What was the total purchase price consideration paid by Carls for the three Hardee's restaurants acquired on April 26, 2021?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
| | Estimated Useful Life | 2024 | 2023 | |-------------------------------------------------------|--------------------------|---------------|---------------| | Land | | $ 192,390 | $ 195,288 | | | | | | | Leasehold improvements | 3-25 years | 105,359 | 103,637 | | Buildings and improvements | 3-40 years | 191,141 | 190,542 | | Equipment, furniture and fixtures | 3-8 years | 140,630 | 115,486 | | Finance leases | 5-33 years | 18,174 647,694 | 9,264 614,217 | | Less accumulated depreciation and amortization(1) | | (270,258) | (242,645) | | | | | | | Total property and equipment, net | | $ 377,436 | $ 371,572 | (1) The accumulated amortization related to finance leases was $333 and $1,375 as of January 31, 2024 and 2023, respectively.
Dep
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, Carls acquired nineteen Hardee's restaurants and one Carl's Jr. restaurant during the fiscal year ended January 31, 2024. The total purchase price consideration for these acquisitions was $3,342,000. When combined with certain assets subject to pre-existing relations with these franchisees, the aggregate consideration transferred totaled $3,438,000.
This information indicates that Carls is actively involved in acquiring existing franchise locations. For a prospective franchisee, this could mean potential opportunities to later sell their restaurant back to the company. It also suggests that Carls is willing to invest in expanding its company-owned restaurant portfolio.
However, the FDD does not provide specific details regarding the acquisition of three Hardee's restaurants on April 26, 2021, as requested in the question. The document only mentions acquisitions made during the fiscal year ended January 31, 2024. To obtain the specific purchase price for the three Hardee's restaurants acquired on April 26, 2021, a prospective franchisee should directly ask the franchisor for this information during their due diligence process.