | 311,947 |
| Franchised restaurants and other | 66,917 | — | — | 24,089 | — | — | — | 91,006 |
| Advertising | 6,774 | — | — | 12,502 | — | — | — | 19,276 |
| General and administrative | 6,694 | 23,462 | 1 | (724) | 26,515 | — | — | 55,948 |
| Facility action charges, net | 526 | — | — | 3,063 | — | — | — | 3,589 |
| Total operating costs and expenses | 177,274 | 23,462 | 1 | 271,928 | 26,515 | — | (1 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, Hardee's Restaurants LLC spent $80,466 on payroll and other employee benefits for company-operated restaurants. This figure is part of the overall operating costs and expenses for these restaurants.
For a prospective Carls franchisee, understanding these costs is crucial for financial planning. Payroll and employee benefits are significant expenses in the restaurant business, and this figure provides insight into the scale of those costs for company-operated restaurants. This can be used as a benchmark when evaluating the potential costs for a franchised location, although costs may vary based on location, staffing levels, and other factors.
It's important to note that this figure represents only the expenses of Hardee's Restaurants LLC and does not include similar expenses for Carl's Jr. Restaurants LLC or other related entities. The document also provides figures for other operating costs, such as food and packaging and occupancy, which, along with payroll and benefits, contribute to the total cost of running company-operated restaurants. Reviewing all these figures can give a more comprehensive understanding of the financial dynamics of the business.
Additionally, the FDD includes financial statements for both the current and previous fiscal years. Comparing these figures over time can reveal trends and provide a more complete picture of the financial health and stability of Carls's operations. A prospective franchisee should carefully analyze these trends to assess the potential risks and opportunities associated with investing in a Carls franchise.