What was the total rent revenue for Carls in fiscal year 2023?

According to Carls's 2024 Franchise Disclosure Document, there are two slightly different figures for total rent revenue in fiscal year 2023. One excerpt shows that the total rent revenue for fiscal year 2023 was $98,104, which is comprised of $91,482 in minimum rent revenue and $6,622 in variable rent revenue. Another excerpt from the same document states that the total rent revenue for fiscal year 2023 was $101,301, which is comprised of $94,426 in minimum rent revenue and $6,875 in variable lease payments.

It is important to note that these figures represent rent revenue received by Carls, presumably from franchisees leasing property from them. This revenue is offset by rent expenses, which include operating lease costs and variable lease costs. The net rent income, calculated by subtracting total operating lease costs from total rent revenue, was $12,079 according to one excerpt and $6,661 according to another excerpt for fiscal year 2023.

Prospective franchisees should take note of these figures to understand the rental income Carls receives. Understanding the discrepancy in the figures presented in different parts of the FDD is also important. It would be prudent for potential franchisees to discuss these discrepancies with Carls to clarify the exact rent revenue figures and understand the factors contributing to any differences. This due diligence will help franchisees better assess the financial performance and stability of Carls.