What was the total revenue from company-operated restaurants for Carl's Jr. Restaurants LLC?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
| ASSETS | 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 |
|---|---|---|---|---|---|---|---|---|
| Current assets: | ||||||||
| Cash and cash equivalents $ | 1,627 $ | 1,161 $ | — $ | 3,555 $ | 977 $ | — $ | — $ | 7,320 |
| Cash and cash equivalents - restricted | — | 16,053 | — | — | — | — | — | 16,053 |
| Accounts receivable, net | 10,663 | — | — | 10,036 | — | — | — | 20,699 |
| Due from affiliates | 6,860 | 20,696 | — | 52,060 | 215 | — | (79,292) | 539 |
| Inventories | 562 | — | — | 2,411 | — | — | — | 2,973 |
| Prepaid expenses | — | 16 | — | 137 | 20 | — | — | 173 |
| Other current assets | 83 | — | — | — | — | — | — | 83 |
| Total current assets | 19,795 | 37,926 | — | 68,199 | 1,212 | — | (79,292) | 47,840 |
| Property and equipment, net | 83,427 | — | — | 266,461 | — | — | — | 349,888 |
| Operating lease assets | 317,666 | — | — | 93,790 | — | — | — | 411,456 |
| Intangible assets, net | 384,915 | — | — | 408,115 | — | — | — | 793,030 |
| Other assets, net | 13,000 | — | — | 15,810 | — | — | — | 28,810 |
| Total assets $ | 818,803 $ | 37,926 $ | — $ | 852,375 $ | 1,212 $ | — $ | (79,292) $ | 1,631,024 |
| LIABILITIES AND MEMBERS' DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Current portion of long-term debt $ | — $ | 5,900 $ | — $ | — $ | 5,900 $ | — $ | — $ | 11,800 |
| Current portion of finance leases | 627 | — | — | 641 | — | — | — | 1,268 |
| Current portion of operating leases | 59,930 | — | — | 16,312 | — | — | — | 76,242 |
| Accounts payable | 2,849 | — | — | 3,358 | — | — | — | 6,207 |
| Due to affiliates | (564) | 55,477 | — | 3,779 | 25,677 | — | (79,292) | 5,077 |
| Other current liabilities | 10,931 | 2,982 | — | 18,435 | 2,968 | — | — | 35,316 |
| Total current liabilities | 73,773 | 64,359 | — | 42,525 | 34,545 | — | (79,292) | 135,910 |
| Long-term debt, less current portion | — | 558,203 | — | — | 558,202 | — | — | 1,116,405 |
| Finance leases, less current portion | 5,269 | — | — | 9,159 | — | — | — | 14,428 |
| Operating leases, less current portion | 269,290 | — | — | 80,987 | — | — | — | 350,277 |
| Other long-term liabilities | 68,431 | (1) | — | 194,080 | — | — | — | 262,510 |
| Total liabilities | 416,763 | 622,561 | — | 326,751 | 592,747 | — | (79,292) | 1,879,530 |
| Members' equity (deficit): | ||||||||
| Members' equity (deficit) | 402,040 | (584,635) | — | 525,624 | (591,535) | — | — | (248,506) |
| Total liabilities and members' deficit $ | 818,803 $ | 37,926 $ | — $ | 852,375 $ | 1,212 $ | — $ | (79,292) $ | 1,631,024 |
THE CKE SECURITIZATION ENTITIES COMBINING CONSOLIDATING STATEMENT OF OPERATIONS (In thousands)
Fiscal 2024
| | 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
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, Carl's Jr. Restaurants LLC generated $112,928 in revenue from company-operated restaurants. This figure represents the income derived directly from restaurants that are owned and operated by the company itself, as opposed to franchised locations. This revenue contributes to the overall financial performance of Carl's Jr. Restaurants LLC, which also includes revenue from franchised restaurants and other sources.
For a prospective franchisee, understanding the revenue generated by company-operated restaurants can provide insights into the potential performance of similar restaurant models. While franchisee-owned restaurants may have different cost structures and revenue streams, the company-operated figures offer a benchmark for assessing market demand and operational efficiency. It's important to note that this figure does not reflect the profitability of these restaurants, as operating costs and expenses must be considered.
In addition to revenue from company-operated restaurants, Carl's Jr. Restaurants LLC also generates revenue from franchised restaurants and other activities. The FDD indicates that franchised restaurants and other activities generated $175,402. The total revenue for Carl's Jr. Restaurants LLC, combining company-operated and franchised revenue, amounts to $288,330. This broader view of revenue sources is essential for understanding the overall financial health and stability of the Carls's brand.