What was the total amount spent on payroll and other employee benefits for company-operated Carls restaurants in fiscal year 2023 for Hardee's Restaurants LLC?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
918 (596,389)Members' equity (deficit). (251,817)549.532 53,279 780,753 1.971 (88.272)1,297,263 Total liabilities and members' equity deficit
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THE CKE SECURITIZA TION ENTITIES COMBINING CONSOLIDATING STATEMENT OF OPERATIONS (In thousands)
| Carl's Jr. Restaurants LLC | Carl's Jr. FundingLLC | Carl's Jr. SPY Guarantor LLC | Hardee's Restaurants LLC | Hardee's FundingLLC | Hardee's SPY 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 | 34,365 | 81 ,844 | I 16,209 | |||||
| Occupancy and other | 33,772 | 80,939 | (17,414) | 97,297 | ||||
| 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 administrativ |
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 $81,844 (in thousands) on payroll and other employee benefits for company-operated restaurants during fiscal year 2023. This figure is part of the broader financial statement that outlines the revenues, operating costs, and expenses for both Carl's Jr. and Hardee's Restaurants LLC.
Payroll and employee benefits represent a significant operating expense for company-operated restaurants. For prospective franchisees, understanding these costs is crucial as they provide insight into the financial health and operational efficiency of the company-operated side of the business. While franchisees will be responsible for their own payroll and benefits, the performance of company-operated stores can be indicative of brand-wide trends and challenges.
The financial statement provides a detailed breakdown of various revenue streams and expenses, allowing potential investors to assess the profitability and stability of Carls. Reviewing these figures in comparison to previous years and industry benchmarks can offer a more comprehensive understanding of the franchise's financial performance. Franchisees should also inquire about any factors that may influence these costs, such as changes in minimum wage laws or healthcare regulations.